Even if You COULD Afford It, WOULD You....? (funds, pay, vehicle)

[calgirlinnc]

Hypothetically, if you could easily afford the monthly payment on it....

and given everything that is happening in the markets right now...

...WOULD you go out and buy a brand new Mercedes right now?

[slackjaw]

I can afford it, and no I wouldn't regardless of market conditions.

[CaptainNJ]

Originally Posted by calgirlinnc

Hypothetically, if you could easily afford the monthly payment on it....

and given everything that is happening in the markets right now...

...WOULD you go out and buy a brand new Mercedes right now?

so the idea is that i could easily afford it now, but may not in the future if things in the economy tank? then the answer is no. i can only afford something im confident that i will be able to afford throughout the time i will have to pay for it.

also, affording something to me is more than just being able to make the payments. it also involves getting good value from the product and having enough money left over for everything else including the amount of savings i want.

[Themanwithnoname]

I pay cash.

[Chasva69]

Originally Posted by slackjaw

I can afford it, and no I wouldn't regardless of market conditions.

same, same. I feel uncomfortable with conspicuous consumption; it's not needed for my ego or self-image.

[calgirlinnc]

BTW, the Mercedes is not for me (or my DH).

In the past, though, if I felt I could have afforded it, I would have gone for the luxury car (a BMW, though)....

...But now, having been through some hard times, I would not choose that.

I would buy a less expensive car and try to do some smarter things with that money.

And, for me, the current economy does come into play with that mind set. (But I'm learning these lessons slowly).

[Dollydo]

No, however, I do not buy new cars. I let someone else eat the instant depreciation.

[stan4]

Originally Posted by calgirlinnc

Hypothetically, if you could easily afford the monthly payment on it....

and given everything that is happening in the markets right now...

...WOULD you go out and buy a brand new Mercedes right now?

I can.

And no way in hell.
I really don't care for Mercedes or most German cars.

If the question is really about making payments on a luxury item in an uncertain economic environment, then the answer is that you probably can't afford it if you don't have the cash for the unnecessarily expensive item.

Luxuries are supposed to be for when you have excess money AFTER you have covered all your basics, including fully funding retirement funds and paying all your other bills and having substantial rainy day savings.

I may not always pay cash for something, but I will never buy anything I don't have the cash for right then and there.

[calgirlinnc]

What bothers me so much about this scenario (and yes, it is not about the Mercedes in particular)--

--the person who is buying it works for his father.

His father owns a small business in one of the industries most devastated by the financial debacle.

His father is 70 and will not retire and has not sold the company because he is still employing his son.

His mother is 68 and will not retire because she is keeping them floating while the business is suffering.

And the son goes out and buys a new Mercedes (insert any luxury vehicle here).

Maybe I sound jealous, and maybe I am, but I a cannot understand why a grown man would go and do that to his parents.

And it was not an entry level Mercedes, either.

[20yrsinBranson]

Originally Posted by calgirlinnc

Hypothetically, if you could easily afford the monthly payment on it....

and given everything that is happening in the markets right now...

...WOULD you go out and buy a brand new Mercedes right now?

No.

I don't care for Mercedes. There are other cars I like better.

20yrsinBranson