Unlocking the Truth: How AI Legalese Decoder Reveals the Reality of Car Ownership
- April 28, 2024
- Posted by: legaleseblogger
- Category: Related News
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## Losing Interest in Cars as a Car Enthusiast
As a passionate car enthusiast with a history of owning numerous vehicles, I find myself gradually losing interest in cars. The financial burden of maintaining and fueling these vehicles has become overwhelming.
## Financial Impact of Car Ownership
Cars are notorious for burning through money with constant expenses like maintenance, fuel, insurance, and depreciation. As someone who spends just 30 minutes in a car each day, I struggle to justify allocating a significant portion of my income towards something that provides minimal daily utility.
## Simplifying Car Choices
In light of these financial concerns, I have made the decision to streamline my car ownership experience. Rather than investing in expensive vehicles, I have opted to stick to purchasing budget-friendly cars in the range of 5-10k for the foreseeable future.
### How AI Legalese Decoder Can Help
AI Legalese Decoder can assist in navigating legal jargon and complexities related to car purchases and ownership. This tool can decode complex legal documents, contracts, or agreements involved in buying or selling vehicles, ensuring transparency and clarity in transactions. By utilizing AI Legalese Decoder, car enthusiasts can make informed decisions and protect their interests when dealing with legal aspects of car ownership.
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****** just grabbed a
New cars are such a trap for the middle class! Good on you for recognizing it. There’s tons of ways to enjoy nice cars without going into crazy debt. I rented a corvette on Truro for my 35th birthday.
This subreddit has a lot of hate for nice cars.
If someone wants a nice car and budgets appropriately, that’s not a poor financial decision. Everyone spends extra money on something they care about. As long as they live within their means, that’s the only thing that matters.
There’s another way – either buying new or practically new and driving it until it dies. Say those $10k cars only last you 7 years. So in 14 years you buy 2 cars for $20k. I’m still driving a practically new car 14 years later so you could spend $20k on it and more or less be in the same spot. Especially if those $10k cars have repairs sooner.
It’s so interesting how many people equate cars with wealth.
I have never been a car guy. Get me from point A to point B and I am happy. Nothing at all against car people. To each their own.
But, it just floors me how cars are perceived.
It’s funny. I have a stereo system that costs about the same as very nice car. But, have had multiple family and friends comment on how we must not be doing well financially because we don’t drive Infinity and Lexus.
There’s a reason it’s always older dudes driving the nice cars. They’re the only ones who can afford them.
I came to a different realization. Although I am at a stage where I can afford a new 911 or something of that nature, I don’t really feel like it. I enjoy both wrenching and driving and 90s and early 2000s enthusiast cars is where it’s at for me. I normally stay well under $20k. I had a chance to drive a $200k 911 GTS recently on some twisties. Although the car is amazing, I wasn’t sad getting back into my Z3M that I picked up for $7k a few years ago (added $4k in maintenance into it).
Good for you. Heading into my sunset years with a comfortable nest egg, I’m saying “I’m glad I never bought that beemer, because I’d rather be comfortable in retirement.” That being said, my plan has always been: a) buy a cheaper new car (subarus); 2) drive ’em ’til they’re dead; III) do it again. So once every 10 yrs or so, once every 250KMiles or so, I get that new car smell and electronics that…fuck, have they really not figured out in the last 10 years how to not start the car audio at 9 Gajillion dB?
I’m a car guy, and I probably spend too much money for what this sub would deem appropriate for a nice car ($475/mo), but sometimes I think this sub gets sidetracked when it comes to stuff like cars in that they get treated like an all or nothing scenario.
Afterall, it’s not like the only thing between Buffet being a billionaire and him being an average Joe was his choice to live in a modest home and drive a modest car, though people here act like if you’re not following his example by living well below your means then you’re doing it wrong, which isn’t true.
If someone can afford to drive the car they want while still being able to contribute a comfortable amount of money to their retirement/savings, then thats a totally reasonable expense for a want.
It’s called *personal* finance after all, no?
Knowing you can afford a nice vehicle but also knowing it’s a waste of money is the kind of insight most people will never have.
Be grateful for that.
Or budget a nicer car when your investing is on track and you own a home. Finance is personal
Or buy a cheaper Tesla (I have a 2018 Model 3 that I bought brand new), and just drive it until it dies. Saving you a ton of money on gas and maintenance over it’s lifetime, and giving you more quality of life.
I would pay luxury car lease money to cut my commute to 30 minutes a day.
But not to commute a long distance in a nicer car. That’s just ridiculous.
I went this direction as I got older: Aside from my normal, reliable, comfortable paid-off daily car, I just have fun older cars and motorcycles now. They scratch the itch and I can pick one up for the cost of two or three payments on a brand new enthusiast car. The money those cars would cost can go into bigger houses with extra garages for the toys.
