I know what you're saying but he was until that event devoid of emotion in the decision....in the end he didn't have to pay they did goodwill and he forked over around $3k. I remember him saying that is less than the differential for the CPO...the guy is a CFA so he looks at it very methodically with the risk etc....I have to admit the older I get, it seems the more risk-averse I become. I wouldn't rule it out, my BMW may be the first and last German car for me, I'm ok with that as I'll keep it forever...I feel more comfortable with Lexus as far as risk/reliability....I think the LS500 will be in my garage, but way down the road...

 

as i said, each to their own, there's no right or wrong... but i think his perspective is off unless he has a 5mil. mortgage on that 6mil. home.

i have to admit, the older i get, it seems the more risk tolerant i become because i don't want regrets and i may enjoy things now that i wouldn't enjoy later if 'later' actually comes...

although it won't actually be 'forever', i hope it is a very long time for you... but i would rather gouge my eyes out than own a car 'forever'.

i'd rather die in debt than wait...

 

I agree 100%. Why someone would want to plan now what they're going to have in 7-8 years is beyond me.

Life is short, live it.

 

Yep......many sedans in the American market, particularly the larger ones, probably won't be around in another 7-8 years. That's why I decided to spring for one now. Among several other factors, we can thank SUVs for that.

 

Buying a $6m house is a much worse decision than buying a new car vs used.

He should of bought a house for $3m and not worry about saving a few grand on a car.

 

I wouldn't know, not too many houses are in that price range in my area, I saw one for $16 and highly doubt anybody would buy it, not even a celebrity. But in Boston, for the right location, that can happen, and he upgraded during the recession. Maybe he considers the property tax to be not bad in MA (around 65k/yr), the same house in Westchester (where he used to live), would be a) much more expensive b) taxes would be more than double

All personal decisions. I'm only observing. If I were wealthy, I would feel I can decide to do whatever I want. I highly doubt I would not get the Mobil 1 ($12) and Pennzoil Platinum ($10) rebates even if I lived in a 6 mil. house. Why pay more than I have to.

 

how can you say what he should have? suppose he's a billionaire... 3M vs 6M for a home is irrelevant. or suppose he can easily afford the 6M house or knows he's going to inherit a load and so any short term 'challenge' will also become irrelevant.
either way, to buy a non-CPO X5 on 'principle' (#becausenewcarscosttoodamnmuch ) in his situation seems ludicrous to me, but again, each to their own...

 

lol because there's a value to your time. i don't 'clip coupons' because it's not the best use of my time. sure i'll take a discount if it's right under my nose and requires little effort, but i weigh it in terms of incentive vs time.

 

Totally hear you--I used to not do anything if an offer were < $100--but I test drove a Passat diesel and Subaru WRX Limited for only $25 lol each. BMW 7 was a Thomas Pink $100 gift card--um, can't order anything for only $100. Audi A6 $100. Opened Key Bank account for $400--I can assure almost everyone on this forum, it actually wasn't worth the $400 because of the aggravation (and it's taxable).

but for real, if I won the lotto, yes, might as well get a new LS500 right away, enjoying it now instead of in 2022 or 2025 has a value. But as I go to change my oil, no way I won't do the $12 Mobil 1 and $10 Pennzoil rebates hahahaha seriously, when a jug is $25, that is such a significant percentage I can't pass it up. But they make it easy too, simply upload your receipt to the web, not bad, seriously...so it's not the $ amount, but the %....

 

the non-CPO was based on price, and again, he's a CFA so there is a decent understanding of time value of money and risk as well. I don't remember the amount, but it may have been $7,000, between a CPO and non-CPO. I remember he ended up paying $3k for the new motor and he said it was less than the CPO amount. Oh yeah forgot to mention, CPO would NOT have covered it anyway, because they claim someone put stop leak into the cooling system. I think my buddy had a pretty strong case it wasn't him based on he doesn't recognize anything under the hood and would not know where to put it...

 

I just couldn’t live my life that way, sorry lol.

 

Can part of these responses get started under a new "Should I be frugal, smart, living-my-life-in-the-moment, or a be cheap bastard" with my money ?

I was checking for new info on the LS and it's a Financial Planner 100 topic

 

Yeah, I agree...back to the LS500...

 

I think the car looks like a Japanese interpretation of the Batmobile. Looks good but quite dissapointed with the taillights, as with all the LS; they just look so "old fart."

 

Again, the stock markets and where I live real estate are both at historical highs, this should be good for high end car sales imho, sentiment should play a part in whether people are willing to spend 80k+ for a vehicle. I'd be curious if the LS500 goes for list, or is it heavily discounted, will they be in stock or purchased off a list...I can't imagine though someone can correct me if I'm wrong, that when the 2007 LS came out, there was much fanfare....this may be different in a big way