Just a fun post here. I have been a SFR investor for 15 years and now have $2M in rental RE while working a full time career. The cash flow was tight for years it seemed but the snowball of debt paydown is rolling big time now and I'll be able to "retire" in 2 years with enough cash flow to replace my salary. That said, I can't imagine having a car payment and only buy used vehicles. I drove a 1999 Jeep Grand Cherokee (to haul all my rental supplies) for 7 years and the engine blew a year ago with 275k miles. I made a significant upgrade and replaced it with a 2000 Jeep Grand Cherokee with 110k miles and paid $3,600 cash. I don't need the status symbol of a new vehicle nor the monthly payment and living well below my means is my motto. As Dave Ramsey says, "live like no one else today, so you can live like no one else tomorrow".

Account Closed This is what a 'vette should look like:

2014 Aventador. I wish Actually I drive a Santa Fe. Almost like an Aventador. If i close my eyes.

I agree I can’t image having car payments. I drove a Ford Thunder Bird for the longest time and my friends and kids would tease me because to get into the car you needed to crawl through the windows. The car was safe to drive just the doors hinges were going and I needed to prevent more wear and tear to the hinges; I was saving for my first house. Today I still drive a used car (all the doors work) and I now own a multi-family and I’m working towards my next real estate investment.

1999 Dodge Durango. I read an article once that said the new car high only lasts 9 days. I remind myself of that every time I get the urge for a new one.

these posts pop up every year or so. I love them. I drive a 95 suburban with 260k miles. I wouldn't mind a payment on something if I needed to replace this and didn't have the cash. But it still be well used. It's a tool, not an investment. It's ok to pay well have good/cool tools you like, but use them till they quit. They won't gain value. :)

The best marketing on the planet. Now you know my secret.

2014 C7 Corvette, 2012 Turbo Beetle Covertible, 2013 Escalade ESV Platinum, 2013 F-150, 2012 Cadillac CTS Coupe, 2014 Mustang GT, and a 2011 Can Am Spyder.

What kind of car do you drive?

Franky Maslim

Atlanta, GA · Member since 2016 · 22 posts · 8 votes

9y

2014 Honda Accord (brand new at the time). I didn't get the car until my old one was stolen - 2000 Honda Civic, from my car port. I think it's a balance between having an investor's mindset where you acquire assets instead of liabilities, and enjoying life at the same time. I look at "wanting new stuff" as a challenge where I need to acquire assets to be able to pay for the things I want (i.e.: new car or something else). So if the new car payment is around $400-$500 a month, I'd need to acquire some assets that can generate that much money every month, before I go out and buy it.

I don't think it'd be wise to live the rest of our lives penny-pinch, nickel and dime everything. It's nice to reward yourself every once in a while, especially after your hard work and success, to be able to pat yourself in the back and say, "Good job. It wasn't easy, but look at the reward."

The nice thing about this "challenge" is, once the payment is done and you keep the assets, the money keeps coming in, which means you've "permanently" raised your income and your expenses go down. As Grant Cardone says (paraphrased), "Focus on increasing your income, not saving pennies."

What kind of car do you drive?

Most Popular Reply

499 Replies