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In Reply to: RE: That's too much money just to fulfill a want. posted by 73812 on June 08, 2021 at 07:14:14
...granted, I have 4 vehicles that are older and out of warranty, but they are "toys" and don't count as daily/necessary transportation. My truck and Suburban were bought new and are still under warranty. The Tesla (that I did buy yesterday), is still under warranty (and extended one, at that).
Buy something new, and it has a full warranty, and even if you have to finance some portion of the purchase, interest rates are stupidly low. I haven't had a car payment since 1990-91, but that's my choice. At least for a few years, you won't be lying in the driveway "fixing" things.
I do have a mortgage on my little estate, but that's because it is basically free. I have the money to pay it off, but it is earning more (invested) than my zero interest loan. Being an historic property, restored and on the registry, the interest and tax breaks essentially pay me to live here. If I paid it off tomorrow, I'd gain nothing.
Couple hundred here and a few bucks there on an older vehicle--you're making a car payment. You just don't know what the bill is going to be this/next month. Sure--insurance is cheap, but so is what the insurance company is going to pay you in the event of a total loss.
I've posted this before--I used to be a "drive it til it drops" guy. Partly out of necessity (couldn't afford a new/used car every couple years), and I could work on them (or knew someone that could). Now, I'm a "drive it til the warranty is running out" guy. So much "dealer-only" crap to even want to deal with it.
You're retired, I'm retired--we're both too old for this shit. Find something you like and buy it. You say this may be your last car--doubtful--neither one of us are all that old. Your kids are doing OK, my girls are doing just fine--enjoy what you worked for.
"So I talk to the night, I head for the light, try and hold it on the road. Thank God for the man who put
the white lines on the highway"--a very dear friend for decades Michael Stanley (Gee)--RIP
Follow Ups:
See? We think along similar lines.
You aren't financing your cars and that's the big difference between the typical consumer and you. And me.
People sign their lives away--well, 6 or 7 years of their lives--for something they want (because of advertising) rather than something they need.
Believe me, if I could afford to get a primo '55 Chevy, I'd do it. And actually I could afford it. But there's the WAF to deal with.
But I'd never borrow money to get it.
The problem is not that there is evil in the world, the problem is that there is good. Because otherwise, who would care?
...I know a lot of people (not car geeks like us) that subscribe (and I really mean "subscribe") to leasing. They just factor-in that a car/lease payment is part of their monthly bills--just like utilities, taxes, insurance, cable, cell/internet. You just pay the bill every month (for the rest of your life). But they always have a new(er) vehicle that is always under warranty, and when 2-3 years are up, they get another new one.
All they do is put gas in it. Dealer handles routine service and any repairs under warranty. If it is out of commission for a bit, they get a loaner or rental car. And that works for them. It is almost like a long-term rental agreement, and it works for them.
You and I want to "own" something (have residual equity), but vehicles aren't like real-estate. Unless it's something "special" to start with, a 10-15 year-old car cannot be considered an "investment", and you're probably paying more in annual insurance premiums than the "total loss" value of the car, if you figure it out in the end.
It's a matter of choice. If you can accept that a car/lease payment is just a monthly recurring bill, you can always have a new(er) car. If you want to hang-on to something forever, you have to be prepared for any potentially catastrophic failure, at any time. It is what it is.
"So I talk to the night, I head for the light, try and hold it on the road. Thank God for the man who put
the white lines on the highway"--a very dear friend for decades Michael Stanley (Gee)--RIP
Including one woman, had a 2009 Chevy Trailblazer with 92K miles on it, paid for. No rust. She asked me, isn't it time I got a new car? I told her she was nuts. With proper maintenance, her Trailblazer would last another 92K miles.
Sure enough, she traded it in that night. On a leased Traverse. Because it had a heated steering wheel and a third row of seats.
She's got two kids. Not having any more.
So, she went from a paid-for car that was perfectly fine to a leased vehicle that she probably already had to turn in by now.
Yeah, that makes perfect sense. Especially since she was one of those people who was constantly bitching about the cost of daycare, food, clothes, etc.
It's that mentality that I can't grasp, even though there was a time when my ex-wife and I were guilty, guilty, guilty.
The problem is not that there is evil in the world, the problem is that there is good. Because otherwise, who would care?
I'm still driving my 1999 Nissan Maxima which I bought new in October of 1998. Leased it for 4 years, bought it on a 4 year loan. Why? 'Cause I love it! Fits me like a glove. Haven't had a car payment since 2006 - fifteen years ago!
Well, that's not entirely true: We made payments on my wife's Nissan Pathfinder until 2009 (four years). She put - are ya ready for this - 350,000 miles on it. It finally blew a gasket (literally) while on a trip in Wisconsin. Limped along (going through about 10 quarts of oil) 'til it finally gave up "the ghost" near Rolla, Missouri, where we lucked into a used (9,000 miless on it) Pathfinder at the local Nissan dealership on the Saturday before New Year's (a few years ago). Whew! That was a close one!
Drove back up there a couple weeks later to pick up the repaired old one, and sold it for $900. So, now we've got a car payment again, for about another year. Still, NOT having a car payment for years was REALLY nice. Looking forward to it again soon.
****
We are inclusive and diverse. But dissent will not be tolerated.
...this Tesla is less than user-friendly. My buddy (that I bought it from), ran me through all the "basics" last night, and I have yet to read the full manual (200+ pgs of misinformation) and the file-folder for all of the software upgrades. NONE--NONE of the controls are where your hand would "normally" fall when you reach for them--and EVERYTHING is on a touch-screen.
Oh well, the charger is installed and working, a good time was had by all (and everyone stayed here last night). My audio room got called "Stonehenge"--so I had to play it. I have Infinity IRS-Vs, Tekton DIs and a pair of Maggie 3.6Rs--that I just finished restoring, so they're kind of right.
Gonna go through the manual on a few things and then go out and play later this evening--I gotta see this display/controls after dark.
"So I talk to the night, I head for the light, try and hold it on the road. Thank God for the man who put
the white lines on the highway"--a very dear friend for decades Michael Stanley (Gee)--RIP
The interior materials are cheap and everything snaps together like it was made by Little Tykes, but the ergonomics are solid. Everything is where you expect it to be.
The problem is not that there is evil in the world, the problem is that there is good. Because otherwise, who would care?
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