How much $ would you spend on a daily driver? - Page 4 - PeachParts Mercedes-Benz Forum

fruitcakesa · #46 10-16-2009, 05:42 PM

Quote:

Originally Posted by Junkman

reading how cheap you guys are. I consider my vehicles toys with each bringing different joys. The 78 Datsun Z probably has about 5 or $6K in it and is awaiting a turbo transplant from an 83 along with a modern engine management system. The diesel ram was $10K used & has another 2K in it fixing the incredibly p poor fuel system and front end. It is a perfect example of a 500,000 engine inside a 50,000 mi vehicle. The 85SD was a gift and will soon get apaint job. None have less than 145,000 mi on the clock & all receive whatever they need to keep moving and all have plans for improvements.

Isn't that just a pip, that lovely Cummins lump in a poor Dodge dress. Its a shame but I am glad to have it anyway. I just don't drive it much so it slowly rusts away.
The Benz's are really low dollar cars thus far and so simple to keep running barring unforseen disaster..gulp.
The VW is definitly more complex but again, steady routine maintainence keeps the $/mile lower with the high mpg's

#47 10-16-2009, 05:59 PM

Quote:

Originally Posted by lorainfurniture

True..

However, I did buy my box truck with only 2.9% finance.. 36mos.

And I negotiated for HOURS on the purchase price.

sometimes companies will break their necks to sell you a truck..

My payment on a 40k loan is 1200.00. I figured interest to be about 85 bucks a month..

Sounds like a decent deal. However, I will never, ever borrow money to buy anything that depreciates in value (that includes any vehicle). If I can't (or won't) write a check for it, I don't need it.

ah-kay · #48 10-16-2009, 06:05 PM

Quote:

Originally Posted by Craig

Sounds like a decent deal. However, I will never, ever borrow money to buy anything that depreciates in value (that includes any vehicle). If I can't (or won't) write a check for it, I don't need it.

Let me challenge you. Tell us something you have bought that appreciate in value, Picasso? Or your own dwelling bought 20 years ago and you wrote a check for the purchase price.

I agree with you to a certain extend but it is not something I can keep.

Hatterasguy · #49 10-16-2009, 06:21 PM

Assets are the only thing you should take on debt for. Ie real estate, businesses, etc.

A car is about as far away from an asset as you can get. Well except for a boat.

frankstallone · #50 10-16-2009, 06:22 PM

@Craig

Quote:

I expect to spend about $10-15k on a first car for my kids so they have something reliable enough to last a few years until they can pay cash for a replacement.

X__X I got a $1500 car as my first car, 1992 Mercury Cougar and the transmission died within 2k miles, did you know I was your long lost kid? You never bought me my first car. lol

Quote:

"The point is that few $100 of repairs can easily turn into few $1000 of repairs when you start digging into 25 year old cars. Well, that's the price of driving one of these."

Amen!

@tbomachines - Reallllly? The guy has some awesome cars on there. I really wouldn't have expected that.

@Joseph_Conrad - Good deal =)

@winmutt - Word

@buffa98 - Scott, that sounds about right for a $1k purchase judging by what most people say on these forums.

@ah-kay

Quote:

"I think there is a lot of good cars to be had for < $2K"

W123, W124 cars or just in general?

Quote:

"Are you done now? It has been a while, 10 minutes already"

Ohhhhh ahhh yep, I'm done. hehe

Quote:

"I meant buying cars with good mechanical conditions, reasonally rust free and fixing up the rest. I cannot swap engine or tranny. I have not done it, not yet anyway. I spent less than $12K on all my 5 MBZ, less than the price of a new sedan."

Yeah I have rust on a few areas of my wagon however that is the norm here in the New England area, my next purchase will be something from down south.

@Hatterasguy

Quote:

0% financing is OK, might as well use someone elses money if they are offering it to you for free!

When I can afford it, I'm going to get a Ferrari 575M and drive the living crap out of it. As long as I'm not working I'll drive it rain, snow or sun. Probably even take it fishing and do some light offroading down dirt roads with it.

Cars are ment to be driven. "

NICE!!!!! Hahaha I am all for borrowing other peoples money for 0%! My gf bought a Suzuki SX4 for 0% financing and her family gave in a little to early on price for trade-in/car price. Still a nice car though.

@fruitcakesa

Quote:

The VW is definitly more complex but again, steady routine maintainence keeps the $/mile lower with the high mpg's

Yeah I agree, it almost goes without saying that the regularly scheduled maintenance will help keep cars running longer and more reliably (arguable point I am sure).

frankstallone · #51 10-16-2009, 06:24 PM

Quote:

Originally Posted by Hatterasguy

Assets are the only thing you should take on debt for. Ie real estate, businesses, etc.

