ttoE550

Amen brother!!! +1 I grew up poor but got lucky about 15 years ago. Not the lottery, but some hard work paid off at a really good moment. I cringe at the thought that I once had to suffer the indignity of a credit check, the requirement of checking account drafts just to have service fees added (that add up to outlandish effective interest rates), the interest charged to credit card balances, the constant drumbeat of payments, etc. It really adds up. I've long thought these things -- brought on by the need to satisfy one's own ego and/or the "need to keep up with the Joneses," not necessarily by the greed of banks -- put people on a money-sucking treadmill that never stops.

One significant memory I have is from when an accounting professor told our class that financial independence is the greatest freedom there is. (It allowed him to butt heads with the dean in a very public spat.) It's true. The argument that you must make choices to avoid the remote possibility that you might void the warranty is not financial independence. Likewise, in another thread, a poster was chastised for having a too-high insurance deductible of $1000 - why? Another poster admitted that his joy of driving the car was diminished by his inability to park in a bubble-packed cocoon. Sad.

For the record, I took my car to the dealer for my Service A, and will for any other services. I got a free C350 loaner, had several warranty-related issues done at the same time, and the dealer is open late. The dealer is both nearby and counter-commute (unlike the local indy's), and is near some great restaurants. I had a nice dinner after picking up my car. $250? Worth it.

ghstudio

I don't disagree at all with either of you on the importance of financial independence, however what your accounting professer may not have taught is that once you have enough money to be financially independent, then there are different ways that you can use financing to further your independence...financing is not bad and you don't give up control or status by financing. Donald Trump borrows money to buy buildings/developments, many who can afford to pay off their mortgage continue to keep the mortgage so they have emergency cash available or buy an investment property. In my case, I lease when it's cheaper (or the same cost) to drive a car using leasing then buying...or when the interest cost is very close to 0% so I just don't have to tie up the full cost of the car in cash. Being financially independent and secure does not mean that you shouldn't finance some items or lease some items rather than purchase them. Financing does not imply that one who is financing or has a mortgage is living above their means or financially strapped. Financing options become tools that you can use to your advantage.

hyperion667

thanx for the support RNBRAD.....
it's an old fashioned sentiment, but I have always PAID AS I GO........
it's very important to me to not go into debt, the ONLY person in the world
I owe money to was my late Father....
never had a credit card, but I do use a check card sometimes, although I prefer cash.....
I will not get caught up in the game.......
I worked FULL TIME through college and know what it's like to never sleep....
and that is what the banks want you to do........never sleep.....
it's an age old addage: the banks run the world, not people.....
and I'll bet you guys thought gravity makes the world go 'round.....


one more thing: having some 19's (ten spokes) put on my amg today

K-A

Yeah, it's all relative. I have always done things the "old fashioned way", but recently decided to start playing "the game". Built my Credit up to well over 800, pay off my CC EVERY MONTH (never paid Interest on it), used to buy my cars cash, but just started trying out Leasing, and like having a nice cash balance to look at in the Bank (makes me feel good and "secure" ).

I don't have a Mortgage yet (Rent), so that's a whole other step, and that's the big one (not ready for it yet, obviously).

Also, I used to not care as much, as I like the idea of paying cash for something. Out of mind out of sight, once I spend it, it's gone, I don't remember it, and I just concentrate on the future income. Even with a car, I don't try and take in resale into consideration, I just spend the money, and don't focus on it. Then, when I sell the car, the cash from it is like a nice bonus (my last car I payed cash, an '08 Chevy Malibu, I drove for over 2 years, put on over 30K Miles, always parked outside, and washed only a handful of times, and recently sold for $200 less than I bought it for!).

I've recently however started to "play" with my money, in the sense of the "game". I.e, using the CC to build credit, opening up different Interest Accounts, trying to find ways to "let my money work for me".

To be honest, I'm good at making money by way of my career. Since I started "playing the game", it's gotten kinda stressful. Especially the Stock Market. One day I'm up $12, the next I'm down $5K (currently). I just probably just stick with what I'm good at and keep life simple.

