"If it flies, floats or fornicates, always rent it.. it’s cheaper in the long run." - Felix Dennis
I moved to California in 2007. If I had purchased a house, instead of renting like I do now, I would be quite underwater on it by now.
The Real Cost of Owning a Car
31–40 of 76 posts
Re: The Real Cost of Owning a Car
#32Yes cars are extremely expensive. But for many the ability to live within driving distance of work is worth it. I know people who don't have cars. They really miss them. I can drive 250 miles to see my family on a whim. It takes 4-5 hours. Taking public transit requires 7-8 hours, and only gets me within 25 miles of my parents' house (which is pretty good compared to much of the US). And something like reliability is…
Anecdotally, for the first time in 6 years I don't have a car and I'm loving it. I'm living about 10 minutes walk from the CBD. To visit anyone I'd fly anyway, and the airport is only 15 minutes away by bus. Walking everywhere is much more satisfying, and not having to worry about breakdowns, oil changes, registration - not to mention the cost - is very nice. On the occasion that I decide to take a road trip, I can r…
You're truly blessed to be living in such an ideal location. I'd kill to be able to be 10 minutes away from both the CBD and the airport.
Re: The Real Cost of Owning a Car
#33The one thing worse than car ownership? Taking a loan out to buy the car: http://www.itulip.com/forums/showthread.php?t=634&pagenu... . I'm shocked at how we allow people to take 5 year loans for cars that depreciate 30+% over that time.
I live in Texas where a car is required, and bought a "new-to-me" year old used subaru a year after graduating college, with a couple years of warranty left on it. It was mentally better than paying to maintain my previous car, which needed thousands of dollars in repairs. I do all the easy maintenance (oil/coolant/filter changes) myself, and hope to have the car overall for 10 years.
Re: The Real Cost of Owning a Car
#34Yes cars are extremely expensive. But for many the ability to live within driving distance of work is worth it. I know people who don't have cars. They really miss them. I can drive 250 miles to see my family on a whim. It takes 4-5 hours. Taking public transit requires 7-8 hours, and only gets me within 25 miles of my parents' house (which is pretty good compared to much of the US). And something like reliability is…
I prefer 7-8 hours on a train with a laptop or a book compared to 4-5 hours of driving. Driving is either boring (freeway) or annoying (cities), whereas I can usually either be productive or relax on public transport.
Re: The Real Cost of Owning a Car
#35Earlier quoted context omitted.
So which of those three does a car do?
None of the above. He's talking about planes, boats and women.
I know that, what I don't understand is the connection to the article, which is about cars. If you're very rich, joining a supercar club rather than buying a supercar probably makes great financial sense. If you're on an average income and want a 'normal' car, I doubt renting would work out cheaper than buying.
Re: The Real Cost of Owning a Car
#36Earlier quoted context omitted.
Anecdotally, for the first time in 6 years I don't have a car and I'm loving it. I'm living about 10 minutes walk from the CBD. To visit anyone I'd fly anyway, and the airport is only 15 minutes away by bus. Walking everywhere is much more satisfying, and not having to worry about breakdowns, oil changes, registration - not to mention the cost - is very nice. On the occasion that I decide to take a road trip, I can r…
You're truly blessed to be living in such an ideal location. I'd kill to be able to be 10 minutes away from both the CBD and the airport.
I'm close to a national park as well! Wellington is crammed in really tight. Unfortunately the price is higher rent.
Re: The Real Cost of Owning a Car
#37> How much would I have after three years? Assuming a modest 10% return per year Is 10% really a modest return?
No, it's not. If you're steadily earning a 10% return on your investment, year over year, you are doing amazingly well and should stop doing whatever day job you have now.
Not in South Africa. Look at the rates on South African government retail savings bonds: https://secure.rsaretailbonds.gov.za/ViewHistory.aspx .
Re: The Real Cost of Owning a Car
#38It's hard to put a value on the freedom to, at a moment's notice, get up and go wherever you please, without having to rely on anyone or anything. It's what continues to attract people to individual transport.
Re: The Real Cost of Owning a Car
#39Earlier quoted context omitted.
None of the above. He's talking about planes, boats and women.
I know that, what I don't understand is the connection to the article, which is about cars. If you're very rich, joining a supercar club rather than buying a supercar probably makes great financial sense. If you're on an average income and want a 'normal' car, I doubt renting would work out cheaper than buying.
The article is also about large hidden costs, which the above mentioned 3 contain.
Re: The Real Cost of Owning a Car
#40Earlier quoted context omitted.
I love it when somebody makes an intelligent distinction in an overarching argument. Thanks. Especially when it's something I can use to talk my husband out of his delusion of getting a BMW as our first car, when we'll drive it 10 hours a month. In Europe, where BMWs are twice as expensive... and four times as common.
BMW's are twice as expensive in Europe? You lost me there. I currently on vacation in Europe, and you won't believe some of the deals (on both brand new and used) BMW's I've seen.
Where are you?
In Austria, a Toyota Yaris (different name) costs 15,000 - 16,000 euros. That's around $19,000+ even with the weak euro right now. A BMW X3 SUV starts at 41,500 euros. That is $52,000 now but, before the colossal euro drop, it would have been more like $62,000.
Last I checked, a Yaris costs $12k in the US and an X3 starts around $37,000.
So you're right, it's not double, but it's close enough for me. Especially as soon as the Euro gains its strength again, or the US dollar drops down.
That amount of money for a car is ludicrous to me. When I spent 10 hours a week in the car, I had a Toyota Matrix and it was perfect. When I plan to spend 10 hours a month in a car, it's beyond ludicrous. :)
EDIT: If you're looking at export deals, you might be looking at prices without the 20%+ VAT and additional luxury taxes.