Paying cash for "luxury" cars...

[ScrimpAndSave]

Alright this cracks me up. I have a 1999 BMW 528 that I paid cash for. About $8,000 to be exact. It has about 130,000 miles on it and was impeccably kept before I bought it. I love everything about it...the looks of it...the way it drives...and most of all - the fact that it is paid for.

I got this car over the summer and am now starting the school year (I am a teacher). I cannot tell you how many people stop by my classroom and say, "Hey...did you just get the BMW?! Oh my GOD!" Or, "Wow...you must really be moving up...that is a really nice car!"

It was $8,000. These teachers drive around in BRAND NEW Toyotas, Hondas, Jeeps and Mazdas...and they lust after my used car? (P.S. those are all great cars too). They are easily spending 3 to 4 times the amount that I paid for my car.

So when people comment on my beautiful, luxury, high end car...I have to bite my tongue instead of saying, "Yeah! The best part is that it is paid for!"

Haha...my dad gets a kick out of this, too.

[kork13]

Totally agreed. A few friends own absolutely jaw-dropping cars. They're the kind of car that you would walk up to some stranger on the street and ask to look at, or ride in, their car. But again, used, plenty of miles, and entirely paid for. It's funny that certain cars, or makes of car, if properly cared for, will always impress..... and more importantly, will always be enjoyed.

[simpleyme]

my friend was a secretary at a MLS (real estate) office and bought an old jaguar , the comments she got on that car from the agents were nasty " well they must be paying you too much"

her car cost less than my Nissan sentra plain jane economy car ,some people are soooo sillly

[LivingAlmostLarge]

They can't tell the difference between a 1999 and a 2009?

[red92s]

I used to have a 1992 Honda Prelude with 120k on it, but bright red and in excellent condition. . . about a 14-15 year old car at the time, although it had been repainted a few years prior after an accident.

I worked in manufacturing facilities and would get comments all the time about my "fancy car", mostly from the union workers who were all driving $30k-$40k 2500 series pickups.

[ScrimpAndSave]

LivingAlmostLarge...it is obvious that the car is not "new"...but I think it has such a classic look that no one knows the true age.

Plus it is in excellent condition...the paint...the interior..everything.

[disneysteve]

Most people really haven't got a clue. They just assume a BMW is a luxury car and they couldn't possibly afford one, even though they are driving a car that cost 3 times more than you spent on the BMW. And, of course, many people won't consider buying a used anything no matter how nice it is or how many thousands of dollars it would save them. It is new or nothing. Well, it is fine with me to be the one who takes advantage of everyone else's lack of knowledge.

Good for you. Enjoy the car, and the envy.

[MonkeyMama]

LOL.

I mentioned I paid cash on our van. (Someone at work said how she didn't want to owe so drove an OLD free car. I said something like mine was paid. I couldn't have anyone think I owed - hehe. But I didn't think much of it either - I've never owed much on a car). Her jaw dropped to the floor - it was hilarious.

I thought about it later and thought, and I realized she thinks I dropped $20k+ cash on that sucker. We paid like half that simply because it was a year old and had 30k miles.

My mom has a luxury car that is about 11-years-old and too many miles to count. IT went new $50k and they bought it slightly used for $20k cash. It cracks me up when people think my parents actually paid $50k for that car. Pffffft. I remember I was early on dating my spouse at the time and he said something about my parents buying expensive cars. I had to laugh since my parents buy one used car (each) every 20 years or so - not a big part of the budget. Plus this was their one car splurge in their 55 years. I don't think they have paid more than a $10k otherwise, but they have always had nice cars.

perceptions are funny.

Good for you, indeed.

[MonkeyMama]

I also had to say, when I graduated college and my 20-year-old Toyota finally bit the dust, I bought an immaculate, almost new Mustang convertible. The thing was it was only $5k because it was about 8-years-old at the time. But it had been driven so little it still had that new car smell.

That particular year wasn't very timeless looking - its age showed a bit. BUT I realize if you can pick up a nice old used car like that you can pay pennies - and if you find one that has a more modern look people will think it is newer. It's a good trick if you are really concerned what others think, but want to save money on a car. That particular car might as well been brand new except it had some miles on the odometer (like 15k) and it was an older model... It was just so immaculate inside and out.

[ScrimpAndSave]

Disneysteve - cluelessness is EXACTLY what it was.


Borderline stupidity (sorry if that is harsh!).

[LivingAlmostLarge]

Like what cars don't show their age? I'm curious. Granted I feel like sometimes we should upgrade our cars to a used newer car, but then I think why bother? I like my car and yeah it's becoming POS but maybe that's why I like it.

[kork13]

honestly, alot of that is kinda subjective (though not entirely).... biggest factors i'd put into it are body style, paint quality, and quality of care. if it looks new, or looks like it could be new, then it "won't show its age". Esp. if the body style uses, for example, curves from 10 years ago that happen to still be used/appreciated today, that's the kind of thing that helps alot.

[disneysteve]

Originally Posted by LivingAlmostLarge

Like what cars don't show their age?

I'll be the first to admit that I don't take care of my car cosmetically. I get all of the mechanical stuff done regularly but I don't pay much attention to appearances, so my car definitely looks it's age.

Many people, though, take top notch care of the appearance of their cars. They wash and wax them regularly, clean and detail the interiors, keep them in garages, etc. After 5 or 8 or 10 years, the cars look beautiful. Buying one of those certainly would be money well spent.

[cipixul]

Ofcourse it's a bit risky to get a used car because you don't know the defects it may have but then again used cars can be a very good bargain

[ScrimpAndSave]

I have never viewed owning a used car as "risky".


I have viewed owning a new car as "ignorant".

[gamecock43]

I just bought an SUV brand new last October. Several reasons why, mostly being that
a used jeep wrangler is only about a few thousand less than a brand new Jeep. They really hold their value.
Jeep was offering a lifetime powertrain warrenty on the sales of their new cars.
Jeep owners can be hard on their cars...so buying used is Risky

Then there were several economic reasons I chose a jeep in the first place...
BTW- Jeeps DONT show their age because the body style has never changed.

[m3racer]

Originally Posted by cipixul

Ofcourse it's a bit risky to get a used car because you don't know the defects it may have but then again used cars can be a very good bargain

That's why you shouldn't buy used without a PPI.

[disneysteve]

Originally Posted by cipixul

Ofcourse it's a bit risky to get a used car because you don't know the defects it may have

You don't know what defects a new car may have either.

Our last new car was a 96 Dodge Grand Caravan. We had it for 4 years before it was consumed in a fire caused by a manufacturing defect with the grounding of the gas tank filling pipe. During those 4 years, it was recalled 4 or 5 times for various problems. One of those problems was a defect in the built-in car seat that could cause the belts to lock and trap the child. Prior to the recall, our daughter got caught in that seat and my wife had to use her pocket knife to cut through the belt to get her out.

When you buy a car that is a few years old, many of those manufacturing flaws have already come to light. There is a service record for the model that you can review and know if it has been having an unusual rate of problems. Can't do that with a new car.