So uhh, I just realized how much $ I have spent the past 7 years…

on having 2 different, "nice" cars, and it’s pretty damn depressing.

When I was 17 1/2, I graduated from high school and as my present I got the down payment paid for on a lease of 2001 Audi A4. Got a nice deal, with a $325 monthly payment. Had it for 4 years, so I spent a total of $15,600 on it.

In 2005, I sold the A4 out of lease, paid it off and wiped my hands clean of it. I then financed a 2002 BMW 325 Coupe, and have had it for 3 years now this month. Payment is $423 a month so I have spent roughly another $15,200 on it so far.

That is almost $31,000. I look at my bank account and think, holy fuck, how nice would it be to have all of that $ back!? That would pay for all of my student loans and then some.

I am by no means broke…I have worked since I was 16, in college now and graduating this coming May with a degree in film production. But I stop and think, man…I could have worked a lot less, not missed out on a lot of good times because of it, and all because I have enjoyed driving a nice car? Why didn’t I just have my parents get me a used Honda or something when I graduated high school?

Is this something I should really let bother me? Nothing I can do about it now I guess, except to trade in the BMW for something cheaper, which I plan on doing because the extended warranty is up at the end of the month.

IMO, it does sound depressing… it reminds me of my student loans that I’ll be paying for 20 years, and at the end of it all, I’ll be paying them about $90k with interest and everything. That makes me depressed because I take a look at it and say, "Damn, I could of gone to a four year University with that money… would of gotten a scholarship and all that, but no, I had to go for a dream." And then I think about it some more and get more depressed and then say to myself, "I would be doing so much better if not all that…"

In any case, what’s done is done and all we can do now is plan for the future. Plan on making better and more thoughtful decisions in our lives.

It’ll all be over soon.
I feel the same way I’m on my 5th new car and i’m 26 granted two were complete lemons and one got totalled by a semi.

like someone said.. learn and keep it moving.
eh dont beat yourself up about it. u enjoyed the cars now move on to something more practical
You don’t regret it do you? I mean, of course it would be nice to have it all back but then you probably wouldn’t be where you are in life right now.

You make money to spend it.
That’s why I’m always glad I just got a shitty ass Saturn as my first car (still have it). It’s was already paid off a while ago and I didn’t waste a ton of money. However, cars have never been important to me. My Saturn still run amazing after 7 years.

Oh well man, at least you know now and maybe will think twice about buying another expensive car?

You don’t regret it do you? I mean, of course it would be nice to have it all back but then you probably wouldn’t be where you are in life right now.

You make money to spend it.

I do and I don’t…

I love cars, so I haven’t minded spending the $ on them.

But when I think about it, did I really need them right now, at this age, in college?

One of my passions in life is cars…I’d gladly pay that much over 7 years versus driving a beater around, to each his own Then again it’s always good to keep your other debt to a minimum.
It’s not much better on the opposite end of the spectrum:

My bf settled for a typical 2001 Sentra as his first car. He still has it to this day even though for years he’s constantly dreamed of a nicer car (Audi, BMW, etc.). His still runs well and he actually has plenty of money to afford a nice new car. The other day he said maybe he’d just drive it for 2 more years but get it a paint job. I was like " it doesn’t even need a paint job! Why not just drive it for 2 years the way it is, save your money and then buy the car of your dreams."

I’ve just never understood why young kids who don’t have money get these awesome high class cars. I’m working in an upper class neighborhood right now and I just met a kid 30 minutes ago who was 17 with a brand new Audi. Makes no sense.
Leasing is really only a good option for people that want to change cars every 2-3 years and don’t mind paying for that luxury. Most people are far better off buying a car outright.

The high price of cars is why I drive a Honda. Those things are tanks and I can drive it till the wheels fall off. I’ve had mine since 2000 and it’s still going strong. I don’t have a car payment and it’s great. I could afford a new car but I don’t want to.

IMO cars are never an investment. They are always a consumable….like toilet paper, paper towels and food. Therefore, I don’t like wasting money one one.

