What super spiffy thing should I ride for $30-$50K??? - Page 11 - Miata Turbo Forum - Boost cars, acquire cats.

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Old 06-21-2012, 01:17 AM   #201
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it's nto what you make, it's what you spend
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Old 06-21-2012, 02:33 AM   #202
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Last year I spent well over $40,000 on food and drink. I did my accounting and was absolutely staggered.

After that I decided to cut back quite a bit on dat shtuff.

The Texas c6z is MUY SEXY

c6 reallllly looks like a lotus elise.

i saw one with a badass diffuser and it was so moisty

elise is +++++compliment
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Old 06-21-2012, 02:46 AM   #203
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it's nto what you make, it's what you spend
True, and you can be happy / satisfied this way as well. Spend within your means. Just being a smart shopper can get you goods beyond what your income might actually be. When my miata is done I'll have a seriously fast car for the price of a new bottom rung econo car.
I also just picked up a beat on newer Honda TRX90 and CRF70. A few hours of labour per machine and about $250 in parts split between them and my kids will be in heaven. It looks like I spent $2500 when I only put out $800. Sometimes you gotta by what you can and make it work.
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Old 06-21-2012, 03:47 AM   #204
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it's nto what you make, it's what you spend
I guess food stamps and extreme couponing isnt rad enough eh?
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Old 06-21-2012, 04:02 AM   #205
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Long before I became a boss, before my internship with an urban planning firm, before my job at that sorority house, before transforming into a bro, before college even, before I knew you could get condoms for free, I worked at a grocery store and it sucked. It really sucked. It sucked every goddamn second I was there. I hated my job, but no matter how pissed I was with my shitass fing job ringing up bread and weighing fruit, i was always more pissed off at the people who'd walk in with more coupons than bill in their respective wallets. Asians were always the worst and they would always have exact chance, too.

I couldn't understandd it then and i still can't understand how tight money is when you flat out argue with the cashier over your coupon's expiration dates. Sometimes I wanted to just give people their 35 cents to stfu and go away.
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Old 06-21-2012, 09:07 AM   #206
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Well i guess it depends on your definition of "afford". .
I guess so.
To me "afford" means you can pay for it on the spot without financing or borrowing.
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I couldn't understandd it then and i still can't understand how tight money is when you flat out argue with the cashier over your coupon's expiration dates. Sometimes I wanted to just give people their 35 cents to stfu and go away.
That's not broke. That's cheap.
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Old 06-21-2012, 09:43 AM   #207
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If, after every bill you have, plus your monthly splurge budget,
and having a reserve for an emergency you have 1500 dollars a month to spend on a car and you go buy a 50k car that costs you 800-900 month, I would consider you to be able to "afford" it. But, if you buy a 100k car that costs you $1600/month so you have to take from your monthly splurge allowance, you can't "afford" it.

Paying cash for a 50k car is the worst investment you can make.
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Old 06-21-2012, 09:56 AM   #208
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Paying cash for a 50k car is the worst investment you can make.
Why's that?
How is it better to pay interest no a 50k loan?
Assuming we're discussing out of pocket loss vs less loss overall, not "well you could finance it and use the money to make more money" (which obviously makes sense, but is not the point here)
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Old 06-21-2012, 10:58 AM   #209
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Why's that?
How is it better to pay interest no a 50k loan?
Assuming we're discussing out of pocket loss vs less loss overall, not "well you could finance it and use the money to make more money" (which obviously makes sense, but is not the point here)
Because you are 50k poorer today versus taking a loan for 5 years at a minimal interest rate and still having the cash in your pocket. Its always beneficial to have liquid assets that can be quickly used for other things, if you need to get cash out of a vette its going to be pretty hard in a pinch. Plus the reason you mentioned holds true too. Besides that, its not wise to tie up money in a depreciating asset for a long term time period. The interest is so low its almost not going to be felt anyway.

So in short when you live in a country like the US and you are privileged enough to get credit, take it. Thats not saying everyone should though, cause we know where that goes.
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Old 06-21-2012, 11:15 AM   #210
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Quote:
Originally Posted by 18psi View Post
Why's that?
How is it better to pay interest no a 50k loan?
Assuming we're discussing out of pocket loss vs less loss overall, not "well you could finance it and use the money to make more money" (which obviously makes sense, but is not the point here)
Because the whole basis of Finance is a dollar today is worth more than a dollar tomorrow. Plus money is so cheap right now, itd be retarded to drop 50K cash on a car, when you could finance it at a couple percent and easily make more than that on the market.

