- businessglobalParticipant@businessglobalJoin Date: 2005Post Count: 118
We have 2 cars- 1 ute bought from the auctions for 12k, a trailer for moving around things/ reno stuff, tools, plants or whatever needs to be moved about sometimes.
I have a Nissan Pulsar work car 2006- which is prob worth 17k, but I bought it at a car dealers auction at wholesale price $12k as my friend owns a huge car yard in Sydney, so bought it for me and saved me $$$$ with the agreement I would help him find a good property deal in Qld.
I dont think we have ever had a new car? although we could afford whatever we wanted – but I dont believe in depreciating assets, wasting money, or image and I dont care what anyone thinks of me, and this money wasted on ritzy cars could go toward the next reno or subdivision, and then use the profits for some great travels oseas where we take and pay for about 6 relatives to go also with us for a fun family holiday, or we use the $$ for travel, and charity donations, or help relatives that really need it.
We normally buy cars with low km or 1- 2 year old from the gvt auctions or my friend gets our cars for us.
Most of the multi millionaires and a few billionaires I know have normal cars as often they dont wish for people to know they are very wealthy and are very nice down to earth modest people. They have hondas, suzuki vitaras, honda crv, utes, toyota corollas, nissan pulsar, or fords.
One of my wealthiest clients that also has over 80 properties and about 60% owned outright has a 2004 Hyundai Excel full of shoes, shopping, dogs hair, brushes, makeup, and her fav clothes are trackies, shorts/ thongs, sarongs, and jeans- She has a huge IT software company and has sold a few businesses to the States and China.
Normally the ones with all the bmw/ mercedes have huge debts, or they are leased and probably have less liquid cash and equity than most people on this forum anyway.
So you cant ever judge by car this is all ego craptrakkaMember@trakkaJoin Date: 2004Post Count: 257
Couldn’t agree more, businessglobal. We think of our 2000 Daewoo Matiz as a kind of “reverse status symbol” these days. I’m not criticising those who truly value cars and have a passion for them; I think one *should* enjoy the fruits of their labours. But I think those people are a minority – most people are much more heavily influenced by what others think of their choice of car (even if it’s subconscious). We see cars as a tool, and as such, I only value them for their reliability in getting me from place to place in reasonable comfort, but they have no value beyond that.Lalibella wrote:Well ,Ford Phase 4 GTHO Falcon actually. Great to drive to work each day……
My brother just met a guy who bought one in the seventies for 20K.
Has sat safely in his garage since then, rarely driven.
Now worth…..? anyone's guess.
Umm I dont think so.LalibellaParticipant@lalibellaJoin Date: 2007Post Count: 116
Hi Devo, I'm unsure what part you don't believe. The first line was a joke ( google sense of humour)
However the rest, I'm afraid is true. No I wont disclose his address or even city. Its tightly locked away and is not driven or shown hence is never seen at shows or rev head picnics etc.Lalibella wrote:Hi Devo, I'm unsure what part you don't believe. The first line was a joke ( google sense of humour)
However the rest, I'm afraid is true. No I wont disclose his address or even city. Its tightly locked away and is not driven or shown hence is never seen at shows or rev head picnics etc.
Nothing wrong with my sense of humour mate but are you saying a " mate" has a phase 4 sitting in his garage? This i doubt. The handfull that exist are priceless now and all accounted for. Whats the old joke they say about phase threes. It goes something like.
Out of the 300 or so phase threes that where built. Its a shame there is only about 10,000 left in existance.thecrestParticipant@thecrestJoin Date: 2004Post Count: 992
2000 Ford XR8, looove it.
As we know, you don't climb through early levels of investing if you waste money on cars beyond basic necessity.
I started with crap cars which literally doubled in value when I filled the tank, cars I bought had only rego value and I dropped them off at the wreckers when the rego expired, no chance of fixing them, not worth it, easier to find another $150 car.
Now I can buy what I like but still trying to be sensible and thrifty, and the Bank responds by lending to me outside the square because they like thrifty people. So there are some extra advantages.
However, the current vehicle Ford 2000 XR8 with 175K needs replacing with something that has a more comfy ride, quieter, 6 cyl so the kids can drive it, uses ULP, best stereo, auto, low kms, so we can tour all over NSW between properties and arrive fresh (er). Big car loans for fancy cars kill serviceability and Bank credibility. Yeah alright, I really want a 7 series BMW, but a 5 would do, or a big black Chrysler 300C, or just about any big Merc would be fine, but I have to settle for a Fairlane, Statesman or Calais so I can afford to buy another Motel lease to run under management. It's worth the compromise, and not too much gratification is delayed that way.
Cheers & happy motoring.
thecrestShwingParticipant@shwingJoin Date: 2005Post Count: 219
Lashed out and spoilt myself, upgrading from nothing for the past 8 years to a 93 Toyota Hilux Duel Cab Ute.