Same here…but something like a 98 accord isn’t exactly a beater and would have gotten the job done.

Maybe I should just ride this out…have 2 years left and it will be paid off

I do and I don’t…

I love cars, so I haven’t minded spending the $ on them.

But when I think about it, did I really need them right now, at this age, in college?

The answer? NO but you’ll likely not listen to me.

If you’re in an apartment and going to college then you obviously have a lot of expenses.

IMO it’s much better off to wait until after you graduate before spending a lot of money on cars.

Hell if you had invested that money, by the time you’re 35 you would be AMAZED at how much money you have at your disposal.

ANYONE can be a millionaire. THey just need to consistently invest, no matter how little they have. Even $50/month over 20 years can have a HUGE impact on ones net worth and cash flow. Most people however, are too into the toys…..too bad for them.

I know plenty of 70 year olds that were the same way and now they can’t quit working because they have to have money/benefits. If they had learned how to save and invest, they wouldn’t need to work a day past 65. Most college students are too short sighted to think like this.

My bf settled for a typical 2001 Sentra as his first car. He still has it to this day even though for years he’s constantly dreamed of a nicer car (Audi, BMW, etc.). His still runs well and he actually has plenty of money to afford a nice new car. The other day he said maybe he’d just drive it for 2 more years but get it a paint job. I was like " it doesn’t even need a paint job! Why not just drive it for 2 years the way it is, save your money and then buy the car of your dreams."

I’ve just never understood why young kids who don’t have money get these awesome high class cars. I’m working in an upper class neighborhood right now and I just met a kid 30 minutes ago who was 17 with a brand new Audi. Makes no sense.

My bf settled for a typical 2001 Sentra as his first car. He still has it to this day even though for years he’s constantly dreamed of a nicer car (Audi, BMW, etc.). His still runs well and he actually has plenty of money to afford a nice new car. The other day he said maybe he’d just drive it for 2 more years but get it a paint job. I was like " it doesn’t even need a paint job! Why not just drive it for 2 years the way it is, save your money and then buy the car of your dreams."

I’ve just never understood why young kids who don’t have money get these awesome high class cars. I’m working in an upper class neighborhood right now and I just met a kid 30 minutes ago who was 17 with a brand new Audi. Makes no sense.

I see your point, but I was able to afford it, as well as my current car. It has just come to a point where I think I would rather be paying less each month.

If that makes any sense.

I see your point, but I was able to afford it, as well as my current car. It has just come to a point where I think I would rather be paying less each month.

If that makes any sense.

Oh it definitely makes sense. If I were you and I had far more important bills to pay I would switch my car in in a heartbeat.

The answer? NO but you’ll likely not listen to me.

If you’re in an apartment and going to college then you obviously have a lot of expenses.

IMO it’s much better off to wait until after you graduate before spending a lot of money on cars.

Hell if you had invested that money, by the time you’re 35 you would be AMAZED at how much money you have at your disposal.

ANYONE can be a millionaire. THey just need to consistently invest, no matter how little they have. Even $50/month over 20 years can have a HUGE impact on ones net worth and cash flow. Most people however, are too into the toys…..too bad for them.

I know plenty of 70 year olds that were the same way and now they can’t quit working because they have to have money/benefits. If they had learned how to save and invest, they wouldn’t need to work a day past 65. Most college students are too short sighted to think like this.

You’re right

The only other important big bills I have are insurance obviously, and rent…rent is actually cheaper than my car payment

I thought you had school bills?

Well, that too, once I graduate

I do believe you will be kicking yourself once you start paying on those student loans. They have a way of hanging around for many, many years. However, if you had saved that money you spent on cars….you’d prolly be able to make a HUGE dent in those loans and may even have paid them off.

I’d start looking for a different car right now. There are plenty of smaller cars out there (like Camry’s) that run very well, don’t cost too much to fill, and have a long lifespan.

Okay dude you’re killing me with the would have and could haves

We all know I can’t go back in time.

I am not worried that I will have a hard time paying them off, with my degree it should not be a problem.

