View Poll Results: Can you buy a $50,000+ car easily? ($1000.00+ monthly payment)
Easily Afford, but I love my SC300/400 too much
85
13.82%
Easily Afford, Other reasons why I don't buy a new car
60
9.76%
Can afford but would be tight on cash afterwards
108
17.56%
Can't afford yet, but will be able to soon
63
10.24%
No, can not afford
299
48.62%
Voters: 615. You may not vote on this poll
How many SC300/400 owners can buy a $50,000.00 car?
05-08-06, 05:21 PM
#61
Originally Posted by Memphisacc
IDK the title of the thread did say 'buy,' not who can make payments for the next 5 years on a $50,000 dollar car, but i do now see where it says "($1000.00+ monthly payment)"
Ryan
05-09-06, 06:21 AM
#62
Intermediate
Originally Posted by SC400TT
The vast majority of people do not own their cars...The banks do.
Ryan
Ryan
For the last 8 years we lived that way until we realized that debt is a major detractor to building wealth. We've since paid off all of our cars, and only have mortgage debt left. We're now going to get that paid off too in a few years. We have made the decision to only buy things cash, no matter how large or small the purchase.
Take it from someone who's made a lot of dumb mistakes..if you can't afford it in cash, in full, you can't afford it!!!!
05-09-06, 06:56 PM
#63
Pole Position
Join Date: Jan 2006
Location: Co
Posts: 267
Likes: 0
Received 0 Likes
on
0 Posts
I could deffently not afford a 50k car, it took me 10years of working to buy my SC300 and im only 17. Gota love working on the family farm and geting payied what and when my dad sees fit lol. As for Fords blah.....Dodge is the way to go, I love our cummin's turbo diesel and even more so when im pulling a 35 foot trailer stacked 8 high of haybales. I don't mind not having a regular job though our garage is full of things to keep me happy. 2 FD's, 69 AMX, SC 430, ES300, my SC 300 then a bunch of other random vehicles.
05-09-06, 07:25 PM
#64
Lexus Champion
Nowadays, it's not difficult at all for me to do so.
But when you've finally reached this point, I think the more appropriate consideration to make would be: "How many more $50k car worth of monthly payments can you save for other purposes?".
When I see my colleagues rolling into the office parking lot with their new Mercs., Bimmers and Jags, I feel just as comfortable in my well maintained SC4, which already has a great deal of wearable OEM parts replaced with new ones.
Jon
But when you've finally reached this point, I think the more appropriate consideration to make would be: "How many more $50k car worth of monthly payments can you save for other purposes?".
When I see my colleagues rolling into the office parking lot with their new Mercs., Bimmers and Jags, I feel just as comfortable in my well maintained SC4, which already has a great deal of wearable OEM parts replaced with new ones.
Jon
Originally Posted by IronCobra
Actually Afford generally means that by purchasing the car you wouldn't have to give up your current standards of living and the payment(s) would not create a significant burden on your finances.
05-09-06, 08:15 PM
#65
Lexus Champion
Thread Starter
Originally Posted by Baby ///M3
Nowadays, it's not difficult at all for me to do so.
But when you've finally reached this point, I think the more appropriate consideration to make would be: "How many more $50k car worth of monthly payments can you save for other purposes?".
When I see my colleagues rolling into the office parking lot with their new Mercs., Bimmers and Jags, I feel just as comfortable in my well maintained SC4, which already has a great deal of wearable OEM parts replaced with new ones.
Jon
But when you've finally reached this point, I think the more appropriate consideration to make would be: "How many more $50k car worth of monthly payments can you save for other purposes?".
When I see my colleagues rolling into the office parking lot with their new Mercs., Bimmers and Jags, I feel just as comfortable in my well maintained SC4, which already has a great deal of wearable OEM parts replaced with new ones.
Jon
Though there are times when I question if a new GS430 would look good in my driveway
05-09-06, 08:30 PM
#66
Lexus Champion
Nothing wrong with that.
As for me, only if Lexus had made the IS500 coupe or even the IS350 two door.... I probably would've gone to the dark side for good.
Jon
As for me, only if Lexus had made the IS500 coupe or even the IS350 two door.... I probably would've gone to the dark side for good.
