05-04-2015, 03:06 PM
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#13 (permalink)
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Enthusiast Member
Join Date: Nov 2012
Location: So Cal
Posts: 296
Drives: 09 370Z
Rep Power: 14
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Quote:
Originally Posted by vtec to vvel
my take on getting a higher-end car is you shouldn't buy it if you are concerned about depreciation. you shouldn't buy it if it's gonna make every penny you earn go into the car and have nothing left over to enjoy. and you shouldn't buy if you won't have the $ to do the maintenance either yourself or the dealer.
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Totally agree. My friend used to work at Newport Beach import group as a finance guy; I believe this dealer is now Fletcher Jones Mercedes. Anyways, when he worked there in the late 90s, he told me that guys who could afford new Porsches, either paid for them in cash or leased them. He said that wannabes are the guys who had to finance them, or bought used ones because they couldn't afford them brand new. These guys on the lower end made $300K/yr. and it wasn't uncommon to see customers that made over a 1M$/yr.
Yeah, putting most of your eggs into a high end car when you only make "working class" level money isn't a smart idea. And it's only a matter of time before that car says bye bye because the flat bed comes to pick it up....while you're sleeping.
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