RNBRAD

Those are some very good points ghst. There is smart financing and not so smart financing. I've often struggled with how much emergency cash do I need or do I pay off my home early type of decisions. The way a person should look at it though, is a payed off home is like money in the bank as I can borrow on my equity any time even for an emergency. My personal opinion though on the not so smart financing, and you can take this one to the bank, is if a person HAS to take 30yrs to pay off a home, they are really in something they can't afford. 30yr mortgages are designed where banks can make the most money with the least risk. I'm not totally against financing but 30 yrs to pay something off is- your living beyond your means and it's costing you dearly!!! Sure I could keep up with the Jones' and have a million dollar home finaced for 30yrs so I could afford it, then be like the rest of America and the crumbling housing market where people are financed to the hilt and can't afford their mortgages with small shifts in interest rates. I've thought about this, it is tempting no doubt, but I said no thanks, banks are not going to own me. Appreciation, depreciation of my home means nothing to me, it is paid for and no one can take it away and having that is absolutely priceless!!!

golfster

I sense this is turning into the typical car forum one-upmanship thread...

http://www.trulia.com/home_prices/

Everyone's situation and personal approach to finances is just that, personal to them. Not everyone has the same start in life. Some inherit money, some never do. Some had their college tuition paid for either by family or scholarship while others had to take student loans or couldn't afford to go at all. The median value of a home in one state is double or triple that of another...and in some states a starter condo is more costly (i.e., valuable) than the 6 bedroom home on five acres in another (see link). And the value of some of the homes that are paid for are equivalent to the short term checking accounts/mad money of others. Some live within their means in the most modest manner while others live for show. And some place a greater emphasis on accumulating net wealth while others are driven by a sense of benevolence and the distribution of wealth via contributions to charities, those less fortunate, etc.

It's all different and it's all personal to the individual. I believe in fiscal responsibility, but to each their own.

RNBRAD

The problem lies with fiscal irresponsibility. We are all now paying the debt of the ones that couldn't. Doesn't matter the variables of life, we can choose to live within our means or not. And in a lot of cases, those means should be defined by someone (without a conflict of interest, lol pun intended) meaning other than yourself or the bank trying to loan you money. A personal financial advisor is a good place to start if your known to make unsavy financial decisions.

ghstudio

I think we are all violently agreeing.

boschk

Those with YOUR interests in mind are few and far between is the problem.

hyperion667

HUGE +1

RNBRAD

hyper, nice rims. What are they and where is the thread with the pics?

GeoE63

I just got my car back from Service A ... what a waste of money. After shop fees it was $350 for the service. I had a coupon and they forgot to discount the service (I need to call about that). The main reason I decided to get the full Service A is that I requested that they update my Comand software so I could get Bluetooth audio. I got the car back and they said that it could not be updated ... other posts on this forum say otherwise. Regardless, according to the receipt, they just did an oil change and a 25 point inspection ... I could have had that done for $89

hyperion667

thanx Brad....
I have to give respect because I was partially influenced by your wheels

Mr Snappy

Yup, what I thought.

Of course, we will see the MB fan-boys trying to scare everyone with the "You can afford a Benz, but too cheap to maintain it" talk. Ignore them. Most logical car guys can smell the rat here....Same in the Vette world, Same in the BMW world, Same in the Caddy world, the STEALERSHIPS will try to scare you into their crazy priced service...its all about milking you of your dollars, not protecting your car investmetn.

K-A

IMO, fair value for an A-Service is $150-ish (that's what I paid via Coupon last year, unfortunately just a month before I traded my 2010 in, dammit).

Mad Dawg 350

Getting this thread back on track..

As long as my car is still under warranty, I will have the dealership perform the maintenance.

My car just had the "A" service performed. During the inspection, the dealership found oil leaking out from the cam plugs. The plugs were replaced under warranty.

If I did the service myself, I would have never known about the leak. If an independent mechanic did the service, who knows if they would have found the leak.

K-A

Good Indie's are generally just as capable as Dealer techs (emphasis on "Good Indies"), so I'm sure they would have found it all the same.

YYZ-E55

"Paid".

hyperion667

FWIW, the guy who owns the indy shop I like used to work at MB! so does his helper, so it makes sence to figure they know what they're doing you know?
I'm leaning more and more towards the indy for sevice B.....cheaper AND the dealer will be jealous, LOL.......

El Cid

One more benefit to getting it done by dealer is that their computer automatically ties into MBUSA computer for recalls, TSB's, latest information, etc. While independents may be able to obtain this information, will they and how often? Most of them work on cars other than M-B so would be a great expense for them to have to pass on.
I used a very highly recommended independent to work on a vehicle about 3-4 years ago. Totally screwed up the work and then denied it. Had to take it to a dealer to get it fixed.
BTW, if an independent found the leak, they would have charged you for the repair since they cannot file warranty claims with MBUSA.

stemags

Ive found a fantastic INDI in the 5 boro's area,,absolutely more meticulous and neat and clean than the last visit I made to a MB service area,,and the best part???? Half the Price. Listen you add it up and the money you save with an Indi is a nice MOD down the road.