If you won the lottery today...
#78
Lexus Fanatic
#79
Lexus Champion
I'm not exactly sure, but I do know I'd have a helluva good time test driving!
#80
Super Moderator
LFA Nurburgring edition the only car for the rest of your life , be prepare to hire a taxi/ limo 99% of the time, that car is meant for the track, it is so low that any speed bump can be a problem if you go over at any significant speed, it will be scratches galore, on that precious carbon fibre underside .......
#82
Lexus Champion
Thread Starter
Since you said its the last car you ever get to buy for the rest of your life . . . . Maybe I won't wear it out and be walking by the time I hit middle age if I buy one of these in middle east spec with the diesel and clutch pedal . . . .
#84
and could only buy one car for the rest of your life, which car would you choose and why?
the car does not have to be new
the car does not have to be used
the car has to be functional at the time of purchase
the car will be your daily driver
you cannot turn around and sell the car you just bought in order to buy another
if you are married, this car will be your family's sole vehicle
you can only buy one car!
GO!
the car does not have to be new
the car does not have to be used
the car has to be functional at the time of purchase
the car will be your daily driver
you cannot turn around and sell the car you just bought in order to buy another
if you are married, this car will be your family's sole vehicle
you can only buy one car!
GO!
#86
Pole Position
The car has to last until I die? And I can't get any additional cars? If I won the lottery I could theoretically afford to maintain it until I die right? Honestly I'd just keep the car I have, F8 M3. It's a 4 door sedan, so no problems with versatility. It's fast. It's not too conspicuous like a Lambo, so I can park it in the ghetto with less issues. It's a DCT so I won't have to drive a manual when I'm too old to. I think it looks great. I'd probably just option out a new one to the max and get an individual color. Maxed out M3 is $100k so not too expensive, yet not a "cheap" car. I might be biased though, the M3 was my dream car since I learned how to drive. If I weren't limited by these stipulations though, Porsche GT3 or Turbo, and another daily. Or a Ferrari.
#87
Out of Warranty
After reading over this thread, I've been thinking about a slightly different approach . . . preservation of capital. OK, I'm the responsible one . . . . What if you hit the powerball or a relative leaves you Scrooge McDuck's gold vault in his will. Suddenly you're rich beyond your wildest imagination, what do you do?
First, you line up your dream team of experts in tax law, investment, insurance, and estate planning. Then you listen to their advice. Select your dream team from among major firms, not good ol' Cecil from down the block who had a big day at the track. Remember all those rock stars and hall of fame athletes who once mega-millionaires, are now flat broke thanks to their penchant for fast cars and faster women - and beware. They didn't think they were being incredibly stupid either, but it's almost inevitable that a fool and his money are soon parted.
There are several other basic tenets involved here, but first is to examine the ways you use - or would like to use a car. It's not just for racing around public roads (that will get you buried in tickets, if not outright buried in the first place), but while a stable of expensive exotics is tempting, you'd probably gravitate toward one or two examples that you really like. But, given a car or two to play with, ones that are totally impractical, what else would you have in your stable?
A DD is going to be a must. Something you can drive to the supermarket and not worry too much about that $20K paint job when someone opens a door into your flank. What about a car for a night on the town - something that won't embarrass you when you arrive at the theater on premiere night? Can you leave it with a valet and not sweat bullets through the entire performance that he's not out hooning around in your megabuck ride? How about a car for touring, or the beach, or a drive in the mountains during ski season? Not too many vehicles will fulfill your needs in all applications, so you have to prioritize your choices.
Now we come to the real issue - the first law of personal economics: You don't ever want to own a depreciating asset. That means you can buy land, build your dream house, and be relatively certain that if you sell in ten or twenty years that you haven't lost money on the deal. In general, cars are a very poor investment except for one notable exception I'll address in a moment.
