This forum is talking me out of buying

[Plati]

So am I the jerk for driving a Navigator or my wife for buying it? Lol I think it takes a certain mentality to earn the cash that the ‘fancy’ cars require. I wonder if this is just a case of superior intellect being misunderstood or envied by the lower level hominids.

The article only mentions the German makes so maybe I’m safe.

Slight difference ... if a "jerk" prefers a fancy car, that doesn't mean all people in fancy cars are jerks. Just a prediction of what kind of car a "jerk" will want.

I like having my BEATER and my plush 2014EL. I can switch personalities on any given day.
And depending on my date that night, I have it covered.
"We're going to dinner at a fine Scottish restaurant - McDonalds"

this is all tongue in cheek stuff

 

[Lou Hamilton]

Slight difference ... if a "jerk" prefers a fancy car, that doesn't mean all people in fancy cars are jerks. Just a prediction of what kind of car a "jerk" will want.

I like having my BEATER and my plush 2014EL. I can switch personalities on any given day.
And depending on my date that night, I have it covered.
"We're going to dinner at a fine Scottish restaurant - McDonalds"

this is all tongue in cheek stuff

Some of the biggest "jerks" in the Washington, DC metro area drive POS crap cars...

 

[5280tunage]

Same can be said for every auto maker. They all source parts from the same sources. Having said that auto makers the larger ones have more pull to get better quality stuff. Just ask a current Subaru owner or Volvo, Jag owner. Its not pretty

Completely true, look at why the Tacata airbag issues are impacting so many MFR's. Regardless of what label is on a part, they likely all come from the same places.

 

[5280tunage]

tourbo's might be great for power and meeting EPA metrics. Can't every see how they would be great for reliability. I am a retired engr and I raced cars for almost decade. Don't won't tourbo's on my passenger car. Lot of heat and pressure. Not good for reliability. Not a fan of the EPA sponsored "Stall/start" systems either. Give me an expedition with a normally aspirated V8 and no Stall/Start. and also an ABS that can't fail all brakes at once. The ABS HCU should have two hydraulic compartments just like the master cylinder. That's the way I would have designed it to avoid the "no brakes" problem that we solved in the late 60s.

This may be true from a mechanical perspective, but I can tell you my parents had a 1987 Subaru with a turbo that last over 10 years and 200K miles, at altitude, without a strong intercooler. Did pretty well.

 

[t_bois]

You better look for something that has all the options you want (make a list and prioritize it) and go for it. However, if you just want a ride that will not cost a whole lot to fix, then the more basic, the better/ the newer the better/ the less miles the better/ single owner no accidents are better/ and a clean looking inside means someone didn't mind taking care of things. All that ****/bang stuff on upper end models breaks and costs $$$ to fix (you can't have it all). I expected to spend money on the Expedition I bought, but I also like some of the features you can't get in the other models/makes and unless you are willing to buy something brand new, better have $$$ for the backup plan.

 

[byathread]

"We're going to dinner at a fine Scottish restaurant - McDonalds"

[emoji23] my dad took my two oldest boys to the Scottish restaurant, built it up pretty good that whole day they were out and about. My oldest was pissed! [emoji12]
Apple doesn't fall far!

 

[bret191]

I’ll tell you, I’ve had a lot of cars. The nicer they are, the more people let you out in traffic. Same areas, I wear the same clothes. I’m scum in lower end or worn stuff, a king in others. Strange.

One family member keeps a Benz, caddy, etc at all times. Swears cops let you go by more because they don’t know who they are fooling with that will cause them trouble for messing with them. Politics.

I kinda thought something was wrong. Now I know your full of bull!

 

[Diverdown]

Some of the biggest "jerks" in the Washington, DC metro area drive POS crap cars...

I hear Maryland is the worst, is that right?


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[Lou Hamilton]

I hear Maryland is the worst, is that right?


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I'd say top 3 in the DMV metro region.

 

[Diverdown]

If this loaded right, this is what is coming.

So that’s the one you decided on buying?


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[carymccarr]

That was actually my take when I first saw this story......

Brad from Shipping/Receiving is a super nice guy who always uses his blinker and stopped in the road last week to let some ducks cross. But he doesn’t make the scratch to buy anything more than a Camry. Deklyn, however, the a**hole who’d trade his mother for $5...he pulled down $800k last year when he closed his Series B and just bought the new AMG GT63S and is unaware it came with blinkers.

(No offense to anyone named Brad, or Deklyn, or who works in Shipping/Receiving, or drives a Camry, or a GT63S, are any of their mothers...this is a sarcastic post).