Jon
Originally Posted by IronCobra
I completely agree with you!!
Though there are times when I question if a new GS430 would look good in my driveway
Though there are times when I question if a new GS430 would look good in my driveway
05-09-06, 08:33 PM
#67
Intermediate
Originally Posted by Baby ///M3
Nowadays, it's not difficult at all for me to do so.
But when you've finally reached this point, I think the more appropriate consideration to make would be: "How many more $50k car worth of monthly payments can you save for other purposes?".
When I see my colleagues rolling into the office parking lot with their new Mercs., Bimmers and Jags, I feel just as comfortable in my well maintained SC4, which already has a great deal of wearable OEM parts replaced with new ones.
Jon
But when you've finally reached this point, I think the more appropriate consideration to make would be: "How many more $50k car worth of monthly payments can you save for other purposes?".
When I see my colleagues rolling into the office parking lot with their new Mercs., Bimmers and Jags, I feel just as comfortable in my well maintained SC4, which already has a great deal of wearable OEM parts replaced with new ones.
Jon
I know many fellow pharmacist's making well over $100k that are living paycheck to paycheck. Many of them are over 60 and are still working because they HAVE to, not because they want to. These guys spend every dime they make, and don't have anything to show for years of hard work.
05-09-06, 08:44 PM
#68
Lexus Champion
Thank you for agreeing with my humble opinions. And yes, the excellent example you cited describes so many of us out there, who perhaps make a six digit income but also carry a six or even seven digit debt.
Here in Southern California, I've seen plenty of kids (and even young adults like me) with their "modded" to the max, highly powered, and high dollar rides all over the place. The problem is, I know for a fact that some of these people do not even belong in the appropriate financial status/class to be driving around in these cars.
On the other hand, I've also seen a lot of practical people whom I look up to very much. This particular Cuban lawyer from my office, for example, has been driving around in a beat up Ford Contour to work but in reality, everyone knows that he's making just as much money as me and my other colleagues.
I wish my spoiled butt could have done so someday.
Jon
Here in Southern California, I've seen plenty of kids (and even young adults like me) with their "modded" to the max, highly powered, and high dollar rides all over the place. The problem is, I know for a fact that some of these people do not even belong in the appropriate financial status/class to be driving around in these cars.
On the other hand, I've also seen a lot of practical people whom I look up to very much. This particular Cuban lawyer from my office, for example, has been driving around in a beat up Ford Contour to work but in reality, everyone knows that he's making just as much money as me and my other colleagues.
I wish my spoiled butt could have done so someday.
Jon
Originally Posted by RPH74
I know many fellow pharmacist's making well over $100k that are living paycheck to paycheck. Many of them are over 60 and are still working because they HAVE to, not because they want to. These guys spend every dime they make, and don't have anything to show for years of hard work.
Last edited by Baby ///M3; 05-09-06 at 08:56 PM.
05-09-06, 10:09 PM
#69
Driver
Join Date: Mar 2002
Location: CA
Posts: 160
Likes: 0
Received 0 Likes
on
0 Posts
This thread is interesting. Is the real question: How much do CL SC owners make? 6 figures, etc.?
A lot of professionals lost a lot in the stock market crash and had to come out of retirement. In addition, I'm sure when you're making good money, your lifestyle changes( for the most part) and it's difficult to go back. Maybe they have mortgages, kids tuition, etc.
In Socal, it's easy to be in debt. Buy a home. Not saying there are not inexpensive ones, but houses are tremendously expensive. If you already have a home and have paid it off, good for you (you're lucky). Mortgages are good tax shelters. If you're in the 40% tax bracket, you're screwed.
In the end, to each their own. Who cares how the other has his car: lease, payment, cash down? Let people enjoy. If you're successful, it shows through and you don't need to show your bank statement to prove it. I know plenty of people making BIG money driving old cars.
Sorry, sorta side tracked. SC's are nice cars for everybody to enjoy, bottom line.
A lot of professionals lost a lot in the stock market crash and had to come out of retirement. In addition, I'm sure when you're making good money, your lifestyle changes( for the most part) and it's difficult to go back. Maybe they have mortgages, kids tuition, etc.
