Mid 20s Guy - How Should I Pay for My Investment Vehicle (Loan Vs Savings)

Save Medicare on 08/04/2018 - 09:12
Last edited 08/04/2018 - 10:01

I'm a guy in my mid 20s in a grad job in Sydney.

I have $108.70 in the bank but my pay day is Wednesday and I've recently cleared my $5000 overdraft account after working 9 weeks of extreme overtime, taking extra shifts so I'm pretty much on 0 with no additional liabilities.

Unfortunately my ability to take on extra shifts, work weekends and make extra money will evaporate once I rotate positions within the company in a week's time .

I'm thinking of upgrading from my 1998 toyota camry to something more high yield like a mazda mx-5 (let's say, $30,000 2-3 years old) in 8-9 months time (when I turn 25 so insurance won't be so expensive). My parents keep talking shit about my camry saying that it's not safe to keep driving it and also it looks bad and reflects poorly on me (what? who cares? who's even looking? but if i'm going to buy a new car I'm going to buy a fun one)

My annual salary is $51000 post-tax and there aren't really any signficant deductions. In the next 9 months I'll make $38.2K post-tax. If I'm looking to buy with cash I'll only have $8.2k to spend for the rest of the year, = approx $900 a month, which, factoring in rent and bills and fuel and food and a small amount of fun things is probably isn't enough to live on.

Does anyone have any quick tips on how to save more money in 9 months? Would it be worth putting it into shares? ETF?
Should I just give up on the notion of buying it outright and live a bit more relaxed and take out a loan when I'm ready to buy? My parents have just paid for six years of uni so I don't want to ask them for anything any more.

What are the pros and cons of saving up for an investment vehicle vs taking a loan out?

Thanks

EDIT I should also add that after seeing crash test videos of a 98 corolla and a 2015 corolla I'm pretty set on not dying because I cheaped out - https://www.youtube.com/watch?v=_ttkVRwOtVE

Automotive Car Loan

Comments

  • [Deactivated] on 08/04/2018 - 09:15
    +97

    Lol

      • Slippery Fish on 08/04/2018 - 09:30
        +70

        Buy a 5k Camry you troll

        • fossilfuel on 08/04/2018 - 12:03
          +45

          @Save Medicare:

          The problem is just to find enough money to buy one

          If you don't have enough money to buy one, then don't buy it. Vehicle price will decrease over time.

          If I'm looking to buy with cash I'll only have $8.2k to spend for the rest of the year, = approx $900 a month, which, factoring in rent and bills and fuel and food and a small amount of fun things is probably isn't enough to live on.

          Your reasoning above should be enough to convince yourself not to buy the Mazda.

          Buy something you can afford, not what you like. If you're concerned about safety, a second hand Mazda or Toyota is more than adequate based on your financial situation. Unless you or your household income is pulling close to 6 figures, you should not be thinking about purchasing a new car.

        • Quantumcat on 08/04/2018 - 15:58
          +23

          @Save Medicare: girlfriend? Do you really want to get used to a certain lifestyle, then if she dumps you have a mountain of debt that you can't get out from underneath of suddenly and have to severely cut back on every area of your life? Maybe losing the house you live in, etc etc? No fun.

        • Save Medicare on 08/04/2018 - 17:50
          +20

          @Quantumcat:

          This is actually really good advice and while I'm quite optimistic that my living situation will not change you're absolutely right in that I shouldn't take on additional liabilities which, while I might be able to handle them now, I would not be handle if we were to break up.

          Honestly thanks a lot

        • magic8ballgag on 09/04/2018 - 09:03
          +2

          @FeRGan:

          How is anything fun?

        • RockyRaccoon on 09/04/2018 - 09:52
          +6

          Comrade - save the money and the planet catch public transport like the rest of the soviet does.

          Unless of course you are part of the politburo

          On a side note, your comrade sister will probably dump you after you buy it, thinking you have been converted to the non green establishment.

