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Message
re: Why do OT Ballers hate diamonds and new cars?
Posted on 4/23/18 at 9:40 am to RogerTheShrubber
Posted on 4/23/18 at 9:40 am to RogerTheShrubber
quote:
The value is simply in personal satisfaction of owning one, and it's frivolous.
This could be said about many things (clothes, shoes, cars, a large house, a certain kind of barbecue grill). Why is a diamond different?
1
Posted on 4/23/18 at 9:49 am to SlowFlowPro
quote:
as price increases, markup increases
Generally, as price increases, markup decreases (at least as a percentage of the price). Obviously, there are more actual dollars involved.
Posted on 4/23/18 at 9:55 am to Pecker
I’m no baller, but I’ve been out of debt for a while and when we need a vehicle, I search around and find one a year or two old that barely been driven and I write a check for it. My wife wanted a huge van for her and her friends and all the kids to be able to cruise around in and do whatever women and kids do during the day. I wasn’t dropping 50k for a new one, so I found a 2016 Ford Transit 15 passenger a couple states over with low miles on it, indistinguishable from a new one, for what I wanted to pay and brought cash. My theory on what I’ll pay for a cars is what I can sell it for after driving it for at least a year and never to finance anything.
It’s not in my nature to pay full price for anything and that won’t change no matter how much money I have.
It’s not in my nature to pay full price for anything and that won’t change no matter how much money I have.
Posted on 4/23/18 at 10:05 am to Pecker
I bought a new car in 2016 and, honestly, really don't care what anyone else thinks. As far as diamonds go, hopefully I won't ever buy another one as long as I live. 
Posted on 4/23/18 at 10:06 am to Pecker
I'm not rich by any means but I make good money on an Engineer's salary. I drive a pimpin beige 1999 Toyota Camry. I'm sure there are a lot of people who see my old Toyota and wonder why an engineer with 20 years experience couldn't afford a better car than this.
When we bought my wife's car in 2014 we looked at several new cars. The Mercedes GLK Bluetec was one of the top on her list. IIRC it was around $40k not extravagent by any means. We ended up finding a used 2014 trade in Mazda CX5 Grand Touring with heated leather technology package, remote start, etc for $24k out the door. $24k was $7k off the sticker for less than one year of use and 8.5k miles. The Mazda over the Benz saved us about $300/month.
Lets say I got a reasonably priced used Camry at $20k instead of my really old but dependable one. That's a $350/month note. So now we're talking $650/month I've saved in vehicle decisions. With those decisions we are able to afford little lake house at the end of a slough with this view of the lake at night.
From guy's weekends on the lake. To summer vacations spent hanging out for a week with my parents, brother, and nieces and newphews. To random beautiful days days with friends and their families fishing and boating and floating and drinking. 20 years from now is my son going to remember the time he spent in the back seat of my car or will he remember the times he spent with his cousins or friends fishing and kayaking at the lake? 15 years from now the old boring beige Camry will be in a Junkyard somewhere and the Lake house will be paid off and is a potential Heirloom for my son. 30 years from now when my son brings his kids over to spend a week at the lake with their grandparents I doubt I will look back at this time and think I wished I had driven a nicer car back then or I wish I had bought my wife a bigger diamond ring.
When we bought my wife's car in 2014 we looked at several new cars. The Mercedes GLK Bluetec was one of the top on her list. IIRC it was around $40k not extravagent by any means. We ended up finding a used 2014 trade in Mazda CX5 Grand Touring with heated leather technology package, remote start, etc for $24k out the door. $24k was $7k off the sticker for less than one year of use and 8.5k miles. The Mazda over the Benz saved us about $300/month.
Lets say I got a reasonably priced used Camry at $20k instead of my really old but dependable one. That's a $350/month note. So now we're talking $650/month I've saved in vehicle decisions. With those decisions we are able to afford little lake house at the end of a slough with this view of the lake at night.
From guy's weekends on the lake. To summer vacations spent hanging out for a week with my parents, brother, and nieces and newphews. To random beautiful days days with friends and their families fishing and boating and floating and drinking. 20 years from now is my son going to remember the time he spent in the back seat of my car or will he remember the times he spent with his cousins or friends fishing and kayaking at the lake? 15 years from now the old boring beige Camry will be in a Junkyard somewhere and the Lake house will be paid off and is a potential Heirloom for my son. 30 years from now when my son brings his kids over to spend a week at the lake with their grandparents I doubt I will look back at this time and think I wished I had driven a nicer car back then or I wish I had bought my wife a bigger diamond ring.
Posted on 4/23/18 at 10:20 am to Pecker
Oh my, I have agreed with just about everything Pecker has said in a single thread, this is trouble.
Everyone looks at these purchases as terrible 'investments' when, like Pecker said, they are barely considered an investment. Unless you want to look at it as an investment in yourself, which is arguably the most valuable investment of all.
I'm not buying a diamond engagement ring and worrying about the resale value of the ring at the same time. You've got bigger problems if that's the case. I'm buying it to make my future wife happy. And no, she doesn't -need- a diamond to be happy with me. But I don't -need- a BJ to be happy with her either. Doesn't mean it's not nice as hell to get one.
As far as cars go, if you can afford it ain't nothing wrong with driving something nice. My wife and I both drive 100k+ mile paid off cars. We're saving money at a good rate right now. That being said, mine is a pain in the arse. I'm constantly fixing things on it. AC goes out once a month, belts need changing, windows stop working, radio goes out, alternator dies. The thing still gets me from A to B reliably so I haven't brought myself to dumping it yet, but I'm realizing that probably 20% of my free time right now is devoted to maintaining that vehicle. Not to mention driving it to work every morning puts me in a bad mood.