Ok…well have fun with your fucked up finances then…you’re obviously a financial genius.
I have a 2000 Saturn SL series 4-dr that is just now needing careful attention [it’s had great maintenance through the years and a lot of stuff that gets changed at 60,000 miles didn’t need it till about 80,000]. I’m going to drive this car into the fucking ground before I buy another car….but I won’t lie and say I don’t dream about nicer faster cars.

:shrug: This one gets about 35 miles to the gallon and has been paid off for about five years now. I know I’m fine at least.
Here’s my car ownership history

97 Accord = $20k, sold for $9k after 2 years
99 Solara = $27k, sold for $5k after 5 years
04 Accord = $24k, still own it

So I’ve spent more than you.
Pretty similar here:
94 Integra – spent about 13k tops including mods, sold for 5k after 6 years to a friend
01 S2000 – spent about 31k including mods, sold for 23k after 6 years

Now I have a 88 CRX that I love to death about to roll over to 230k and runs like a champ! I’m sure I could have done lots of things with that money, but I don’t really regret it. I enjoy the hobby and plan to do it all over again later in life too Right now just saving for a dream car in maybe 5-10 years from now

on having 2 different, "nice" cars, and it’s pretty damn depressing.

When I was 17 1/2, I graduated from high school and as my present I got the down payment paid for on a lease of 2001 Audi A4. Got a nice deal, with a $325 monthly payment. Had it for 4 years, so I spent a total of $15,600 on it.

In 2005, I sold the A4 out of lease, paid it off and wiped my hands clean of it. I then financed a 2002 BMW 325 Coupe, and have had it for 3 years now this month. Payment is $423 a month so I have spent roughly another $15,200 on it so far.

That is almost $31,000. I look at my bank account and think, holy fuck, how nice would it be to have all of that $ back!? That would pay for all of my student loans and then some.

I am by no means broke…I have worked since I was 16, in college now and graduating this coming May with a degree in film production. But I stop and think, man…I could have worked a lot less, not missed out on a lot of good times because of it, and all because I have enjoyed driving a nice car? Why didn’t I just have my parents get me a used Honda or something when I graduated high school?

Is this something I should really let bother me? Nothing I can do about it now I guess, except to trade in the BMW for something cheaper, which I plan on doing because the extended warranty is up at the end of the month.

Hopefully more kids will take your advice. Congratulations on growing up and being a mature person with thoughts, seriously.

I’ve just never understood why young kids who don’t have money get these awesome high class cars. I’m working in an upper class neighborhood right now and I just met a kid 30 minutes ago who was 17 with a brand new Audi. Makes no sense.

Because they’ve spent their childhood watching shit like MTV Cribs or other shows that expose the lifestyles of the wealthy. They think they have to have it all NOW, and can’t wait til they are at an age where they can actually appreciate a nicer vehicle or nicer things in general.

I personally think the media pushes us to have ONLY nice things and people are allowing the consumerism to, well, consume them

Why settle for an old Saturn for $7,500 when you can have this lovely McLaren Edition Benz for $750,000? Why buy a $7 shirt at Ross (no one will know unless you tell) when you can win all the respect of fashionistas with this 1,350.00 shirt that will still end up in the Salvation Army pile in 6 months. Girls, you must have a $2,500+ purse to haul all our Mac cosmetics in. We simply cannot just get the $10 eyeshadow at the drugstore or the $30 purse at Target now can we?

But no one really stops to think about this…are these wealthy folks truly happy? Look at (of all people ) Britney Spears. She was on top of the world for a bit and is now little more than a crumpled media mess. I could rattle on and on, but I can say that when I drive through Scottsdale ($$$$ part of Phoenix area) I see alot of people driving big fancy cars, wearing the nice clothes, etc…but they all have what I call perma-scowl, that permanent frown because they are so miserable because they have no soul, nothing to live for other than the next purchase.

thanks

what are you even doing in this forum?

Because they’ve spent their childhood watching shit like MTV Cribs or other shows that expose the lifestyles of the wealthy. They think they have to have it all NOW, and can’t wait til they are at an age where they can actually appreciate a nicer vehicle or nicer things in general.