        • Munki on 09/04/2018 - 10:21

          @FeRGan: You have sex in it! With or without a partner!

        • Slippery Fish on 09/04/2018 - 10:21
          +1

          @Save Medicare: lol I gave you the best advice on the thread, you can't afford it. Buy a 5k Camry you troll.

        • Tiggrrrrr on 09/04/2018 - 19:41

          @FeRGan: Lube up the exhaust pipe…

        • RocketSwitch on 10/04/2018 - 09:59

          @RockyRaccoon: Might as well pay for a car with the price of public transport. Almost $10 a day.

        • RockyRaccoon on 10/04/2018 - 10:29

          @RocketSwitch: Whats money when its a good investment in the soviet. (see their Avatar)

        • RocketSwitch on 10/04/2018 - 10:51
          +1

          @RockyRaccoon: Haha

        • alikazi on 10/04/2018 - 14:20
          +1

          @Save Medicare:

          I am single, no kids and I make more than you still I don't save enough every month to spend on a car. Most of my expense is food. Even I wouldn't dream of buying a $20K+ car right now. There's insurance, maintainence, unforeseen fines and accidents. How can you realistically afford to afford a $30K car? You have not learned your lesson from having a 5K debt.

  • garffi on 08/04/2018 - 09:37
    +65

    I've never heard of an investment car.

    • Almost Banned on 08/04/2018 - 09:46
      +43

      You clearly don't spend enough time on these boards.
      https://www.ozbargain.com.au/node/273269
      https://www.ozbargain.com.au/node/302390

      • garffi on 08/04/2018 - 10:31
        +6

        Lol, I stopped reading after OPs' insisting cars are a high yield investment.

        I should've meant to say I've never heard of Mazdas as an investment car. Unless they're buying some limited edition vintage Rolls Royce etc.

        • zuuutoootuuu on 08/04/2018 - 18:29
          +3

          Mazda FD3S RX-7 Spirit-R, up up and away, they've doubled in value in the last 3 years.

        • Munki on 09/04/2018 - 10:22

          @zuuutoootuuu: That car along with the Supra are the two cars I would say have aged extremely well.

        • secondstory on 09/04/2018 - 12:42
          +2

          I think op was just making joke to an old reference because he knows the car he wants is a little less affordable but still wants it. It's doable either way so he's just asking for advice on financing it.

        • krisspy on 09/04/2018 - 20:40

          @Munki: R34gtr is about the same price as the new GTR used now

        • Munki on 09/04/2018 - 20:42

          @krisspy: are you serious? Lol man…

          Actually I'd say the r34 and Silvia s15 have aged quite well too.

        • krisspy on 09/04/2018 - 20:52

          @Munki: just did a quick search on cars ales to confirm. Cheapest 34 GTR is $75k for 173 thou kms, 2009 GTR is $78k for 87 thou kms

        • abuch47 on 09/04/2018 - 23:40

          @krisspy:

          Cheapest r34 in 2010/11 was 35k for less than 100k km. It was probably a POS but I still should've bought it.

  • Ameowzon on 08/04/2018 - 09:41
    +24

    When I was your age, I sold my Honda Accord for a local (Malaysian) car. To this date, it was my biggest financial regret. There's really no need to sell a car if it can take you from A to B. Cars NEVER make you money. The more expensive the car you buy, the more you will LOSE in time. Don't do it. Fine, maybe your 98 Camry is broken now. Spend $5000 on a 2005 Camry, and you'll have saving tonnes month in, month out, and eventually, you'll have more to spend on what WILL make you money, real estate. Yes, I just moved here. I bought a 2003 Camry for $6000 in 2014. Today, in 2018, if I was to sell it, I can probably sell it for $4000. I lose $2000. But had I bought a 2013 Camry in 2014, it would have cost $25000. Today, if I was to sell it, it's gonna be half that price. I'll be losing $10000!