It's great to be able to use my trailer without having to borrow a car.ErikTyler80Member@eriktyler80Join Date: 2009Post Count: 10JD86Member@jd86Join Date: 2009Post Count: 52
i drive a 97 model v8 ford fairlane ghia
one day soon hoping to upgrade to a ford bf xr8gatsbyMember@gatsbyJoin Date: 2003Post Count: 708
I don't drive I hitch hike. One day I was hitch hiking and a semi trailer loaded full of cars pulled up for me. I raced up to the cabin and the driver said, "I'm full in here but why don't you get into one of the cars on the trailer?" "Cool," I thought! Then we took off. Over the next two hours we pulled over and picked up seven more hitch hikers. "Cool," I thought. Now we all have our own cars! Then the truck driver went 110 km's an hour and we all got speeding fines!
Gats!miikeParticipant@miikeJoin Date: 2008Post Count: 111
Honda Integra VTI-R 98SE
Has a hatchback, but looks like a coupe, good for stuffing shit into it during renovations, has done me well….dreaming of an upgrade to an SR5 with all the extra's …Maybe another property or two and I'll invest in myself lol!!!
…miikeducksterParticipant@ducksterJoin Date: 2004Post Count: 1,674Dazzling wrote:Fascinating to see the responses so far. "Where are all the really flash cars – the Benz's and BMWs ??" Good question giddo… What were people's initial expectations ?? Any more people like to share ?? Cheers, Dazzling "No point having a cake if you can't eat it."
You don't buy the car when you have made it with property investing you lease the BMW from some of the passive income you make.
I had to take a child related break from investing so I am 5 years behind in my plans.Peter CzubryjParticipant@peter-czubryjJoin Date: 2006Post Count: 13
Recentley I sold my 2001 Au Falcon so I can invest in Property.
But My dad has a old Volvo 1982 that I drive and it still goes and goes and goes and goes.
It's pritty hard to run it down.
But I will have to change the oil or something.
petersophiehMember@sophiehJoin Date: 2009Post Count: 27
I have a 93 Mazda Astina 323 – with aircon! But the aircon is broken – last summer I nearly fainted while driving so my darling Mummy has been kind enough to give me her old Ford Falcon, I think it is a 97…
I contemplated buying a new car a few months ago – but would rather put all my money into building wealth at this stage.. maybe by the time I am 32-35 and have my third or forth property I will buy a nice new car but for now I will drive my old piece of crap or the car my mamma gave to mebbinvestParticipant@bbinvestJoin Date: 2003Post Count: 8
Daily Driver: 2007 Toyota Aurion. Got it from the auctions for a great price. Leased it over 4 years, salary sacrificed it and converted it to LPG. All told, very cheap to own and run.
Pride and joy: 1978 Mercedes Benz 450SEL 6.9. Low k's, documented history and in very good condition. A rare car that will not depreciate in value.
Fun Machine: 2004 Suzuki GSX1400. Got it back in 2006 for below market value therefore it's current value is not much less than what it cost me. The only downside is that I don't get time to ride it enough.
Have tried to balance the above with investing (just finished building 3rd IP). I have tried to either get a tax advantage and/or buy well in the first place.
I try not to buy toys that lose money these days. That can be done with cars,bikes,boats etc. Just have to buy the right toy. I sold my car and made a fortune. Actually my profit was more than it cost to build my house in 2001. Crazy. Now i have a very collectible ducati. Had offers on that well above my purchase price. Good to know you can have these toys without feeling that guilt of wasting money.druMember@druJoin Date: 2009Post Count: 15
I have had a few cars over the last couple of years, a Nissan 180sx Type X and a Ford XR6 Turbo. Was quite a car nut and spent a little bit of money on them. Worst decision I made, after realising I could have the chance of purchasing a property with the missus I sold up my cars and everything I had for them.
Glad to say now, I have been car free for 10 months and the missus car is great. It's a little Holden Astra TS and we have had no problems with it at all, cheap to run around and love not owing money on a car! Makes it's hard sometimes getting around without 2 cars but it's well worth the benefits in the end!LinarMember@linarJoin Date: 2004Post Count: 567
We have just had a child led necessity to upgrade to a seven seater. While my heart swooned at the Mazda CX9, we just couldn't justify the cost, despite being essentially retired and completely financially independent. I always thought that when I was in this position I would just buy the car I wanted and not worry about the cost. But I still couldn't splash out. After doing loads of research, we eventually bought a new diesel Santa Fe, because it ticked all the boxes for us. And the only reason we bought a new one was because of the 50% rebate which made the cost the same as a car that was a couple of years old.
I still like to think that one day I will say "money is no object", but, in truth, I will probably always do a cost/benefit analysis. I think it is because we had to be incredibly financially disciplined to get into the position we are in now and that sort of discipline is hard to undo.
KsonyasalMember@sonyasalJoin Date: 2008Post Count: 421
Hi drive a mazda mpv that is ten years old with 200,000. Want to upgrade, its not running very well at the moment and the mechanic said it will probably be expensive to fix. Maybe after my third IP settles next month. cheers sonyaPQMember@pqJoin Date: 2009Post Count: 18
I have a 1990 Diahatsu Mira. I put off buying a new car in favour of paying off my PPOR. Then I put it off in favour of putting deposits on IPs. Now I'm putting it off because I have 4 mortgages and cant afford a new car! One day….