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The Best of Mercedes & AMG
Sc#@w you kids-LOL
I do have the title to my viper/cls55/lexus/house/boat etc.......
but then again when ever you think you got it made there will always be someone else with so much more (this case-money) that will make you look like a panhandler-LOL so its better to lay low
-moldy
Get a Honda!
funny thing is my father who is now 83 and a self made man started driving mercedes in the late 70's. he used to drive caddys for 20 years before that.
he also paid cash for every car, and for that matter everything else he bought. He never had any freinds (mostly european immigrants) that would buy a car and finance/lease it. this group always drove what they could afford or in many cases much less than they could afford.
fast forward to the 90's. My father has new "younger" freinds he plays in a tennis group with. many drive real fancy cars, all leased or financed. I say to him once, "hey it look like so-and-so is doing well" his response was "people shouldn't drive a car if they can't afford to pay for it!"-LOL
shows the difference in the mentality between the generations huh! I agree with him in the respect that anyone that can afford a high end car really shouldn't care about the loss of capitol or the depreciation costs of owning VS. financing/leasing due to their financial position. but........it's the american way! (so to speak)
"I wonder what the graph would be on a AGE vs. LOAN? chart.
I'm 39, but I have my title on it and my cars and boat."
if you can afford isn't always the answer just becuase you have disposable income doesn't always mean you should throw caution to the wind. I had this conversation with one of my partners today. He had a porsche changed it for a hummer then changed the hummer for a gallardo. He had title on all these cars paid for them cash sold his lambo becuase he felt it attracted to much unwanted attention.
When it was all said and done he was left with a 30,000 check and a total loss of over 100,000 becuase of depreciation. CARS are a liability you are going to lose money on them they are not an asset.
With that said I agree with blackcard there is one word we should all strive for and that is "LIQUID" no debt and money in bank!!!!!
Sorry to hijack thread
Clos
My friend tells me he can "afford" a ferrari while he makes $120K/yr. What he really means is that he can make the payments on one not afford one. I think we all have gotten the definition of the word afford mixed up.
In my case "afford" means to be able to own something without it causing undue pressure on your finances. That's why I always, like your dad, try to live below my means. Which is probably the reason I am going to decide to go with a 550 over the 55.
Btw, I'm 30.
When your starting a new businesses and applying for loans by yourself or with partners, your Personal Financial Statement will clearly outline what your true capacity really is. If your in the 20-35 something crowd, it's good to keep that in mind.


