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re: Why do people tie up huge chunks of income in expensive vehicles?

Posted on 11/17/17 at 11:51 am to
Posted by yellowfin
Coastal Bar
Member since May 2006
98083 posts
Posted on 11/17/17 at 11:51 am to
Vehicles don't lose half their value in two years. Especially trucks and SUVs
Posted by TH03
Mogadishu
Member since Dec 2008
171512 posts
Posted on 11/17/17 at 11:52 am to
They do when you have my job and drive over 50k a year.
Posted by kciDAtaE
Member since Apr 2017
16402 posts
Posted on 11/17/17 at 11:54 am to
People spend their money in different ways. Doesn’t bother me.

Same case can be made, why do people eat out all the time instead of cooking? Why fly first class? Why buy designer clothes?
Posted by CAD703X
Liberty Island
Member since Jul 2008
81189 posts
Posted on 11/17/17 at 11:55 am to
LINK

30% depreciation for yukon in 2 years
40% in 4 years

you can nitpick but the fact is you lose a shitton of money on new cars due to depreciation in first few years.
This post was edited on 11/17/17 at 11:57 am
Posted by X123F45
Member since Apr 2015
28051 posts
Posted on 11/17/17 at 11:55 am to
quote:

So you had 4 fricking cars for 2 drivers?

Or am I missing something?




I still do.

Now they're paid for 4x4s and a bike.

Eta: they're. Not their.
This post was edited on 11/17/17 at 12:05 pm
Posted by CaptainsWafer
TD Platinum Member
Member since Feb 2006
58531 posts
Posted on 11/17/17 at 11:56 am to
Nitpick? I mean he was right and you just proved it's not 50% in 2-3 years.

Posted by shawnlsu
Member since Nov 2011
23682 posts
Posted on 11/17/17 at 11:57 am to
Just found my wife a 2017 SUV that a lady bought, put 350 miles on and traded in. That's the only way I will buy a vehicle. Did the same for my last 2 trucks. Under 1 year old with less than 10K miles. Let someone else take the initial hit and swoop in and scoop it up
Posted by tke857
Member since Jan 2012
12195 posts
Posted on 11/17/17 at 11:58 am to
Wife floated wanting to get the Range Velar. I shut that down with the quickness though. Women will push their limits that for sure.
Posted by Mo Jeaux
Member since Aug 2008
59752 posts
Posted on 11/17/17 at 11:58 am to
quote:

Nitpick? I mean he was right and you just proved it's not 50% in 2-3 years.


Posted by LSU fan 246
Member since Oct 2005
90567 posts
Posted on 11/17/17 at 11:59 am to
I don't treat regular cars as an investment
Posted by tke857
Member since Jan 2012
12195 posts
Posted on 11/17/17 at 11:59 am to
quote:

you can nitpick but the fact is you lose a shitton of money on new cars due to depreciation in first few years.



This is true but some people just like buying new. Someone's got to do it so all you leechin muthafrickers out there can buy used!
Posted by CaptainsWafer
TD Platinum Member
Member since Feb 2006
58531 posts
Posted on 11/17/17 at 12:00 pm to
And what if GOD FORBID you keep the car for 10 years?

Or what if you can afford it the depreciation and don't care?

Posted by rantfan
new iberia la
Member since Nov 2012
14110 posts
Posted on 11/17/17 at 12:01 pm to
Driving a car that you love is a freedom that only Americans really understand.
Posted by wheelr
Tired of the BS
Member since Jul 2012
5514 posts
Posted on 11/17/17 at 12:02 pm to
quote:

Why do people tie up huge chunks of income in expensive vehicles?


For someone I know, it is purely a good old baw status symbol.

They will say it is for pulling a camper but I believe that is just a status symbol too. It has only been used twice in two years.
Posted by jdeval1
Member since Dec 2009
7525 posts
Posted on 11/17/17 at 12:04 pm to
quote:

Vehicles don't lose half their value in two years. Especially trucks and SUVs

A used truck with like 20k isn't all that much cheaper than a new one with dealer incentives etc. The cheap used ones are a myth unless you find a deal on a private sale. I've been in the market lately.
Posted by Bunta
Member since Oct 2007
12346 posts
Posted on 11/17/17 at 12:06 pm to
quote:

The frick?

Naw I’m sayin?
Posted by Lsupimp
Ersatz Amerika-97.6% phony & fake
Member since Nov 2003
81306 posts
Posted on 11/17/17 at 12:10 pm to
One of the keys to long term wealth accumulation starting in your 20s and 30s is to divert that car money into retirement money . That requires that you subjugate your ego and need for cultural affirmation. So that rules out about 90% of Americans.
Posted by Lsupimp
Ersatz Amerika-97.6% phony & fake
Member since Nov 2003
81306 posts
Posted on 11/17/17 at 12:11 pm to
Derp
This post was edited on 11/17/17 at 12:15 pm
Posted by LNCHBOX
70448
Member since Jun 2009
85144 posts
Posted on 11/17/17 at 12:14 pm to
quote:

It's social media


This is such a stupid response. People have been buying nice cars for much longer than social media has been a thing.
Posted by CaptainsWafer
TD Platinum Member
Member since Feb 2006
58531 posts
Posted on 11/17/17 at 12:16 pm to
My grandpa used to tell me about all the Dusenbergs he saw all over Facebook in the 30s, right in the middle of the depression. Can you believe that!
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