How are there so many $60, $70, $80+ thousand dollar cars on the road??

[Anonymous]

Anonymous wrote:

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Anonymous wrote:Audi A3 is $35k. Audi A4 is $45k.

OP here - I wasn't thinking the low end models like A3 or A4. FWIW, I'd much rather get a Rav4 than either of those. My general comment was that I see so many VERY expensive cars on the road and don't quite fathom how there are that many people buying such cars.

It’s pretty easy to lease a car, OP.

And leasing is 99% of time, a really dumb financial decision. But then again, plenty of people buy homes with 5% down that they really cannot afford (and definately don't need), take fancy vacations that they can't afford and don't save enough for college/retirement. Most Americans don't know how to budget and plan

PP here. Of course leasing is a stupid financial decision. But the kinds of vapid morons who drive cars they can’t afford are already financially illiterate so of course they lease.

Literally everyone who leases a car is dumb.

Yup! There is no scenario where it makes financial sense. Some say "its the way to get a new car every 2 years". Well that in and of itself is not smart. Nobody needs a new car every 2 years. Buy and drive for at least 4-5 years minimum.

And yes, many in America are financially illiterate. Most don't get "wants" vs "needs" and how to delay gratification. Kids start in their 20s and want to live just like mom and dad, but don't realize M&D didn't live in that 3K+ luxury home and drive luxury cars when they were 22. We lived in cheap apartments and drove basic cars while we paid off our student loans and saved for our first home.

There are many instances where leasing is the absolute best choice. You have to find the lease deals that make sense.
I have been leasing cars for the past 10 years. My monthly payments on leases are never more than $350. I lease for 3 years then rinse and repeat.
If you do the math on a $350 lease payment, that’s $4200 per year, $42k over 10 years.
I just started a lease on the Polestar 2 LR. Great deal for $299 a month. MSRP for the car is $56k
https://www.polestar.com/us/offers/new/polestar-2-2024-lrdm-lease/

Could I just buy a Camry or Accord for $35k and drive it for 10 years? Yes. But I would spend another $10k on service and maintenance over that time.
My leases come with maintenance included and warranty. Not spending a penny on maintenance.

Even if after running all numbers it would cost me $5k more over 10 years to lease vs buy. It’s totally worth it. Wouldn’t you pay $500 every year to drive a brand new car every three years and not have to deal with maintenance headaches ever?
That’s what I’m doing. It works with the right lease deal.

You're still pissing money away. Bought my Corolla for 11k and about to hit 350k miles. Original tranny and motor! Just change the oil every 10k and basic maintenance like brakes, fluids, etc.

And not everyone wants to drive a Corolla with 350k miles on it.

[Anonymous]

Anonymous wrote:Some people make poor financial choices. Smart people don't buy expensive vehicles.

This is objectively not true, because smart people tend to make a lot of money and can afford them.

[Anonymous]

My $800 car payment is a drop in the bucket each month. We save 35% of our income. People make a lot of money around here.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Audi A3 is $35k. Audi A4 is $45k.

OP here - I wasn't thinking the low end models like A3 or A4. FWIW, I'd much rather get a Rav4 than either of those. My general comment was that I see so many VERY expensive cars on the road and don't quite fathom how there are that many people buying such cars.

It’s pretty easy to lease a car, OP.

And leasing is 99% of time, a really dumb financial decision. But then again, plenty of people buy homes with 5% down that they really cannot afford (and definately don't need), take fancy vacations that they can't afford and don't save enough for college/retirement. Most Americans don't know how to budget and plan

PP here. Of course leasing is a stupid financial decision. But the kinds of vapid morons who drive cars they can’t afford are already financially illiterate so of course they lease.

Literally everyone who leases a car is dumb.

Not sure you can make the argument that a corolla is save, especially not when going head to head with a Tahoe or other large vehicle.

Yup! There is no scenario where it makes financial sense. Some say "its the way to get a new car every 2 years". Well that in and of itself is not smart. Nobody needs a new car every 2 years. Buy and drive for at least 4-5 years minimum.

And yes, many in America are financially illiterate. Most don't get "wants" vs "needs" and how to delay gratification. Kids start in their 20s and want to live just like mom and dad, but don't realize M&D didn't live in that 3K+ luxury home and drive luxury cars when they were 22. We lived in cheap apartments and drove basic cars while we paid off our student loans and saved for our first home.

There are many instances where leasing is the absolute best choice. You have to find the lease deals that make sense.
I have been leasing cars for the past 10 years. My monthly payments on leases are never more than $350. I lease for 3 years then rinse and repeat.
If you do the math on a $350 lease payment, that’s $4200 per year, $42k over 10 years.
I just started a lease on the Polestar 2 LR. Great deal for $299 a month. MSRP for the car is $56k
https://www.polestar.com/us/offers/new/polestar-2-2024-lrdm-lease/

Could I just buy a Camry or Accord for $35k and drive it for 10 years? Yes. But I would spend another $10k on service and maintenance over that time.
My leases come with maintenance included and warranty. Not spending a penny on maintenance.

