Neighbor talked me out of BTD

[ncbill]

My story relating to overcoming lust for expensive cars.

In 1990, I drove an 11 yo Corolla and wore suits until they were paper thin. Oh, I also put away about 1/3 of my paycheck for retirement and had a nice house. There was a guy at work who made 3 times what I made, never wore the same suit twice, monogrammed shirts, first one to get a Lexus, pop down to the islands for a 4 day get away and a clothes horse trophy wife (his second trophy wife). He was putting away $50 a month. He also had a house that was valued at half mine.

One night while walking back to my car from a restaurant, I passed a Mercedes dealer. Went in and sat in a $100k two seater. Man it was great. I did the math and I could afford it. How everyone would think highly of me. How the office ladies would give me that second look as I passed. How the boss would respect me. Nah, kept my rusty Corolla. Eventually, I bought a $16k Accord that I kept for 14 years. My trophy wife shopped for clothes at discount stores.

Recently, I looked up the good-looking well dressed successful guy. He is still working. Must be about 70. I point this story out to my kids.

I got my ~25-year-old MB sports coupe from an older relative who originally paid $125k but found it uncomfortable to get in and out of (feels like you sit on the ground) not too many years later.

Gave it to my kid to drive during college...he hit a deer literally the day after graduation...

But in my state comprehensive insurance (w/ only a $100 deductible) is dirt cheap which got the (mostly cosmetic) damage repaired and the front end repainted so now it looks good as new.

I'm surprised how little it has cost me over the last ~15 years.

 

[HawkeyeNFO]

I bought a 2-seat Italian roadster in 2020, and Mrs. HawkeyeNFO has several times mentioned that I should have gotten a convertible with a back seat, so we could take the kids places.

 

[Steeler75]

Tires will ware out after 7,000 miles (unless I buy a set less aggressive and "sticky") then you have the rear diff fluid and higher registration costs/tags.

My first car was a Camaro with a 350 v8 and a Muncie 4 speed. At 16, my new set of tires lasted 6 months….

43 years later, I still have my Camaro, but tires last much longer now!

 

[freedomatlast]

I've had three over the years and enjoyed each one. I had one of them from 1992 through 2017. I bought it when it was three years old and it was my daily driver for over 20 years (except when it snowed) and I enjoyed every mile. I bought it with the intention of flipping it but liked it so much, it became my daily driver. Ending up selling it for substantially more than I paid with minimal maintenance costs since I maintained it myself.

You said you can easily afford it and you don't want to be sitting in the old folks home someday thinking "shoulda, coulda, woulda".

 

[street]

I see some old Vettes for sale at times and prices seem very reasonable to me. Z06 convertible under 65K new. A Vette would be my choice over the other choices if I was a car enthusiast.

 

[jdiaz]

I think the Camaro ZL1 convertible is going to hold its value better than most (even used 2015's are going for 50k), and you'll be able to get it serviced or repaired by just about any garage in the country, unlike our old Porsche. Chevy is discontinuing the Camaro after 2024, and I doubt they will bring it back.

 

[dmpi]

My story relating to overcoming lust for expensive cars.

One night while walking back to my car from a restaurant, I passed a Mercedes dealer. Went in and sat in a $100k two seater. Man it was great. I did the math and I could afford it. How everyone would think highly of me. How the office ladies would give me that second look as I passed. How the boss would respect me. Nah, kept my rusty Corolla. Eventually, I bought a $16k Accord that I kept for 14 years. My trophy wife shopped for clothes at discount stores.

Early 90s Mercedes SL 500 was one of the best looking car ever. My wife and I lusted for one. We had two good incomes and no kids (DINKS)...maybe we could have got it but seriously...it was almost 100K, that's like 200K in today's dollars. We saved our money and paid off house instead. I miss those days. I actually felt rich back then.

 

[BasketCase24]

What about renting one?

Have you looked into Turo, where you can rent a car from a person for a specific period of time? You might be able to splurge on a once-a-quarter weekend driving a really fun car in a fun location, and not have to pay for the fun car sitting lonely in your garage.

 

[Al18]

I see from your profile you live in MN. Do you see a lot of convertibles in your area? I would go for a hardtop. Make sure it fits in your garage. Buy whatever you want, and have some fun.

 

[tenant13]

I hate driving, am the worst driver in the world and I ruined every single car I drove - including EVERY rental (I know, crazy and thank you Chase for the rental insurance). My 2021 road trip idea was an endless chain of accidents that ended with completely ruined brand new Subaru (awful vehicle imo btw), lots of anguish and a conviction that universe plots against me every time I get behind the wheel.

To find out that someone would be willing to spend 60k on a car is inconceivable to me. It’d be worth 10k two weeks after I got my hands on it.

 

[cnocmmz]

If you can afford it, you can afford it. If you have to give something up like early retirement or future vacations, you probably can’t afford it.

Exactly my sentiments!!!!

