[MystroX5]

Originally Posted by Tr4ckD4ys

$45k up or down at this level means 300.000 up or down on the annual salary. I was in your camp of math for a long time thinking that someone who spends 120k "financially responsibly" on a vehicle doesn't mind the additional 45k but that just isn't true in reality (i.e. we are talking about an almost 40% price increase). Of course if you make 700.000 a year, making the additional 300.000 will be easier for you than for someone who makes 150.000 a year. What happens in 99% of the cases of time is that people move from 15% of the income spend on cars to 20 or 25% and that makes one an offender of that financial responsibility rule. In addition, the original rule also wasn't 10-15% of the income spent on the car value. The original saying goes 10-15% of income spend on mobility, which includes insurance, fuel, cars, and public transport.

You are assuming someone that spends $120k or even $165k is buying this out of their yearly income. Let’s move beyond that and say the person is living well conservative of their net worth and is beyond the need of working for their income. Being financially conservative and planning can yield a early retirement/financially independent. This opens up a different universe of how I look at spending money. Buying and living a higher end lifestyle naturally reveals itself and a $45k upcharge in a luxury vehicle is not even note worthy, especially if cars are a passion to you. Buying a BMW 7 series out right is cool. Buying a 7 series outright and not have to go to work the next day to pay for it is the exit strategy.


Let’s separate two very different levels of lifestyle money.

Being “Rich” means you “need” to work to maintain your lifestyle. You can go from Rich to poor if your income stops if you stop working.

Being “wealthy” means you don’t need to work for your income and you have acquired enough wealth that transcends you to a much more stable level of lifestyle and purchasing power. This also affords you the most precious asset and that is your own personal time.

[Paultattoo]

I'm a jeans and T-shirt guy. Can't help it, I'm comfortable this way. Yes usually worn out jeans and old T-shirt but what can I say.

I had my heart set on the three row Mercedes. Did all my due diligence and studied every web page and YouTube video I could find.

Smiling and feeling great I walked into the Mercedes dealer nearest my home. I walked to the front desk (passing 3 salesmen who ignored me). I asked the front desk for a new car salesman. They asked why? Why? Really? Why? Not for a hot dog ya duche lol

When they got me a salesman he walked up to me and said he had a closing soon and will find someone else. I waited about ten minutes. Sitting inside the car I wanted to own. After ten minutes, I went back to the front desk. They called for a salesman to the front. The same guy came back and said kind of rudely that he had a closing and there is no one else to help me because I was his up. Then he just walked away.

The dealership has other autos in the same building so while waiting and now a little bummed, I walked next door the the BMY side. First time I seen the X7 in person and I have to admit it looked better. Within seconds, a salesman walked up to me and asked if I wanted to drive it. I said that I would like to try it out but I did come to buy a Mercedes. He said, no problem and if I wanted he would get me a Mercedes salesman or let me drive the X7. Whichever I want.

I drove the X7. Fuc$ing bought it 30 minutes later too

[BMW5and7]

Originally Posted by Paultattoo

I'm a jeans and T-shirt guy. Can't help it, I'm comfortable this way. Yes usually worn out jeans and old T-shirt but what can I say.

I had my heart set on the three row Mercedes. Did all my due diligence and studied every web page and YouTube video I could find.

Smiling and feeling great I walked into the Mercedes dealer nearest my home. I walked to the front desk (passing 3 salesmen who ignored me). I asked the front desk for a new car salesman. They asked why? Why? Really? Why? Not for a hot dog ya duche lol

When they got me a salesman he walked up to me and said he had a closing soon and will find someone else. I waited about ten minutes. Sitting inside the car I wanted to own. After ten minutes, I went back to the front desk. They called for a salesman to the front. The same guy came back and said kind of rudely that he had a closing and there is no one else to help me because I was his up. Then he just walked away.

The dealership has other autos in the same building so while waiting and now a little bummed, I walked next door the the BMY side. First time I seen the X7 in person and I have to admit it looked better. Within seconds, a salesman walked up to me and asked if I wanted to drive it. I said that I would like to try it out but I did come to buy a Mercedes. He said, no problem and if I wanted he would get me a Mercedes salesman or let me drive the X7. Whichever I want.

I drove the X7. Fuc$ing bought it 30 minutes later too

Love the story; but now am asking myself this question: Am I crazy that I always spend HOURS AND DAYS researching a car before even approaching it on the dealer lot before buying, while someone buys a car within 30 min from the first time he had seen it? Wish I have your confidence level, lol, but in my case, until I read every page in the brochure, every video available on it, and every description available on every package, I can not even think about taking the car for a test drive; lol. Buying a car is the most stressful activity for me, just because how concerned I am that I may have missed something.