A car is about as far away from an asset as you can get. Well except for a boat.

This is sound advice, just about every financial book / guru I have talked to would agree with you on this. Some would go as far as to say the only time to take money out of your house loan is for another piece of property (digression).

Car's are horrible investments but much better hobbies than drugs (ie lol). I like to see the responces people give here on how much they spend. I imagine a lot of the low low purchase prices (that didn't say what car it was) are W123's not W124's however I am sure there are many good deals everywhere.

#52 10-16-2009, 06:33 PM

Quote:

Originally Posted by Hatterasguy

Assets are the only thing you should take on debt for. Ie real estate, businesses, etc.

A car is about as far away from an asset as you can get. Well except for a boat.

I agree completely, borrow money for your first home (or to start/buy a business), pay cash for everything else.

Skippy · #53 10-16-2009, 06:50 PM

Yes I still have the 240D. I just went through my receipts and found that I've put about $1600 into it since then, not counting fuel, insurance, registration, or routine mainenance. The big tickets were when I paid $237 for a new windshield, and the time I had just gotten back from overseas and had no place to work on the car when the starter quit. I had to pay $452 to have a shop change it for me. It didn't help that the car has eaten two $100 batteries in that time (one my fault, the other from sitting while I was gone). Overall I think the car has run about 23 cents for each mile I've driven it, with 3 of that being the original purchase price.

ah-kay · #54 10-16-2009, 06:55 PM

"I think there is a lot of good cars to be had for < $2K"

ALL cars if you look pass the cosmetic and is willing to put some TLC into it. I like cars with bad windows, bad A/C, bad electrics, dents, missing trims, bad paint, crushed fenders, doors etc. As long as the drive train is good and body is straight then I am interested. Most panels can be obtained from a JY and with the same color code if you are lucky. I try to split my w/e on golf and fixing old MBZ. You can make a DD driver out of a sub $2K car easy, it may not win a beauty contest but it will take you from A to B reliably.

Skid Row Joe · #55 10-16-2009, 06:55 PM

Quote:

Originally Posted by kaiz3n

Question: How much would you spend on a daily driver?
Or, in other words, at what price point / vehicle condition would you go from the thinking of, "This will be my daily driver" or, "This is a weekend cruiser / collection car"?

The last daily driver I bought, cost me $45,500.00 tax, title, lIcense & registration. Considering I've been driving it daily for 10 years - it's been worth every dollar - especially since I'll likely drive it another 5 - 10 years.

I'm currently looking for another antique daily driver late '60s - early '70s Honda two-cylinder motorcycle. I'll pay somewhere under $750.00 for it, but would prefer to spend no more than $500.00 for it, tops.

My last daily driver collector's Honda vintage MC cost me $2,450.00 - sold it a year later for $2,980.00. Which is the icing on the cake - riding it a year or more and making money on the deal.

Skid Row Joe · #56 10-16-2009, 07:00 PM

Quote:

Originally Posted by Craig

I agree completely, borrow money for your first home (or to start/buy a business), pay cash for everything else.

I'm old school - I pay cash for everything - including home and investment real estate.

#57 10-16-2009, 07:02 PM

Quote:

Originally Posted by Skid Row Joe

I'm old school - I pay cash for everything - including home and investment real estate.

Even better, I'm still trying to get to that point.

ah-kay · #58 10-16-2009, 07:16 PM

Quote:

Originally Posted by Skid Row Joe

I'm old school - I pay cash for everything - including home and investment real estate.

I envy you. You can get really COOL deal if you buy real estate in CASH. The banks would love you if you can close escrow in 1 day, even though you tell them to come down 40%. You would get a better ROE than with your BRBA and BRKB.

Hatterasguy · #59 10-16-2009, 07:22 PM

Even when you buy property with cash it takes awhile to close. But you can do it in a couple of weeks if the title company and attorney's don't screw around.

Skid Row Joe · #60 10-16-2009, 07:24 PM

Quote:

Originally Posted by ah-kay

I envy you. You can get really COOL deal if you buy real estate in CASH. The banks would love you if you can close escrow in 1 day, even though you tell them to come down 40%. You would get a better ROE than with your BRBA and BRKB.

The last home I bid on, I stated that I could close the same or next day as seller's acceptance - it literally fried their real-estate-agent mind. OTOH, it would be hard to beat my ROI that I've enjoyed on my Berkshire shares since 1985.