That is too funny!
Sounds like my kind of guy.
This is true. There is little financial sense in investing in a rapidly depreciating and expensive item.
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These cars make you look rich? Really?
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That is too funny!
Sounds like my kind of guy.
This is true. There is little financial sense in investing in a rapidly depreciating and expensive item.
One of my friends falls into the millionaire category and has two vehicle. One is an 80's Audi 5 cylinder car he saw in someones backyard, bought it, fixed it and now drives it regularly. The other is an early 90's F-250 that he bought of craigslist for a few thousand dollars. The pickup replaced the '86 F-250 he sold to me for $50.
This same guy used to buy a new Z28 every couple years so he wouldn't have to change the oil, lol.
This same guy used to buy a new Z28 every couple years so he wouldn't have to change the oil, lol.
like the genesis
<--(I can't talk about that car w/ out smiling;laughing). Interesting car I will admit but I just can't take it seriously; its like Hyundai is trying WAY too hard (plus it looks like 5 other makes rolled into one blob).Attachments
Yeah there are some places here like that with $100k+ cars parked outside shanteys. Except I think it's just cars parked outside while they pick up their crack supply.
1. 2010 Kia Soul- Looks like a square....something that a grad student would drive.
2. 2010 Suzuki Kizashi- Looks like a car for guys who want to race people.
3. 2010 Mazda MX-5 Miata- Looks like a car a parent would buy their son/daughter.
4. 2010 Chrysler 300- Has had a bad reputation in my neighborhood for being "ghetto"
5. 2010 Ford Flex- Looks like a mini-van for soccer moms.
2. 2010 Suzuki Kizashi- Looks like a car for guys who want to race people.
3. 2010 Mazda MX-5 Miata- Looks like a car a parent would buy their son/daughter.
4. 2010 Chrysler 300- Has had a bad reputation in my neighborhood for being "ghetto"
5. 2010 Ford Flex- Looks like a mini-van for soccer moms.
Those cars look like they're for rich people who got that way by being smart with money.
*shrugs shoulders*
Just sayin'.....
*shrugs shoulders*
Just sayin'.....
I used to design high-end home theater and automation systems for multimillion dollar homes in AZ. One thing I will say about millionaires is that most of them (there are exceptions, of course) are pretty conservative with their money and don't always drive the flashiest cars.
One of my clients from a couple of years ago had a $3M home custom built with about $100k worth of electronics. Guess what he drove? A Toyota Sienna.
Some of the more "modest" houses (if you want to call a $500-650k house modest, anyway) I worked on would have two Range Rovers parked in the driveway. I can only imagine how drowned in debt those people were...
I had another client who lived in a CONDO and had a Porsche and Ferrari parked in the garage. And the funny thing about this guy is that he would get bored with cars rather quickly and swap them out for different ones every 1-2 years.
The point here is that some people don't care about having the fancy car. Cars are historically bad investments. They depreciate and wear out. No matter what car you buy, it loses 20% of its value the second it rolls off the lot. Financially savvy people (both modest and rich alike) will tell you that fancy cars are horrible investments. The money they save NOT indulging in that fancy ride can be kept invested.
One of my clients from a couple of years ago had a $3M home custom built with about $100k worth of electronics. Guess what he drove? A Toyota Sienna.
Some of the more "modest" houses (if you want to call a $500-650k house modest, anyway) I worked on would have two Range Rovers parked in the driveway. I can only imagine how drowned in debt those people were...
I had another client who lived in a CONDO and had a Porsche and Ferrari parked in the garage. And the funny thing about this guy is that he would get bored with cars rather quickly and swap them out for different ones every 1-2 years.
The point here is that some people don't care about having the fancy car. Cars are historically bad investments. They depreciate and wear out. No matter what car you buy, it loses 20% of its value the second it rolls off the lot. Financially savvy people (both modest and rich alike) will tell you that fancy cars are horrible investments. The money they save NOT indulging in that fancy ride can be kept invested.
Such a cool idea. And their newer concepts.
But alas, it looks like they will be folding their tent.