We all know you take a bath when you drive your new car off the lot. Over the years, your car will continue to depreciate to the point that it makes no financial sense to ever BUY a car. You lease cars, yachts, private airplanes, or other properties that decrease in value over time. Sure, you're going to spend a lot of money on leasing something that will disappear in a matter of a few years with NO residual value, but it is (or should be) a great deal less than what you'll lose at trade-in time.
If you want to buy an expensive car, you need to think of it as an investment. Sure, your personal enjoyment of a new Ferrari is to be considered, but it only lasts until the next model arrives and you are stuck with "old and busted". That's why practically all automotive investments have a track record of auction sales - so they're at least 25 years old. If you lease a new car, at least you have a handle on your money - you can limit your losses while watching those big bucks run away from you. Think instead about buying a collector car that can appreciate significantly over time, one whose cash value has bottomed out (although still expensive) and is due for a serious rise in value.
Rare examples are almost always a good buy - IF they have some kind of significance in automotive history. Classics like Duesenbergs, Delahaye, Bugatti and Pierce Arrows command ever-higher seven and eight figure prices at auction, but you needn't stick with pre-war classics - well restored muscle cars from the '60's and '70's can be a great investment returning considerably more than their purchase price as time goes on - besides, they're fun.
Better yet, invest in a car with a documented racing record or former celebrity ownership - it will appreciate faster than practically any other wheeled vehicle you can name. IF you have the provenance, that your car was formerly owned, or raced by Steve McQueen, Paul Newman, Carroll Shelby, or any famous racer from history . . . if your car garnered a podium finish at Le Mans or Sebring, you have a big winner . . . literally worth millions in today's market. If you invest wisely, you end up with a car that you can occasionally drive for fun on public roads. Just remember it's your gold mine, so drive carefully and insure heavily.
That brings up a final question - maintenance. Most exotics are maintenance pigs - you don't just go out to the driveway and hop in whenever you want an internal combustion thrill. Exotics require service on a regular basis to protect your investment . . . and often that service comes with mind-bending bills. If you are determined to own a collection of cars, consider hiring a mechanic just like you would a housekeeper. Unless you want to spend your life polishing, changing oil, checking batteries, starters, and reading OBDII data like your morning newspaper, you're going to need professional help. Remember your full-time job now is to make money to fund all of your toys, not to tinker with them. Only you can sign the checkbook - anybody can rub the paint. Do what you do to make the money to pay the experts to do what they do best. That way, everybody gets a better deal.
When you consider the duties that a millionaire has to perform to remain a millionaire, you quickly realize you're not a person anymore, you are a corporation - one with employees, responsibilities and allegiances to your immediate family, your descendants, and through the charities you support, the world at large. It's not easy having green.
First, you line up your dream team of experts in tax law, investment, insurance, and estate planning. Then you listen to their advice. Select your dream team from among major firms, not good ol' Cecil from down the block who had a big day at the track. Remember all those rock stars and hall of fame athletes who once mega-millionaires, are now flat broke thanks to their penchant for fast cars and faster women - and beware. They didn't think they were being incredibly stupid either, but it's almost inevitable that a fool and his money are soon parted.
There are several other basic tenets involved here, but first is to examine the ways you use - or would like to use a car. It's not just for racing around public roads (that will get you buried in tickets, if not outright buried in the first place), but while a stable of expensive exotics is tempting, you'd probably gravitate toward one or two examples that you really like. But, given a car or two to play with, ones that are totally impractical, what else would you have in your stable?
A DD is going to be a must. Something you can drive to the supermarket and not worry too much about that $20K paint job when someone opens a door into your flank. What about a car for a night on the town - something that won't embarrass you when you arrive at the theater on premiere night? Can you leave it with a valet and not sweat bullets through the entire performance that he's not out hooning around in your megabuck ride? How about a car for touring, or the beach, or a drive in the mountains during ski season? Not too many vehicles will fulfill your needs in all applications, so you have to prioritize your choices.
