Quote:
Originally Posted by LakeSurfer
Perhaps our definitions of frugal are vastly different.
I'm pretty relaxed with my earnings and after investments, bills and so on are taken care of it's a free for all with what's left. Mainly because we have worked our way up the ladder in our careers to do what we want when we want (within reason).
Again, a new car will depreciate instantly when the keys are handed over to you. You lost more than $5k in the 20 minutes it took you to spend the $150k. New cars can expect 20-30% depreciation in the first year, luxury cars are on the higher side. A frugal person would buy an off lease, low milage, 1 year old vehicle where the big chunk of depreciation has already taken place.
I'm certainly not saying that you should voluntarily give them 5 grand but it sounds ridiculous when someone says, I was gonna buy a $150,000 car but the paint cost $5k so I'm just gonna get a Camry instead because that $5k is a real big financial hit.
I really don't think there are to many "cheap" people out there driving brand new M8's or 850's.
We like deals not because of the numbers but because it's a "deal". It's a good feeling. I recently ordered a new table saw that was almost $2,000 but what sold me was the free shipping. Shipping would've been maybe $150. I can afford the $150 shipping but I wouldn't feel good about it, I wouldn't feel like I got a deal. It has nothing to do with frugality and everything to do with emotions and feelings.
Just my opinions though.
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Totally agree on the "free for all" aspect on discretionary spending once investments (always come first), bills, etc. are paid for. Also, I agree on buying a 1 to 2 year old car after the initial depreciation has taken its toll as have done that several times over the past couple of decades. In the case of the M850i I already knew that there was not a 2019 in existence that met my specs so waiting for an off lease CPO return was not an option nor was driving an aggressive deal for anything on the lot.
That said I am not equating the fact that I or anyone else in the 8-series market is going to forgo the Individual $5K option and fall back and punt with a Camry. That is completely asinine as all of us that chose against the $5K custom Individual exterior still have our 8-series in the garage and zero loss of sleep in the process.
If you absolutely want to know where that $5K of savings is going it is to add a GENUS GNS1.2 to my collection. My watch broker has been working the deal since last November and we are now settling on the price given there are only 8 in existence and it has been somewhat of a bidding war. If I am successful I'll take ownership in early March and to add perspective it will be the equivalent cost of two M8Cs and then some. I will loose no sleep over it if the deal comes to fruition as there is no depreciation involved but rather appreciation of the asset. That said I agree we all like "deals" but everyone's construct is different as to what that means and our definitions of frugal may indeed be vastly different.