Over 10 years ago, back in the UK, my boss and I were both due new company cars at the same time. we both had a £17000 budget. He bought a VW Passat, I bought a Toyota Avensis. He, and the owner of the company, sniggered at me for choosing a Toyota. The owner of the company drove a VW Minivan. After a few road trips together they quickly decided that all future road trips will be in my car as I was the only one with electric windows and air conditioning. Their base model VW`s looked good on the driveway and that was about it. If you drive a lot of miles then whats inside a car counts, not the badge on the outside.
Car ownership trend in richmond hill
- Thread starter LiNK666
- Start date
Was the vw supposed to be more expensive?
Oakville? Change title of thread.
I'm 21 ergo my logic is: I can live out of my car, but I can't drive a house. Nothing to do with image, I just thoroughly enjoy my rent controlled place up where I go to school and I love my car and bike. I see no need at all to own property when my rent per month over a year is about the same as mortgage payments but with none of the risk (damage, maintenance and repairs) and none of the debt. Therefore besides what I put into savings my money goes into the car and bike.
FWIW I drive an Evo, but I'm selling her for a Lancer ES or GT/GTS cause I decided I'd rather have an SS. Insurance really sucks.
Last edited:
homme de fer
Well-known member
I know plenty of people that judge others based on the car they drive or how old it is. One couple I know put themselves on the edge of bankruptcy in order to finance two big new vehicles.
Myself, I drive a 12 year old Chrysler rust bucket 4 months a year; it gets me to work and back as well as the finest German engineered vehicle money could buy. My last car cost me a sweet $600 and lasted 5 years (never breaking down), I sold it for $250.
Myself, I drive a 12 year old Chrysler rust bucket 4 months a year; it gets me to work and back as well as the finest German engineered vehicle money could buy. My last car cost me a sweet $600 and lasted 5 years (never breaking down), I sold it for $250.
I live in a townhouse in Markham. Our previous neighbours had a b-series Mercedes for awhile. They were moving and selling a lot of their stuff. A lot was name brand clothes, electronics stuff, etc. They told us the reason for moving and selling everything was not because they were leaving the country which I had assumed, it was because they had too much debt, and were moving into one of their parent's place.
In contrast, you'd be surprised who are millionaires. They're the ones that are super cheap, drive somewhat crappy cars, dress "average", etc. They don't spend money, they save it and make it.
So, appearing rich and being rich are two different things.
In contrast, you'd be surprised who are millionaires. They're the ones that are super cheap, drive somewhat crappy cars, dress "average", etc. They don't spend money, they save it and make it.
So, appearing rich and being rich are two different things.
I've known people who worked hard for their $ and don't splurge on the best car. Just because a person doesn't drive a nice car doesn't mean they're not loaded. Not directing this at you
Sent from my tablet using my paws
I bought myself a new Mazda3 two years ago and for me that was the height of luxury.
To each their own, but I have far better things to spend my hard earned $$ on than a fancy car. Something that gets me from point A to B and is somewhat reliable is good enough for me.
To each their own, but I have far better things to spend my hard earned $$ on than a fancy car. Something that gets me from point A to B and is somewhat reliable is good enough for me.
The less I spend on a car, the more I have to spend on a bike 
If I didn't have the expenses of having motorcycles, then I'd probably have a nicer car to compensate. In the end it costs the same, but I rather a bike over car whenever possible. It just feels right.
You can call me a ****** if you want, but the good thing about all these people going into debt, is when they are forced to sell all their nice shiny things at a reduced rate because they're out of options. That's when you can get those fancy cars (and bikes sometimes) at a steal of a price.
If I didn't have the expenses of having motorcycles, then I'd probably have a nicer car to compensate. In the end it costs the same, but I rather a bike over car whenever possible. It just feels right.
You can call me a ****** if you want, but the good thing about all these people going into debt, is when they are forced to sell all their nice shiny things at a reduced rate because they're out of options. That's when you can get those fancy cars (and bikes sometimes) at a steal of a price.
It would be interesting to see how society would change if you could type someone's name into Google, and have their savings account balance show up. I'm guessing the Germans and the elite Japanese would lose significant market share. My sister is in financial management and mortgages, and some of the stories she tells me...good god how can people be so stupid with money?
Dave L
Well-known member
I like cars quite a bit so I can certainly understand the desire to drive a nice car. I have had 3 BMWs, 2 Porsches and have my Saab92x now. That said all were purchased used and paid for in under 2 years, I also was able to "buy" a house at 24 and will be mortgage free in a few years at 40. BUT to go deeply in debt on a depreciating asset to try to impress people that I dont know? I dont get it
kickstartt
Well-known member
Buy wat u like and can afford, thats all
NealT
Well-known member
You are still in school so that is partially true, however if you owned the place what you pay in rent now is forever non-recoverable, paying into your mortgage gets you equity which can be transferred back into money.
