Why focus and spend so much on cars?
02-04-2008, 11:20 AM
#1
Thread Starter
Why focus and spend so much on cars?
I've been thinking about this more lately. America is in debt, both the country and the individuals who reside in it. Bush just introduced a 3 TRILLION dollar budget that will be funded by continuing to borrow money that our country doesn't have to spend. It is fueled by our country and people leaving beyond their means. People see other people driving nice cars, living in nice houses, wearing nice clothes, etc. So, they figure that they should also be able to have those things and take on debt to try to live that 'lifestyle.' The problem is that there is a good chance those 'other' people are drowning in debt.
Those in this forum have a fixation with cars. That is fact. I am one of them. I'm sure many also have fixations with other nice material items. So, where do you draw the line? Where do you say enough is enough and focus on more important things in life like charitable endeavors, saving for retirement, eliminating any debt, and live a less materialistic and consumer-centric lifestyle?
I really worry about what advertising and peer pressure has done to people. I like having a cool car as much as the next person, but I fear that people buy stuff (including cars) they cannot afford to appear to be more affluent that they are actually are. Why?
So, I doubt I'll get much response by those who I am reaching out to, but how many here drive a nice car and are contributing little to nothing to their 401k or other retirement investments? How many are not saving anything, but living a lifestyle that looks more affluent that it actually is? Where are you going to draw the line?
Those in this forum have a fixation with cars. That is fact. I am one of them. I'm sure many also have fixations with other nice material items. So, where do you draw the line? Where do you say enough is enough and focus on more important things in life like charitable endeavors, saving for retirement, eliminating any debt, and live a less materialistic and consumer-centric lifestyle?
I really worry about what advertising and peer pressure has done to people. I like having a cool car as much as the next person, but I fear that people buy stuff (including cars) they cannot afford to appear to be more affluent that they are actually are. Why?
So, I doubt I'll get much response by those who I am reaching out to, but how many here drive a nice car and are contributing little to nothing to their 401k or other retirement investments? How many are not saving anything, but living a lifestyle that looks more affluent that it actually is? Where are you going to draw the line?
02-04-2008, 11:27 AM
#2
Site Moderator
Why? It's too easy to do. Until banks and financial institutions stop looking at their bottom line profit, they will continue to offer credit to people that really shouldn't have it. The financial situation in the States has had a global financial impact because the money is not just funded from here anymore. Homes included, not just cars and other niceties or luxuries.
I suppose I could stop buying new cars, but what's the fun in waiting until you retire and can't operate a clutch anymore, or clutches even existing then?
Oh, and to answer your question, I put away 20% gross annual into my 401k/pension, etc.
I suppose I could stop buying new cars, but what's the fun in waiting until you retire and can't operate a clutch anymore, or clutches even existing then?
Oh, and to answer your question, I put away 20% gross annual into my 401k/pension, etc.
02-04-2008, 11:31 AM
#3
Registered User
My car is an extension of my personality. I consider myself to be intelligent, hard working, and creative. The S2000 is a pure drivers car, and the modifications that I have done to it reflect similar personality traits...the AEM EMS is the ultimate upgrade for people who like to constantly tinker and tweak and optimize...the ITB's are the ultimate symbol of a hard worker...they're not easy to install or tune, and they don't make as much power for nearly the same cost as the easy (read, FI) route, but the results of your labor are a beautifully tuned and optimized addition to the S2000's already wonderful N/A characteristics. The Mooncraft HT is stylish and different...most don't like it, some do. I love it. I've always loved fastbacks, and I've always loved the look of the Dodge Viper...to me this top takes what I love about those other cars and creatively blends them with my favorite car...The subzero rotors are upgraded pieces of OEM hardware, a reflection of the stability and caution that are also largely apparent in my personality.
I think that it's just a part of car culture...for some people who are in tune with their automotive side, it pulls from the same drive that motivates us though life...we alter our surroundings to create an environment that is more suitable to our liking.
I think that it's just a part of car culture...for some people who are in tune with their automotive side, it pulls from the same drive that motivates us though life...we alter our surroundings to create an environment that is more suitable to our liking.
02-04-2008, 11:51 AM
#4
Registered User
it is a good point or whatever other hobby we have. Why do I buy books when a library is free?
Why do many people spend tens of thousands on vacations and beach houses they use a few weeks a year?