 

[cnocmmz]

Yeah it's more the allure of having more in retirement and sacrificing today. 60k today is likely going to be 120k+ in 2031 (good eye on knowing my ER year) vs the car just being an expense.

I've never spent 60k on a new vehicle before, so its partially the price point. Maybe used would be a better choice for this "want". It wouldn't move the needle a ton in terms of future retirement expenses...nor would it set me back today in terms of cash flow...but just knowing I could double or triple that money in the next 10 years and be able to spend more later was alluring.

Nobody in my family seems interested in the car. So selfishly (which is totally ok) it would just be something that benefits my own desire for a fun car. Then I got to thinking...I could easily take 10 trips to Disney world with 60k... and the family really enjoys these trips we go on... so maybe that is where I spend it instead. DW said she wouldn't even bother to learn how to drive a manual, and isn't keen on the purchase...even though she knows we can afford it.

I ran FIRECalc and it says we have 100% success rate so long as we continue to earn and save what we did last year for the next 8 years.

55k plus sales tax, registration and of course the added maintenance costs of a third vehicle (insurance, oil changes, new tires since those things are like 305 F1 racing tires that only hold tread to about 5,000 miles).

I might keep thinking about it. Just a little longer. So maybe I'm not 100% talked out of it. It seems though if I am not 100% "all-in" than maybe it might be something I regret. Who knows.

I rented the same car in Austin, TX a few months ago. it was a REALLY fun car. Visibility wasn't any worse than a Corvette, or any other sports car I've been in.

For 60k I could rent QUITE a few different sports cars, QUITE a few times and still walk out ahead. Certainly a car like this isn't an investment, and that is kind of messing with me, since we have been in total saver mode pushing as much dough as we can into the markets.

On a serious note, if you want the darn thing and you’re sure you can afford, but it. One thing we all have learned from COVID, we really do not know how much time we have left and so you should enjoy your life as well. I also have a neighbor here in San Antonio and he loves it.

 

[Souschef]

I think the YOLO bug bit us. We lived in a +55 MHP for 15 years where the space rent was about $800.
We now live in a brand new apartment complex where the rent is $4700/ mo.
I am 84 and DW is 79, and our NW is about $2M. Below is a comparison on the two places.

 

[JoeWras]

I hate driving, am the worst driver in the world and I ruined every single car I drove - including EVERY rental (I know, crazy and thank you Chase for the rental insurance). My 2021 road trip idea was an endless chain of accidents that ended with completely ruined brand new Subaru (awful vehicle imo btw), lots of anguish and a conviction that universe plots against me every time I get behind the wheel.

To find out that someone would be willing to spend 60k on a car is inconceivable to me. It’d be worth 10k two weeks after I got my hands on it.

You are one in a million.

The 999,999 others all claim they are the best drivers on earth.

Thanks for the honest perspective.

 

[aja8888]

I think the YOLO bug bit us. We lived in a +55 MHP for 15 years where the space rent was about $800.
We now live in a brand new apartment complex where the rent is $4700/ mo.
I am 84 and DW is 79, and our NW is about $2M. Below is a comparison on the two places.

Having lived near you in Thousand Oaks in the 80's, I can't imagine ever paying $4700/month for rent. I assume you are still "over the hill" near Camarillo, and it's nice there, but that rent cost! Must e the view that justifies the cost.

 

[Time2]

I think I posted this before but I'm still lusting for a Lathe for my little shop.
We are 4 years retired and $3k or $4k spent on a lathe would not change a thing in our finances. In two years I'll apply for our SS and we will get about $60k, maybe I'll spring for it then. Or should we update our vehicles
They are 25, 16, and 13 years old.

 

[Ballhawker]

Another fun car choice for a lot less

I own a 2015 VW GTI. A practical car that is also very quick and super fun to drive. It was the Motor Trend car of the year in 2015 I believe. Mine has the DSG but it also has a great manual gearbox from what I've heard.

Good luck in your search.

 

[RetireEarly50s]

Go for it, muscle cars are fun, I have a 2015 Challenger Scat Pack Shaker with the 392 V8 that I got back in 2016, still makes me smile when I fire it up and drive it. Just got a 2023 Wrangler Unlimited 4xe for the wife that is also fun but is the same price you are thinking about, 60k.

 

[Out of Steam]

I hate driving, am the worst driver in the world and I ruined every single car I drove - including EVERY rental (I know, crazy and thank you Chase for the rental insurance). My 2021 road trip idea was an endless chain of accidents that ended with completely ruined brand new Subaru (awful vehicle imo btw), lots of anguish and a conviction that universe plots against me every time I get behind the wheel.

You are one in a million.

The 999,999 others all claim they are the best drivers on earth.

Until having minor accidents in both 2020 and 2021, I thought I was among the 999,999. I won't say I'm the world's worst driver, but am going to prepare for the possibility of having to stop driving while I'm still physically active.

 

[Car-Guy]

Go for it, muscle cars are fun, I have a 2015 Challenger Scat Pack Shaker with the 392 V8 that I got back in 2016, still makes me smile when I fire it up and drive it.