Even if after running all numbers it would cost me $5k more over 10 years to lease vs buy. It’s totally worth it. Wouldn’t you pay $500 every year to drive a brand new car every three years and not have to deal with maintenance headaches ever?
That’s what I’m doing. It works with the right lease deal.

You're still pissing money away. Bought my Corolla for 11k and about to hit 350k miles. Original tranny and motor! Just change the oil every 10k and basic maintenance like brakes, fluids, etc.

Yeah but you’re driving a Corolla with 350k miles on it.

So? They haven't had a car payment for over 5-7+ years most likely. If they have been saving, their next car can be paid for with mostly cash. The Corolla did it's job---was safe, reliable and got them to/from their job and transported the family

[Anonymous]

I bought a $62k Grand Cherokee. Whatever. We can afford it, and since the kids go to school 30 minutes away, it makes my life a whole lot more pleasant. You can't take money with you when you go.

[Anonymous]

Anonymous wrote:

Anonymous wrote:My sister’s kitted out Honda minivan was more than our BMW, Mercedes, and Volvo. The difference is she bought new and we bought used.

Did you factor in the maintenance and repairs?

Yup! They were $15k cheaper, and the BMW we bought for $25k.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Some people make poor financial choices. Smart people don't buy expensive vehicles.

So… since I’m sure you consider yourself a smart person, what do smart people spend money on?

Not PP, but smart people have money make more money. That's more interesting than buying a luxury car. They will still buy a decent car, but they don't think about it much.
I made 12% on my money in the market today. Selling it now and buying low again. It's more exciting than a new car and I would know.
I got my car at 0% a month ago. Sold my old car, used the money to get the 12% and now slowly paying the 0%. I'm able to catch the 8-10% about twice a month. Yesterday was a special day.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My sister’s kitted out Honda minivan was more than our BMW, Mercedes, and Volvo. The difference is she bought new and we bought used.

Did you factor in the maintenance and repairs?

Yup! They were $15k cheaper, and the BMW we bought for $25k.

Most of the status/European cars are a maintenance nightmare. Maybe you got lucky?

[Anonymous]

Anonymous wrote:My $800 car payment is a drop in the bucket each month. We save 35% of our income. People make a lot of money around here.

The median income isn't that high around here, especially when you consider the high cost of living.

People either have a saver mentality or they don't. Maybe very high earners are an exception, but spenders usually end up getting burned.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Literally everyone who leases a car is dumb.

Actually, anyone who believes this is the one lacking financial acumen. We leased a car last summer and prepaid the 36 month lease. It is a luxury electric vehicle that was under a manufacturer subsidized lease, plus the dealer matched the federal tax deduction being offered for other electric care but not the one we bought. So - we saved roughly 10k on the price we would have paid had we bought the vehicle outright, leaving that money for us to invest. We will buy the car at the end of the lease but kept 50% of the cost and the use of our cash for an extra three years.

Is this common for a leasing plan?
What are the mileage restrictions?

I like to swap out to a new car every 2-3 years.
Trying to convince spouse that leasing is the smarter way to go.

Does anyone worry about the environmental toll by getting a new vehicle every 3 years?

I don't. I'm going to be dead in 30-40 years. I don't care.

i.e., your selfish and only care about yourself - not even your offspring. Hi Boomer or Trump (who is also a selfish Boomer).

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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Anonymous wrote:Personally fancy and new cars are a waste of money. To each their own.

OP, I feel the same way. The other day, I saw a Bentley SUV parked in front of the little convenience store in my neighorhood. I would have assume it was just a normal high-end SUV, like and Audi or BWM, but a freakin' Bentley? WHY????? Some people have more money than sense I guess.

Well if the owner is worth 10M+ and makes $800K/year, they can afford it easily. So they might actually have some "sense". Just like to spend their extras on cars

I can also afford to buy thousands of pounds of salt, spread it over my neighbors’ yards, and destroy everyone else’s curb appeal except for mine. Just because one can afford to do something doesn’t mean one should do it. Take the high ground for a change.

Don't be stupid. A car can be driven. Some people like having luxury cars. Others are indifferent. I don't judge.

-- happily drives a Subaru Outback and doesn't think twice about cars.

DP

I absolutely judge the environmental impact of upgrading a car because someone is a "car person". Give me a break! If they were a "car person" they should restore an existing car or upgrade something already here, not create something new so they can show off.

