- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Spending advice - cars!
Posted on 7/24/21 at 6:57 am
Posted on 7/24/21 at 6:57 am
Need help on a new car. Do I need a new car? Absolutely not, I have a seven year old Audi that works just fine is in mint condition.
However I got a unexpected bonus at work and after putting aside a substantial portion of it for charity, savings, and a European vacation (next year) with the family next year I still have a good bit left.
The choice is between a new Tesla model three, and a three year old Audi S5.
For background, I fully find my 401(k), save a substantial amount of my take-home pay outside of that, retirement fully funded, and kids college in Florida is pre-paid already.
Really I’m just a cheapskate, and I have a hard time spending any money on unnecessary wants versus needs :-) even if financially it’s not an impact
However I got a unexpected bonus at work and after putting aside a substantial portion of it for charity, savings, and a European vacation (next year) with the family next year I still have a good bit left.
The choice is between a new Tesla model three, and a three year old Audi S5.
For background, I fully find my 401(k), save a substantial amount of my take-home pay outside of that, retirement fully funded, and kids college in Florida is pre-paid already.
Really I’m just a cheapskate, and I have a hard time spending any money on unnecessary wants versus needs :-) even if financially it’s not an impact
13
Posted on 7/24/21 at 7:03 am to St. Pete Tiger
Keep the car you have
Posted on 7/24/21 at 7:53 am to Hamma1122
Yes, but the new car is shiny
Posted on 7/24/21 at 7:54 am to St. Pete Tiger
Whatever it is, make sure it's a convertible so your toupee can fly freely in the wind
Posted on 7/24/21 at 8:08 am to St. Pete Tiger
What are you asking?
Posted on 7/24/21 at 8:43 am to St. Pete Tiger
It’s okay to leave it in savings or invest. I have never understood why people think they have to save for a vacation, car, etc.
It’s ok to save for the sake of not spending money on things you don’t need.
It’s ok to save for the sake of not spending money on things you don’t need.
Posted on 7/24/21 at 8:52 am to St. Pete Tiger
Sounds like to me you have your shite together. Everyone on here wastes money on something. The frugal thing to do is keep your old car. The way I see it, can’t spend your whole life slaving not to reward yourself. My dad had a recent near death experience. Him and mom wanted a motorhome but would never do it bc “it’s just not a sound financial decision”. Well last week he bought a motorhome. Moral of the story is as long as you can afford it and it’s what you want then do it. We can’t always be a slave to the money. Enjoy life and the little things while you’re here.
Posted on 7/24/21 at 9:15 am to St. Pete Tiger
Personal finance is personal for a reason. It doesn't have to be a mathematical decision. If you want it and can afford it without derailing any major financial goals, then by all means get it. If there are other things that would give you a dopamine hit that don't cost as much then maybe you consider getting those instead. You can't take it with you.
Posted on 7/24/21 at 9:17 am to St. Pete Tiger
quote:
Yes, but the new car is shiny
Your 7 year old Audi was once shiny, new, and had that new car smell too.
Just something to think bout before you make a decision. And whatever you do, don’t try to make an emotional one.
This post was edited on 7/24/21 at 9:18 am
Posted on 7/24/21 at 9:27 am to St. Pete Tiger
No one “needs” a “new” car, they want one.
People forget we save money and invest because we want to spend it at some point in things that make us happy.
If it will make you happy and not hurt your financial goals, go for it.
People forget we save money and invest because we want to spend it at some point in things that make us happy.
If it will make you happy and not hurt your financial goals, go for it.
Posted on 7/24/21 at 10:14 am to Tiguar
Thanks for the advice, even the toupee one. Often hard for the savers to spend on something that is functionally frivolous.
Geaux Tigers
Geaux Tigers
Posted on 7/24/21 at 12:33 pm to St. Pete Tiger
This seems like a not so subtle brag...don't really see a question here, just you letting everyone know you're about to buy a new car with a big bonus you got.
That being said, if you just keep saving money instead of spending it, what is it you're going to spend all that money on eventually? Perhaps a....new car...? So just buy it now, assuming all your other savings 'needs' are being met which it seems they are.
That being said, if you just keep saving money instead of spending it, what is it you're going to spend all that money on eventually? Perhaps a....new car...? So just buy it now, assuming all your other savings 'needs' are being met which it seems they are.
Posted on 7/24/21 at 12:34 pm to Fe_Mike
I think this should of been an OT post. Not really anything the money board can add value to this. Buy it if you want it. The last vehicle I had before I bought the one I have now only had 30k miles on it. Perfectly good vehicle with no issues but I wanted something different. Financially it was a terrible decision to get something else but I wanted it so it is what it is.
This post was edited on 7/24/21 at 12:39 pm
Posted on 7/24/21 at 12:45 pm to St. Pete Tiger
As Dave Ramsey would say if you can pay cash for the vehicle and you are debt free then go for it.
I would love a new truck some day but will buy used just because i would rather spend my money on other things than a new car
I would love a new truck some day but will buy used just because i would rather spend my money on other things than a new car
Posted on 7/24/21 at 1:15 pm to St. Pete Tiger
I wouldn’t buy a Tesla now. EV tech is progressing so rapidly I would wait another 3 years. Also Tesla is known for having quality consistency issues. I’d be hesitant to buy a car built in a tent under a parts supply shortage the last year. If you buy get the Audi.
You should check out a Genesis. Beats the Audi in all the auto awards and is cheaper.
You should check out a Genesis. Beats the Audi in all the auto awards and is cheaper.
This post was edited on 7/24/21 at 3:04 pm
Posted on 7/24/21 at 1:18 pm to St. Pete Tiger
Putting towards the house if you still have a mortgage. Splurge on a new card if you don’t!
Posted on 7/24/21 at 2:14 pm to St. Pete Tiger
If me, not buying car. Pay ourselves the notes each month after both paid cars have been paid for. I get dopamine rush more from having 25, 50, 200 cars in investment portfolio.
That said, if makes you happy and after all financial goals already met, you should go for it.
However, my litmus test for big purchases like this is if that $ you spend on car, if instead were invested, would reduce your time to financial independence by X years?
We live very well, but do like idea of controlling my own time! Hate passing up that opportunity.
Good luck
That said, if makes you happy and after all financial goals already met, you should go for it.
However, my litmus test for big purchases like this is if that $ you spend on car, if instead were invested, would reduce your time to financial independence by X years?
We live very well, but do like idea of controlling my own time! Hate passing up that opportunity.
Good luck
Posted on 7/25/21 at 8:31 am to St. Pete Tiger
quote:
I still have a good bit left.
Solar panels. This will make an electric car a smarter purchase next time this comes up.
Until then, stick with the Audi.
Posted on 7/26/21 at 4:28 am to St. Pete Tiger
You only live once. Buy the car. And buy the one that puts a bigger smile on your face, not the more sensible one.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News