Does the basement living luxury car owner really exist?
04-30-19, 07:10 PM
#62
Lexus Fanatic
Thread Starter
So you both come in here. And you both get personal. I am sorry to both of you if you think this thread had ulterior motives. It does not. If you are offended, you should not be. I consider you friends on this forum. It’s just a discussion.
From what I have learned in here. It appears to be just a Canadian thing, not available in the USA. I wonder why.
From what I have learned in here. It appears to be just a Canadian thing, not available in the USA. I wonder why.
04-30-19, 07:14 PM
#63
Lexus Fanatic
I consider you my friend too on this forum, but we've all talked long enough that I know your opinions on this subject...and the connection from "84 month loan" to "the person who uses that must live in a basement" is really clear.
04-30-19, 07:16 PM
#64
Lexus Fanatic
Thread Starter
04-30-19, 07:18 PM
#65
Lexus Fanatic
The implication is that sort of financing would only be used by "poor people" (your words) who can't afford to pay for a decent place to live (I.e. they live in a basement) but yet still want a luxury car and prioritize that over other spending in their lives that would be more "legitimate" in your opinion.
You have made your opinion that people that "need to" finance or lease a luxury car don't deserve a luxury car very clear
You have made your opinion that people that "need to" finance or lease a luxury car don't deserve a luxury car very clear
04-30-19, 07:25 PM
#66
Lexus Fanatic
Thread Starter
The implication is that sort of financing would only be used by "poor people" (your words) who can't afford to pay for a decent place to live (I.e. they live in a basement) but yet still want a luxury car and prioritize that over other spending in their lives that would be more "legitimate" in your opinion.
You have made your opinion that people that "need to" finance or lease a luxury car don't deserve a luxury car very clear
You have made your opinion that people that "need to" finance or lease a luxury car don't deserve a luxury car very clear
04-30-19, 07:27 PM
#67
Lexus Fanatic
Okay then. Onward we go
04-30-19, 07:31 PM
#68
Lexus Fanatic
Thread Starter
04-30-19, 07:32 PM
#69
Lexus Fanatic
84 month financing has existed for some time now across many manufacturers.
04-30-19, 07:38 PM
#70
Lexus Fanatic
Thread Starter
Luxury branded vehicles to me always were viewed as hard to obtain.
Last edited by Toys4RJill; 04-30-19 at 07:43 PM.
04-30-19, 07:42 PM
#71
Lexus Champion
Given the nature of the ridiculous prices of Toronto real estate, there are very few "poor" basement dwellers. This is more a case of "co-housing" and shared housing to reduce living costs and free up disposable income. Sounds like maybe Jill intended that as the meaning of this thread.
Young people didn't grow up with the stuff that's being talked about by old people here. We're awfully judgemental about telling off the younger generation about how they spend their money. That's new now isn't it? Lol.
The younger generation does not have any hope of owning real estate inside the metro T.O. area at this point so they're spending their money elsewhere. If you can convince a millennial to buy a $1K smartphone, you can certainly convince that person to "invest" in a $60K BMW and spend the next 7 years paying for it.
What happens at the end of that 7 years, we don't know. Looks like you can finance a X2, or a 5 series from BMW Canada if you put down $2500 or so and accept that your payments are around $700/month CAD. Maybe BMW Finance sees a constant cycle of upgrades and re-finance for solid high credit individuals living a good life and buying the "next thing".
Nobody said you have to keep the car for the whole seven years. You just trade it back in and keep on going. It's the new mentality. We can't judge because we're not in their situation. Or their parents' situation.
Young people didn't grow up with the stuff that's being talked about by old people here. We're awfully judgemental about telling off the younger generation about how they spend their money. That's new now isn't it? Lol.
The younger generation does not have any hope of owning real estate inside the metro T.O. area at this point so they're spending their money elsewhere. If you can convince a millennial to buy a $1K smartphone, you can certainly convince that person to "invest" in a $60K BMW and spend the next 7 years paying for it.