In Socal, it's easy to be in debt. Buy a home. Not saying there are not inexpensive ones, but houses are tremendously expensive. If you already have a home and have paid it off, good for you (you're lucky). Mortgages are good tax shelters. If you're in the 40% tax bracket, you're screwed.
In the end, to each their own. Who cares how the other has his car: lease, payment, cash down? Let people enjoy. If you're successful, it shows through and you don't need to show your bank statement to prove it. I know plenty of people making BIG money driving old cars.
Sorry, sorta side tracked. SC's are nice cars for everybody to enjoy, bottom line.
05-10-06, 01:22 PM
#70
Intermediate
Originally Posted by Baby ///M3
Thank you for agreeing with my humble opinions. And yes, the excellent example you cited describes so many of us out there, who perhaps make a six digit income but also carry a six or even seven digit debt.
Here in Southern California, I've seen plenty of kids (and even young adults like me) with their "modded" to the max, highly powered, and high dollar rides all over the place. The problem is, I know for a fact that some of these people do not even belong in the appropriate financial status/class to be driving around in these cars.
On the other hand, I've also seen a lot of practical people whom I look up to very much. This particular Cuban lawyer from my office, for example, has been driving around in a beat up Ford Contour to work but in reality, everyone knows that he's making just as much money as me and my other colleagues.
I wish my spoiled butt could have done so someday.
Jon
Here in Southern California, I've seen plenty of kids (and even young adults like me) with their "modded" to the max, highly powered, and high dollar rides all over the place. The problem is, I know for a fact that some of these people do not even belong in the appropriate financial status/class to be driving around in these cars.
On the other hand, I've also seen a lot of practical people whom I look up to very much. This particular Cuban lawyer from my office, for example, has been driving around in a beat up Ford Contour to work but in reality, everyone knows that he's making just as much money as me and my other colleagues.
I wish my spoiled butt could have done so someday.
Jon
You should read "The Millionaire Next Door" or Dave Ramsey's "Total Money Makeover", if you haven't already. Both are great reading that I know you'd enjoy. I was surprised to learn that most millionaires don't live in upscale neighborhoods ,or drive nice new cars. They obsess with building wealth rather than accumulating material possessions that make them "look" good.
05-10-06, 01:30 PM
#71
Intermediate
Originally Posted by RADSC
A lot of professionals lost a lot in the stock market crash and had to come out of retirement. In addition, I'm sure when you're making good money, your lifestyle changes( for the most part) and it's difficult to go back. Maybe they have mortgages, kids tuition, etc.
In Socal, it's easy to be in debt. Buy a home. Not saying there are not inexpensive ones, but houses are tremendously expensive. If you already have a home and have paid it off, good for you (you're lucky). Mortgages are good tax shelters. If you're in the 40% tax bracket, you're screwed.
People don't want to save up for things, they want them NOW, so they do stupid things like getting into debt. I know, because I was once one of those people. I've since changed my ways, and can say that my life is a lot less stressful nowadays without any debt (except my house). The borrower is slave to the lender.
On another note, you're so right about Socal. How can any young whipper-snapper expect to afford a home when you need at least $500,000 to get one? It's hard to imagine your real estate market from my vantage point in MO.
05-12-06, 09:46 PM
#72
Lexus Champion
Thanks for the recommendation!
I am going to check them out when I stop by Barnes next time.
There's a Chinese proverb that states, "One must spend his money on the edge of the blade."
It literally means that as long as necessity dictates, it's not wrongful to spend your hard earned money no matter how high the cost is. On the other hand, when the expense is not necessary, spending even one cent would be considered unjustifiable.
It's unfortunate that at least one self-proclaimed old timer from this board who bad mouthed me a couple of weeks ago over a business transaction that was not to his concern did not understand this rationale.
Jon
I am going to check them out when I stop by Barnes next time.
There's a Chinese proverb that states, "One must spend his money on the edge of the blade."
It literally means that as long as necessity dictates, it's not wrongful to spend your hard earned money no matter how high the cost is. On the other hand, when the expense is not necessary, spending even one cent would be considered unjustifiable.
It's unfortunate that at least one self-proclaimed old timer from this board who bad mouthed me a couple of weeks ago over a business transaction that was not to his concern did not understand this rationale.