    Remember this, cars, you lose money, real estate, you make money. Cars will NEVER make you money.

    • [Deactivated] on 08/04/2018 - 11:09

      Some cars do make money. It’s just the same old laws of supply and demand. Some just released new cars can be sold at a profit, a lot of classic cars can be sold at a profit.

      • DonWilson on 08/04/2018 - 17:19
        +12

        But a regular 2-3 year old MX-5 is not a part of that market.

      • Scrooge McDuck on 08/04/2018 - 17:40
        +3

        I bought a Mk. 1 MR2, enjoyed it daily for years and quadrupled my money on it after it was written off by a fail to give way, insurance payout and sale of the wreck.

        RIP Mister Two. :'(

    • dcep on 08/04/2018 - 11:33
      +7

      so you sold a honda to get a proton or perodua ? Hahahahahaha !!! Glad you learnt your lesson.

      OP looking for fun drive as hobby/interest , so it's not just A to B , you can't have fun in camry going on a hill run without crashing.

      cars never make money but can put a smile on OP's face during his spirited driving

      real estate is not a guarantee on making money, you'll get burn too, depending on market boom bust timing - Eg. Brisbane CBD apartments resell for less than bought 10 years ago.

      • [Deactivated] on 08/04/2018 - 13:56
        +1

        I got a Perodua Axia, nothing wrong with it.

        Great little thing to run around town in.

        Fingers crossed nothing ever hits me though.

        • ozbking on 09/04/2018 - 00:18

          Omg. Just had my experience of Perodua with uber in Malaysia. They're one of the shittiest cars I've been in as a hire car, and I've travelled to places like Jordan and Cuba!

        • [Deactivated] on 09/04/2018 - 00:47

          @jimmytseng:

          Nah it's fine. The Axia is a rebadged Toyota Ayga.

          For the 20 minutes a week I need to drive, it's sufficient. Got 3,000km in the past year on it and most of that was a trip to Singapore the other week.

    • thetrain on 08/04/2018 - 12:33

      If you're paying $25k for a 2013 Camry in 2014 you're doing it wrong. Should be $18-$20k

      But I agree, a new car will never make you money (except classic/collectible cars).

      • [Deactivated] on 08/04/2018 - 18:17
        -1

        Not true

    • Hybroid on 08/04/2018 - 13:23
      +5

      Cars absolutely can make you money in certain cases so the 'NEVER' clause us incorrect.

      However, what you didn't mention is for some people, a car is not just a tool to get from A to B. Some want extra features and luxury etc to enjoy long road trips or need utility options or or or… Prestige, looks and brand as superficial as it is, is also important to some people/cultures. There's also more to a car than just avoiding depreciation.

      Your analogy of losing $10k in depreciation on a car could be countered by arguing some people spent thousands annually on drinking or partying or concerts/events/shows which is all wasted money too. To each their own on what is deemed good value.

    • sleet on 08/04/2018 - 18:56

      Cars don't make you money directly. I was always a big believer in public transport. Getting to school, uni, work via public transport especially since I live far away from these places.

      After buying a car, I realised how useful it is - as transport. I can get to work quicker, sometimes even more reliable than public transport. So going to work, I can make money.

      So while a car isn't necessarily an investment, I agree. It indirectly helps me make money. I also agree, that you don't need a new or expensive car, as you said above.

      • DonWilson on 08/04/2018 - 19:42

        That's not making you money, that's costing you money and buying you time.

        It's like getting a cleaner in every week. It saves you time and effort. It costs you more money.

        • sleet on 08/04/2018 - 21:02
          +1

          So what about childcare? It's like spending money to put your child in childcare so two parents can go to work Or one parent stays home and make less overall compared to two parents working.

          You are spending money to make money. Buying a car doesn't make money DIRECTLY is what I said. Hope you can understand that :)

        • omghi on 09/04/2018 - 22:56
          +2

          Sure you get paid for turning up to work but do you get paid more because you drive to work vs taking the train? Do you get paid more because you drive to work in a $25k car vs a $5k car?

