A word from the wise re: buying / leasing a car (if you do not believe Suze Orman or me, see Jay Len
While everyone around me seems to need a new AMG or new Series 5 or 6 or 7 BMW or TESLA whatever numbering system they use, I am still happy with the old cars which I - wait for it : always paid CASH.
Volvo C 70 - bought in 2001 - IN CASH. Unfortunately totalled in a car accident in 2003, still love this car, as I exited completely unharmed. Jaguar - had been used for 2 years - bought in 2003 from the british embassy to Berlin - IN CASH. Mercedes CL500 - bought in the USA in 2011 - in CASH.
See the point ? Yes, I indulge myself, I love these luxury cars.
But as every good entrepreneur will tell you: The best money is made when you continue to use a product that was written off to 1€ / 1$ and there is no difference in using the older product versus a newer product.
So I keep my pre-computer cars that can still be fixed with screwdrivers and not with keyboards. The difference ? Well 2 litres of gasolineper 100 km perhaps. Make that 4 for the Jaguar.
So ? They are heavy, safe, luxurious, have huge engines, i.e. they run at low capacity when I drive them, giving them very long lifes. And no need to bother to waste time shopping for new ones. And no need to take out epensive full cover insurance after 3 years.
But I am not spendthrift : I love spending money on cars. That is, on my vintage cars and having my personal driver.
So show me a guy in a huge AMG or BMW or TESLA somehow with the world LEASED seeemingly tattooed on his forehead, and I show you a guy in whose financial knowledge I do not believe in. Same for ladies in a "hot" MINI.
https://www.cnbc.com/2018/04/20/suze-orman-when-buying-a-car-people-are-being-dumb-heres-why.html?recirc=taboolainternal
