It's a myth in what regard? What you just described is depreciation.
Last edited:
Forbes: The One Monthly Payment Killing Your Wealth
- Thread starter eufemism
- Start date
It's a myth in what regard? What you just described is depreciation.
950 rent and 300 car paymeny and also 213 insurance
OC's finest
All Star
true story, but ppl dont listen
i got a buncha friends that bought MBZ and BMW's n stuff, living in apartments lol
im driving a corolla, but i own a house, & saving up for my 2nd house
i got a buncha friends that bought MBZ and BMW's n stuff, living in apartments lol
im driving a corolla, but i own a house, & saving up for my 2nd house
Amerikan Melanin
Veteran
Yes you can buy used and stack that extra cash.
However you only live once so why not drive some fly shyt if you can afford it? shyt you need to have experiences in life and not just money. You just have to do it smart.
For instance there is leasetrader, if you have a high credit score you can take over someone elses lease payments and drive the shyt outta the car maintenance free without paying a downpayment. For instance you can get this Mustang GT for 464/mth and 1700+ miles for 16mth's. Its basically a long term rental but you dont have to pay maintenance.
If you want to get deep with it you lease cars underneath a business and you get to write some of the costs and mileage off.
However you only live once so why not drive some fly shyt if you can afford it? shyt you need to have experiences in life and not just money. You just have to do it smart.
For instance there is leasetrader, if you have a high credit score you can take over someone elses lease payments and drive the shyt outta the car maintenance free without paying a downpayment. For instance you can get this Mustang GT for 464/mth and 1700+ miles for 16mth's. Its basically a long term rental but you dont have to pay maintenance.
If you want to get deep with it you lease cars underneath a business and you get to write some of the costs and mileage off.
Love that civic model. I had a used 93 accord and bought it from a old lady. Put like 200k on that joker. Ended up selling it to some highschool kid. When I sold it to him it had 330k on it. Same engine and same motor.
I already knew what it was before I entered. Credit destroyer too. Thank goodness for that total loss and gaap insurance. That black cloud is gone. I want a car but i need a great deal and my credit is trash and not even my fault why it's trash.
Larry Lambo
Superstar
Depends on why you have a "nice" car.
If it's something you have fantasized and aspired to since you were little and you truly enjoy the driving experience, then I don't see the issue, if it's within reason. But it may have to take the place of a "hobby" that others can spend on.
If it's something that you don't have an emotional attachment to, and you are copping just to "floss", then it's a waste.
If it's something you have fantasized and aspired to since you were little and you truly enjoy the driving experience, then I don't see the issue, if it's within reason. But it may have to take the place of a "hobby" that others can spend on.
If it's something that you don't have an emotional attachment to, and you are copping just to "floss", then it's a waste.
platinum f1a$k
Banned
thought this was common sense
Suleiman Bey
Banned
Not really.
Larry Lambo
Superstar
If you buy new, once you drive it off the lot, you aren't going to get that retail value from anybody with common sense.
Now if you buy used, you might be able to sell it for around the same price to another individual. But as the years past the value is gonna go down, unless you bought something so old that it has hit it's bottom.
I completely agree with this. Shared expenses is the way to go.
Larry Lambo
Superstar
I'm a private person so that doesn't really work for me. I had roomates in college and the sanity provided by living on my own is worth the loss of "wealth".
Suleiman Bey
Banned
Retail/list value and what you pay are hardly ever the same if you shop right. The dealer won't buy it back at a good price because they don't make money off of new cars anyway, but you can sell it outright to someone else for close to that price or have them take over the payments at that price. Value is always subjective.