Quote:
Originally Posted by Unregistered
Sure why not. It's just a small amount out of my wealth. Anyway, still a long way to go to change car. My current car is only 2 years old. I usually budget $200k for a car even though I can afford more expensive ones. I always remind myself that cars are depreciating assets and I shouldn't buy costly models. After ten years, it will just be a piece of junk metal.
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I looked at what you mentioned in post 6184 and also the above and I find a funny contradiction. You retired quite early and have a passive income of 150k pa from investments. What this implies is that you are not only a hard worker but also probably a smart one..
Here comes the contradiction.
You implied that you are willing to spend up to 200k- 30k (let's say this is the residual value of the car after 10 years). This implies an annual value of 17k. This implies a monthly value of 1.42k. This implies a daily value of $47.
Have you, in your wiser investing hat, thought about getting chaffeur taxi to enhance your lifestyle? With a $47 budget DAILY I think you probably can go anywhere "chauffeured" in a cab. To get it just download a booking app from iTunes store or Google play!
There in lies the fallcy of car ownership. We have not even talked about cost of petrol road tax and etc. how about the stress of looking for car park, having to pay attention on the road while talking to wife, watching out foreed traps and etc? True luxury and convenience lies in moving around in cabs OR full time chauffered car..