Would I be willing to fork up $30k on a vehicle to get that 20% of my time and big chunk of my sanity back? Seems like a good 'investment' to me, even if the vehicle is only worth 25k as soon as I get the papers for it.
Everyone looks at these purchases as terrible 'investments' when, like Pecker said, they are barely considered an investment. Unless you want to look at it as an investment in yourself, which is arguably the most valuable investment of all.
I'm not buying a diamond engagement ring and worrying about the resale value of the ring at the same time. You've got bigger problems if that's the case. I'm buying it to make my future wife happy. And no, she doesn't -need- a diamond to be happy with me. But I don't -need- a BJ to be happy with her either. Doesn't mean it's not nice as hell to get one.
As far as cars go, if you can afford it ain't nothing wrong with driving something nice. My wife and I both drive 100k+ mile paid off cars. We're saving money at a good rate right now. That being said, mine is a pain in the arse. I'm constantly fixing things on it. AC goes out once a month, belts need changing, windows stop working, radio goes out, alternator dies. The thing still gets me from A to B reliably so I haven't brought myself to dumping it yet, but I'm realizing that probably 20% of my free time right now is devoted to maintaining that vehicle. Not to mention driving it to work every morning puts me in a bad mood.
Would I be willing to fork up $30k on a vehicle to get that 20% of my time and big chunk of my sanity back? Seems like a good 'investment' to me, even if the vehicle is only worth 25k as soon as I get the papers for it.
Posted on 4/23/18 at 10:22 am to LZ83
quote:
They didn’t get to be OT ballers
You can stop right there. Lots of fakers on here. They don’t like new cars and diamond rings because they can’t afford them.
Posted on 4/23/18 at 10:24 am to Pecker
Used cars are a ripoff and where dealerships REALLY make their money
Posted on 4/23/18 at 10:32 am to TH03
I love these "well actually rich people don't waste money on things like new cars" threads.
Posted on 4/23/18 at 10:35 am to Pecker
quote:
This could be said about many things (clothes, shoes, cars, a large house, a certain kind of barbecue grill). Why is a diamond different?
It's a scam that attracts women and metrosexuals like a fly trap. There are more beautiful gem stones out there for less price.
Diamonds are what's called in Economics the "Cadillac Effect" The more money you spend, the greater value to the purchaser. In fact, the value for diamonds is not in the sparkle, its in how much money was spent. It goes against all common sense.
This post was edited on 4/23/18 at 10:37 am
Posted on 4/23/18 at 10:39 am to TH03
quote:
They don’t like new cars and diamond rings because they can’t afford them.
meh, just because you are aware of the incredible markup, instant depreciation, and neither of the two retaining anywhere near the purchase price value doesn't mean you can't afford them, or don't buy them, I spend a lot on diamonds because it buys me, albeit temporary, peace and quiet, and as as far as the new rides, I'm willing to bite the bullet because I want something new, that always works, and is under warranty, had too many clunkers let me down at inopportune times when I was a kid
This post was edited on 4/23/18 at 10:45 am
Posted on 4/23/18 at 10:43 am to Fe_Mike
quote:
Oh my, I have agreed with just about everything Pecker has said in a single thread, this is trouble.
I hear this a lot and I don't understand where the problem is.
Posted on 4/23/18 at 10:43 am to Pecker
i'll never understand the car thing. i'm just a new car kinda guy, who wants something used.
Posted on 4/23/18 at 10:44 am to StupidBinder
quote:
Some people value having nice, new cars. Some people don’t. Neither “side” is wrong.
Show me 10 households with higher end houses, two or more late model cars that are financed, and all the other typical trappings of the upper middle class, and 7 of those households will have no savings, no retirement planning, no emergency fund, all income goes to servicing debt and expenses, those are the people that are "wrong".
Posted on 4/23/18 at 10:45 am to EA6B
quote:
Show me 10 households with higher end houses, two or more late model cars that are financed, and all the other typical trappings of the upper middle class, and 7 of those households will have no savings, no retirement planning, no emergency fund, all income goes to servicing debt and expenses, those are the people that are "wrong".
All of that has literally zero effect on you.
Can we take a look at everything you spend money on and decide where you waste?
Posted on 4/23/18 at 10:46 am to LNCHBOX
quote:
7 of those households will have no savings, no retirement planning, no emergency fund, all income goes to servicing debt and expenses, those are the people that are "wrong".
quote:
All of that has literally zero effect on you.
You're retarded
Posted on 4/23/18 at 10:47 am to Mingo Was His NameO
For stating a fact? Neat.
Posted on 4/23/18 at 10:48 am to Pecker
Different people have different priorities. Do what makes you happy. Just make sure you actually know what is going to make you happy.
There are a lot of women who would absolutely love to receive an engagement ring they can show off. That doesn't make them bad people. And it doesn't make the guy "stupid" for wanting to get his fiance something she'll love, something that will make her happy, something she'll be able to show off. Frankly, I think it's totally normal.
Just live and let live, my dudes.
There are a lot of women who would absolutely love to receive an engagement ring they can show off. That doesn't make them bad people. And it doesn't make the guy "stupid" for wanting to get his fiance something she'll love, something that will make her happy, something she'll be able to show off. Frankly, I think it's totally normal.
Just live and let live, my dudes.
Posted on 4/23/18 at 10:49 am to LNCHBOX
quote:
For stating a fact? Neat
People over extending themselves and not saving anything for retirement has no effect on other people? That is patently false.
Posted on 4/23/18 at 10:50 am to Monsieur le Duc
quote:
Monsieur le Duc
This guy should post more.
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