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Thoughts on new M3? 😍😍
The new X7 looks like a faakin’ Kia….
Anyone know if non-m cars have launch mode?
On the streets of London

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Pay for your cars in cash, then slowly upgrade when you can. Always pay cash.
You don’t need to spend over $10k on a car unless you’re fooling yourself into “needing” something newer / fancier.
PE1 is living pre-cash for clunkers era.
I paid cash for every car I’ve ever owned.
Chief
No judgements… but if money is cheap (anything less than 3.99%), it’s not really the best use of capital… I understand the behavioral rationale… but when you can use other people’s money for little to no interest outlay, it’s usually worth identifying more productive uses of capital…
Chief
That’s about average… I think the average new car purchase price is just below $50K… so straight line 10% down, plus taxes, fees and first month; comes to $750/mo (which is inline with the most recent survey)… but that’s for a new vehicle…
As others have said, you can absolutely get something less expensive… but if you can afford something that’s safer, more luxurious or fun to drive, that’s great… I’m sure you work hard, and you deserve to steep the rewards of that…
I’m an automotive enthusiasts and have more than a few… so I’m all for people buying what they want…
Well I am clearly an outlier here. I just paid $180k cash for a car, and I set aside money in the last 10 years for that purchase. Wife was supportive. My annual income is around $250k. We have savings and investment aside from the car purchase funds, no debt whatsoever (we paid off our house early).
Just another datapoint for OP, that people have different priorities when it comes to money 😉
Conversation Starter
😂😂😂
Most are covering with debt in other areas lol. For our two cars they’re $1,400/mo total. I’ve paid cash for cars since I was in high school, except for the two new vehicles I have notes on. I drove my old one until the wheels fell off, and my wife wanted to upsize for our kiddo. In my case, it made more sense to keep money invested because interest rates weren’t bad at the time.
I do remember when I was making 16/hr in undergrad and the amount I spend now makes me cringe a bit. It is nice having nice dependable things though. I also waited until the amount had no impact on my life to do it.
As for the folks who make $50k/year and own a $60k truck, I have no earthly idea how they do it.
Conversation Starter
Exactly. I’m around $180k salary and hesitate to look at anything over $55k. Yet I’m seeing some younger folks with $80k cars. I guess it makes sense if you don’t have a spouse or mortgage/rent to splurge on a car.
Buy a new car only once secondary/passive income can cover the payments. If not available, buy a beater
I pay $642 for my 2025 Odyssey Touring and $489 for my 2023 Passport. I plan to buy out my Passport lease next year for $28k instead of buy something else or lease something new. The car has 20k miles and they’re going for $29-31k used so basically a new car for market value.
I lease paying $170 per month for dodge hornet phev (48k), and 310 per month for Cadillac lyric (78k), all in including tax, no down payments. It’s really quite easy to pay this.
Conversation Starter
Nice!! Ev credit benefits were awesome