I'm sure the teller at the bank have an idea
Car ownership trend in richmond hill
- Thread starter LiNK666
- Start date
I don't see much in the way of judgemental thinking, other than "don't live beyond your means".
If you can afford your car, great. Most people here are referring to people who are in debt to their eyeballs yet feel the need to have a luxury car in order to sustain a certain image.
Expensive? People from Oakville or RH would consider it a poor man's car. Here you go with being judgemental
skapan
Well-known member
A repo man lives down the street from me, he uses a small car carrier that will fit 4 or 5 vehicles at a time. Never seen a Ford or Chevy on it, always Mercedes, Lexus, BMW, Porsche. It is nice of those people that make a few payments and lose the vehicle, because we can then pick it up for cheap.
How do i know? You're kidding right? http://www.cbc.ca/news/canada/story/2013/03/15/business-debt-worth-canada.html
You might not be the majority, but unfortunately the majority are not exactly responsible with their cash. Here read this one, mind you its from the usa but we're no different here in canada http://money.cnn.com/2011/08/10/pf/emergency_fund/index.htm
I also see this in my day to day life. Guys who make 30,000$ a year driving a 50,000$ brand new car and a $15,000 bike. Meanwhile after all the payments are said and done they can't even afford new tires. They have to decide between doing the scheduled maintenance or making a car/bike payment.
The minority of people actually have a budget, have money put aside and dont live beyond their means. Motorcycles aren't a necessity so generally you'll have people here who are better off than the average person and therefore won't share this view, but the reality doesn't change.
Congratualtions btw, you're not the majority :lmao:
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daught
Well-known member
If some people have a passion for cars, and they go for it... well each with his own. BUT I find it really retarded when people get high end cars just for the image and they never take them over 3K RPM. Never take a hard corner and never push their car. Those in my opinion are the biggest tools.
It doesn't matter if you buy a car at 0 or 5% if the payments are $1000+/mth - i.e. on any 50-60K car after taxes, delivery charge, etc. For many people 1K is a mortgage/rent payment.
Lots of people buy cars
for a lot of people leasing is a very bad way to have a car. Its great for company cars, the fun is funded corporately. But buying 5yr old BMW-M3 low 30's, the seven yr old M3 we bought in Chicago, 12grand. We looked at a C350 sales demo at oakville mecedes, could be bought under 40. If your a low km driver, these cars last a while and BMW and MB are slow to restyle drastically so your 5-7 yr old car can look great. 6 yr old porche boxster on the lot here in town my wife is looking at is $17,500.
Depreciation on high end cars is nutty, jag can drop 50% in 3 yrs.
A great car is no indication of wealth or debt these days, just appearances.
And I'm a "homeowner" so i can drive anything I want
for a lot of people leasing is a very bad way to have a car. Its great for company cars, the fun is funded corporately. But buying 5yr old BMW-M3 low 30's, the seven yr old M3 we bought in Chicago, 12grand. We looked at a C350 sales demo at oakville mecedes, could be bought under 40. If your a low km driver, these cars last a while and BMW and MB are slow to restyle drastically so your 5-7 yr old car can look great. 6 yr old porche boxster on the lot here in town my wife is looking at is $17,500.
Depreciation on high end cars is nutty, jag can drop 50% in 3 yrs.
A great car is no indication of wealth or debt these days, just appearances.
And I'm a "homeowner" so i can drive anything I want
Yeah, it makes me be a better racist.
That's scary **** man. It's funny, most people are incapable of using common sense.
Yeah, that's true. I never considered that much. They are good for the economy?
How are the house prices? If it's 500k for a 1400 sq townhouse then it may not be that far from richmond hill.
You sir are a genius.
Lots of people buy cars
for a lot of people leasing is a very bad way to have a car. Its great for company cars, the fun is funded corporately. But buying 5yr old BMW-M3 low 30's, the seven yr old M3 we bought in Chicago, 12grand. We looked at a C350 sales demo at oakville mecedes, could be bought under 40. If your a low km driver, these cars last a while and BMW and MB are slow to restyle drastically so your 5-7 yr old car can look great. 6 yr old porche boxster on the lot here in town my wife is looking at is $17,500.
Depreciation on high end cars is nutty, jag can drop 50% in 3 yrs.
A great car is no indication of wealth or debt these days, just appearances.
And I'm a "homeowner" so i can drive anything I want
It's true about appearance. I can see them justifying these cars if they are in sales or have an appearance to maintain because of social community or job.
I went to shop for a SUV recently and it was crazy to see how many people shopping and wanting all the extra packages with threatre, panoramic sun roof etc... I told the sales person all I care about is: 0% finance, heated seats and fuel economy. If they want me to really get me as a customer offer me free leather seats and that's enough luxury for me. I ruined my current cloth seats by being a sloppy pig and not taking care of my car so leather would be a good touch I hope. Only reason I get a new car is because I have to finance through business and it's 0%. I'm only looking at ford or hyundai. Even Honda and Toyota seem too expensive and luxurious.
