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Sirotan posted:How do you even pay $50k for any style of Ford Focus, let alone a hatchback? I just checked and the base model price is $37k. The Focus RS is a factory near-race car that happens to ride on the Focus platform. It's got triple the power of a normal focus, an extremely sophisticated all-wheel drive system, and a much much higher performing suspension and brake set up. Is it worth 40k+? To a car guy with money to burn, probably. To a regular person? Unlikely. It somewhat competes with the WRX STi and Golf R, which are also high power AWD cars based on cheaper platforms that cost around 40k. Guinness fucked around with this message at 13:51 on Dec 20, 2016 |
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Dec 20, 2016 13:48
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For the record, all 3 are insanely fun little death machines that my wife will absolutely 100% not even let me look into buying.
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Dec 20, 2016 14:14
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Crazy Mike posted:What about vacation ownership? I went to the Wyndham sales pitch gimmick and thought it almost made sense if we dedicated ourselves to a vacation every year. I could justify affording to finance the buy price and the yearly maintenance fee but felt I was not quite well off enough to pull it off and when they mentioned that you could sell your points if you got tired of it I thought it may be better off to buy the points off someone else. My parents do Wyndham and my in-laws do Holiday Property Bond, and they both love it. They're retired and travel constantly, literally they're whole lives revolve around planning when and where they'll use their points. I think they're dumb, but I guess they're the elusive people who are using it to the fullest and don't feel hosed over by it. As for the rise in big rear end trucks and SUVS, didn't we go through this 10 years ago? Everyone bought big rear end cars when gas was cheap, then it went up to like $4/gallon and regret set it. But hey, it's cheap again RIGHT NOW so let's sign a 7 year car note!
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Dec 20, 2016 14:18
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ate all the Oreos posted:Like I get it if they're your hobby, my dad repairs old cars and pours a ton of money into them but he's actually rebuilding them from the ground up and stuff. It's fine to spend money (that you can afford) on something you're really into but I just don't get why everyone needs to drive an SUV or truck to their office job every day When I lived in Houston one of my main hobbies was driving. My RSX is literally the only thing I miss about living in the states. Ok not the ONLY thing I also miss pickles that don't cost $34 a jar.
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Dec 20, 2016 14:21
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ate all the Oreos posted:Like I get it if they're your hobby, my dad repairs old cars and pours a ton of money into them but he's actually rebuilding them from the ground up and stuff. It's fine to spend money (that you can afford) on something you're really into but I just don't get why everyone needs to drive an SUV or truck to their office job every day Freud may have been full of it about a lot of things, but he was dead right about "overcompensation".
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Dec 20, 2016 14:30
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How is driving a thing a hobby? That's bullshit consumerism. A hobby involves creating, not consuming.
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Dec 20, 2016 14:31
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cowofwar posted:How is driving a thing a hobby? That's bullshit consumerism. Racing is a sport. Sports count as hobbies.
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Dec 20, 2016 14:35
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cowofwar posted:How is driving a thing a hobby? That's bullshit consumerism. A hobby is an activity done regularly in one's leisure time for pleasure, whether it involves consumption or creation. You're not the hobby police, c.o.w.
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Dec 20, 2016 14:35
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I'm sure building dollhouse furniture for sale a la Lester Freamon sits right on the face of everyones' weird, GWM fantasies in this thread, but many people have dumb, expensive hobbies that they feel just fine about pursuing because they are financially responsible everywhere else in their lives and so it makes sense to do stupid, expensive stuff to keep themselves sane. Not every hobby is or has to be a "side gig."
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Dec 20, 2016 14:38
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Can't believe people enjoy things that I don't.
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Dec 20, 2016 14:38
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Burning leaves and dumping toxic waste into rivers is my hobby
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Dec 20, 2016 14:50
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ego symphonic posted:Can't believe people enjoy things that I don't. Same Nail Rat posted:Burning leaves and dumping toxic waste into rivers is my hobby Same
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Dec 20, 2016 14:56
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cowofwar posted:A hobby involves creating, not consuming. This is an idiotic extension of the idea that active hobbies are "better" to have than passive ones.