          And yes, there are obviously jobs where using a private car forms part of the duties and therefore having a car might help you get paid at all but the OP doesn’t mention working in such a role.

    • jno on 08/04/2018 - 21:57
      +1

      As much as you are right not everyone buys cars on statistics and how much money it loses blah blah some people like you know… Buy nice cars because they enjoy it or cars is their hobby/passion. In the end we all die and that money you have been saving for a rainy day isn't coming with you, it's about balance in life.

      Now i dont agree or not agree with OPs post.

    • Oz8argain on 09/04/2018 - 11:27
      +1

      stop reminding me that my 2013 camry lost half of its value. and I know it will never break so I can't get rid of it

  • bumheadboi on 08/04/2018 - 09:53
    +3

    Check out the older MX-5's they can be quite cheap and come with pop up headlights. look dope too

    • Save Medicare on 08/04/2018 - 09:59

      NAs are cute but they cost around the same as NBs - $8k or so for sub 200k miles.
      Either way it wouldn't really fix the problem which is "old car, probably unsafe in a crash, parents hate it"
      I guess the responsible alternative would be a 2010+ corolla/mazda 3 etc but I want it to be fun!

      • Dubsys on 08/04/2018 - 17:13
        +3

        mid 20's and letting parents make your life choices for you lol

        • Save Medicare on 08/04/2018 - 18:07
          +33

          Hey man have you ever tried being asian

        • owwreally on 08/04/2018 - 21:11
          +26

          @Save Medicare:

          Yeah for a week or two, wasn’t for me

        • Munki on 09/04/2018 - 10:26
          +2

          @Save Medicare: I was married at 25 and left the house. Am Asian. Don't try that shit.

          Also, as someone who purchased brand new before, I'd recommend not to. Complete waste.

        • WeeDeePotato on 09/04/2018 - 21:00

          @Save Medicare:

          Tell them to pay for it then.

          Otherwise, save up a while and outright buy a safer used car around $5-10k

      • captaincabinets on 09/04/2018 - 01:00
        +2

        200k miles? C'mon man we're in Australia.

        I have a MX5 NB. Bought it for $7.5k at 125km with 3k recently spent on service and parts. It's a nice car but we got Auto so my gf can drive it too so I don't feel like it's a 'real' sports car. I'll probably get a GC8 WRX manual this year as a second car so that doesn't matter much.

        Anyway, why do you have to get the ND? NC hard top looks like a new car still if that's your concern. I love sports cars but they depreciate horribly. I get the excitement of getting your first 'real' car, just don't rush into it and pay too much. There will always be more cars.

      • blawler05 on 09/04/2018 - 08:55
        +1

        Then get your parents to buy it for you. Its their problem not yours.Or stick with the car you got and save the money.

      • browncar on 09/04/2018 - 12:21

        You won't be able to put the roof down, but there are plenty of hot hatches available used for 15-25k. Reliable and generally well-regarded cars like the Ford Focus ST and Volkswagen Golf GTI are all within budget for 2-3 year old examples. The power delivery of these turbocharged cars makes them arguably more fun day to day than an MX5 would be too. The Subaru BRZ / Toyota FT86 twins are probably worth a look too.

        The current Suzuki Swift Sport is well regarded and fits your budget brand new, and the latest Polo GTI is only slightly out of budget before negotiation. Up to date safety technologies and a warranty are sure to tick boxes as far as your family are concerned

      • bargainjargon on 09/04/2018 - 19:53

        I picked up an NA with 260k kms on it for under $3k. Paint was fading but looked great after I polished it. And it drove well enough. Took it to MX5 Mania in Dural and it drove even better. I don't think you need to settle for sub 200k kms. And sure, older car. But tell your parents you'll be a better driver when driving it so that should even things out. Can't imagine the ND is 10 times more fun than a cheap NA. You can buy something boring and safe with the remaining cash.