Most of the ballers that are smart with money dont pay cash for exotics either. Had a guy tell me he wanted a 599 so he went down to a credit union, opened a 50 dollar checking account and then applied for a car loan for a 599, they gave him like 2.5%, so he financed it and took all the money and put it on the market.
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Old 06-21-2012, 11:23 AM   #211
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I understand all that. Hence my 2nd part of the post where I specifically mentioned "assuming we're not talking about.....etc".

I'm just saying that buying outright you end up SPENDING LESS on the car overall. What you do with the money if financing/etc is a completely different topic altogether.

Anyways, I'll rephrase it so this already off topic thread doesn't drift more off topic:
To "afford" something, to me, means you CAN buy it outright if you wanted to.
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Old 06-21-2012, 11:30 AM   #212
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Originally Posted by 18psi View Post
I'm always wondering what other miata gays do for a living.
Theres lots of people on here that make serious bank, and lots that are broked!ck trash.
When someone starts bringing up 50k cars like it aint no thang, I want to know what they're doing and if they can really afford it or are dumba$$es who just can't have money without spending it.
Being older helps. Being married with a kid does not.
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Old 06-21-2012, 11:36 AM   #213
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A car loan can only make financial sense if you can reinvest your cash at a higher rate of return. If you can get a car loan at 3% but can invest your money somewhere and get a > 3% return, then it makes sense. You also need to factor in risk obviously - stock market may average better than x%, but there are no guarantees.

Still, there is no part of me that can imagine paying a monthly car payment. I took a very short term loan from my dad in 2003 to buy an E36 M3, but that was because I was just coming out of school and had nothing.
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Old 06-21-2012, 11:38 AM   #214
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Originally Posted by Saml01 View Post
depreciating asset
Exactly.

Also I assume a low interest rate, not 10%.

All the cars we are talking about WILL depreciate.

We a not talking about a Million dollar car that would end up having a good ROR.
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Old 06-21-2012, 11:45 AM   #215
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^so how would you pay the $60k for that SLC? no credit union is going to finance that
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Old 06-21-2012, 11:50 AM   #216
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Originally Posted by nickt93 View Post
A car loan can only make financial sense if you can reinvest your cash at a higher rate of return. If you can get a car loan at 3% but can invest your money somewhere and get a > 3% return, then it makes sense. You also need to factor in risk obviously - stock market may average better than x%, but there are no guarantees.

Still, there is no part of me that can imagine paying a monthly car payment. I took a very short term loan from my dad in 2003 to buy an E36 M3, but that was because I was just coming out of school and had nothing.
exactly.
and if we're going to go down "that" path, how many people ACTUALLY do something like that? like 10-20% if that.
Most buy the car and just make payments, giving up a ton of money in interest (and I'm not talking about those special uber low rates or 0%).

Too many people read "rich dad poor dad" and talk like they live by it lol
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Old 06-21-2012, 11:54 AM   #217
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An irresponsible kit car loan at 6%.
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Old 06-21-2012, 11:54 AM   #218
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Originally Posted by 18psi View Post


I understand all that. Hence my 2nd part of the post where I specifically mentioned "assuming we're not talking about.....etc".

I'm just saying that buying outright you end up SPENDING LESS on the car overall. What you do with the money if financing/etc is a completely different topic altogether.

Anyways, I'll rephrase it so this already off topic thread doesn't drift more off topic:
To "afford" something, to me, means you CAN buy it outright if you wanted to.
Obviously you spend less on the car in total but at the end of the day it just isn't the best way to utilize the money. Forget about putting the money in the market or in a high yield savings, that idea died about 4 years ago. If you put the money in the market today its a high likelihood you will lose it. Probably better off putting it in a 401k and getting a tax refund. Assuming you have other money from which to pay the loan.

Btw. I agree with you. Its the Russian mentality thanks to the fact that credit never existed in the soviet union and our parents bought everything in cash. They came here and continued the practice. ....majority of them did. Some went ape ---- and put themselves in a hole as a result.

But... without credit, I doubt you'll be able to "afford" a house. Unless you live in like Texas where a house is like 60k.
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Old 06-21-2012, 11:59 AM   #219
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An irresponsible kit car loan at 6%.
you would really do that?
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Old 06-21-2012, 12:10 PM   #220
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Quote:
Originally Posted by pusha View Post
it's nto what you make, it's what you spend
I make pennies, so I drive a bunk Miata.
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