Jon
Originally Posted by RPH74
You should read "The Millionaire Next Door" or Dave Ramsey's "Total Money Makeover", if you haven't already. Both are great reading that I know you'd enjoy. I was surprised to learn that most millionaires don't live in upscale neighborhoods ,or drive nice new cars. They obsess with building wealth rather than accumulating material possessions that make them "look" good.
05-13-06, 03:47 AM
#73
Intermediate
Originally Posted by Baby ///M3
Thanks for the recommendation!
I am going to check them out when I stop by Barnes next time.
There's a Chinese proverb that states, "One must spend his money on the edge of the blade."
It literally means that as long as necessity dictates, it's not wrongful to spend your hard earned money no matter how high the cost is. On the other hand, when the expense is not necessary, spending even one cent would be considered unjustifiable.
It's unfortunate that at least one self-proclaimed old timer from this board who bad mouthed me a couple of weeks ago over a business transaction that was not to his concern did not understand this rationale.
Jon
I am going to check them out when I stop by Barnes next time.
There's a Chinese proverb that states, "One must spend his money on the edge of the blade."
It literally means that as long as necessity dictates, it's not wrongful to spend your hard earned money no matter how high the cost is. On the other hand, when the expense is not necessary, spending even one cent would be considered unjustifiable.
It's unfortunate that at least one self-proclaimed old timer from this board who bad mouthed me a couple of weeks ago over a business transaction that was not to his concern did not understand this rationale.
Jon
He is my motivation for budgeting and getting our house paid off. I can thank that show for making my wife and I change our ways about money. Whenever I get the urge to do something stupid, I always think of his line "Live like no one else, so later you can live like no one else". Meaning if you will sacrifice now (and pay off your debt), you will win later. We listen to the show so much that my 2 year old now says "Debt is dumb, cash is king".
You can also stream it online at anytime (he archives his shows).
http://daveramsey.com/
Last edited by RPH74; 05-13-06 at 03:55 AM.
05-15-06, 08:40 PM
#74
Lexus Champion
Thanks for the recommendation. I'll check out Dave's show as well.
My motivation for being debt free also comes from another Chinese proverb: "Monies have four legs and we have only two."
The lesson I learned from this proverb is that while some people choose to accumulate debts and slowly pay off the interests with hard labor, it's going to be a life-time long marathon for these people to even start building wealth.
Instead, the more sensible thing for me to do is to concentrate on paying off all my debts first. In the long run, I'll just sit back and have my four legged buddies chase after their own kind. If you know what I mean…..
Jon
My motivation for being debt free also comes from another Chinese proverb: "Monies have four legs and we have only two."
The lesson I learned from this proverb is that while some people choose to accumulate debts and slowly pay off the interests with hard labor, it's going to be a life-time long marathon for these people to even start building wealth.
Instead, the more sensible thing for me to do is to concentrate on paying off all my debts first. In the long run, I'll just sit back and have my four legged buddies chase after their own kind. If you know what I mean…..
Jon
Originally Posted by RPH74
Good stuff man. Hey, if you have satellite radio, you should also listen to "The Dave Ramsey show". It's a radio talk show about life and money, as opposed to most shows which are just about money. He's real big on living a debt free lifestyle, and he has sound advice. He's an entertaining and motivational southern guy, not your regular financial guy you're used to hearing.
He is my motivation for budgeting and getting our house paid off. I can thank that show for making my wife and I change our ways about money. Whenever I get the urge to do something stupid, I always think of his line "Live like no one else, so later you can live like no one else". Meaning if you will sacrifice now (and pay off your debt), you will win later. We listen to the show so much that my 2 year old now says "Debt is dumb, cash is king".
You can also stream it online at anytime (he archives his shows).
http://daveramsey.com/
He is my motivation for budgeting and getting our house paid off. I can thank that show for making my wife and I change our ways about money. Whenever I get the urge to do something stupid, I always think of his line "Live like no one else, so later you can live like no one else". Meaning if you will sacrifice now (and pay off your debt), you will win later. We listen to the show so much that my 2 year old now says "Debt is dumb, cash is king".
You can also stream it online at anytime (he archives his shows).
http://daveramsey.com/