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Dec 20, 2016 14:56
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Nail Rat posted:Burning leaves and dumping toxic waste into rivers is my hobby What position did you get offered by Trump?
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Dec 20, 2016 15:19
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baquerd posted:What position did you get offered by Trump? Administrator of the EPA, of course
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Dec 20, 2016 15:23
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sparkmaster posted:34k worth of car is... a lot of car. The average price of a new vehicle is $33k according to recent reports. It's not uncommon at all anymore. I'm sure truck prices raise that a bit but a base F-150 is less than the average. I'm sure the median is a lot lower but here we are.
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Dec 20, 2016 15:26
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McMansions are out, McMobiles are the new hotness
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Dec 20, 2016 15:30
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Also truck and SUV sales are at a record high right now since gas is so cheap.
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Dec 20, 2016 15:45
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SCA Enthusiast posted:Also truck and SUV sales are at a record high right now since gas is so cheap. Honestly, it's unlikely gas will ever hit $4 a gallon again during the life of any truck or SUV sold today. They've been trying to figure out a way to economically frack oil shale for a couple of decades and now that it's profitable at $50/barrel it's unlikely we'll see triple digit oil prices again. I mean, I guess it's still possible. But only until a mid-term election and the chants of 'drill, baby drill' echo across the electorate.
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Dec 20, 2016 15:53
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Periodic reminder that BWM isn't about the hobby in question but about the hobbyist's means to pursue that hobby responsibly. Except for horseboats because the means to pursue horseboats responsibly are outside the grasp of everyone.
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Dec 20, 2016 16:01
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If you buy a $35k car on a 6 year loan at 5%, you're going to pay about $40k for that thing. A six year old car loses about 60% of it's value, so charitably, it will be worth $15k. So you paid $40k for a $15k asset, for a total loss of $25k. If you stuck that car payment in an ETF and got 8%, you'd have about $50k instead. That's a $75k swing. I'm preaching to the choir but it always blows my mind to work out car napkin math. EDIT: Assuming you bought that car right around the time you started working, and you did nothing else, that $75k sitting until "retirement" 24 additional years is worth almost $0.5M. A half million dollar F-150 paternity suitor fucked around with this message at 16:11 on Dec 20, 2016 |
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Dec 20, 2016 16:09
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paternity suitor posted:If you buy a $35k car on a 6 year loan at 5%, you're going to pay about $40k for that thing. A six year old car loses about 60% of it's value, so charitably, it will be worth $15k. So you paid $40k for a $15k asset, for a total loss of $25k. If you stuck that car payment in an ETF and got 8%, you'd have about $50k instead. That's a $75k swing. I'm preaching to the choir but it always blows my mind to work out car napkin math. This is the house argument again because it ignores the utility you get from a new reasonably reliable car. If I put all my food budget into index funds and just stole food out of the work fridge I'd save money too unless that in turn got me fired.
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Dec 20, 2016 16:12
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Krispy Kareem posted:This is the house argument again because it ignores the utility you get from a new reasonably reliable car. You're partially right, and I'm assuming that the person already had a functioning car that they could have kept. Most people I know that need a car have a car, they just want a nicer car. You can buy a slightly used reliable car for like $10-15k, that's probably a more fair comparison.
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Dec 20, 2016 16:16
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potee posted:Look at the sultan, with his fancy microwave and watt-hours to spare To be fair he didn't say anything about heating it 
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Dec 20, 2016 16:16
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mastershakeman posted:The average price of a new vehicle is $33k according to recent reports. It's not uncommon at all anymore. I'm sure truck prices raise that a bit but a base F-150 is less than the average. I'm sure the median is a lot lower but here we are. I'm shopping for a minivan right now, and I can tell you that a Honda Odyssey starts at $30k and the top trim level is $45k.
