sharetrader
Page 12 of 18 FirstFirst ... 28910111213141516 ... LastLast
Results 221 to 240 of 350
  1. #221
    Member
    Join Date
    Jul 2007
    Location
    , , .
    Posts
    91

    Default

    Quote Originally Posted by fungus pudding View Post
    I'm sure you're right. No accounting for stupidity.
    Well I am very stupid on that basis then. I just justify my toy cars as my hobby but each to their own

  2. #222
    ShareTrader Legend Beagle's Avatar
    Join Date
    Jul 2010
    Location
    Auckland
    Posts
    16,505

    Default

    Quote Originally Posted by fungus pudding View Post
    1% of your personal net worth should get anyone a good vehicle. If that's not enough not - forget about owning one.
    Quote Originally Posted by fungus pudding View Post
    I'm sure you're right. No accounting for stupidity.
    Most families have the vast majority of their net wealth tied up in their family home and they may only have $250,000 equity.
    1% of that is just $2,500. So you are advocating that Jim and Jayne and their three little kids are to be driven around in some clapped out old dunger with none of the safety features of modern cars, no airbags, no abs brakes, no electronic stability control and so on.

    Better tell the tens of thousands of people admitted to hospital each year with motor vehicle accident injuries, many of which are less severe because of these safety features that they're really stupid.

    I tell you what is really stupid.
    The tens of thousands of people so addicted to their phones they drive while using them every day.
    The pack a day smoker burning up about $300 per week who for the same price could be driving a brilliant vehicle or taking an extended overseas holiday each year.

    Owning a safe reliable vehicle for one's family even if its considerably more than 1% of your net worth is not stupid.

    My contention is owning an expensive high performance car is not stupid as long as you can comfortably afford it AND its something you really, really enjoy, (see example below)

    I think for the vast majority of the population your suggested 1% of their net worth is...well..., quite frankly there's no other way of saying this, stupid.

    Lets have a look at a worked example of two well off professionals with their hobbies.

    Billy owns a 40 foot launch he moors at Westhaven marina for $10,000 per annum mooring fees. Insurance, maintenance and annual antifouling costs add up to another $10,000 per annum. He has $300,000 of capital tied up in it which could be earning him say 8% in the market so the opportunity cost is 300,000 x 8% = $24,000. Total cost including opportunity cost, but before depreciation and fuel costs = $44,000 per annum. He and his family enjoy it on average 23 days per annum, (yes they have done a survey down there and that's how many days the average boatie uses their boat. Cost per day of enjoyment = $44,000 / 23 = $1,913 + fuel plus annual depreciation.

    Bobby bought a demonstrator BMW M5 for $140,000. He thinks it will last 10 years before being worth about $30,000 so faces annual depreciation $110,000 / 10 = $11,000. He drives it 365 days a year and enjoy supercar level's of performance and handling and thinks an ordinary decent car would cost him half as much in depreciation anyway so gets 365 days of special enjoyment for an effective net price of $5,500 per annum extra over an ordinary car befitting for his professional duties and occupation.

    He doesn't drink much , smoke or have any money in a launch and thinks $5,500 wouldn't go far on an overseas holiday so 365 days a year of enjoyment driving a vehicle with supercar performance is actually pretty cheap for what you get.

    Perhaps that example illustrates why some well off people drive fancy cars rather than engage in other hobbies. $11,000 per annum in depreciation is nothing, for example, to a plastic surgeon making say $1m per annum.
    Last edited by Beagle; 17-01-2020 at 10:44 AM.
    No butts, hold no mutts, (unless they're the furry variety).

  3. #223
    Senior Member Entrep's Avatar
    Join Date
    Mar 2008
    Posts
    858

    Default

    Is that an X5M 2019 demo for $140K or the non-M Beagle? Do you have a link? All I see on TM is M50D, I have traditionally avoided BMW as I don't like their interior (dash sticks out too much).

    Also agree the 1% of net worth thing is stupid. You would need $20M to justify a $200K car on that basis. My car puts a smile on my face every time I get in it.
    Last edited by Entrep; 17-01-2020 at 11:08 AM.

  4. #224
    ShareTrader Legend Beagle's Avatar
    Join Date
    Jul 2010
    Location
    Auckland
    Posts
    16,505

    Default

    https://www.trademe.co.nz/Browse/Lis...?id=2300798164

    M5 mate. This but one example of quite a few on Trade Me with asking prices of $149K. I am fairly certain $140K would buy one of them.

