Quote:
Originally Posted by Unregistered
Good move. Don't buy an expensive car. It is a depreciating asset. Buy a cheap, good car and save your money for your retirement. Invest your money in dividend stocks. If I have $200k cash, I will not buy a $200k car. I will buy a $100k car, paid in cash and invest $100k in dividend stocks which give me 5% yield. Every year, I get $5k dividend and over 10 years, I get $50k dividend which I can use to buy my next car. If I buy a $200k car, my $200k will be burnt after 10 years.
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Are you all so hard up for so call convenient? If you are filthy rich and when money is no more money in real term, then go ahead. If you are just a wage earner, and you still have to calculate how much is the opportunity cost, then forget about it. Convenience always come with a price. Just imagine through out your life span, how many cars you have to change, how much you have to spend on petrol and maintenance. Sum up the total expenditure spent on cars, that could make you live comfortably after retirement.