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Old 04-10-2006, 08:48 AM
Ventoux Ventoux is offline
Officially Welcomed to the 'Fest
Location: USA
 
Join Date: Dec 2005
Posts: 135
Mein Auto: '07 335i - Ti Silver
More than having a solid retirement, not having tons of debt is more important to me. Sure, people have every right to make the choices they want, but i still stand by the fact that encurring large amounts of debt for immediate satisfaction isnt smart. No matter how you try and justify it.

http://www.cbsnews.com/stories/2001/...in286725.shtml

This article suggests that debt payments shouldnt eat up more than 10-15% of income. (car included) If you make minimum monthly payments on credit card debt, you seriously need to revaluate whats going on financially in your life. Im not trying to be a jerk here, its just the truth.

There is a fantastic episode of Frontline on the history of the credit card. Its very eye opening. http://www.pbs.org/wgbh/pages/frontl...s/credit/view/

As it relates to the topic, IMHO, if you carry large amounts of CC debt, if you you dont save monthly for your retirement, if you live month to month with nothing left over, then you really shouldnt own a high end automobile, not matter what kind.


Quote:
Originally Posted by 650iOzBoy
Exactly my point. People want different things and hence places different valuation on things (or "utility" as those economists call it). For Ventoux, having a solid retirement is important to him/her.

As for me, this is one case in life where I do not do what I preach. I can afford the 650i without undue compromising. I'm grateful for that.
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