    Just look at the smile it puts on the dial of this quite widely followed car reviewer https://www.youtube.com/watch?v=hxsBUkm9vBs

    Some people simply don't "get" cars and think they're simply a way to get from A to B. Others understand how they can be a sense of occasion every time you get in them regardless of whether you're just cruising or getting "up it". I'm in the latter category.
    Last edited by Beagle; 17-01-2020 at 12:23 PM.
    No butts, hold no mutts, (unless they're the furry variety).

  5. #225
    Senior Member Entrep's Avatar
    Join Date
    Mar 2008
    Posts
    858

    Default

    Quote Originally Posted by Beagle View Post
    https://www.trademe.co.nz/Browse/Lis...?id=2300798164

    M5 mate. This but one example of quite a few on Trade Me with asking prices of $149K. I am fairly certain $140K would buy one of them.

    Just look at the smile it puts on the dial of this quite widely followed car reviewer https://www.youtube.com/watch?v=hxsBUkm9vBs

    Some people simply don't "get" cars and think they're simply a way to get from A to B. Others understand how they can be a sense of occasion every time you get in them regardless of whether you're just cruising or getting "up it". I'm in the latter category.
    Thanks! Watched the video and holy crap that is one helluva car. 5 years warranty incl at $140K I'd say is a STEAL. Will add these to the list to try next time I am in the market. Looks fantastic IMO - better than E63.

    Do you know how the interior space is like compared to E63? What's your current vehicle and what do you think of RS6?

  6. #226
    ShareTrader Legend Beagle's Avatar
    Join Date
    Jul 2010
    Location
    Auckland
    Posts
    16,505

    Default

    https://www.youtube.com/watch?v=-3LkVH3Zxic Bought the top spec Calais V brand new a year ago. For me, being a bit of a car "nut" this is a real exercise in consumer restraint lol

    Loads of current technology like heads-up, adaptive cruise, matrix LED's e.t.c.e.t.c. watch the video. 9 speed auto is a real peach, GM apparently have over 60 patents on this new designed box and its a real honey. 315 horsepower, its no rocket ship but its pretty quick. Torque vectoring works a treat and with AWD it s a sweet handling bit of kit and a LOT of car for $50K.

    BMW M5 is a fair bit bigger than an E63 AMG in my opinion, certainly quite a bit wider. Huge respect for Audi RS6 and RS7, superb bits of kit. Go for the plus version and get 445 kw's, lots of fun !!

    Yeah, look I have to say I think the BMW M5 with the vast majority of its 5 year warranty left is a LOT of supercar for $140K with everyday practicality mixed in.

    I think for me right at the minute, (after past indulgences), its good for me to take a period of time driving a relatively ordinary car...that's what I am telling myself anyway but it would probably only take one test drive and it would be like...where do I sign lol

    I trying my best to stay away from BMW, Audi or Mercedes-Benz dealers...I'd be no more self controlled than a kid in a candy shop lol
    Last edited by Beagle; 17-01-2020 at 01:36 PM.
    No butts, hold no mutts, (unless they're the furry variety).

  7. #227
    Senior Member
    Join Date
    Jan 2016
    Location
    LA/ChCh/AKL
    Posts
    1,224

    Default

    Quote Originally Posted by Beagle View Post
    I'd wager plenty of motoring enthusiasts would see it very, very differently.
    standard 75 k car, net worth 7.5 million, can count most base line drivers of euro's in NZ i see do not have 7.5 million net worth.

    Part owing a car dealership in the US has satisfied me finally for playing with 4w toys, given it is a highly profitable share placement and i do think it has reduced my privately consumption markedly...

  8. #228
    Senior Member Entrep's Avatar
    Join Date
    Mar 2008
    Posts
    858

    Default

    I had a Calais before - nice car. Even then there was some stupidly high repair costs for relatively minor things. I am just straight dirty on Holden now after my wife's Captiva experience though. Would not touch them with a barge pole - rational or not.

  9. #229
    Member
    Join Date
    Jul 2017
    Posts
    110

    Default

    Well I finally got my Benz sorted which had started missing when hitting the open road. Did quite a bit of reading and everything was pointing to the plugs and coils. Took into a mechanic close to work, told them to check the plugs + coils and they told me it was the rocker cover so after replacing that and the gasket the following weekend heading to cricket it started missing again. Took it back and asked them if they'd checked the plugs/coils, they said they'd take another look and then told me they 'think' it's the timing chain and replacing it would be $2500 +.

