It depends. If you’re only a millionaire on paper mostly due to your house then yeah… enjoy that second career. You probably need a couple million (liquid) to have a comfortable retirement.
Personally, I have those as a necessary expense like food and shelter
You're a better man then me. I have them above food and shelter... what's the point of living without?
Yeah that’s a smart way to go. If I favored cars in that price range, I would definitely invest the time to find a great used one. I’m pretty much a Toyota guy these days - one built in Alabama and one in Japan, because they don’t make the model I wanted at their US plants.
I think Alabama is still part of the US.
It’s all about your ideal retirement. You’ll need less if reading a book out on the back porch sipping bourbon is your ideal retirement vs traveling internationally every month
Ha! Our two Toyotas are different models. The smaller one might be built at their Mississippi plant at some point, but isn’t yet.
this totally fits into my contrarian views... I generally assume that people with more expensive than average vehicles are actually very poor and just putting on a front while those driving older vehicles (as long as they don't look run down) are sitting on fat bank accounts.
This is generally what I like to think about.. been looking at an Audi Q5 as well as an A6 (super interior). I'm just scared to death of the repair bills. I previously did the same with a Passat that was certified, and that came in very handy over the next 2 years to have wheel sensors replaced (1 at a time) but that was such a great highway car.. non diesel and I was getting 40mpg on the highway at around 70 miles per hour. I love the German cars.. curious how bad your BMW has been for repairs?
Not bad at all. Oil changes at the dealership are little over 100 but only have to go in every 10k miles. Brake jobs are a bit steep but nothing crazy. New battery was around $400 bc bmw has to register the battery which was annoying.
was trying to get some bids for doing some minor drywall work a few months back.. none of the illegals I had been calling would call me back and was considering doing it myself, even though I had never done it before. A friend knew of a guy that he sent over, and when he showed up, I knew this guy wasn't going to work out. He pulled up in an all black jacked sky high, F250 or something.. it looked like an 80K truck, and I thought, no way is this guy going to come in at a decent price. He didn't even submit a bid but passed it on to another guy, who also gave me a ridiculous bid.. I ended up doing it myself, but I have a real hard time understanding why some guys do that. If it's really needed for work, I get the work truck, but the >80 grand super duty just doesn't make any sense to me.. unless you're a real big guy, then it sort of does, but contrast that with the actual pickup trucks used in Asia, they are cheaper than even the cheapest new car) .. great little city trucks that aren't that big, and all 3 sides of the bed have foldable tailgates.
When I see how things work here, then go back to the states, I just shake my head at the way we sometimes do things in this country.
No offense if you have a big expensive truck, but it's not something I will ever own.
I agree with what you're saying.. they are strictly city trucks, not doing fast interstate highway miles, and not towing anything.
There was some research that showed that 75% of truck drivers towed once a year or less and 35% used their bed to haul stuff once a year or less. You can drive whatever you want but most trucks are pavement princesses.
In the span of about 10 years trucks went from utility with a little comfort, to comfort with utility. Look at the late 90s models to the 2010ish models. Gas mileage went up too. 18 mpg doesn't sound that good to most people, but it's a big increase from 10 or 12 mpg. These changes allowed a bunch of people to justify trucks that otherwise would have an SUV.
Not sure if you’re a Ferrari fan or not but that market is in free fall. 360s were exchanging hands for 90-100k during pandemic, now you can snag a low - mileage option in the 60s. Californias in the 50s. F430 ( my favorite) is nearing under a 100k
Which auction sites do you frequent? I’m searching for a highly spec’d car and want to make sure I’m looking everywhere.Not sure if you’re a Ferrari fan or not but that market is in free fall. 360s were exchanging hands for 90-100k during pandemic, now you can snag a low - mileage option in the 60s. Californias in the 50s. F430 ( my favorite) is nearing under a 100k
Mecum and Cars&Bids.
Thanks. I love them, but I don't fit in them well. Outing myself as a DB, I owned a California for a bit and looked like 10lbs of shit in a 5lb sack. Best looking cars on the road though, IMO.Not sure if you’re a Ferrari fan or not but that market is in free fall. 360s were exchanging hands for 90-100k during pandemic, now you can snag a low - mileage option in the 60s. Californias in the 50s. F430 ( my favorite) is nearing under a 100k
Not entirely true. Some used models have been marked up so much that it actually makes sense to buy new. This is especially true if you are a cash buyer or get 0% interest. Then hold onto it for seven years and you've recovered the initial cost of depreciation.
You are doing it the right way. Nothing is a better deal than buying a new car. Taking great care of it and holding it for 16 years. The only exception would be to buy a two to five year old vehicle with a high depreciation rate and then keeping that car until it is 10-12 years old or so. I've bought my last two cars new because I didn't like losing the transmission in my Ford truck 10 years ago and it was only at 120,000 miles.
I wonder if that family's insurance company realizes that a kid is driving that Lambo? I would love to see that new car insurance quote.
Good question. But they don't put off the "cost sensitive" vibe. Their house probably goes for 8-10 mil.
