huge difference having this conversation with a man in his late 40's to early 60's where you're established, you're generally flush with cash or least as much cash as you've ever been in your life
and a guy in his 20's trying to juggle a rent or a house payment, keep diapers on kids and food on the table just starting out at the low end of his earning career.
When I was 33 or so I bought a Honda Odyssey mini van. I remember at the end of the day it was $27K and some change, a $500 a month car payment for 48 months with whatever little I could put down as a payment. I held on to that car for 12 years and 225K trouble free miles.
The funny part is 20 years later I still won't buy a car worth more than $27K, I guess I have some mental hangup that no car should be cost more than that. But now I have the liquidity that it doesn't impact my life at all if I own one.....or two.
that said, I have 4 vehicles and if you totaled what I paid for them, Its still less than $20K
But I encourage everyone who can do it to go buy those expensive new cars and leases. I need to keep being able to buy low mileage nice vehicles in a price range I can afford. I'll be there in 10 years to make you a deal on it.
Last edited by KFWA; 02/28/21.
