Regretful Purchase

[srblanco7]

WSJ article regarding big ticket purchases that people came to regret. Examples include expensive wrist watches, mountain cabin, and RV.

What's your big ticket purchase that you regret?

For me, it's an above ground pool. Would have preferred to save a big longer and get an in-ground pool, but DW was "insistent" and I gave in.

[disneysteve]

I can't think of anything big. We're not the type to impulsively spend a lot on something without really thinking it through. Plenty of smaller ones though, like specialized kitchen appliances that we used a few times and then put away never to be used again. I'm sure a lot of people have a bread maker stashed away in the basement.

[kork13]

I try to be very careful with decision making for big purchases, so I've not really had much in the way of major regrets about large purchases. The only thing I could say along those lines would be that sometimes I've paid a little more for big purchases than perhaps I needed to (think house, car, etc.) ... but that's how it goes, and I'm not much in the way of a negotiator.

I think my most 'regretful' purchases have been in the range of $100-$500. Electronics or equipment that broke/failed way too soon, or smallish items that were simply unnecessary & wasteful. But for better or worse, we have the flexibility in our budget to be able to absorb such mistakes without too much trouble. So I generally don't let such regrets worry me too much. The important stuff remains well in hand, so the rest is trifling.

[ua_guy]

I can't think of any purchase that ended in true regret, including our RV. That's been a central part of our lifestyle for the last 5+ years and the key to success is committing and using it as much as possible.

It's the fear of regret that actually keeps us from buying a second place right now. I'm not sure we're ready to give up the RV, and I'm still worried about the housing market where we intend to buy - we could buy and lose our shorts.

[disneysteve]

It's the fear of regret that actually keeps us from buying a second place right now.

Same here. We would love to get a place in Florida but I just know realistically we won't use it nearly enough to make it worth it. My wife thinks if we have it, we'll be more inclined to use it, but I'm not betting $200,000 on that. Between taking care of my mom and dealing with our daughter, I simply don't see how we could go down there for more than a few days at a time. If I knew we could head down for several weeks at a time, sure, but not now.

[Fishindude77]

I've whizzed away lots of money on boats but always enjoyed them.
Have had two campers that we unloaded at a healthy loss.
Had the above ground pool for many years while the kids where at home and it got lots of use. When they grew up and moved out I'm glad it was above ground, because I just removed it and re-landscaped.
I've had three second homes, still have two of them and no regrets. Made decent money on the one we sold and I'm sure these current properties will be similar.
Twice I've put down earnest $$ for real estate and walked away from the deal losing the deposit. In both cases better deals came along so things worked out for the best.

[QuarterMillionMan]

“I spent half my money on gambling, alcohol and wild women. The other half I wasted.” - WC Fields.

[bjl584]

Probably buying a new car back in my younger and dumber days. I should have bought something cheaper with cash.
Funny thing is, I didn't regret it until years after I didn't own it anymore. Once I started getting into finances I realized that it was a dumb move.

[srblanco7]

Probably buying a new car back in my younger and dumber days. I should have bought something cheaper with cash.
Funny thing is, I didn't regret it until years after I didn't own it anymore. Once I started getting into finances I realized that it was a dumb move.

That's a good one. I made a couple new car purchases before I realized how much i hated car payments and transitioned to purchasing "new to us" vehicles with cash.

[kork13]

That's a good one. I made a couple new car purchases before I realized how much i hated car payments and transitioned to purchasing "new to us" vehicles with cash.

Actually, I'll change my answer a bit as well. The first car I bought (in college) was a brand new Civic (nothing extravagant). The car was great, kept it for a handful of years before getting a good resale value (moved overseas) -- overall, the car was well worth it. But the mistake I made & deeply regretted was using the lender that the dealer was now than happy to him me up with, >15% loan and all. Yes, I was only ~20y/o with a limited credit history ... But I had half in cash & could readily have gotten an independent loan for half that rate. That's the last car that I've bought with a car loan.

Though I suppose perhaps I should be grateful ... That bad car loan left such a bitter taste that it kicked off what I now lovingly call my debt allergy.

[LivingAlmostLarge]

Timeshare in florida for $5k. Thankfully we said no to the expensive timeshare RCI but the resale market it was like $4500 and we never used it. So between that and the annual fee. Even "banking" the weeks. Oh man kill me. I can't figure out how much we spent on it.

Regret right there! That we had a 0% financing from them was the only saving grace. But it did teach me a lesson about impulse buys.

[srblanco7]

Timeshare in florida for $5k. Thankfully we said no to the expensive timeshare RCI but the resale market it was like $4500 and we never used it. So between that and the annual fee. Even "banking" the weeks. Oh man kill me. I can't figure out how much we spent on it.

Regret right there! That we had a 0% financing from them was the only saving grace. But it did teach me a lesson about impulse buys.

So am I reading your post correctly - were you able to resell the timeshare and get out? If so, that's a pretty fortunate outcome. There are plenty of stories of people who've purchased and can't give their timeshares away and are stuck for years paying annual maintenance fees.

[ua_guy]

I've spent a lot on cars but the difference is, there hasn't been a lot of regret. Just opportunity cost. Cars are a passion/hobby. Why can't I get excited about collecting or keeping inexpensive things around?

[LivingAlmostLarge]

Oh no we bought it for like $4500 nd had to give it away!!! Yeah we were those dummies.

[srblanco7]

Oh no we bought it for like $4500 nd had to give it away!!! Yeah we were those dummies.

Thanks for the clarification. At least you were able to get out!