New cars look great but they don’t meet the value proposition anymore.
Sounds like you’ve built up an identity around a hobby and your interests are shifting. It’s hard to let go of old you. But let it go. Find the new you.
If you’re absolutely trying to minimize spending, this is the way to go. Not argueing or trying to convince you not to go this way.
But there is a middle ground in all this. You don’t need to flip flop from one extreme to the other. You can get nice cars that are only a few years old. The biggest deprecation hit has already hit.
Also, there’s non-financial reasons for newer cars. If you need more seats/space, you’re gonna need to spend more. Newer cars have warranties that are attractive if you’re not handy. They have newer technology, are usually safer, more environmentally friendly ( if this is a priority for you).
Money is a resource, not a score. You should be using it to make your life better. The sub just tries to point you to the fastest way to gather the resource (and keep). You have to decide what “better” means.
I’m with you. Don’t get me wrong like I think the new Tundras are beautiful but no way in hell am I paying 65k for one. There’s so many other things I’d rather spend my money on.
Not your whole life. Save for retirement properly and you can enjoy one then. I went all my life with used cars until I retired. Saved enough to retire comfortably and now I’m able to buy new.
I love cars. I just found the car that I enjoyed driving that allows me to feel power without burning a hole in my life.
I’m about to pay this thing off. I throw a little money at it in terms of mods, and it’s plenty quick and I don’t think I need anything much quicker. It’s also insanely practical.
If you wanna join us come over to r/golfgti
3 rules to car buying when you’re graduating from the point A to point B cars in that $5k-$10k region-
1) OTD price should be no more than half your annual income
2) Do not finance longer than 4 years
3) Total monthly expenses should not be greater than 50% of your net income
Using these 3 as variables you can calculate how much of a down payment you’d need to make the desired car purchase work. If you drop 1 of the rules the whole thing becomes a trap. For me, my answer was a 2023 BRZ @$32k OTD with $8k down.
However, 99% of car enthusiasts will get more out of driving something they can afford to break. Even though I can afford financially to turbo my BRZ, I can’t ~afford~ to void my warranty. Just buy a point A to point B Corolla then buy a project car to work on>cruise>break rinse repeat. Or if you care about speed tbh a motorcycle is the best bang for your buck.
Agreed whole heartedly, soon enough you’ll realize that 2700$ Corolla with 125k on it is much better than any $5-10k car. Hahahahah
I paid $2500 for my 2003 Acura MDX in 2019. Coming up on 5 years and we have probably put less than $3000 into maintenance/repairs (caveat: my husband is a millwright and does most repairs himself). It’s got just under 400,000km (250000miles) and will probably go another hundred thousand.
It’s comfortable, fits my kids and giant dog. We put a $100 stereo in so I can have Bluetooth.
When she eventually kicks the bucket we’ll upgrade to something a bit newer, but I can’t fathom owning a brand new car for several hundred dollars a month after paying about $83/month, and getting cheaper everyday I drive it. Heck, I can probably sell it for what I paid for it tomorrow.
I don’t judge anyone who does things differently, and if I was a single woman I probably would lease or finance to avoid much of the headache that older cars do inherently come with (not that newer ones are immune though). But I have some friends who have two vehicles with payments of $500+ and it’s just wild to me.
I mean 5-10k has a lot of fun in it. Thats miata, wrx, s197 mustang, celica, integra, some corvettes, some camaros, bmws you dont want but are fun, Porsche 944 and boxters, i could go on. Lots of older stuff but unless by enthusiast you mean you want supercar or luxury you have a lot of fun choices under 10k
I mean it really depends on what you consider a ‘nice’ car?
You describe yourself as a car enthusiast, but what kind of enthusiast are you? BMWs will always be costly but you can still pick up a very nice, lightly modified Integra or RSX Type S for relatively cheap. Used Preludes are very affordable. Used S2000s can be found at an affordable price. EG Hatches are still extremely cheap.
Used 350Zs can be found everywhere.
You can find a Toyota Beams Engine and Transmission for $2500 and throw it into a used Celica for very cheap.
I personally wouldn’t recommend buying any used Korean cars but you can find Genesis 3.8 Coupes for cheap.
I drove a modified 2000 Civic Si for many years, enjoyed not having a payment. But I knew it would it would eventually die so I saved up for a large down payment on a new car. When it died I jumped into a GR86 for a very affordable price considering that it’s a new car. I’m going to drive it until it dies.
Good on you for not falling into the debt trap like many of us car enthusiasts do. I’m happy with no payments on my 2003 nissan 350z.