People enjoy nice things and want to treat themselves or reward for all the hard work we do.
I do not abvocate living above my or your means. I could afford a note on a Ferrari but that would take money away from savings. I like savings more than having a flah car. Some (many) people would rather spend and show-off how 'rich' they are when if you look at their accounts you will find they owe more than they own.
I think spending is good for the economy. But too much spending is bad. If we turned into a country that saved all out extra money the economy and a lot of people would be worse off.
Think no more Harly Davidsons, no more RV's or ATVs or snowmobiles or trips to Europe or fancy clothse or who needs more than one watch? Or who needs trips to Vegas etc..
Think what would happen if the whole country started to save a lot. A little is good but too much would be bad.
Why do many people spend tens of thousands on vacations and beach houses they use a few weeks a year?
People enjoy nice things and want to treat themselves or reward for all the hard work we do.
I do not abvocate living above my or your means. I could afford a note on a Ferrari but that would take money away from savings. I like savings more than having a flah car. Some (many) people would rather spend and show-off how 'rich' they are when if you look at their accounts you will find they owe more than they own.
I think spending is good for the economy. But too much spending is bad. If we turned into a country that saved all out extra money the economy and a lot of people would be worse off.
Think no more Harly Davidsons, no more RV's or ATVs or snowmobiles or trips to Europe or fancy clothse or who needs more than one watch? Or who needs trips to Vegas etc..
Think what would happen if the whole country started to save a lot. A little is good but too much would be bad.
02-04-2008, 11:54 AM
#5
It's easy to get in the hole and hard to get out. All it takes are a few things to not go your way and next thing you know there's no way to bail out. Maturity and self-restraint are hard to come by and it's not easy to convince someone to consider it from the start.
I'm not trying to say that people should not try to curb their desires but please consider the following. All those great stories about people working their asses off to be where they are now are partially based on luck. What if there was an unexpected medical condition that arose, a family emergency that required everyone to chip in, or a car theft with no insurance to cover it? Those things could definitely set someone back pretty far or worse yet push them beyond their means.
At the moment I'm pretty square, nothing significantly built up but no real debt. I'm going to do my best to put more away than I have in the past and try not to splurge as often. I have most the toys I've ever wanted and now it's time for me to grow up. For the record, I'm 25 and I realize how lucky I've been up to this point. I believe in living life to the fullest when you can still enjoy it but I need to cash out while I'm still ahead before I'm in too deep. Damn I want to win the lotto.
I'm not trying to say that people should not try to curb their desires but please consider the following. All those great stories about people working their asses off to be where they are now are partially based on luck. What if there was an unexpected medical condition that arose, a family emergency that required everyone to chip in, or a car theft with no insurance to cover it? Those things could definitely set someone back pretty far or worse yet push them beyond their means.
At the moment I'm pretty square, nothing significantly built up but no real debt. I'm going to do my best to put more away than I have in the past and try not to splurge as often. I have most the toys I've ever wanted and now it's time for me to grow up. For the record, I'm 25 and I realize how lucky I've been up to this point. I believe in living life to the fullest when you can still enjoy it but I need to cash out while I'm still ahead before I'm in too deep. Damn I want to win the lotto.
02-04-2008, 11:55 AM
#6
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Short answer? Because all work and no play makes Chris a dull boy.
Long answer: I don't REALLY overextend myself for my car. Most people my age and income are either A) paying down big $$ in student loans, or B) driving a newish Civic, Accord, Mustang, or whatever other young-person's car. The people I work with drive: Mazda 3, Honda Civic, Explorer, Accord Coupe, Altima, etc. These cars all cost, give or take, the same as my used S2000. Granted, now I am saving for a dedicated DD (which will be another ~$5k, in cash), so three cars for 2 people is a bit extravagent, but it goes back to my old argument about what you spend your money on. My golf clubs are collecting dust in my storage unit. I stopped going to the bar in favor of stocking a nice one in my condo. I probably spend $200 twice a year on clothes at the outlets. I structure my lifestyle around owing a little bit of a nicer car, because it is important to me.