I personally think the media pushes us to have ONLY nice things and people are allowing the consumerism to, well, consume them

Why settle for an old Saturn for $7,500 when you can have this lovely McLaren Edition Benz for $750,000? Why buy a $7 shirt at Ross (no one will know unless you tell) when you can win all the respect of fashionistas with this 1,350.00 shirt that will still end up in the Salvation Army pile in 6 months. Girls, you must have a $2,500+ purse to haul all our Mac cosmetics in. We simply cannot just get the $10 eyeshadow at the drugstore or the $30 purse at Target now can we?

But no one really stops to think about this…are these wealthy folks truly happy? Look at (of all people ) Britney Spears. She was on top of the world for a bit and is now little more than a crumpled media mess. I could rattle on and on, but I can say that when I drive through Scottsdale ($$$$ part of Phoenix area) I see alot of people driving big fancy cars, wearing the nice clothes, etc…but they all have what I call perma-scowl, that permanent frown because they are so miserable because they have no soul, nothing to live for other than the next purchase.

This is such a GREAT reply!! kudos!

Here’s my car ownership history

97 Accord = $20k, sold for $9k after 2 years
99 Solara = $27k, sold for $5k after 5 years
04 Accord = $24k, still own it

So I’ve spent more than you.

Sounds like you are getting old, and those younger aged purchases were actually worth that much to you at the time, now from a wiser (or older ) point of view, you do not think the expenses were worth it.

For example, we can look back into our own histories and pick out what we regretted.

More however, I am more interested in the ‘what if’ I could look back on myself from the future and pick out the mistakes I will make.

Or, the practical application, evaluate where I am and self observe every moment of my life. And that – that is hard.
I’m in a similar situation. But did the opposite

I’m 23. have a good job. Good income. Plenty of prospects and all that.

But I’ve had my 95 3 series for 2 years now, and was my first car as I used public transport for 3 years and didn’t need a car. got it at 160kms for 10k. Is now worth 8k with 210kms on the clock. I’m in the position now where I can easily afford to lease a newer car, but simply cannot face my money going down the drain. I own it outright and am proud of myself for achieving it.

That said, if you have managed your finances and have not had hardship as a result of the cars and enjoyed them, then so what?

I’m in a similar situation. But did the opposite

I’m 23. have a good job. Good income. Plenty of prospects and all that.

But I’ve had my 95 3 series for 2 years now, and was my first car as I used public transport for 3 years and didn’t need a car. got it at 160kms for 10k. Is now worth 8k with 210kms on the clock. I’m in the position now where I can easily afford to lease a newer car, but simply cannot face my money going down the drain. I own it outright and am proud of myself for achieving it.

That said, if you have managed your finances and have not had hardship as a result of the cars and enjoyed them, then so what?

Awesome stuff man…

And you’re right, maybe I am making a bigger deal out of it than I should be
Owning > Leasing

Owning a shitty ass car FTW. I paid $6000 for my Galant a couple years ago. I’ll either run it into the ground in a few years or I’ll sell it to a high schooler for $2000. Either way, I got my moneys worth and I could still potentially get some money back on the investment.

And owning a nice car in college is a terrible idea. Owning a nice luxury car before 25 is a terrible idea unless your job pays very well. I don’t know your situation, but I know I face a mountain of debt from loans when I graduate and I won’t be making good money for some time.
As long as you really enjoyed your cars, don’t feel too bad about it. According to you it’s not like you went broke because of this. You just realized you would’ve probably been happier using that money differently.

But if you didn’t even enjoy the cars and just bought them because you felt the pressure to have nice cars. Then I feel a little sorry. It’s like what the wonderful reply by KatWoman said: a lot of younger people are coaxed by media into buying luxury items they technically don’t need, can’t really afford comfortably, and worst of all…don’t even have the knowledge/taste to fully appreciate. They see beautiful and wealthy teenagers on the television doing it and feel very bad about themselves for not "keeping up".

There’s all these 25 year old girls fresh out of college trying consciously to live the Sex And The City lifestyle. They feel bad not being able to perfectly replicate their social life like the characters on screen. Give me a break. Those characters are supposed to be 35 year old and either very successful in their career or grew up with money. How about you wait ten years before comparing your own lifestyle to the characters on screen.

on having 2 different, "nice" cars, and it’s pretty damn depressing.

When I was 17 1/2, I graduated from high school and as my present I got the down payment paid for on a lease of 2001 Audi A4. Got a nice deal, with a $325 monthly payment. Had it for 4 years, so I spent a total of $15,600 on it.

In 2005, I sold the A4 out of lease, paid it off and wiped my hands clean of it. I then financed a 2002 BMW 325 Coupe, and have had it for 3 years now this month. Payment is $423 a month so I have spent roughly another $15,200 on it so far.

That is almost $31,000. I look at my bank account and think, holy fuck, how nice would it be to have all of that $ back!? That would pay for all of my student loans and then some.

I am by no means broke…I have worked since I was 16, in college now and graduating this coming May with a degree in film production. But I stop and think, man…I could have worked a lot less, not missed out on a lot of good times because of it, and all because I have enjoyed driving a nice car? Why didn’t I just have my parents get me a used Honda or something when I graduated high school?

Is this something I should really let bother me? Nothing I can do about it now I guess, except to trade in the BMW for something cheaper, which I plan on doing because the extended warranty is up at the end of the month.

i feel exactly the same way. i bought my brand new 2003 s2000 back when i was in college. the car is finally paid off (as of last month) but it cost almost $40000 including the interset i paid on it. i promised myself i wont buy another car unless i get a huge promotion or bonus. driving a nice car is not worth it when you think about how it will make you hold back on spending in social situations, like going to bars, hanging out with friends, travelling, meeting new girls… etc,etc.
Isn’t this kind of common sense?

Driving nice cars = $$$$

Yes you should have gone witha cheap, yet reliable car like a honda while you were a student

Plus you paid all that money to get a degree in film production? Don’t get me wrong I hope you succeed, but the odds are not in your favor…and if you fail and don’t end up with a career in film, you don’t have anything to fall back on.
I spent $20k on a 02 wrx. Guy ran a red light and totalled it. Got ALL my money back and some (bought car back, parted out).

Purchased my 2005 STi for 27k. Have put 25k miles on it. Girl might be buying it in a few weeks for 25.5k.

Looks like im making out ok.

As long as you dont regret it, thats what matters.
i also really enjoy cars, and though i in no way spent the amount of (nor had) the money you did i can understand.

turned 19, spent my life savings on a 240sx, sold it to a friend for a small loss a few months after, bought a 87 turbo supra and put about half a grand into repairing and sprucing it up, and used the leftover money from the 240 to buy my gf a mazda protege off craigslist that turned out to be a lemon and broke down in a couple months and is sitting on a friends driveway.

i’m about to turn 20, in community college, and i’m broke cause of this "hobby".

the gf ended up sleeping with my former best friend, (i bought the supra from his brother and he helped me fix it up, along with another friend, who she also slept with later). everytime i look at that car i hate it and love it. last time i saw the protege i felt like smashing it to bits. cars can mean so much more than just a transport vehicle. you may have more money now, but if you were into cars, you must have enjoyed the time you spent driving / maintaining them. cause damn, those are two very nice ones.

Isn’t this kind of common sense?

Driving nice cars = $$$$

Yes you should have gone witha cheap, yet reliable car like a honda while you were a student

Plus you paid all that money to get a degree in film production? Don’t get me wrong I hope you succeed, but the odds are not in your favor…and if you fail and don’t end up with a career in film, you don’t have anything to fall back on.

Great post.

Sure, it’s common sense.

And I have a foot in in the film industry, but thanks for the concern.

And even IF that doesn’t work out, I work for a 5 star hotel company right now and plan on being there for a very long time.

Luckily I still have $ to go out all the time and party…I do want to travel though. It’s just hard with school/work. Hopefully once I graduate I’ll be able to

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