[Paultattoo]

Originally Posted by BMW5and7

Love the story; but now am asking myself this question: Am I crazy that I always spend HOURS AND DAYS researching a car before even approaching it on the dealer lot before buying, while someone buys a car within 30 min from the first time he had seen it? Wish I have your confidence level, lol, but in my case, until I read every page in the brochure, every video available on it, and every description available on every package, I can not even think about taking the car for a test drive; lol. Buying a car is the most stressful activity for me, just because how concerned I am that I may have missed something.

Let me elaborate a little more.

Some say I have OCD. But I prefer to call it CDO because it's alphabetical that way. Yes, it is that bad...

I did my due diligence on every three row SUV in this class. Watched every video and read every owners manual.

For: Volvo xc90
Lincoln Aviator
BMW X7
Mercedes GLS
Audi Q7
Volkswagen Atlas
Palisades
Land Rover
Telluride
Maserati

All of them!!! I can still quote specs

For price and what I wanted the Mercedes was my first pick and the BMW was my second. Before anyone starts to say which car is the best, I can honestly say that being able to actually shop for any one of these vehicles is an honor and a privilege, no matter which one you buy, you are buying great.

All of them had their pros and cons. For my money and what I was looking for I had to toss out the Maserati and the Rover. I wanted better than the VW or the Palisades and the Telluride. That left, for me, the Lincoln, BMW, Mercedes and the Audi. The Audi dealer closest to my home is a rip off and a bunch of thieves. (I have video if you want to see)

So down to GLS, X7, and the Aviator. The Ford just didn't impress as much as I wanted. SO, almost like flipping a coin, I went for the Mercedes.

[MystroX5]

Originally Posted by Paultattoo

Let me elaborate a little more.

Some say I have OCD. But I prefer to call it CDO because it's alphabetical that way. Yes, it is that bad...

I did my due diligence on every three row SUV in this class. Watched every video and read every owners manual.

For: Volvo xc90
Lincoln Aviator
BMW X7
Mercedes GLS
Audi Q7
Volkswagen Atlas
Palisades
Land Rover
Telluride
Maserati

All of them!!! I can still quote specs

For price and what I wanted the Mercedes was my first pick and the BMW was my second. Before anyone starts to say which car is the best, I can honestly say that being able to actually shop for any one of these vehicles is an honor and a privilege, no matter which one you buy, you are buying great.

All of them had their pros and cons. For my money and what I was looking for I had to toss out the Maserati and the Rover. I wanted better than the VW or the Palisades and the Telluride. That left, for me, the Lincoln, BMW, Mercedes and the Audi. The Audi dealer closest to my home is a rip off and a bunch of thieves. (I have video if you want to see)

So down to GLS, X7, and the Aviator. The Ford just didn't impress as much as I wanted. SO, almost like flipping a coin, I went for the Mercedes.

I think you are right. Dealer network near you is a big factor for me as well as I live very rural. I am thrilled with my loaded 2020 X7M50i and plan on keeping it long term. I can do this because in my fleet of cars I just don’t put a lot of miles on the X7. It’s my pampered luxury vehicle and not my everyday vehicle. If I were to replace it, I would probably go GLS63 as I like its more conventional styling or sacrifice room and go Cayenne Turbo. Other than Range Rover, it’s tough to make a “bad” decision in the $125k+ range.

[Saejin]

Man, I feel poor(er) after reading the most recent posts...lol

Don't think I'm anywhere near where many of you are, but I'm comfortable and the X7 fits good into our overall plan even though it's a depreciating asset...99% of cars are. Have a few friends who are taking a different approach and they always give me a little bit of crap about my X7, but it works for us and I'm enjoying life.

I like where this thread is going with the different views on the financial ins and outs, but hate to hijack the OPs thread...looks like things got resolved anyway.

[patrikr]

Originally Posted by Saejin

Man, I feel poor(er) after reading the most recent posts...lol

Don't think I'm anywhere near where many of you are, but I'm comfortable and the X7 fits good into our overall plan even though it's a depreciating asset...99% of cars are. Have a few friends who are taking a different approach and they always give me a little bit of crap about my X7, but it works for us and I'm enjoying life.

I like where this thread is going with the different views on the financial ins and outs, but hate to hijack the OPs thread...looks like things got resolved anyway.