And honestly, aside from clearing up debt, I don't really give a rat's ass about "not living a consumer-centric lifestyle." I'm going to pay for my toys with cash from now on (having learned a couple expensive credit card lessons,) but aside from that, when I want something I'm going to work hard and buy it. I do save (full advantage of my employer's 401(k) matching, some $$ into an employee stock plan, and a big, fat money market account that we are dumping $$ into for our house purchase,) but if that obligation is taken care of, there's no reason for me not to but stuff I want. I just make sure the reason I want it is because I want it, not because some ad or a friend tells me I do.
Long answer: I don't REALLY overextend myself for my car. Most people my age and income are either A) paying down big $$ in student loans, or B) driving a newish Civic, Accord, Mustang, or whatever other young-person's car. The people I work with drive: Mazda 3, Honda Civic, Explorer, Accord Coupe, Altima, etc. These cars all cost, give or take, the same as my used S2000. Granted, now I am saving for a dedicated DD (which will be another ~$5k, in cash), so three cars for 2 people is a bit extravagent, but it goes back to my old argument about what you spend your money on. My golf clubs are collecting dust in my storage unit. I stopped going to the bar in favor of stocking a nice one in my condo. I probably spend $200 twice a year on clothes at the outlets. I structure my lifestyle around owing a little bit of a nicer car, because it is important to me.
And honestly, aside from clearing up debt, I don't really give a rat's ass about "not living a consumer-centric lifestyle." I'm going to pay for my toys with cash from now on (having learned a couple expensive credit card lessons,) but aside from that, when I want something I'm going to work hard and buy it. I do save (full advantage of my employer's 401(k) matching, some $$ into an employee stock plan, and a big, fat money market account that we are dumping $$ into for our house purchase,) but if that obligation is taken care of, there's no reason for me not to but stuff I want. I just make sure the reason I want it is because I want it, not because some ad or a friend tells me I do.
02-04-2008, 11:59 AM
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Originally Posted by 2wheelsmoker,Feb 4 2008, 03:54 PM
For the record, I'm 25 and I realize how lucky I've been up to this point. I believe in living life to the fullest when you can still enjoy it but I need to cash out while I'm still ahead before I'm in too deep.
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02-04-2008, 12:18 PM
#8
I just think along the lines of the recession and the inflation of the USD and what that's doing to my "savings". The fed and the US government is so interested in devaluing the dollar, I suppose I'm better off spending it now while it's worth something.
To be honest I of course take full advantage of 401k matching by my company and do save. I have no problems with using credit to buy cars as long as I can take advantage of all the cheap money available (assuming it's still available the next time I buy a car). Of course, this coming from a guy that has paid cash for the last few vehicles purchased (and they are always used, and I keep cars at least 4yrs).
To be honest I of course take full advantage of 401k matching by my company and do save. I have no problems with using credit to buy cars as long as I can take advantage of all the cheap money available (assuming it's still available the next time I buy a car). Of course, this coming from a guy that has paid cash for the last few vehicles purchased (and they are always used, and I keep cars at least 4yrs).
02-04-2008, 12:18 PM
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You only live once. You know that saying life is what happens when you're preparing for the future? If you have the means right now then you might as well enjoy yourself. That said, don't be like that one kid on the board who makes $250 a month and wanted to stretch his budget to buy an s2k.
02-04-2008, 12:24 PM
#10
Registered User
Fair enough question. I don't figure I'm under-contributing to my retirement but if I had no need to feed my hobbies, including vehicular, I could retire early.
But I'm driven. That's all there is to it. It sort of falls into the "why I work" category. To pay for my toys. I do have a limit but my threshold is not the same as, say, my wife's.
For example I could probably stretch into a GT3 but then I'd have less money to waste elsewhere. I wouldn't be restoring an XKE. I wouldn't have two motorcycles in the garage. I suppose I draw the line where it would impact my general quality of life, while steadily progressing to my theoretical retirement. But if you could tell me the hour of my death, I'd be aiming at dying without a penny to spare!
But I'm driven. That's all there is to it. It sort of falls into the "why I work" category. To pay for my toys. I do have a limit but my threshold is not the same as, say, my wife's.
For example I could probably stretch into a GT3 but then I'd have less money to waste elsewhere. I wouldn't be restoring an XKE. I wouldn't have two motorcycles in the garage. I suppose I draw the line where it would impact my general quality of life, while steadily progressing to my theoretical retirement. But if you could tell me the hour of my death, I'd be aiming at dying without a penny to spare!