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07-29-2016, 08:38 PM | #1 |
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Why I buy CHEAP BMW's!!!
This video is in response to a comment I received on what he thought was the reason why I buy used cheap BMW's. Well....he was only partially correct
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07-29-2016, 09:45 PM | #2 |
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Kidding aside... I'm cheap too. Bought mine used as well but saying you make 6 figs is irrelevant. I honestly think It's more of a personal choice really. I also make 6 figs and I totally agree with you in being smart with your money. I was dumb with money when I was younger and as I age and start to own properties, that's where reality start to kick in. Bottom line is people like fancy things and they will use their money as they wish. It's what they make themselves happy. I don't think they're stupid, it's their choice. Ultimate first world problems.
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07-30-2016, 12:53 AM | #3 | |
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Good to know I'm not the only one. I think most people fit into our category. You're right the money means nothing. But for some odd reason I felt compelled to at least mention it so people can understand that people aren't making $20,000 affording M3's. I think it's crazy people say childish comments without knowing anything about the person. That's why I mentioned nobody is stupid for buying a new car, it's just not the smartest thing to do.
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07-31-2016, 08:03 AM | #4 |
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An M3 is an enthusiasts car, especially in the used market! If one does their due diligence and fully understands the real cost of one of these, have at it!! To me, driving is my passion and that's all the consideration I need. lol
Just be smart about it.
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07-31-2016, 09:50 AM | #5 |
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I like to buy used as well. Example...I purchased a 2012 v6 mustang (6 speed) for my son earlier this year. 19,000 miles and was a trade in at the original dealership that sold it new back in 2013 (still a cream puff). New price = $30k. My price used $13,750. That means the depreciation was over $.85 a mile! We threw some new car air freshener in and called it a winner.
Two weeks ago I picked up a new Jeep Grand Cherokee for my wife. Why? Because a happy wife is a happy life, and you just can't put a price on happiness (unless you buy cars and then its about $40k - lol)! |
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07-31-2016, 12:07 PM | #6 |
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I have some people in my family who are extremely well off financially. None of them buy new except for one person. Unless it's an appreciating new car, there's no sense in pissing away tens of thousands when buying new when a 2-3 year old used version will be 99% as nice as the new one for 30% less the cost...
Then again, to each their own.
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07-31-2016, 02:05 PM | #7 | |
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Course, all that is contingent upon the person keeping the car for many years and miles.
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08-01-2016, 09:41 AM | #8 |
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My wife and I stopped buying new cars many years ago. Since then we have purchased steeply discounted demonstrators, loaners, and certified pre-owned cars. Why? Because to do otherwise is flushing money down the toilet, and as much as I love cars it isn't my only passion.
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08-01-2016, 09:46 AM | #9 |
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I always thought that Hondas and Toyotas in the 20k range are best bought new because there isn't much price depreciation after 3-4 years even with a ton of miles. And those are usually for the lady to drive so happy wife. But something like a M3 or a 911. One can save nearly half the price of the car buying it 4-5 years old. I know I did on my M3. 70k new, just 39k 4.5 years and 27k miles later one owner who changed oil and brake fluid every year. He even did the spark plugs at 18k miles. The problem is having to wait haha
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08-03-2016, 10:45 PM | #11 |
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Right about that!!! I even said it a few times!
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08-03-2016, 10:46 PM | #12 |
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I was feeling red that day!!! HAHA! My new video I have on white! HAHA!
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08-03-2016, 10:48 PM | #13 | |
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08-03-2016, 10:49 PM | #14 | |
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08-03-2016, 10:54 PM | #15 | |
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08-03-2016, 10:55 PM | #16 | |
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08-03-2016, 10:56 PM | #17 | |
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08-05-2016, 10:27 AM | #18 |
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There are cars for people and people for cars. One of my clients have a RR collection edition that he payed over $700K and on the other side of the garage he has a Bentley whatever that he payed $400K. Well.... that's another world. This guy does not have any credit. Happy wife (deep pocket), nice house, travels 3 -4 times a year....what else? Guy is seriously ill!!!! Believe it or not. Nice guy by the way.
Step a notch down....there are guys our there that can afford a brand new M3-4 and it won't take away anything from them. They will still travel, happy wife, good living. Step a notch down....I'm with this guy. Could I afford a lease payment of 1,500? No problem. Will I do it? No. I won't be traveling, no cash to buy small toys, no restaurants, paying rent, no money to buy stocks...bottom line, a big NO. Let the big guys (deeper pockets) buy the new cars. I will still be happy with a 3-4 year old car, specially a BMW with 25K miles. Sport cars depreciate 50% in the first 3 years. That is the residual value on a lease of a sport car. 50%!!!! Wow. So let's go a buy a $80K car. 3 years went buy now the car is worth $40!!!!. You just lost $40K plus around $10k in taxes and fees. My friend has a deeper pocket than me. That's ok. I think he works too much. Wife has had several "adventures", kids are a fucking mess but the guy thinks that having money is more important. It's true. He lives in a very nice house, housekeeper, nice restaurants, nice private golf club, very nice clothes, but does he travel? Not that much. Happy family? I don't think so. He is a nice guy and the best is that he buys NEW sport car. So when I like one I will just tell him to save it for me. Good for the guys that make a bunch of money and are happy. I do not make that much but still I'm with is a happy wife!!!!! |
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08-05-2016, 09:15 PM | #19 |
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"Good for the guys that make a bunch of money and are happy."
Great points all around. I agree with 98% with the "buy used" mantra with two exceptions: 1) I think that every man, who believes himself to be an enthusiast, and works his ass off his for the majority of his life, deserves ONE brand-new, built to spec, sports car during his life. Just one. 2) I always buy used for myself and lease something for the wife every 3-4 years. This keeps her happy and most importantly, quiet.
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08-05-2016, 11:18 PM | #20 | |
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08-06-2016, 04:21 PM | #21 | |
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08-06-2016, 04:27 PM | #22 | |
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#2....don't know if I could lease. I just feel like it's throwing money away. But I know people that do lease, so regretted it some enjoy it. Just not my cup of tea.
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