Now we come to the real issue - the first law of personal economics: You don't ever want to own a depreciating asset. That means you can buy land, build your dream house, and be relatively certain that if you sell in ten or twenty years that you haven't lost money on the deal. In general, cars are a very poor investment except for one notable exception I'll address in a moment.
We all know you take a bath when you drive your new car off the lot. Over the years, your car will continue to depreciate to the point that it makes no financial sense to ever BUY a car. You lease cars, yachts, private airplanes, or other properties that decrease in value over time. Sure, you're going to spend a lot of money on leasing something that will disappear in a matter of a few years with NO residual value, but it is (or should be) a great deal less than what you'll lose at trade-in time.
If you want to buy an expensive car, you need to think of it as an investment. Sure, your personal enjoyment of a new Ferrari is to be considered, but it only lasts until the next model arrives and you are stuck with "old and busted". That's why practically all automotive investments have a track record of auction sales - so they're at least 25 years old. If you lease a new car, at least you have a handle on your money - you can limit your losses while watching those big bucks run away from you. Think instead about buying a collector car that can appreciate significantly over time, one whose cash value has bottomed out (although still expensive) and is due for a serious rise in value.
Rare examples are almost always a good buy - IF they have some kind of significance in automotive history. Classics like Duesenbergs, Delahaye, Bugatti and Pierce Arrows command ever-higher seven and eight figure prices at auction, but you needn't stick with pre-war classics - well restored muscle cars from the '60's and '70's can be a great investment returning considerably more than their purchase price as time goes on - besides, they're fun.
Better yet, invest in a car with a documented racing record or former celebrity ownership - it will appreciate faster than practically any other wheeled vehicle you can name. IF you have the provenance, that your car was formerly owned, or raced by Steve McQueen, Paul Newman, Carroll Shelby, or any famous racer from history . . . if your car garnered a podium finish at Le Mans or Sebring, you have a big winner . . . literally worth millions in today's market. If you invest wisely, you end up with a car that you can occasionally drive for fun on public roads. Just remember it's your gold mine, so drive carefully and insure heavily.
That brings up a final question - maintenance. Most exotics are maintenance pigs - you don't just go out to the driveway and hop in whenever you want an internal combustion thrill. Exotics require service on a regular basis to protect your investment . . . and often that service comes with mind-bending bills. If you are determined to own a collection of cars, consider hiring a mechanic just like you would a housekeeper. Unless you want to spend your life polishing, changing oil, checking batteries, starters, and reading OBDII data like your morning newspaper, you're going to need professional help. Remember your full-time job now is to make money to fund all of your toys, not to tinker with them. Only you can sign the checkbook - anybody can rub the paint. Do what you do to make the money to pay the experts to do what they do best. That way, everybody gets a better deal.
When you consider the duties that a millionaire has to perform to remain a millionaire, you quickly realize you're not a person anymore, you are a corporation - one with employees, responsibilities and allegiances to your immediate family, your descendants, and through the charities you support, the world at large. It's not easy having green.
Last edited by Lil4X; 07-22-17 at 09:55 AM.
#88
Lexus Fanatic
iTrader: (20)
and could only buy one car for the rest of your life, which car would you choose and why?
the car does not have to be new
the car does not have to be used
the car has to be functional at the time of purchase
the car will be your daily driver
you cannot turn around and sell the car you just bought in order to buy another
if you are married, this car will be your family's sole vehicle
you can only buy one car!
GO!
the car does not have to be new
the car does not have to be used
the car has to be functional at the time of purchase
the car will be your daily driver
you cannot turn around and sell the car you just bought in order to buy another
if you are married, this car will be your family's sole vehicle
you can only buy one car!
GO!
#89
Pole Position
clever use of the funds but I can't help but wonder how you would forgo driving for pleasure for the rest of your life. Sure you may be able to use a friends car here and there but that isn't the same for a variety of reasons.
#90
Lexus Fanatic
Don't forget......bit supports the development of self-driving cars.