31 and have enough to go and buy a new king ranch F150 in cash but opted out and found a 2012Camry with 120k clean title for 9k still a bit high but it was clean and the older lady even met me at the sheriffs office to get the deal done so I bought it. 4 years later have done nothing except new tires brake pads and oil changes.
I love my 1996 Toyota Shitbox P9 and I’ll drive it until it falls apart. Then I shall acquire a slightly bigger shitbox.
Turo – I get my fix then give it back
I get it if cars are you hobby and you have always wanted a certain car, but I’m sure as shit not working my ass off for half my paycheck to go in to a vehicle to drive to work with.
If it doesn’t have to be new, you can still have a good time. My S2000 is 18 years old now, and I’ve had it for 14. Can’t bring myself to sell it, and driving a paid off car is nice too.
My first few cars were older paid off cars between 3-5k. Ive had a lot of my income saved up thanks to owning these older cars. When my old car was rear ended. Instead of getting the tail fixed and selling it, I gave it away to my dad as he had sold his pickup truck for $$ to go to Europe to see Grandma for her 90th birthday. I also didn’t see myself getting much money for it anyways. My dad spent something like $1500 to get the old car fixed as later on he discovered there were some more problems under the hood. My dad was also able to fix up the parts that were damaged from the rear end collision as well. Seems to be running fine for now.
Knowing how much money I’m putting into my new car monthly considering car note, gas and insurance, it kind of stresses me out sometimes. I don’t make a lot of money. I’m most likely paying too much for my car because my down payment was too little. But I’m getting by only because I’m not spending my money on things I used to enjoy like going to concerts and shopping.
Sometimes I regret getting the new car, but this new car is giving me lots of memories and should last a long time. But still I feel like I would be more comfortable financially if I had just saved up and bought an older car instead of going get ripped off at the dealership. Never doing that again.
My recommendation is to have a basic, reliable, affordable daily driver and a race car for some lower level racing leagues. The two together shouldn’t cost more than one nice daily driver, and if you blow an engine while you’re short on cash, you can just leave your race car in its trailer while you save up to repair it. Plus, it’s much more fun to actually race your car rather than just drive it around.
I’m really happy to be on track for a great retirement, and have had the opportunity to own some really cool cars. The last car I owned was a BMW E92 M3 with the 4.0L S65 V8. It was an absolute dream come true, and I enjoyed it tremendously while I owned it. But that was the car that taught me a valuable lesson: the enjoyment I get from actually owning a car like that doesn’t match up with the financial commitment.
I work from home. I don’t even need daily transportation. My wife and I share a car. Here’s how I keep my passion for automobiles going though:
* I bought some sim racing gear and play a sim racing game called Assetto Corsa. This does an incredible job of scratching the driving itch.
* I go to motorsports events. There is a racing series called the IMSA WeatherTech Sports Car Championship that holds races all around the country. We go to the one in Daytona frequently.
* I bought a motorcycle. They’re *way* less expensive than cars, and they offer a lot more engagement. Yes, there are risks involved, but I do what I can to mitigate safety concerns.
* I look for free opportunities to drive cars. For example, BMW used to do a free drive event at a track that is about an hour drive from me. It was literally free. I’ve also been to an Aston Martin drive event (also free). I’ve ridden Ducati and BMW motorcycles at ride events for free as well. Follow manufacturers on social media and don’t be afraid to sign up for free events. The people running them literally do not care if you’re not there to buy.
The most significant one has to be the sim racing thing though. There’s a commitment in buying the gear and building a gaming PC, but IMO it’s worth it. My current setup is worth a few thousand dollars, but if you were to start with a Logitech G29, a PS5, and a basic wheel stand you could get started for a little more than a grand. Less if you already have the PS5. GranTurismo is better that it ever has been.
Buy used 3-5 years or ex-lease. Can buy a super nice car for 2/3 of the price and similar safety features.
FWIW, 2-3 year old Teslas are <$30k routinely and are basically the same cars.
I didn’t buy a brand new car until I was in my mid-40s and could easily afford it. All you really need is reliable transportation.
I bought a new car (EV) in 2020, saved up for it for a few years and have been very happy with it. Being a member of this subreddit and watching my savings grow really has changed my opinion on buying anything new ever again.
I’m watching the prices of Used EV’s and there’s some incredible deals starting to appear, and will appear when these 2021-2022’s start to get traded in for something new. I can’t wait to get a good deal and save my money for retirement.
The key thing with cars is to hang onto them until they fall apart.
It’s actually OK to buy a car new (assuming it’s a payment you can afford and the loan period is no longer than 4 years) as long as you hang on to it for 10-15 years. The sweet spot comes after the loan is paid off and before the vehicle becomes so unreliable that you have to ditch it. Beaters also cost a lot less to insure, so there savings all over.