Re: Why do people spend so much time and money on cars?
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Because this is America and Americans are dumb and shallow.
I fully agree with you. Nothing dumber than financing a $70K Beamer and trading it in for $5K after driving it for 5 years and putting 100K miles on it.
This doesn't apply to people who purchase old beat up cars to fix up as investments. Those people are cool, and smart.
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This was stated earlier but I will repeat it, people don't buy cars as an investment. It isn't investment, they enjoy high quality automobiles.
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Checkraise, this is precisely what makes them dumb. You should think of every dollar you spend as an investment. If a purchase is not an investment, then it should be strictly for utility.
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Geez, so people shouldn't buy that shirt they like, they should get a Walmart one, and those nice golf clubs, better by the Costco set instead.
Never spend any money on something that is not an investment and not used for utility?
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Yes, and nobody should eat at a restaurant or fast food joint because it's cheaper to by the ingredients at a grocery store and make the food yourself...
But, that's still a waste because you should live off the land and grow your own crops. Dig a well and you're set for life.
Vacations (air, hotel, car rental), movies, sporting events, amusement parks and any recreational activity would also be a waste of money. You should use this time to work a 2nd job to make more money to invest to make even more money.
People need to balance current and future goals.
I paid cash for my nice little sports car and make full use of it. I've never regretted this decision. If anything, I would have bought more cars.
I know guys who saved $ their whole lives and finally decided to buy their 'dream car'. But because they're in their late 50's, early 60's they now look stupid driving their 'dream car'. A ton of money at 60 can't buy the fun I've had with my meager bankroll in my 30's-40's.
I believe that if those posting in this thread were 30y.o., single and had a solid six-figure income with comparable savings, this thread would read very differently.
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