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Dec 20, 2016 16:16
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paternity suitor posted:If you buy a $35k car on a 6 year loan at 5%, you're going to pay about $40k for that thing. A six year old car loses about 60% of it's value, so charitably, it will be worth $15k. So you paid $40k for a $15k asset, for a total loss of $25k. If you stuck that car payment in an ETF and got 8%, you'd have about $50k instead. That's a $75k swing. I'm preaching to the choir but it always blows my mind to work out car napkin math. Hmmm yeah, if you ignore "the ability to move people and things around" which is the entire point of them, yeah vehicles are terrible investments. Heh you pay 50$/month for a bus pass? That's 600$/year, plus the 8% returns I made up, that's $5705.81 over 6 years, then if you let that amount sit for 30 more at 8%, that's $57,415.61! A 57 grand bus pass and what do you get? Transportation to and from work, shopping, your entire family and social life. No wonder poor people are poor, they don't understand investing! of course that F-150 is too expensive for most americans, but that's not the point you made
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Dec 20, 2016 16:23
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paternity suitor posted:You're partially right, and I'm assuming that the person already had a functioning car that they could have kept. Most people I know that need a car have a car, they just want a nicer car. You can buy a slightly used reliable car for like $10-15k, that's probably a more fair comparison. Then you operate under the assumption that an inexpensive and reliable Mazda or Kia costs $25k and someone else buys a Chrysler for $35k and figure the opportunity cost of that $10k difference (and the fact they bought a loving Chrysler). And all cars, even good used ones cost more to maintain as they age. It is almost always better to drive a car at least 8 to 10 years, but sometimes it makes sense to purchase new before then. That said Americans are loving stupid as poo poo with cars. Like Yemenis with their ornamental knives as status symbols stupid. One of the softball dads on my daughter's team just left his sweet management gig at a datacenter to be employee number 3 at a startup. But that's not the stupid part. The stupid part is the $60k truck he bought 2 weeks before he changed jobs. It's a really nice Chevy, though.
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Dec 20, 2016 16:58
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canyoneer posted:I'm shopping for a minivan right now, and I can tell you that a Honda Odyssey starts at $30k and the top trim level is $45k. You could cram the kids and soccer gear into the back of a Honda Fit, think of it like those games where you have to fit all the puzzle pieces into a small area. EDIT: /r/legaladvice, the subreddit that keeps on giving https://www.reddit.com/r/legaladvice/comments/5jdywt/starbucks_intentionally_shut_down_my_account_with/ quote:Starbucks intentionally shut down my account with $1200 loaded, won't adjust But I spent $10 for a $50GC, of course it could not be fraudulent 
monster on a stick fucked around with this message at 17:39 on Dec 20, 2016 |
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Dec 20, 2016 17:32
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quote:I have a $520 Harley payment (still owe $20k on it) quote:I'd rather be broke with my harley than have $30k in savings. Sounds dumb, but it's my priority. quote:I go through cars like crazy, I get real bored of them, so instead of financing a car, instantly being upside down on it, not wanting it anymore a year later, trading it in, tolling over what I owed on it and being even more upside down... I got in the mess once. I got out of all that upside down poo poo (first 401k), and decided to lease cuz it's zero maintenance cost and i can get rid of it in two years... One more year left. I'm don't though. When my wife lease is up, Imma buy the car in a three year loan (August) and when my truck lease is up I don't know what I'll do yet. Right around the time when my wife's car is laid off after the three years, my harley will be done too. I pretend like I got it figured out, like I just typed, but it all ends up poo poo. https://www.reddit.com/r/personalfinance/comments/5jc2r5/i_made_115k_this_year_and_im_living_paycheck_to/
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Dec 20, 2016 17:54
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Bad With Money is my favorite thread because even if we're not great with money, there's always something to look at and feel good about.
