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Cars and Transportation
Reply to ""luxury" cars - why? "
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[quote=Anonymous][quote=Anonymous]Why would someone buy a 70-150k car when a 35k car gets you around just fine? Seems like a waste to me. I have a friend who just bought a Mercedes and I don't think k I could bring myself to do it. I know everyone's values are different but if I got a raise, I would go on vacation and save some. [/quote] I bought a 1975 450Sl Mercedes convertible in 1992 for $7,500 and it got totaled in 2012. I had it 20 years, put around $12K worrth of repairs and maint in it over 20 years. My insurance was on average $100 a year as a collector car. When totaled it was appreciated so I got paid out $18,500. I also paid like $25 bucks a year registration and inspection as a classic car. Net cost was $3,500 to keep it on road with insurance, maint and registration for 20 years. I laughed so hard at neighbors leasing cars for like $350 a month who were impressed at my mercedes. They spend $84,000 on lease payments alone over 20 years. [/quote]
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