    Thought this was rather strange as the chain should last a lot longer and there was no noise you could hear so took it to another mechanic close to home, straight away they said it's probably the plugs, got them to replace the coil on the missing cylinder as well. They couldn't believe someone was even suggesting to do the chain. Took it out to Waiuku in the weekend and she's flying again.

    Really happy to get it sorted and can now give it heaps, but pretty pissed about said former mechanic, who has now lost all future business from our 2 cars. You gotta watch out for crooks everywhere.

  10. #230
    Member
    Join Date
    Nov 2018
    Location
    Christchurch
    Posts
    399

    Default

    Quote Originally Posted by tipsy View Post
    Well I finally got my Benz sorted which had started missing when hitting the open road. Did quite a bit of reading and everything was pointing to the plugs and coils. Took into a mechanic close to work, told them to check the plugs + coils and they told me it was the rocker cover so after replacing that and the gasket the following weekend heading to cricket it started missing again. Took it back and asked them if they'd checked the plugs/coils, they said they'd take another look and then told me they 'think' it's the timing chain and replacing it would be $2500 +.

    Thought this was rather strange as the chain should last a lot longer and there was no noise you could hear so took it to another mechanic close to home, straight away they said it's probably the plugs, got them to replace the coil on the missing cylinder as well. They couldn't believe someone was even suggesting to do the chain. Took it out to Waiuku in the weekend and she's flying again.

    Really happy to get it sorted and can now give it heaps, but pretty pissed about said former mechanic, who has now lost all future business from our 2 cars. You gotta watch out for crooks everywhere.
    European repairs can be very frightening. My cousin bought a 2nd hand Fiat Ducato van (2002 model) 2 years ago and drove it from Auckland to Dunedin to where he lives. My 1st advice to him was to seek a european auto mechanic because they're not straight forward to do in repairs. As a precautionary measure he decided to get a tune up on the van at a nearby garage. They came back saying it could do with a new radiator, new timing belt, and new clutch. The van sat in the garage for over 3 weeks and the response was they were having difficulty getting the timing belt on. Anyways he was pushing them to get it done as he had a wedding to go to in New Plymouth. So when I met up with him at the Picton ferry I asked how was the van going? He said the clutch seems a bit spongy and lacked power on the high RPM range. A week later on his way back 'BANG!' - he txt msg saying he was stranded about an hours away from Whanganui. The garage shop there did a head removal and took photos which appeared the valve stem eventually bored a hole in the piston. Faulting improper timing belt installation. He took the documents back to the garage in Dunedin and they wouldn't have a bar of soap of it... total cost of his van adventure (bought off TradeMe + air flight to Alk, garage repairs) $22K.

    Just like share market investors, not all mechanics are the same and the shoddy mechanics will not own up their mistakes, just like fund managers that underperform the market.

  11. #231
    Senior Member Entrep's Avatar
    Join Date
    Mar 2008
    Posts
    858

    Default

    Quote Originally Posted by SBQ View Post
    European repairs can be very frightening. My cousin bought a 2nd hand Fiat Ducato van (2002 model) 2 years ago and drove it from Auckland to Dunedin to where he lives. My 1st advice to him was to seek a european auto mechanic because they're not straight forward to do in repairs. As a precautionary measure he decided to get a tune up on the van at a nearby garage. They came back saying it could do with a new radiator, new timing belt, and new clutch. The van sat in the garage for over 3 weeks and the response was they were having difficulty getting the timing belt on. Anyways he was pushing them to get it done as he had a wedding to go to in New Plymouth. So when I met up with him at the Picton ferry I asked how was the van going? He said the clutch seems a bit spongy and lacked power on the high RPM range. A week later on his way back 'BANG!' - he txt msg saying he was stranded about an hours away from Whanganui. The garage shop there did a head removal and took photos which appeared the valve stem eventually bored a hole in the piston. Faulting improper timing belt installation. He took the documents back to the garage in Dunedin and they wouldn't have a bar of soap of it... total cost of his van adventure (bought off TradeMe + air flight to Alk, garage repairs) $22K.

