I don't understand your reasoning. What is wrong with having an AMG as your only automobile? It's only a car. A disposable car. Nothing special.

Not owning a home, renting, having an AMG as your only car, etc. may not make sense to you, but to many people it does. I'm perfectly content paying $13,000 per month rental for the time being and don't plan on buying anytime in the near future.

 

It was just a discussion we had at my office. There were some good views that they said... thats all. I just happen to agree with some of them. Now lets get to this 13,000.00 rental thing. I would hope that anyone making enough money to RENT for 13,000 a month, would own some type of real-estate somewhere thats my view!!!

 

On my way to work in the morning I pass a trailor home park and one of the homes has a new s-class in front of it every morning.I cant figure it out.
If the guy isnt a limo driver then he has to be a moron.

 

This thread is just

 

Now thats just dead wrong!!! Just sound like he or she have their priorities wrong

 

I think everyone have different prespective. I own my current home and several rental property, but before i was married, i didnt really care if i owned or rented.

My daily driver is currently spilt between the CLS 55 AMG or my 07 Gallardo. but thats my passion, i love my cars !!!! I personally never believed in buying a commuter car for Monday to Friday... wife drives a 07 M5. and we have a 08 Tahoe for the road trip.

 

Thought you bought a Bentley GT?

 

I had the GT for about 5 weeks, and got into a bad accident on the freeway in the rain. luckly i walk away without any big injury. looking possibly for a F car now.

 

This thread had the potential to be hurtful from the very beginning. Each of us are from different socioeconomic backgrounds and have varying purchasing capacities. I personally work my a$$ off to afford the toys I have. Some folks on this forum have more money than God and their CLS is a mere pawn to be set out in the driveway while their Ferraris, Bentleys, Lamborghinis and Aston Martins sleep comfortably in the climate-controlled garage. Then there (not their or they're) are folks who work, work and work and may never afford the cars we own and talk about so nonchalantly. I praise the folks who despite modest funds have such passion for the automobile that they forgo many other things in life (including a home) in order to drive, own or lease the car of their dreams. We are a group of enthusiasts here and have come together to celebrate our passion-not to segregate based upon the ability or inability to afford material goods other than our cars.

End of rant.....

 

very well put !!!!!

I recall back to my childhood, my goal was to purchase my dream car regardless if i was rich or poor !!!

I agree that most us are bless with career success, therefore we are able to fullfill our goals and dreams.... but building a foundation and owning a profitable assets such as a home is a very important part of financial security.

word of the wise... invest in Precious metals !!!!

 

Well Put!

 

Isn't is funny how a baby can require an additional 4,100 SF when the 2 of you were happy in 900 SF.

 

I use to have the same belief until they waved the commuter sticker carrot.
For the most part...I drive my Prius as my M-F car....not only because it gets 46mpg which basically equates to it paying for itself....but having that carpool sticker saves me from sitting in traffic! And we all know....time is money.

Also have a toyota truck for hauling and home projects....since we're talking about home ownership.....got to have one for those honey do list.

Use to have a S55 to haul the family around, but when they came out with the new body style...it was time to dump.....ordered a S63, but walked away and ended up with a cls55 because I didn't like the way they cheaped out on the leather in the S63.

And finally....the F430 spider is the me time car....when you need to get away from the screaming baby and irritating wife

 

I think this topic totally depends on who you are and what's important. I rent, and I own my toys outright, paid cash, no lease. I have a job that takes me out of the country at least three weeks out of EVERY month! Owning a home just isn't for me. I don't have time to cut the grass, clean the pool, or clean the house for that matter. And to be perfectly honest, I don't want to be tied to it. I like the idea that at anytime, for any reason, I can just pick up and go. I rent a very nice townhouse, but I'm not in love with it. I am in love with my toys though, CL500, ML350, and Ironhorse chopper. My daily driver is a 99 Saturn...the only thing not in a garage.
I am financially comfortable but don't need a house to define my level of success or determine my financial security.

