How much to spend on a nice first car? - Page 10

El Diablo · #91 09-05-2007, 02:01 PM

Met (or whoever),

Rather than continuing on in this thread, one of you guys should start a "US Tax for Pro Poker Players" thread to discuss that kind of stuff further.

TheWorstPlayer · #92 09-05-2007, 04:14 PM

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I had a $50k BMW at one point and really hated the thing even though it was a nice car. The problem was it just wasn't anything that cool, and if you're spending a lot of money you should get something you realllly like. I just felt like I would have rather gotten a $10,000 Honda or something.

Now I drive the Bentley which after all the work I put into it comes to $200k or so but it's just so ridiculously sick that I'm vvvv pleased with the purchase. Really I have a blast every time I take it for a drive.

So basically my advice would be to buy from a dealership that you like and are comfortable with, do not feel rushed into buying something that you just "kinda like" and instead find something that is just too damn sick to not buy. And if nothing gives you that feeling just pick up something cheap.

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What did you do to it? Can you start a new thread on car mods, please? With pics?

Clayton · #93 09-05-2007, 05:19 PM

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Yeah, seriously. WTF Clayton?

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N, m: FWIW, I loved Atlanta when I was there in my early 20s.

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I am biased because I have lived within 1 hour of ATL my entire life and I really want to go somewhere else within 2 years. What many find appealing with Atlanta I have become kinda tired of.

mmbt0ne · #94 09-05-2007, 06:40 PM

Dude, didn't you like just turn 21?

ThaHero · #95 09-05-2007, 08:37 PM

I'm just as confused. I love ATL and that would be one of the only places I would even consider moving to if I ever wanted to move out of L.A.

FWIW I am 23 and in the camp of buy something modest and invest the rest. I'd also use some for a bigger roll. I never did think of you as a bad player but I'm sure you know your limitations better than most. But if you can get to the point where you can make 100k a month does it really matter what car you buy?

guids · #96 09-05-2007, 08:39 PM

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I had a $50k BMW at one point and really hated the thing even though it was a nice car. The problem was it just wasn't anything that cool, and if you're spending a lot of money you should get something you realllly like. I just felt like I would have rather gotten a $10,000 Honda or something.

Now I drive the Bentley which after all the work I put into it comes to $200k or so but it's just so ridiculously sick that I'm vvvv pleased with the purchase. Really I have a blast every time I take it for a drive.

So basically my advice would be to buy from a dealership that you like and are comfortable with, do not feel rushed into buying something that you just "kinda like" and instead find something that is just too damn sick to not buy. And if nothing gives you that feeling just pick up something cheap.

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What did you do to it? Can you start a new thread on car mods, please? With pics?

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I see that he didnt, so I will, as Im assuming if you have 200k to blow on a bentley, you probably arent doing the work yourself.

prohornblower · #97 09-05-2007, 10:35 PM

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Wow, it's hard to believe how many people are advocating buying a used car... that's a great way to get a car with defects that someone didn't want.

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This has no bearing on whether or not I want it. People value things differently. This is why markets are inefficient. Procuring an item that you value greatly from someone who undervalues said item is a winning transaction.

Also, take two examples: A) A 2 year old car with 30K miles for $12K
B) A new car with 0 miles for $22K. You plan on keeping either car until it has, say 130K miles on it.

Car A, you've purchased 100K miles for $12K, or 8,333 miles driven per thousand spent.
Car B, you've purchased 130K miles for $22K, or 5,909 miles driven per thousand spent.

Car A is a 41% greater value. So what if it's 2 years older? In either case, after 4 years, the difference is you are driving either a 6 year old car, or a 4 year old car. Big difference ZOMG!!11!

Josem · #98 09-05-2007, 10:53 PM

i really want to avoid hijacking this thread, but I feel that's a really bad example of market inefficiency.

the whole point of a free market is that people value things differently. A pen salesman, who has surplus pens, would like to get rid of his pen, and to obtain money. A pen purchaser would like to give money to obtain a pen. That's a winning transaction to both parties.

The same thing applies to used cars; The seller has a surplus car. The purchaser needs a car. The free market puts these two people together and makes both people happy.

prohornblower · #99 09-05-2007, 11:40 PM

I don't know. He brought up the point that someone "doesn't want" the car. I took that to mean the seller is undervaluing the car due to their own bias. The buyer of the "unwanted" car might be able to seize a golden opportunity. I'm probably reading too much into it, but whatever. My main point was that there is a lot of value in used cars.

guids · #**100** 09-05-2007, 11:48 PM

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I don't know. He brought up the point that someone "doesn't want" the car. I took that to mean the seller is undervaluing the car due to their own bias. The buyer of the "unwanted" car might be able to seize a golden opportunity. I'm probably reading too much into it, but whatever. My main point was that there is a lot of value in used cars.

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I took it to understand that the defects were of a mechanical nature, and that they were of the type that NO ONE would want. But, in that case, if you dont get a car fax and a mechanics inspection fo a used car you are an idiot to begin with. If he wasnt talking about mechanical defects, than prohorn basically summed up why a used car is better.