Agree, well said. I keep motorbikes in 3 different countrys but haven't owned a car/cage since 2006. If i need a cage these days i'll rent one or get a taxi.
Buying a car - how much to spend?
- Thread starter bene313
- Start date
Agree, well said. I keep motorbikes in 3 different countrys but haven't owned a car/cage since 2006. If i need a cage these days i'll rent one or get a taxi.
It's not my "take" and stop winking at me.
http://www.squidoo.com/Biker-Lingo
# Cage: car, truck, or van.
# Cager: person in a car, truck, or van.
http://www.squidoo.com/Biker-Lingo
# Cage: car, truck, or van.
# Cager: person in a car, truck, or van.
I'm not a bikkie, so I didn't knew! Interesting to know that I classify as a cager for some!
(No winks)Yep, go and buy a Camry......or is that a washing machine with wheels. Still not sure myself.
Personally I just traded the XR6 Turbo in on a HSV Clubsport R8 (6.2 litre V8) with custom Walkinshaw exhaust, suspension and 20 inch rims. Lovely!
Ideo, Oscar and VYBerlinaV8 - couldn't agree more. Not too much beats the sound and feel of a nice performance car. Love property but as Ideo said it is a tool to get where we want, and some of us enjoy cars....
Am also soon to book a rally drive day with the proceeds of a birthday voucher for something different.
If you can claim costs against work - why not take advantage of it???
Not everything in life that we purchase has to be an appreciating asset does it?
Personally I just traded the XR6 Turbo in on a HSV Clubsport R8 (6.2 litre V8) with custom Walkinshaw exhaust, suspension and 20 inch rims. Lovely!
Ideo, Oscar and VYBerlinaV8 - couldn't agree more. Not too much beats the sound and feel of a nice performance car. Love property but as Ideo said it is a tool to get where we want, and some of us enjoy cars....
Am also soon to book a rally drive day with the proceeds of a birthday voucher for something different.
If you can claim costs against work - why not take advantage of it???
Not everything in life that we purchase has to be an appreciating asset does it?
No, but it's about being aware of that fine line between being a slave to consumer credit and depreciating value items, that can create a poorer lifestyle in the long run, and an improved lifestyle that you're looking to have for having purchased these items, whatever they may be.
Many live a life of luxury but live pay to pay because of these 'must haves' - even high income earners.
At the end of the day you should buy what you can afford - it could be something worth 5K or it could be 150K.
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No, but it's about being aware of that fine line between being a slave to consumer credit and depreciating value items, and a good lifestyle because of it.
Many live a life of luxury but live pay to pay
At the end of the day you should buy what you can afford - it could be something worth 5K or it could be 150K.
Fair point.
And yes you still need to budget on what you can afford.
However if you are spending pre-tax dollars on a vehicle that can be claimed then why not go for something a bit better? That is assuming, of course, that the OP enjoys cars - otherwise you may as well buy a korean kitchen appliance.
It is a vehicle, which takes you from A to B, which is the primary reason of buying a car for most people.
Buying that 5 acre McMansion will also be lovely but I won't do it now as it will hamper my investing career.
Depends what one enjoys more, financial freedom asap or a flashier car. Ironically a flashier car might work like an open parachute to the other vehicle (property investing). The additional cost of one flashier car can mean a deposit for another IP, which after one property cycle could mean $250k in the bank, or achieving financial independance 5 years earlier. Take your pick.
Who doesn't love brand new flashy cars? But it boils down to one's priorities and passions. For me, if given a choice between a slightly newer model and an extended world tour, I'll pick the latter. Doesn't mean I drive a bomb either, perfectly decent car which does the job it's made for.
A new flashy car comes at a price, and a pretty hefty price, especially for a person who understands money, which I assume all property investors do. But if it is a passion, go for it. That's what we are in property investing for. Or better, try to strike a balance.
Not sure how you can assume from the information I have provided that I am 'buying' a flashy car or that it is acting like an open parachute.
For your information my work provides me with a tax free car allowance which I then use to lease a car, which is depreciated over the term. Also all running costs are claimed on tax. Therefore I am spending about half on a car when compared to if I were buying/leasing post tax.
Also I don't take the hit of depreciation if I purchase with the right term and balloon.
And it has no impact on my ability to borrow money to purchase IP's, so before you pull my investment decisions apart please make sure you know all the facts
And if you are happy to drive a toaster that is fine. Just keep out of my way
Exactly. We spend about 3% of our gross working income each year owning and running our two vehicles.
Hardly an issue.
And that's all true and ok...
I don't think they were saying everyone should buy what they bought whether they can afford it or not.
I too see many into their passions / hobbies / irresponsibilities etc.... saying things like "I'll never be able to afford a house" whilst they drive a $40k done up car", but this does not seem to either be what these guys are doing, nor what they are suggesting... I
I was talking generally - knowing what you can afford v buying something because you want it but can't really afford it.
Consumer credit slaves are created all the time.
It's the reason why poor people have expensive things.
And VYB, I wasn't referring to people like you.
Neither is your personal situation similar to the OP, nor was I referring to your personal situation. My comments were general comments in response to your supposed point of new vs old.
And if you are happy to drive a toaster that is fine. Just keep out of my way
Do you think all cars which aren't new or flashy are toasters?
My point wasn't about being able to afford or not. It was about making making correct financial decisions especially IF cars are not your passion!
Neither is your personal situation similar to the OP, nor was I referring to your personal situation. My comments were general comments in response to your supposed point of new vs old.
Do you think all cars which aren't new or flashy are toasters?
Who cares ?
In a book by Mario Puzo, I think it was The Last Don, the mafia Don was proud of the fact that he had never eaten mozzarella which was more than 1 hour old (for those who do not know, mozzarella is a FRESH cheese, the fresher the better)....
What do you think his opinion of what Pizza Hut or supermarkets serve up as mozzarella ?
Regarding your last post, I don't think anyone was suggesting SPEND MORE THAN THEY SHOULD... I thought they were just saying there are things in life that sometimes it's worth splashing out on, cause it's life not a financial success competition at the expense of living. Some aren't into cars, of course we're not all into cars... Some of the car guys might not like watches like I remember a forum member posting about ages ago .. someone else might think holidays overseas are a waste of money when they could invest $10k instead etc
Isn't the world a diverse & wonderful place ?
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