Someone who buys a $200k car when they ‘only’ make $800k is not only a jerk but a stupid, soon to be, broke jerk...

 

[Diverdown]

Someone who buys a $200k car when they ‘only’ make $800k is not only a jerk but a stupid, soon to be, broke jerk...

Unless he buys it cash with no loan cause he can afford it. And he’s planning on keeping it a while.


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[carymccarr]

Unless he buys it cash with no loan cause he can afford it. And he’s planning on keeping it a while.


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It would make more sense to invest the $$$ and get a low interest loan.

But either way, a $200k car on a $800k salary is stupid stupid stupid.

IMO.

 

[Lou Hamilton]

It would make more sense to invest the $$$ and get a low interest loan.

But either way, a $200k car on a $800k salary is stupid stupid stupid.

IMO.

$800K salary does not include investments. I make $x.xx amount from my employer, but that doesn't count any real estate or stock investments that I may have throughout the year. Or how about inheritance. That would not be included in a salary.

Now if the terminology was "taxable income," I agree. But not knowing the entire scenario, I would not come to the same conclusion due to the many unknown variables.

 

[Diverdown]

It would make more sense to invest the $$$ and get a low interest loan.

But either way, a $200k car on a $800k salary is stupid stupid stupid.

IMO.

Good point about getting a low interest loan and investing the cash. What do you think the right ratio for income vs car price is?


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[carymccarr]

$800K salary does not include investments. I make $x.xx amount from my employer, but that doesn't count any real estate or stock investments that I may have throughout the year. Or how about inheritance. That would not be included in a salary.

Now if the terminology was "taxable income," I agree. But not knowing the entire scenario, I would not come to the same conclusion due to the many unknown variables.

Sure that’s fair. I’d assume someone making $800k also has substantial investments for retirement but you’re right, I don’t know the whole picture.

I would need at least $4m in taxable income to be buying a $200k car but that’s just my own comfort zone ratio.

 

[carymccarr]

Good point about getting a low interest loan and investing the cash. What do you think the right ratio for income vs car price is?


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Who knows honestly. Personally I guess i wouldn’t go over 5% of household taxable income for a single vehicle.

 

[Dice Roll]

It’s here. Came as a surprise tonight. Went for a drive and messed with some stuff on it.

sadly it’s first trip to the dealer will be soon. Has a list of stuff that won’t work and “needs service.” Some sort of sensor is out so it won’t switch drive modes, park itself, prevent a collision and some other things I can’t recall.

otherwise it’s pretty damn cool. Good thing I got the warranty.

 

[Dice Roll]

I’ll have to read through this stuff later. Looks like an interesting discussion evolved? Just what I see on this page.

I’ll tell you guys, 800k is so far into 1%er territory it’s hard for most to understand how much money that is. Those are exactly the people that can pick up a 200k car and it’s not an issue. Two back of the envelope formulas you can use are House is 2.5 times your gross and car is half gross. So 200k car is not a sweat for 800k.

 

[aggiegrad05]

I’ll have to read through this stuff later. Looks like an interesting discussion evolved? Just what I see on this page.

I’ll tell you guys, 800k is so far into 1%er territory it’s hard for most to understand how much money that is. Those are exactly the people that can pick up a 200k car and it’s not an issue. Two back of the envelope formulas you can use are House is 2.5 times your gross and car is half gross. So 200k car is not a sweat for 800k.

I’m with you on this one...I’m very surprised by some takes on here. So someone that has an $800k salary is bringing home, after taxes, about $40k per month. @carymccarr is suggesting that person shouldn’t buy a $200k car.

Assuming that person is taking a regular old car loan at 3.11% (which is almost certainly not the case...they’re likely instead paying cash, leasing, etc), that’s a $3,600 payment, or 9% of their monthly income. That is high, but not absurd. Certainly not if they have a low house payment, no house payment, etc.

If you limit yourself to buying a car valued at 5% of your taxable income, you’d have to be making $1.6mil in taxable income a year to be able to “afford” a platinum Expi. I don’t know too many folks making that kind of money a year (and I work with several) driving a Ford.

Of course all your other expenses come into play, but that just seems wildly conservative. To each their own, of course and certainly someone using the 5% guide as @carymccarr suggests should be commended for their restraint.

Again, I’m not arguing here, I’m just fascinated at the take. And it is certainly not the approach taken by most given the average salary in the US is $56k and the average car sales price is $36k. (Granted, someone making $56k should absolutely NOT be buying a $36k car, but the numbers are informative.)