Reply to Your income, HHI, and spending on “luxuries”

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]All of us patting ourselves on the back for driving old cars don’t get it, it’s still luxurious because a) we could afford to maintain them and b) if and when they become unreliable, we’ll replace them[/quote]

So?  It frees up money to spend on other "luxuries" in life.  I drove my Luxury big SUV for 12+ years, sold it for ~30% of what I paid for it.  Yes, I got rid of it when it started having electrical issues that were going to start costing $$$.  But I have an extra $25-40K in my pocket because I didn't get a new car after 4-5 years, not to mention my insurance was cheaper the last 4-5 years because it was an older car.  Do that with each vehicle (10+ years instead of 4-5 years) and you have a lot of money to spend on other luxuries.

[/quote]

But why would anyone get a new car after 4-5 years if it's still running well?[/quote]

I know lots of people who replace their cars every 4-5 years.  They want the newest, "safest" exciting vehicles.  I agree with you---if its running and not many issues, why replace it?   Sure it's always nice to have a new car, but it's not financially smart.  I kept mine until it started having electrical issues---didn't want to sink $1500 for two electrical issues that needed to be fixed if I wanted to keep the car.  Rather take my $12K I sold it for and the 1.5K I saved and put it into a new car, that I will also drive for 10+ years.  
I can afford a new car but I'd rather spend that money on other things.  For me now, it's Flying first class---I no longer have any desire to be crammed back into even economy plus.  We can afford it, so it's our splurge. [/quote]

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