PS - also a Subaru person. I keep cars for 10+ years, intentionally

[Anonymous]

Anonymous wrote:My sister’s kitted out Honda minivan was more than our BMW, Mercedes, and Volvo. The difference is she bought new and we bought used.

Your sister will be able too drive her Honda 20 years. Your bmw, Volvo, Benz will be rusting in the grave. The worst thing you can do is purchase a “premium” car used.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Some people make poor financial choices. Smart people don't buy expensive vehicles.

So… since I’m sure you consider yourself a smart person, what do smart people spend money on?

Not PP, but smart people have money make more money. That's more interesting than buying a luxury car. They will still buy a decent car, but they don't think about it much.
I made 12% on my money in the market today. Selling it now and buying low again. It's more exciting than a new car and I would know.
I got my car at 0% a month ago. Sold my old car, used the money to get the 12% and now slowly paying the 0%. I'm able to catch the 8-10% about twice a month. Yesterday was a special day.

For many people – such as yourself – the only way they can afford to invest in the market is to cut corners elsewhere within their budgets. Trust me, I get what it’s like to only be able to scrape by. Truly smart people, on the other hand, are making just as much in the market as you while also being able to afford a nicer vehicle.

Maybe someday you’ll have what it takes to elevate your financial game to this level.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Audi A3 is $35k. Audi A4 is $45k.

OP here - I wasn't thinking the low end models like A3 or A4. FWIW, I'd much rather get a Rav4 than either of those. My general comment was that I see so many VERY expensive cars on the road and don't quite fathom how there are that many people buying such cars.

It’s pretty easy to lease a car, OP.

And leasing is 99% of time, a really dumb financial decision. But then again, plenty of people buy homes with 5% down that they really cannot afford (and definately don't need), take fancy vacations that they can't afford and don't save enough for college/retirement. Most Americans don't know how to budget and plan

PP here. Of course leasing is a stupid financial decision. But the kinds of vapid morons who drive cars they can’t afford are already financially illiterate so of course they lease.

Literally everyone who leases a car is dumb.

Yup! There is no scenario where it makes financial sense. Some say "its the way to get a new car every 2 years". Well that in and of itself is not smart. Nobody needs a new car every 2 years. Buy and drive for at least 4-5 years minimum.

And yes, many in America are financially illiterate. Most don't get "wants" vs "needs" and how to delay gratification. Kids start in their 20s and want to live just like mom and dad, but don't realize M&D didn't live in that 3K+ luxury home and drive luxury cars when they were 22. We lived in cheap apartments and drove basic cars while we paid off our student loans and saved for our first home.

There are many instances where leasing is the absolute best choice. You have to find the lease deals that make sense.
I have been leasing cars for the past 10 years. My monthly payments on leases are never more than $350. I lease for 3 years then rinse and repeat.
If you do the math on a $350 lease payment, that’s $4200 per year, $42k over 10 years.
I just started a lease on the Polestar 2 LR. Great deal for $299 a month. MSRP for the car is $56k
https://www.polestar.com/us/offers/new/polestar-2-2024-lrdm-lease/

Could I just buy a Camry or Accord for $35k and drive it for 10 years? Yes. But I would spend another $10k on service and maintenance over that time.
My leases come with maintenance included and warranty. Not spending a penny on maintenance.

Even if after running all numbers it would cost me $5k more over 10 years to lease vs buy. It’s totally worth it. Wouldn’t you pay $500 every year to drive a brand new car every three years and not have to deal with maintenance headaches ever?
That’s what I’m doing. It works with the right lease deal.

You're still pissing money away. Bought my Corolla for 11k and about to hit 350k miles. Original tranny and motor! Just change the oil every 10k and basic maintenance like brakes, fluids, etc.

And not everyone wants to drive a Corolla with 350k miles on it.

So drive a toyota/honda until it hits 150-200K. Do that once, continue to save your old car payment for the next 6-8 years and you will most likely be able to buy a $30-40K vehicle with cash or close to it. Then drive that one for 10 years/200K miles. Fact is I've known many who do that with minimal maintenance from Hondas/Toyotas. Bonus is your insurance is also much lower on an older vehicle, so more savings

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Some people make poor financial choices. Smart people don't buy expensive vehicles.

So… since I’m sure you consider yourself a smart person, what do smart people spend money on?

Not PP, but smart people have money make more money. That's more interesting than buying a luxury car. They will still buy a decent car, but they don't think about it much.
I made 12% on my money in the market today. Selling it now and buying low again. It's more exciting than a new car and I would know.
I got my car at 0% a month ago. Sold my old car, used the money to get the 12% and now slowly paying the 0%. I'm able to catch the 8-10% about twice a month. Yesterday was a special day.

I’m picturing Scrooge McDuck swimming in his millions. You really seem to love money.

That’s fine. Some people like nice cars more than you do. Different strokes.