 

You would be what we call an outlayer. The point of owning property is not so you can necessarily live in it. It is to establish your financial security by adding growth and ACCUMULATION to your nest egg. You may not see the need to buy a house, but I hope you are at least vested in something other than a salary. Salarys are great to pay the monthly bills, but rarely help you gain financial security unless they are invested (401K, houses, whatever).

 

Haha..... i love the F430 spider !!!! by the way, my daily commute to my office is approx 6 miles !!!! haha..... so thats the reason i am not concern about traffic or gas milage.....

 

you are absolutely correct.. and i hope you didnt take my message in the wrong way... before i had responsbility (i.e wife and baby) i also wanted to be able to pick up and go anytime as well.... actually i envy your lifestyle, my younger brother constantly rub in the idea that his life is a vacation 24/7. haha...

But on the other hand, i provide financial advise to my client daily, and in your situation i would normally suggest buying a average condo that is similiar to your current rent payment, and you will gain the tax benefit and possibly gain equity. When you are ready to get up and go... simply make it a rental property... also owning a house these days do not define any level of success, especially when most people purchase with 0 down, and stated income.... but the reason they do it, is to secure a financial foundation.

Again, please dont take my message as disrespect in anyway.... i love cars, and i love toys..... so i can understand everyone's prespective....

 

what can I say, the baby needs his space. Also I can hide from the wifey now!

 

I think it's pick your passion. Some are into cars, boats, traveling, sporting venues (box seats), etc... The wealthy have all the above, the rest work. My passion (poison) is old chevy classics. Now the real question is what will you tell your kids to do first? Buy the house or buy the luxury car? Don't forget the 200k if you kid wants to go to those high dollar CA schools with all the letters. That's a lambo right there. Bottom line is, it's takes money to make money. So whether your slamming it down on education for your kids or buying properties, everyone starts somewhere. Some have help, others don't. In real estate you will always be in the least amount of debt before you buy your first house. So instead of saving for 10 years and buying a house cash, the american way is to spend it and go make some more. No disrespect to owners here of Arab descent, but the ones I know make sure they have 5 convenient stores and 10 multi-family rentals before they buy a new kia. Damn I wish I had that kind of discipline. Oh well I'll just keep buying cars and keep saying that's the last car I'll ever buy.
Cruzinquick

 

Damn Your Good. Man you hit it on the Head and I will tell you that is exactly what anyone should do...

"in your situation i would normally suggest buying a average condo that is similiar to your current rent payment, and you will gain the tax benefit and possibly gain equity. "

 

I have the ML63 and the E55 as a daily driver. I also pay the payment on my dads SL550 every month. I dont see anything wrong with it. Those are just the cars that I love to drive, and it keeps me on my toes at work knowing that I HAVE to make a certain amount of money each month to keep my toys, and also pay for my mortgage, and whatever else I have to pay for. Before I bought my house , I was paying out the wazoo in taxes every year. (At the time I was single, 19, and made over a 100 a year.) After I bought the house, instead of owing the IRS money every year, I actually started getting money back. So, in that case, it does help to own a property, but then again its not for everybody.

 

Yep. I bought in Bluffview, which is in the Lovers/Inwood area. I smelled progress coming so I bought my place just before people started buying up everything around, tearing them down and replacing them with McMansions. I decided to follow their lead, and just lost $60k on one McMansion! The housing market sucks at the moment, but certain areas were great a couple of years ago!

 

haha... thanks i guess thats why i get paid for giving advise.. and manage a decent size funds account !!! but honestly since we are in the topic of investment and financial security.... everyone should put a 20% of their asset and profolio in Commodity. is a great way to hedge against our current economic conditon... Feel free to PM me any questions....

 

Well,I have a CLS AMG and I live in a condo.it has a garage.but not my own garage.
And the CLS isn't my dd...
So,if u could,would u mind being a little more specific?
Cuz I'm 19 and I don't want to own a home just yet.

 

Well,I have a CLS AMG and I live in a condo.it has a garage.but not my own garage.
And the CLS isn't my dd...
So,if u could,would u mind being a little more specific?
Cuz I'm 19 and I don't want to own a home just yet.