Automotive

At what salary til you should invest into a new car?

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  • Jun 13th, 2015 10:32 pm
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Penalty Box
Dec 27, 2013
8003 posts
3957 upvotes
Toronto
dudeexcellent wrote:
Jun 10th, 2015 11:38 am
So, you mention bonds are low risk as well and specifically call out bonds as safe and specifically AAA. I point out that Canadian AAA corporate debt is very hard to come by (and I said Canadian since currency risk is off the table if truly "low risk") and ask for examples. Your first example is a High Yield US debt ETF and the second one has its top two holdings in High Yield funds.

Like you said....Thanks for coming out.

Now please show me a dedicated AAA Canadian corporate bond ETF. You can't, so your forced to OTC.

XHB

XLB

oh yeah and this is yielding north of 3% and it's GOVRNMENT bondsssss lol

XCB

XIG


so please go back to your basement. .. granted, I don't know if every bond in the holdings is AAAAAAAAAA but, so what... of course there is interest rate risk.

anyway don't even know what there is to discuss with you any more.. you keep going in a circle.

There really is only 2 ways to look at this:

1) opt for the "Cash savings"

2) you invest your cash and earn more.

treva has a arugment about people that can't afford neither option.. but that';s not what the conversation with the rest was... his onion -yes i said onion because his opinion reeks - is that if you have cash you should BUY the car outright and not invest. Which is a silly opinion and only someone in the poor house would come up with that.
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Sep 30, 2001
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Seems like an adult has to step in and remind everyone to a) keep it on topic (what was the question again?) and b) it is possible to have a conversation without tossing around personal insults. Make liberal use of the ignore button - it's free and works fairly well.
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Jun 18, 2008
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chroma_cg wrote:
Jun 10th, 2015 3:41 pm
why would you not buy a 2-3 year old car when someone else would have absorb the biggest portion of the depreciation for you?
Maybe because the majority of used cars are complete garbage and filthy?
Deal Fanatic
Oct 7, 2010
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MrDisco wrote:
Jun 11th, 2015 10:34 am
Seems like an adult has to step in and remind everyone to a) keep it on topic (what was the question again?) and b) it is possible to have a conversation without tossing around personal insults. Make liberal use of the ignore button - it's free and works fairly well.
Can't help them as one group is mad jealous that people buy new cars and they themselves saves living like pan handler while bragging how much money the made VS the spending group who feels insulted that people are judging them on their decision to live a little or a little more. I bet these guys are like this in real life.

I feel they are all like children or teenager telling each other who has the bigger marbles in their pants. Make decisions in life and deal with it. Meanwhile they are all feeling sorry for themselves and put each other down just to feel better.
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Aug 20, 2007
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spike1128 wrote:
Jun 11th, 2015 5:52 pm
can't help them as one group is mad jealous that people buy new cars and they themselves saves living like pan handler while bragging how much money the made vs the spending group who feels insulted that people are judging them on their decision to live a little or a little more. I bet these guys are like this in real life.

I feel they are all like children or teenager telling each other who has the bigger marbles in their pants. Make decisions in life and deal with it. Meanwhile they are all feeling sorry for themselves and put each other down just to feel better.
bingo..... :)
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Nov 2, 2013
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Edmonton, AB
Everyone is going to say something different.

You have millionaires that may tell you that any car beyond purpose of getting from point a to b with enough seats is useless.

Many cars are luxuries and toys, so as long as you're saving a fair bit of money per month and getting ahead in life, then don't see it being an issue. You can say this guy is an idiot for driving a BMW, but in a way your vacations and Starbucks are luxuries also, and you and I can fight endlessly about why things like expensive rings are also useless, while someone else would gladly pay your BMW's worth for one.