    Just like share market investors, not all mechanics are the same and the shoddy mechanics will not own up their mistakes, just like fund managers that underperform the market.
    They same can be said for any car brand. Eg we had a Holden Captiva, started giving off weird fault codes. My mechanic (I used two of them in the end) neither knew what was really wrong and just advised to get X part for $1K from Holden to fix the error. Did that and the issues weren't fixed. Turns out the entire transmission was buggered after 50K kms!! And to top it off I needed another $1K part to finally get rid of the codes. All up around $7K later it was fixed. This was a 2012 HOLDEN CAPTIVA with 50k kms. I listed it on Trademe immediately and got rid of it.

  12. #232
    Member
    Join Date
    Nov 2018
    Location
    Christchurch
    Posts
    399

    Default

    Quote Originally Posted by Entrep View Post
    They same can be said for any car brand. Eg we had a Holden Captiva, started giving off weird fault codes. My mechanic (I used two of them in the end) neither knew what was really wrong and just advised to get X part for $1K from Holden to fix the error. Did that and the issues weren't fixed. Turns out the entire transmission was buggered after 50K kms!! And to top it off I needed another $1K part to finally get rid of the codes. All up around $7K later it was fixed. This was a 2012 HOLDEN CAPTIVA with 50k kms. I listed it on Trademe immediately and got rid of it.
    Well, I would be curious on any mechanic that asks $1K to remove error codes. Not fancy on Ford of Holden, I did better by owning a Toyota.

  13. #233
    Senior Member Entrep's Avatar
    Join Date
    Mar 2008
    Posts
    858

    Default

    Quote Originally Posted by SBQ View Post
    Well, I would be curious on any mechanic that asks $1K to remove error codes. Not fancy on Ford of Holden, I did better by owning a Toyota.
    The mechanics charged me for time only, just sent me to Holden to buy the part direct. And that was only for the "1st" $1K part. The second $1K part I needed to buy off Holden after they did the transmission for $5k.

  14. #234
    ShareTrader Legend Beagle's Avatar
    Join Date
    Jul 2010
    Location
    Auckland
    Posts
    16,505

    Default

    Keeping an aging European car going is a very expensive and frustrating business and those without deep pockets needn't apply.. On the other hand, some of the better ones can be a superb bit of kit when they're newer and its worth owning your dream car at least once even if it does turn into a nightmare in later years.
    One of life's experiences that you'll look back on and be glad you did it.
    No butts, hold no mutts, (unless they're the furry variety).

  15. #235
    Junior Member
    Join Date
    Aug 2010
    Location
    Ōtepoti
    Posts
    14

    Default

    Anyone ever own a Land Rover Disco 4 and care to comment whether they found their nirvana? Driven a 2018 and was impressed but not quite in my price range lol. Happy for the older model just for the long drives.

  16. #236
    ShareTrader Legend Beagle's Avatar
    Join Date
    Jul 2010
    Location
    Auckland
    Posts
    16,505

    Default

    https://www.motortrend.com/news/best...e-cars-to-buy/ If only there were all available in right hand drive and those prices were $Kiwi...pretty sure I'd find my nirvana somewhere amongst this lot
    No butts, hold no mutts, (unless they're the furry variety).

  17. #237
    Junior Member
    Join Date
    Aug 2010
    Location
    Ōtepoti
    Posts
    14

    Default

    Perhaps Turners trolls this thread and we’ll be able to rent on a monthly basis.

  18. #238
    Junior Member
    Join Date
    Sep 2013
    Posts
    7

    Default

    Do the numbers, depreciation on a new European vehicle are multiples of the maintenance required on older ones.

  19. #239
    Senior Member
    Join Date
    Jan 2016
    Location
    LA/ChCh/AKL
    Posts
    1,224

    Default

    Quote Originally Posted by Beagle View Post
    https://www.motortrend.com/news/best...e-cars-to-buy/ If only there were all available in right hand drive and those prices were $Kiwi...pretty sure I'd find my nirvana somewhere amongst this lot
    With cash backs and discounts you get a top spec 2020 M5 for less than a 100k US currently. Given purchasing power is dollar for dollar for the middle class, no wonder the LA streets are full of them. Perhaps time to trade up my garage there. With their depreciation rates thru a business it cost little with tax break over three years there.

  20. #240
    Legend
    Join Date
    Apr 2008
    Location
    Sth Island. New Zealand.
    Posts
    5,114

    Default

    Quote Originally Posted by Red Bus View Post
    Do the numbers, depreciation on a new European vehicle are multiples of the maintenance required on older ones.
    The golden maxim applying to European vehicles - if you can't afford a new one, you sure as hell can't afford a used one.

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •