Monkey wrench thrown into my X5 decision...

[rh71]

Originally Posted by PUZZ

I had that thought too. But the flaw in the argument is that after 2 years, I still have a car that's worth something. It's not like I'm buying the MBZ now for $22K and it depreciates down to zero in two years.

I don't know what to do. The sensible side of me that is turning 40 in June who has read the Millionaire Next Door says, write the check and drive it until the wheels fall off. The car nut side says, stay the course and get the X5.

I read Millionaire Next Door... what a bunch of crap... who works that hard and not reward themselves even in the slightest? Save save save... for... death?

[Hunter]

Originally Posted by rh71

I read Millionaire Next Door... what a bunch of crap... who works that hard and not reward themselves even in the slightest? Save save save... for... death?

I have a friend who thinks I am nuts for leasing and leasing BMWs is even dumber. He drives an old Honda, has mid 6 figs in the bank almost owns his house. No cell phone, hates going out to eat, absolutely no wine, an occassional concert and some cds for his ipod his son gave him. He is generous with his kids and does some traveling but I couldn't live like that...it's a question of priorities plus he is afraid he will out live his money.

[DSE]

Originally Posted by rh71

I read Millionaire Next Door... what a bunch of crap... who works that hard and not reward themselves even in the slightest? Save save save... for... death?

Save for my children's education, save for retirement, save for travel and cool vacations, save for emergencies, save for all sorts of things.

I thought the book was great and hit on some fundamental truths. I don't think it means you have to live like a pauper, but you do have to avoid making major mistakes -- and the two biggest ones Americans make are buying more house than they can afford (we're now seeing some repercussions on that front) and constantly buying new cars. I know many folks (including people close to me) who have no money in the bank, a huge mortgage, large credit card balances, and newly leased cars in the driveway.

The excuse for getting a new car is always the same -- the old one needs, or will need, a major repair, which ignores the fact that a major repair might happen once a year and will cost as much as just one monthly car/lease payment on a new car. There is obviously a point of diminishing returns, but a well-built car should certainly last and run well long after the initial leasee has run out.

Of course it is a personal decision as to how someone wants to spend his or her money, and not everyone has the same financial goals. I love cars, and love BMWs in particular, but I now pay cash for my cars and hold onto them for awhile by maintaining them meticulously (and on a schedule more frequent than BMW's). So it is more important to me than others that cars are well built, and my 2001 330i has generally done well so far.

[mtech8]

PUZZ: Did you decide yet?

[DipnX5]

Dump the MB. Electronics in those things are so bad I don't even know how to explain. If your out of warranty or close to running out. Let her go. Just my experience with a e55, ml55, and clk 430.