There are investment cars too that only so many are made though and are well sought after, but those aren't your everyday cars and not relevant for this discussion.
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Feb 24, 2015
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^ It's definitely a luxury. I bought a $12k car in 2009, traded it in for $2500 in 2014, bought a $38k car. The $9500 depreciation I had over 5 years with the first car is probably pretty close to the depreciation my current car has experienced in the little more than a year that I've had it. Obviously the current car is nicer than the old car ever was, but is it really that much nicer? No, no it is not. But I do have to say that my pride of ownership is considerably higher. Not going to lie, I feel a lot better rolling up to some place in the BMW than I ever did in the Chevy. As superficial as that is, it is what it is. And I bet that applies to most people who buy more expensive cars. Tough to put a price on that feeling, but some value it more than others, and some pay A LOT more for it than others.
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Dec 19, 2013
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North Vancouver
justaskthescientician wrote:
Jun 11th, 2015 10:50 pm
^ It's definitely a luxury. I bought a $12k car in 2009, traded it in for $2500 in 2014, bought a $38k car. The $9500 depreciation I had over 5 years with the first car is probably pretty close to the depreciation my current car has experienced in the little more than a year that I've had it. Obviously the current car is nicer than the old car ever was, but is it really that much nicer? No, no it is not. But I do have to say that my pride of ownership is considerably higher. Not going to lie, I feel a lot better rolling up to some place in the BMW than I ever did in the Chevy. As superficial as that is, it is what it is. And I bet that applies to most people who buy more expensive cars. Tough to put a price on that feeling, but some value it more than others, and some pay A LOT more for it than others.
It is true and its really sad when you think about it. My BMW really brought me into a different group of people. During university or even high school, there was always a class system and these people kept to themselves with the occasional hanging out with the other classes. My BMW was able to connect me with the upper classes, which in turn got me connections with their families and friends. This gave me the supplies to start my own import/export businesses and the startup money. They even gave me some insider tips on companies when I told them I was also into stocks, which is how I financed my car.
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Feb 24, 2015
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I didn't really mean it like that, but yeah. There is a reason why it gets easier and easier to make more money when you make more money. Exactly why the "rich get richer."
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Aug 29, 2011
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bomiheko wrote:
Jun 11th, 2015 11:53 pm
It is true and its really sad when you think about it. My BMW really brought me into a different group of people. During university or even high school, there was always a class system and these people kept to themselves with the occasional hanging out with the other classes. My BMW was able to connect me with the upper classes, which in turn got me connections with their families and friends. This gave me the supplies to start my own import/export businesses and the startup money. They even gave me some insider tips on companies when I told them I was also into stocks, which is how I financed my car.
Correct me but your Asian right ?

I don't think it work like that for Caucasian.

I know a lot of millionaire (all white), they all drive piece of crap cars for daily driving (some also have sport car for fun).
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Oct 13, 2009
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justaskthescientician wrote:
Jun 11th, 2015 10:50 pm
^ It's definitely a luxury. I bought a $12k car in 2009, traded it in for $2500 in 2014, bought a $38k car. The $9500 depreciation I had over 5 years with the first car is probably pretty close to the depreciation my current car has experienced in the little more than a year that I've had it. Obviously the current car is nicer than the old car ever was, but is it really that much nicer? No, no it is not. But I do have to say that my pride of ownership is considerably higher. Not going to lie, I feel a lot better rolling up to some place in the BMW than I ever did in the Chevy. As superficial as that is, it is what it is. And I bet that applies to most people who buy more expensive cars. Tough to put a price on that feeling, but some value it more than others, and some pay A LOT more for it than others.
I'm actually considering acquiring a BMW. On a scale of 1-10, how would you rate the badge for prestige?
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Aug 12, 2006
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nasa25 wrote:
Jun 12th, 2015 10:42 am
I'm actually considering acquiring a BMW. On a scale of 1-10, how would you rate the badge for prestige?
BMW does not impress me at all ... might as well buy an Acura or an Infiniti and at least get reasonable maintenance and reliability.

You have to go to at least a Porsche if you want prestige, or if you insist on BMW, M-roadster or 6 series.

Most Bimmer owners come across as looking like poseurs to me.

You asked, my two bits ... let the poseurs roast me.
Sr. Member
Dec 24, 2009
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raspeed wrote:
Jun 12th, 2015 11:50 am
BMW does not impress me at all ... might as well buy an Acura or an Infiniti and at least get reasonable maintenance and reliability.

You have to go to at least a Porsche if you want prestige, or if you insist on BMW, M-roadster or 6 series.

Most Bimmer owners come across as looking like poseurs to me.

You asked, my two bits ... let the poseurs roast me.
Haha expect about this kind of attitude towards you when you roll in a Bimmer. People are going to hate and they are going to race and they are going to talk ***** about reliability and all that. You just have to learn to let it go. If someone is so worked up about your ride, you are already winning.
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Aug 12, 2006
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Ken_vs_Ryu wrote:
Jun 12th, 2015 12:32 pm
Haha expect about this kind of attitude towards you when you roll in a Bimmer. People are going to hate and they are going to race and they are going to talk ***** about reliability and all that. You just have to learn to let it go. If someone is so worked up about your ride, you are already winning.
I don't hate people who drive a leased 3-series, I just fail to see the point that is all. Anyone who is wealthy isn't going to give your 3-series a second glance, nor is any real "car guy". The only person you might impress is your grandma who grew up driving Oldsmobiles. To each their own but there are better ways to "ball on a budget", so whatever prize you won, enjoy. :)

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