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Dec 20, 2016 18:08
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meatpotato posted:I've got a friend who is probably bad with money but earns a lot. He just bought a $50k Ford Focus RS. I won't lie, that thing is extremely fun to ride in. But gently caress paying $50k +insurance for a daily driver unless you're making multiple hundreds of thousands a of dollars a year. I'll be rocking my 1990s car and a bicycle until they fall apart. I own a 2015 WRX and honestly its one of the most enjoyable cars to drive I've ever spent time in, at least for short trips. I took a 10 hour road-trip last summer and the stiff suspension and road noise make it unpleasant. I live in Montana and since going anywhere here involves a lot of driving, might as well try to do the drive in something fun. EAT FASTER!!!!!! posted:Bad With Money is my favorite thread because even if we're not great with money, there's always something to look at and feel good about. Yea. I spent 200 bucks on a advent calendar full of whiskey, but at least I'll still put money into savings and the 401k next month, and all my bills are covered. CitizenKain fucked around with this message at 18:19 on Dec 20, 2016 |
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Dec 20, 2016 18:13
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Switchback posted:Guys he's got it all figured out "Buy less Harley's" "No."
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Dec 20, 2016 18:14
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monster on a stick posted:You could cram the kids and soccer gear into the back of a Honda Fit, think of it like those games where you have to fit all the puzzle pieces into a small area. Surely if you are buying hookey cards, you know that you've got to spend them asap before anyone finds out and blocks them? No-one is naive enough to believe that cards from ebay are legit. spog fucked around with this message at 18:17 on Dec 20, 2016 |
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Dec 20, 2016 18:14
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Switchback posted:Guys he's got it all figured out quote:No magic here Dude, just euthanize it.
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Dec 20, 2016 18:33
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He doesn't have to get rid of the dog, some of the hardcore financial types really don't get things like emotions.
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Dec 20, 2016 18:37
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monster on a stick posted:You could cram the kids and soccer gear into the back of a Honda Fit, think of it like those games where you have to fit all the puzzle pieces into a small area. As a Honda Fit driver, 3 car seats do not fit into the back seat. Well, no 3 car seats I've ever seen.
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Dec 20, 2016 18:40
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spog posted:Surely if you are buying hookey cards, you know that you've got to spend them asap before anyone finds out and blocks them? Hahaha someone looked at his userpage and found him selling some seriously sketchy digital game codes: https://www.reddit.com/user/Squilly827/submitted/
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Dec 20, 2016 18:45
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Uncle Enzo posted:Hmmm yeah, if you ignore "the ability to move people and things around" which is the entire point of them, yeah vehicles are terrible investments. You're partially right. Like I said to Krispy Kareem just a few posts down there, my napkin math is admittedly not completely fair, and a more fair point would be to calculate out the replacement cost of transportation, either a bus pass or a cheap reliable car. No one said anything about poor people not understanding investing. The point I was making was that the opportunity cost of an expensive new vehicle can be surprising. I know plenty of people that trade their slightly used car in for almost nothing, and buy a new $35k car just because they like the new features and want to have a month or two of the feel goods that come with a new car. Ultimately, if you boil down the cost of an expensive car into the years of labor required to make up the money, it looks grim. If the cost of a car was 5 years of additional labor in your life, I doubt many people would buy the car. I didn't make up 8% returns. It's a ballpark number for the real returns the stock market has averaged over the last 100+ years. 6% to 8% is fair.
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Dec 20, 2016 18:49
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paternity suitor posted:You're partially right. Like I said to Krispy Kareem just a few posts down there, my napkin math is admittedly not completely fair, and a more fair point would be to calculate out the replacement cost of transportation, either a bus pass or a cheap reliable car. No one said anything about poor people not understanding investing. The point I was making was that the opportunity cost of an expensive new vehicle can be surprising. I know plenty of people that trade their slightly used car in for almost nothing, and buy a new $35k car just because they like the new features and want to have a month or two of the feel goods that come with a new car. Ultimately, if you boil down the cost of an expensive car into the years of labor required to make up the money, it looks grim. If the cost of a car was 5 years of additional labor in your life, I doubt many people would buy the car. Hey hey, someone on facebook shared a Dave Ramsey animated video saying I should put the difference in a mutual fund with an average 12% return! I mean, yeah I would put hella money in a 12% average return fund, but they don't exist
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Dec 20, 2016 19:09
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paternity suitor posted:You're partially right. It's nice of you to give everyone partial credit. They're still more right than you are. Your "napkin math" leaves out so many things that it is pointless. You're preaching to the choir here and even the choir thinks you're way overstating things.
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Dec 20, 2016 19:18
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