  • mbck on 08/04/2018 - 09:58
    +9

    Lol investment car. An investment car would be something that appreciates in value. Not a "high yield Mazda mx5"

    I know this is not the advice you seek, rather you want ways to earn money to burn on this mazda. But you're better off finding a second hand car thats got good history and much much cheaper.

    Makes smashed avo a joke Lol

  • pantsparty on 08/04/2018 - 10:00
    +1

    Let’s be honest. This is not an investment vehicle. The real question is how can you get more money so you can piss it away on a sports car which is not practical but you want anyway. If that is the case, how about changing jobs? There is surely room for a new job with a pay rise if you are mid 20’s earning $50k. Or given you are young and probably less risk averse then myself, Bitcoin?

    Sounds like you may need to take out a loan, or buy a cheaper car. The choice is yours!

    If you can forget about getting a fun car just buy a new corolla on one of the Toyota 2.9% finance deals. It will last you for a long time if you look after it.

    • Save Medicare on 08/04/2018 - 10:09
      +1

      My gross before tax is set to rise approx 8-10k per year for the next 4 years (looking at the award) and my education isn't really useful for any other job.

      I agree that buying a sports car is completely stupid but what can I say, I want it. In a few years time when I have more money to play with there will be kids and other obligations. Maybe the alternative could be a used 86 or something but i'm not too keen on the back seats and added practicality.

      • Quantumcat on 08/04/2018 - 10:36
        +3

        I want it.

        It's normal to want things you can't afford yet. Set yourself up properly for the future and you can enjoy it in your thirties. If you get a habit of wasting money now and you'll never be able to afford anything nice in the future. So you want to be the grasshopper, or the ant when winter comes?

        • Save Medicare on 08/04/2018 - 17:41
          +1

          Honestly I kind of want to be the grasshopper. It feels like I've spent my life studying to get into my high school and then my uni course and then to pass my uni course, and I feel before too long I will be bogged down again in study but now with real adult things like kids mortgages on top of that.

          Will I have to wait until my 40s and 50s until I can have nice things?

        • ShannonN on 08/04/2018 - 20:44
          +1

          @Save Medicare:
          "and I feel before too long I will be bogged down again in study but now with real adult things like kids mortgages on top of that."

          So you feel or have been pressured to expect that you will HAVE to own a house you probably don't really need except to show off how hard you work? and MUST have kids and still more study?

          WTF? Do you have independent thoughts or life away from your parents or culture, or G/F influence?

          Who told you you must have kids? they're not necessary at all you know, same as you owning a house and accompanying up to 25 yr mortgage, not really necessary, rent for ages till you mature and are stable in one location or state, If you move companies and have to relocate a mortgage is a burden

          Perhaps you need to sit down and take stock of ONLY what YOU want to do in 5 yrs, 10, 20 yrs from now and this will empower YOU not others need to make the decisions on your life and needs wants and activities.

          If the family culture is crippling you either man up and become an (Independent) Australian of Asian parentage or cower under Asian cultural traditions rule and go back to Asia proper where you'll fit in fine as the stereotyped dutiful Asian son and studious person.

          I wish you well in the future it's about way more than a choice of car

        • Save Medicare on 08/04/2018 - 20:55

          @ShannonN: Kids and house and real proper wealth from a well-paying job are definitely things that I want for myself, independent of cultural expectations. You may say that I've been brainwashed/brought up to want these things, but these are all common aspirations for most people in our society.

          I've only had my job for 9 weeks and the pay isn't that great, but it gets better every year and I'm on track to something better in the future. That something better (ie forever job) would be in six to ten years time, and in the meantime I know I'm going to have to suck it up and study hard and pass exams if I want to get there.

          I know that these responsibilities and burdens lie in my future, but I also know that they don't start for another 1-2 years. That's why I want to know if I can do some nice things for myself in the meantime, and still come out OK financially.