Genesis
-Aaron-
Even if you can't take the Genesis seriously, the automotive press did: It was the North American Auto Show Car of the Year in 2009. Apparently it's quite a vehicle.like the genesis
-Aaron-
I'm not a fan of the Genesis sedan, but the Genesis Coupe looks like an excellent car, and if I had to buy a new car soon, I would give it a serious look and at the very least, take one out for a test drive. I used to have a Hyundai Tiburon (the Genesis Coupe's slower, front wheel drive predecessor) and it was a fun little car.
Depends on where you live. A $500-650K house in most places around Boston will be anything but fancy. Quite a few people have apartments worth as much.
Also not entirely true. There are quite a few cars that keep their values well. Examples include Honda S2000, Subaru WRX, Lancer Evo, etc. I've seen 1-2 year old WRXs being sold for only $1-2K less than a new one can be purchased for. But altogether you're right, generally modern cars are poor investment.
Same here. The average cost per square foot for a custom home here in the outskirts of Houston is around 90 dollars.
So do 600k/90 and you get a 6,700 square foot custom built home.
Now go into downtown area of Houston and you get a 2,000 square foot home built in the 40's or 50's for around 650K.
Well, the thing is, a car shouldn't be considered an investment; purchasing a car is consumption not investment, with very few exceptions.
Those cars definitely don't make you look rich, they make you look pretty damn average. There are plenty of wealthy people with inexpensive cars and many who buy higher end cars on the used market. Of the millionaires I know, for the most part they drive Mercedes Benzs.
And $650k for a house where I am is pretty much the average house price, though its declined from that number recently I believe; you get less than 2000 sq ft for that in a decent neighborhood.
1) A car is generally a liability, not an investment (with the exception of classic/antiques and perhaps a few others) so it gets old seeing people use the word investment to describe their new Kia/Honda/Whatever
2) There is little/no correlation to be made between what car someone drives and how wealthy they are
3) A lot of affluent people drive boring old cars because quite frankly, they don't give a crap about cars and don't hold any interest in them
4) A lot of comfortable middle-class people drive nice cars because they can comfortably afford them and/or have a passion for them, so that is where they put their money, much like how many people here put their money in Apple products
5) Personally I'd much rather have a $650k house and a couple really nice cars out front and live comfortably still with enough money in the bank than be a multi-millionaire driving a $3 car and wearing a $2 shirt just to have an extra zero on my bank account
2) There is little/no correlation to be made between what car someone drives and how wealthy they are
3) A lot of affluent people drive boring old cars because quite frankly, they don't give a crap about cars and don't hold any interest in them
4) A lot of comfortable middle-class people drive nice cars because they can comfortably afford them and/or have a passion for them, so that is where they put their money, much like how many people here put their money in Apple products
5) Personally I'd much rather have a $650k house and a couple really nice cars out front and live comfortably still with enough money in the bank than be a multi-millionaire driving a $3 car and wearing a $2 shirt just to have an extra zero on my bank account
Understood. My numbers more or less refer to the market where I lived in Arizona. In a nice neighborhood like North Scottsdale, $650k will buy you your average, 1800-2000 sqft "upscale" home. In Los Angeles, that same money would get you a modest 40-50 year old house in a so-so neighborhood. In some parts of the country, $650k buys a McMansion. I get that.
Vehicle depreciation depends a lot on the area you live in as well. The desirability of a particular car may be high in one part of the country, whereas in other parts of the country it may not be. And are you talking private party value or dealership retail value? Those are two totally different numbers. A good 1-2 year old vehicle in acceptable condition and low miles known for reliability can potentially sell for close to original value at a dealer (where they'll probably certify it with the manufacturer to mark it up more), but very rarely will that same car sell for its original value on the private market. There are exceptions, of course.
But anyway, I was merely trying to illustrate that the type of car one drives doesn't necessarily correlate with his wealth.
I dunno how much of a millionaire you look in those cars (sans the '300' as other people have mentioned) though I know a few rich people who drive "normal" cars.
Hell my grandpa (step-grandpa actually) is a multimillionaire and drives some ugly $25,000 red Oldsmobile that he bought used...
Hell my grandpa (step-grandpa actually) is a multimillionaire and drives some ugly $25,000 red Oldsmobile that he bought used...