Here we go with the typical Gtam judgmental thinking. My mentality is "you didn't help me make my money, so don't tell me how to spend it." I'm not going to state my financial situation on here but I would have to think I made right choices with my investments so I'm going to treat my self to the things I like.
Some of you people think, oh he's young driving a better car then me, he must but in worse debt then me. Bottom line none of us knows anyone situation so don't assume.
Some of you people think, oh he's young driving a better car then me, he must but in worse debt then me. Bottom line none of us knows anyone situation so don't assume.
I agree with what you, but the reality is that the MAJORITY of people are in serious debt and they are horrible with their money.
At the end of the day everyone has their own brain and free will but i think the gtam crowd is just pointing out that maybe if a person is 600,000 in debts on a 400,000 dollar house a new bmw shouldn't be number one on the list lol
BTW i know people like that...if they sold everything they own they'd still have a mortgage :lmao:
Anybody who wants to wear their bank balance (real or frontin') on their driveway, can knock themselves out, doesn't bother me.
I have a 12 year old sunfire (GT no less), and I don't give a flying F# if I look like a broke *** driving down the road in it, I only
share what my income is with my accountant.
Aaaaand, with teenage sons working their way through the G1,G2,Gcrap, wtf would I want an expensive car?
I have a 12 year old sunfire (GT no less), and I don't give a flying F# if I look like a broke *** driving down the road in it, I only
share what my income is with my accountant.
Aaaaand, with teenage sons working their way through the G1,G2,Gcrap, wtf would I want an expensive car?
I honestly can't justify spending a lot of money on a car. I don't get the kind of joy from driving as I do from riding so a car to me is purely a tool to get around. Plus, driving a POS has it's advantages; feel like lighting a cigar in the car? Of course, why not? It's a piece of crap anyways. Jumped a curb? Again, who cares? Car got keyed? So what? It has 20 other scratches already.
bboySushi
Well-known member
I get the old mail from the people who rented my condo unit before me. I open it because I'm evil. They all have debt in the tens of thousands. Yet they still get "approved for credit card" mail. wtf.
There's a line from "Rich dad poor dad" (very interested book but take it with a grain of salt) and it basically says a Luxury car is exactly that - a LUXURY. If should only be bought when you have spare change and it doesn't impact your financial well-being. As said by many other people here, living beyond your means is going to end in disaster.
Huge debate on rent vs buying. Rent really isn't that bad, it's not throwing your money into a black hole, you have mobility, less responsibility, flexibility during financial crisis (easy to rent somewhere cheaper if you lose your job for example), etc.
Owning a home is badass though and very personal (renovations, etc.) and more often than not your home value will increase over 10-20 years to offset the interest (if you had a decent downpayment I would assume). Of course tons of other headaches - you need consistent income for the next 20-30 years, can't really do much about your neighbours since you're stuck there, you can't move according to your job, home insurance, repairs, etc.
I'm renting now while I accumulate enough for a 30% downpayment, and hit the market at the 'right' time. Should have just stayed at home with the parents like the traditional asian though....haha 5 years and you're good to go. Living on your own is fun times though.
There's a line from "Rich dad poor dad" (very interested book but take it with a grain of salt) and it basically says a Luxury car is exactly that - a LUXURY. If should only be bought when you have spare change and it doesn't impact your financial well-being. As said by many other people here, living beyond your means is going to end in disaster.
Huge debate on rent vs buying. Rent really isn't that bad, it's not throwing your money into a black hole, you have mobility, less responsibility, flexibility during financial crisis (easy to rent somewhere cheaper if you lose your job for example), etc.
Owning a home is badass though and very personal (renovations, etc.) and more often than not your home value will increase over 10-20 years to offset the interest (if you had a decent downpayment I would assume). Of course tons of other headaches - you need consistent income for the next 20-30 years, can't really do much about your neighbours since you're stuck there, you can't move according to your job, home insurance, repairs, etc.
I'm renting now while I accumulate enough for a 30% downpayment, and hit the market at the 'right' time. Should have just stayed at home with the parents like the traditional asian though....haha 5 years and you're good to go. Living on your own is fun times though.
How do you know?
I bought 2005 c class(not really anything special) in 2007 and I get these crazy remarks from co-workers saying I'm stupid with my money. Mind you they know how much I make but they do not know what I do with my money(got some investments). Also I paid less for my car then a brand new civic. And IMO it is a much better car. Yes maintenance is more but I work on it my self so for most part so it's not a killer.
I'm just saying no one know everyone's situations so don't assume what people can afford and what they can't.