        • ShannonN on 08/04/2018 - 20:57
          +2

          @Save Medicare:
          Def brainwashed my friend get back to us in a few years when you lose your g/f/wife who takes the kids the house the car etc and tell us again these are the things you want and are good

        • Zedsdeadbabyzedsdead on 08/04/2018 - 21:09

          If you get to 40 or 50 and have reasonably good health then you have done well.

      • kiitos on 09/04/2018 - 15:01

        What did you study? Curious why it wouldn't be transportable.

      • spook290 on 09/04/2018 - 15:17

        What kind of job that is covered by an award will raise 8k-10k per year?

        • spook290 on 11/04/2018 - 15:17

          @Save Medicare: Arhh makes sense, looks like you will have the income to support it, even if it is a year or two away.

          I'm still driving my 10k car I bought 5 years ago despite my salary increasing significantly because cars are not that important to me, i'm mid 20's and want to make a dent in my mortgage.

          If something is important to you, and helps you with an extremely stressful job and you are not significantly impacting your standard of living significantly then go for it.

          You need to have a release and something that makes you happy, otherwise its work, sleep, eat, survive.

  • Ryanek on 08/04/2018 - 10:00
    +9

    Buying a car that is 80% of your annual salary is loco ese.

    • Save Medicare on 08/04/2018 - 10:02

      I'd be buying used so around 60% of my take home but I see your point

      • blawler05 on 09/04/2018 - 08:58

        That is better. My general rule is the car should be no more than 50% of your annual salary.

        • trapper on 10/04/2018 - 18:57
          -1

          Not in a million years would I blow 50% of my annual salary on a car! lol madness

        • blawler05 on 11/04/2018 - 09:15

          @trapper: That is my general rule. And I would happily spend upto 50% of my annual salary on a car. Why is it madness. ? My last car was 50% of my annual salary at the time. I kept it for 7 years. It cost me a total of 7% of what I earnt over those 7 years. I would have kept it longer, however we decided we did not need two cars after we go married, so I sold it.

          If you change cars regularly then sure. But I buy a car with an expectation to be driving it over a number of years. So Why not? Why should I put up with a shit box that I dont like?

  • chefgoldblum on 08/04/2018 - 10:02
    +6

    le troll xDD

  • chumlee on 08/04/2018 - 10:07
    +6

    Why aim so low?

    Buy a new Maserati

    • Save Medicare on 08/04/2018 - 10:10
      -2

      Italian reliability and italian price.

      I feel like a mx5 is a bit of a stretch but not entirely unreasonable?

      • chumlee on 08/04/2018 - 10:17
        +8

        It was sarcasm.

        Live within your means is the only sensible advise i can give you.

        Financial decisions you make in your mid 20's can set you up for a comfortable life in the future or a living pay day to pay day life

      • Oz8argain on 09/04/2018 - 11:29

        Honda NSX, there's your reliability

  • Hardlyworkin on 08/04/2018 - 10:10
    +1

    It sounds like it would be a lot cheaper to say to your parents thanks a lot for your help though it's about time I cut the cord. You're in your mid twenties and thinking about safety and what your parents think? Go do something stupid and fun, that's what your twenties are for!

  • Quantumcat on 08/04/2018 - 10:34

    Just buy a newer second hand car that is very reliable. There's no need to buy a new car. That's a huge waste of money. Like others have said spend your money where it can make you money, don't throw it away. You should be setting yourself up for the future, not throwing what little money you have down the drain.

  • teacherer on 08/04/2018 - 10:34

    Investment car? Do you know what that term means?

  • Cyphar on 08/04/2018 - 10:38
    +2

    Uh…. lol.

    Dafuq is up with your parents? Are you Asian?

