real wealth?
- Thread starter dsiomtw
- Start date
could be seen as real debt, or nothing at all but a monthly payment. Someone makes a few hundred extra per month and buys a new car... whats your point?
first the Titanium to the Diamond
World's Expensive car with Diamonds, Mercedez Benz,Owner Saudi Prince Al Waleed, Paris Hilton. - YouTube
World's Expensive car with Diamonds, Mercedez Benz,Owner Saudi Prince Al Waleed, Paris Hilton. - YouTube
Wealth = high positive net value of income to debt.
Expensive car = depreciating asset at best or high debt at worst.
Expensive car =/= real wealth.
Expensive car = depreciating asset at best or high debt at worst.
Expensive car =/= real wealth.
That depends on the car. If this was an F40 all of those statements would be false. In this case, the 750li isn't even that expensive, especially when a few years old.
I had a 760Li not too long ago. It cost $7K to fix one year, and 8 months later it broke down again. They wanted $10K to fix it, so I said fuck it and traded it for an Audi A8L. One thing is for sure, these cars are NOT investments by any mean. I do agree that some rare cars can be an investment occasionally such as the F40 and GT40, but not mass produced cars such as 7-series.
yeah, the exception would be rare cars, restored cars:
Most expensive cars sold in auction - Wikipedia, the free encyclopedia
Numerous million-dollar classic cars headed to Arizona auction - latimes.com
Most expensive cars sold in auction - Wikipedia, the free encyclopedia
Numerous million-dollar classic cars headed to Arizona auction - latimes.com
Some expensive cars are assets. There is a subculture of high networth people that are into classic cars.