What happens at the end of that 7 years, we don't know. Looks like you can finance a X2, or a 5 series from BMW Canada if you put down $2500 or so and accept that your payments are around $700/month CAD. Maybe BMW Finance sees a constant cycle of upgrades and re-finance for solid high credit individuals living a good life and buying the "next thing".
Nobody said you have to keep the car for the whole seven years. You just trade it back in and keep on going. It's the new mentality. We can't judge because we're not in their situation. Or their parents' situation.
04-30-19, 08:12 PM
#72
Lexus Fanatic
No harder to obtain than any other car, the cost of the product is just more.
04-30-19, 09:07 PM
#73
Lexus Fanatic
Thread Starter
Having a hard time trying to find US past stats, but I am sure they are similar to the Canadian stats. 1990 luxury brand market share was 3% of all Can sales. 2017 luxury brand market share was 12%. Changing times.
04-30-19, 09:23 PM
#74
Lexus Fanatic
Thread Starter
Given the nature of the ridiculous prices of Toronto real estate, there are very few "poor" basement dwellers. This is more a case of "co-housing" and shared housing to reduce living costs and free up disposable income. Sounds like maybe Jill intended that as the meaning of this thread.
Young people didn't grow up with the stuff that's being talked about by old people here. We're awfully judgemental about telling off the younger generation about how they spend their money. That's new now isn't it? Lol.
The younger generation does not have any hope of owning real estate inside the metro T.O. area at this point so they're spending their money elsewhere. If you can convince a millennial to buy a $1K smartphone, you can certainly convince that person to "invest" in a $60K BMW and spend the next 7 years paying for it.
What happens at the end of that 7 years, we don't know. Looks like you can finance a X2, or a 5 series from BMW Canada if you put down $2500 or so and accept that your payments are around $700/month CAD. Maybe BMW Finance sees a constant cycle of upgrades and re-finance for solid high credit individuals living a good life and buying the "next thing".
Nobody said you have to keep the car for the whole seven years. You just trade it back in and keep on going. It's the new mentality. We can't judge because we're not in their situation. Or their parents' situation.
Young people didn't grow up with the stuff that's being talked about by old people here. We're awfully judgemental about telling off the younger generation about how they spend their money. That's new now isn't it? Lol.
The younger generation does not have any hope of owning real estate inside the metro T.O. area at this point so they're spending their money elsewhere. If you can convince a millennial to buy a $1K smartphone, you can certainly convince that person to "invest" in a $60K BMW and spend the next 7 years paying for it.
What happens at the end of that 7 years, we don't know. Looks like you can finance a X2, or a 5 series from BMW Canada if you put down $2500 or so and accept that your payments are around $700/month CAD. Maybe BMW Finance sees a constant cycle of upgrades and re-finance for solid high credit individuals living a good life and buying the "next thing".
Nobody said you have to keep the car for the whole seven years. You just trade it back in and keep on going. It's the new mentality. We can't judge because we're not in their situation. Or their parents' situation.
04-30-19, 09:30 PM
#75
Lexus Fanatic
iTrader: (20)
Even if they aren’t making informed decisions, who cares? What business is it of ours?
The point is this is self elevating on the part of the people who post these types of threads. “Look how stupid these people are”, in other words look how smart I am. It’s tiresome. If people want to finance cars for 84 months...who cares.
The point is this is self elevating on the part of the people who post these types of threads. “Look how stupid these people are”, in other words look how smart I am. It’s tiresome. If people want to finance cars for 84 months...who cares.
Same with a lot of other thread like how ‘stupid’ people are to buy trucks, suvs, sports cars, electrics, whatever, when supposedly more ‘sensible’ choices can be made.
I believe part of freedom is the right to do stupid things.
Do gooders like to crush freedom by shaming, regulating, lobbying, bullying, etc.
When i leased a g90 coming from a ‘perfectly good’ 3 year old jeep grand cherokee that had 1 yr left to finance, that may to many be completely stupid, financially, whatever. I have no regrets whatsoever.
and guys like dave ramsey provide a lot of sensible financial advice, especially for those in bad debt, but i can’t live by all his strict financial ‘rules’, it’s way too constraining.