    • Save Medicare on 08/04/2018 - 15:46
      +3

      Yes

      • Cyphar on 09/04/2018 - 14:32
        +2

        That explains the whole "disgrace" thing. It's always about keeping up appearances. They are probably disappointed you aren't a doctor

        • Save Medicare on 09/04/2018 - 20:21
          +4

          Nah. They're probably disappointed even though I'm a doctor

        • Cyphar on 10/04/2018 - 02:05
          +3

          @Save Medicare: Oh, well yeah. A doctor that earns $51k is doing something wrong.

        • Jaystea on 10/04/2018 - 23:33

          @Cyphar: You're showing how little you know about the medical profession and the monetary aspect of it.

        • CocaKoala on 11/04/2018 - 12:32

          @Save Medicare: That's hilarious. :)

        • idonotknowwhy on 11/04/2018 - 16:30

          @Save Medicare: not a doctor of medicine then*

        • icejester on 22/04/2018 - 01:50

          @idonotknowwhy:

          Grad doctors only earn around 60k first year in NSW last I looked and slowly climb from there

        • icejester on 22/04/2018 - 01:54

          @Save Medicare:

          Save the money I'd say
          Honestly no one really looks at your car if you work in the hospital
          Ain't no body got time to compare cars in hospital - everybody running around trying to save people

          Invest the money wisely and get a nicer car 3 years down the track

          Camry, MX5, toyota 86, Honda Accord - they're all in the same bracket anyway

          When you get into a training program, reward yourself with a decent car - Lexus seem quite attractive these days :P

          If your parents want you to look nice tell them to chip in for your car. Otherwise they can stop giving bad financial advice

        • idonotknowwhy on 22/04/2018 - 08:03

          @icejester: strangely, a mate of mine did look at the cars. He saw 3 mercs and a Lexus. He waited to see who drove the Lexus, and was relieved that it wasn't his surgeon. He was 19 at the time. Might lose some millennials if you drive a worse car lol.

        • icejester on 22/04/2018 - 21:29

          @idonotknowwhy:

          They probably had financial help getting those cars. It's not wise to spend so much on a car.
          Even if you get temporary prestige from having a nice car people can tell after a bit if you're actually wealthy or just trying to put up a facade. Your daily spending habits, your clothes, your activities, your savings reveals a lot more about your wealth than your car

        • idonotknowwhy on 23/04/2018 - 12:34

          @icejester: > They probably had financial help getting those cars. It's not wise to spend so much on a car.

          Of course. I spent $10k on my last car and now I don't even drive lol.

          Even if you get temporary prestige from having a nice car people can tell after a bit if you're actually wealthy or just trying to put up a facade.

          Your daily spending habits
          your savings

          Random people have access to this information.

          your clothes
          your activities

          Like an expensive car, can be paid for with credit.
          It's very easy to put on a facade, very easy to get access to a lot of credit.

  • owli on 08/04/2018 - 10:41
    +5

    Buy a Lada, comrade.

    • JIMB0 on 08/04/2018 - 19:39
      +5

      And double the value of it just by filling the petrol tank.

  • peterpeterpumpkin on 08/04/2018 - 11:02
    +4

    Since this is OzBargain you can't expect much support in purchasing a mobile money pit. Unless it was also used to make you money; like if you were a removalist, or you were going to make one of those cheesy "gold-digger rejects me but then sees my actual car" videos to your millions of Youtube subscribers.

    All the people I know that bought "fun cars" were bad with money. Or blood-sucking sociopaths: "Hey man! I can't believe I lost my job for drink driving [again]! Can I "borrow" $5,000 for the repayment on my Merc [which you'll never get back]?"

    But saying that, in 50 years the ability to even drive a car by yourself might be a luxury (let alone one with a loud, non-simulated engine noise). And if population densities swell, many cities around the world might adopt the Singaporean system that makes driving a car even less affordable. So you can live it up and buy your Mazda sports car while you're still alive; or, wait 30 years or so and you'll be driving much more expensive cars but in a life-like simulated world (i.e. if we aren't living in one already…).

  • Godric on 08/04/2018 - 11:18

    k

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