Others I know that are working for themselves always go for high luxury cars with all the bells and whistles. Their argument is that they can write it off through the business and use it for personal so why not. It makes sense, but do you really need $100k car unless if it's a hobby or you take genuine pleasure in owning it a vehicle like that? So many people don't even understand what their car can do or what all the features all. All they say is I got x brand fully loaded.
That is some of the funniest logic i have heard over and over again. These people are so delusional they actually believe that the car is somehow "free" since they get to "write it off". Not one person that i ever spoke to actually understood what that means, except my accountant :lmao:
Yeah they separate business and personal too much. They don't understand your business is still paying for it. It's not free. You might pay less because the business is able to write it off. In the end you're just in a lower tax bracket for business. If all you care about is expensive a vehicle and can buy it outright it's better to buy a second hand car 1-2yrs old because you will get to depreciate it while not paying so much for brand new.
I never really understood how people living in town houses can get a ferrari or lexus.
rmemedic
Well-known member
I typically drive vehicles until they are done. They were always cheap vehicles. One of which I paid almost nothing for, drove the crap out of it for 3 years (I mean jumping it on certain roads, field driving, and whatever else a 19y/o does with a crappy car) and when it finally wasn't safe, I stripped it down, put it in a demolition derby, won enough money to cover the cost of the car and then made $150 at the scrap yard.
Last truck was paid off and still in great condition, but I outgrew it's capabilities (towing) so I sold it and for the first time ever, bought a brand new truck with over $10,000 off the sticker price. Sure, I'm paying for it each month, but it will last me well beyond the time I am done with payments. However, I didn't get the super-all you can order fully loaded truck, it just has what I needed. Something with good towing capacity, decent fuel mileage and reliable since I drive all over the place with my trailer on the back.
So many times I wish I was driving something like my old car... I had so much fun with it, didn't care what happened to it and I didn't have to pay for it. If I didn't have a need for what I am driving, I would have a 10 year old beat up 2 door manual.
I never judge a person's status on what they are driving. I see someone driving an older vehicle and I think they are being smart with money. And sometimes I see someone with a really fancy car and get the feeling they really can't afford the thing.
But, the same thing goes for houses. All I want is something small, economical with just enough space to keep everyone inside happy. My only 100% "Must have" is a decent sized garage and back yard.
I won't buy with the thought of impressing people... Heck, if I could find a nice enough mobile home on private property I'd move in!
Last truck was paid off and still in great condition, but I outgrew it's capabilities (towing) so I sold it and for the first time ever, bought a brand new truck with over $10,000 off the sticker price. Sure, I'm paying for it each month, but it will last me well beyond the time I am done with payments. However, I didn't get the super-all you can order fully loaded truck, it just has what I needed. Something with good towing capacity, decent fuel mileage and reliable since I drive all over the place with my trailer on the back.
So many times I wish I was driving something like my old car... I had so much fun with it, didn't care what happened to it and I didn't have to pay for it. If I didn't have a need for what I am driving, I would have a 10 year old beat up 2 door manual.
I never judge a person's status on what they are driving. I see someone driving an older vehicle and I think they are being smart with money. And sometimes I see someone with a really fancy car and get the feeling they really can't afford the thing.
But, the same thing goes for houses. All I want is something small, economical with just enough space to keep everyone inside happy. My only 100% "Must have" is a decent sized garage and back yard.
I won't buy with the thought of impressing people... Heck, if I could find a nice enough mobile home on private property I'd move in!
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Not if you spread your money around to different banks.
Well if you have one job its hard to do that
Sent from my tablet using my paws
You must talk with some stupid folks, all the guys I know (and me) get it that a company car is a taxable benefit and costs about $3500. in taxes. Now if your company pays you a mileage allowance, that's a reimbursement for expense. Not taxable.
If you lease a car for business, and its your business you still have to make a monthly payment and that payment has to come out of cash holdings so its still money out the door, not free. How could any idiot not get that?
Good part is if its your company and your making scale and you want to drive a 125k car, company pays the lease and you take a taxable benefit hit of about oh peanuts.
Buy a great 4x4 for "deliveries" and tow your trailer all summer for free, on gas the company pays for.
Audits suck, my accountant is worth every penny he hides.....
N3WMAN
Well-known member
So you're that guy they're always snickering about at Starbucks.
N3WMAN
Well-known member
500k will get you a lot to build a house on.
Oakville is an interesting market, the fishing cottages in Bronte are tear downs for 5-600k, townhouses at the bottom of third line are 500k, go over to Kerr and Speers and you can get a bungalow for 500. Then get anywhere near OTMH and its 1.5m + for anything and stays that way for a few blocks.
The starbucks beside WholeFoods has more BMW's than the lot over at Budd's dealership
Sounds like Richmond Hill. Take away BMWs and add Lexus + Benz.