Haha, I felt the same when reading this. I applaud and admire people who can afford cars like this and don’t have to go to work the next day. I’m working on having that kind of life but not there yet

[Paultattoo]

Originally Posted by patrikr

Haha, I felt the same when reading this. I applaud and admire people who can afford cars like this and don’t have to go to work the next day. I’m working on having that kind of life but not there yet

I get it. I lucked out into mine. I was driving a paid for Jeep Cherokee. The first year of their 9 speed transmission. The trans blew out FIVE TIMES. No big deal to me, warranty. After the fifth trans, Chrysler gave up and sent the whole car back to Detroit. The dealer was Napleton and they have many brands. I was given the entire amount of the car ($34,654) as a credit at any one of their dealerships. The car was two years old and had 48,000 miles and I was already shopping for a new one.

Napleton was so cool about all of it. They just took in a CPO honest executive driven Diesel Cayenne. Sticker was a tic over $80,000 and they sold it to me for $50,000. So I only had to come up with around $15,000 to drive away with an almost new Cayenne and it had a 100,000 mile warranty. Great car! I wish they made it in a three row. Maybe some day.

So I drive it for 99,000 miles and am involved with the diesel scandal. Porsche cut me a check for close to $30,000 because of the polluting diesel engine.

I traded it in on an Audi Q7. They gave me $50,000 for the trade! Plus the $30,000 check. I drove away with my new Q7 for around $9000 cash. Now I just trade in every two years while I still have a pretty good down stroke from the trade in. Bought a 2020 BMW X7 in Amitrin. That took about $30,000 and the Q7. Traded in the 2020 X7 for a 2022 (Still the best car I ever drove so why switch?) Again, around $30,000 out of pocket.

That 2022 X7 was rear ended pretty good and the dealer (Motorwerks) just took the wrecked X7 and the insurance check plus another $8000 from me and I bought another 2022 X7.

I'm basically still trading in my $35,000 jeep every two years but with the trans problems and the diesel scandal instead of spending $35,000 for another Jeep, I get to spend $30,000 for another luxury brand.

I've been lucky

[Saejin]

Originally Posted by MystroX5

Let’s separate two very different levels of lifestyle money.

Being “Rich” means you “need” to work to maintain your lifestyle. You can go from Rich to poor if your income stops if you stop working.

Being “wealthy” means you don’t need to work for your income and you have acquired enough wealth that transcends you to a much more stable level of lifestyle and purchasing power. This also affords you the most precious asset and that is your own personal time.

I like the way you put this. I would take it a step further and even say being wealthy doesn't always mean you're making more money than say a "rich" person. It's just they way you make that money and what it affords you, "time", is worth more to some people than a salary job at $300K a year.

You can still be financially poor with a high salary...basically you spend more than you make or you have more debt than that income can truly support.

[lloyd99]

Originally Posted by Paultattoo

I get it. I lucked out into mine. I was driving a paid for Jeep Cherokee. The first year of their 9 speed transmission. The trans blew out FIVE TIMES. No big deal to me, warranty. After the fifth trans, Chrysler gave up and sent the whole car back to Detroit. The dealer was Napleton and they have many brands. I was given the entire amount of the car ($34,654) as a credit at any one of their dealerships. The car was two years old and had 48,000 miles and I was already shopping for a new one.

Napleton was so cool about all of it. They just took in a CPO honest executive driven Diesel Cayenne. Sticker was a tic over $80,000 and they sold it to me for $50,000. So I only had to come up with around $15,000 to drive away with an almost new Cayenne and it had a 100,000 mile warranty. Great car! I wish they made it in a three row. Maybe some day.

So I drive it for 99,000 miles and am involved with the diesel scandal. Porsche cut me a check for close to $30,000 because of the polluting diesel engine.

I traded it in on an Audi Q7. They gave me $50,000 for the trade! Plus the $30,000 check. I drove away with my new Q7 for around $9000 cash. Now I just trade in every two years while I still have a pretty good down stroke from the trade in. Bought a 2020 BMW X7 in Amitrin. That took about $30,000 and the Q7. Traded in the 2020 X7 for a 2022 (Still the best car I ever drove so why switch?) Again, around $30,000 out of pocket.

That 2022 X7 was rear ended pretty good and the dealer (Motorwerks) just took the wrecked X7 and the insurance check plus another $8000 from me and I bought another 2022 X7.

I'm basically still trading in my $35,000 jeep every two years but with the trans problems and the diesel scandal instead of spending $35,000 for another Jeep, I get to spend $30,000 for another luxury brand.

I've been lucky

Thanks for sharing your story. Wow, sounds like some bad luck, turning into some good luck, alongside some disciplined purchases - multiple times. Well played!