Yes, muscle cars are a lot of fun. I bought a new 2021 Challenger a little over a year ago and I agree, it gives me a smile every time I crank it up. I got the 6.2L (376 V8) engine and it's "over the top fast". I really like the "old school" look/styling with the modern technology and performance.

Only two complaints with the car after a year of driving it. (1) The back seats are useless for adult passengers. Far to cramped. (2) It's a little hard to get in and out of (for an older person ). Not nearly as bad as my Vettes were but still a bit difficult. But once inside it's very comfortable.

 

[JoeWras]

Until having minor accidents in both 2020 and 2021, I thought I was among the 999,999. I won't say I'm the world's worst driver, but am going to prepare for the possibility of having to stop driving while I'm still physically active.

I though I still believe I am the 999,999 for driving*, I knew I was past my prime in my job as a software engineer.

It was difficult to come to myself and realize I was not the hotshot SW eng I remember being in the 80s. I started to suck. I wasn't seeing things I could before. I introduced bugs. I hated the new tools and couldn't adapt. And so on. It took a lot for me to admit it was yet another good reason to hang up the keyboard and ER. I was amazed at how out of touch some of my contemporary age co-workers were. They all thought they walked on water and excreted bricks of gold. One out of 5 of them did, he was incredible. I saw the others struggle as I did -- they just didn't want to admit it.

My boss was the best. He admitted it, so that's why he became the boss, because he was better with people. His assessment was correct, he was a good boss. He asked me to consider management. But, I am not better with people so I ER'd.

* - OK, probably 999,000. No at fault accidents, no traffic tickets in 45 years driving. But this is changing. I can feel a day coming where I may be in the top 600,000, sooner than later.

 

[TheWizard]

I hate driving, am the worst driver in the world and I ruined every single car I drove - including EVERY rental (I know, crazy and thank you Chase for the rental insurance). My 2021 road trip idea was an endless chain of accidents that ended with completely ruined brand new Subaru (awful vehicle imo btw), lots of anguish and a conviction that universe plots against me every time I get behind the wheel.

To find out that someone would be willing to spend 60k on a car is inconceivable to me. It’d be worth 10k two weeks after I got my hands on it.

Aha!
So you're the one who comes to a complete stop at the end of expressway on ramps instead of merging smoothly into the traffic flow...

 

[Out of Steam]

* - OK, probably 999,000. No at fault accidents, no traffic tickets in 45 years driving. But this is changing. I can feel a day coming where I may be in the top 600,000, sooner than later.

I probably overreacted a bit after the second one, but the new caution seems to have done me good.

 

[Andre1969]

On the subject of the modern Mopar Hemis, does anyone know how the bigger ones (376, 392) compare to the base 5.7 (345, I think?) My 2012 Ram has the 5.7 and it's decent, but also a pretty heavy vehicle and not geared all that aggressively. I haven't driven a Charger or Challenger with the 5.7, except around in a low-speed test course at the Carlisle PA Chrysler show years ago, but I'm sure in a lighter car, it would be a major improvement. But, is something like a 392 really THAT much quicker?

I've always kinda wanted a Charger, ever since they brought it back in 2005 (early 2006 model), but over the years always found an excuse not to get one. Well now my daily driver, a 2003 Regal, is finally approaching Death's door, and I need to start looking. I don't want to depend on the truck for all of my driving needs. I'm one of those old fashioned types, I guess, where I view a truck for certain duties, a car for certain duties, and any vehicle that tries to combine the two ends up being a compromise in some way.

There's a part of me that wants something practical and economical, but then another side to me that's saying the hell with it, you only live once, go ahead and GET the damn Charger already! Funny thing is, even the 392 has better fuel economy ratings than my truck, so almost any Charger would be an improvement. Heck, even the Hellcat looks like it's rated 12/21, which isn't too far off from my truck (14/20)

 

[dmpi]

I though I still believe I am the 999,999 for driving*, I knew I was past my prime in my job as a software engineer.

It was difficult to come to myself and realize I was not the hotshot SW eng I remember being in the 80s. I started to suck. I wasn't seeing things I could before. I introduced bugs. I hated the new tools and couldn't adapt. And so on. It took a lot for me to admit it was yet another good reason to hang up the keyboard and ER. I was amazed at how out of touch some of my contemporary age co-workers were. They all thought they walked on water and excreted bricks of gold. One out of 5 of them did, he was incredible. I saw the others struggle as I did -- they just didn't want to admit it.

I know exactly what you're talking about. I too was a 'hot shot' SW engr. Looking back I could say my mental peak was in my 30s and it was a slow and steady decline until my 50s and then the decline was really fast. I was really happy to get out at 55. Now I tell everyone that the engineering career is too long. We should be like football players. Get paid a whole bunch and only go for 10-20 years. You're correct that a lot of older workers have this inflated view of themselves. They are crushed when the layoff notice shows up having never prepared for retirement. I always say: If they were so smart they should have saw it coming.