I was thinking it's easier to reach satisfaction for watches than compared to cars. From an absolute measurement, say u would want a PP..u can pay $50k which is a huge sum for a watch but it is still affordable. To get an 'comparable' level of car in the luxury spectrum, u probably have to get a Ferrari? Now that is unattainable for most people.
And if u throw in the concept of value, it's almost makes owning a watch like that a saner choice.
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Nice Car or watches?
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Originally posted by LYKeat View PostWatches for me. With the lost of $$ on a nice car, you can get a nice watch every year
But if we are talking about value retention, than its clear which one is better.
Cars are pure expense, buy what you can write off.
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Watches for me. With the lost of $$ on a nice car, you can get a nice watch every year
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nice house = family man
nice house + nice car = executive family man
nice house + nice car + nice watch = business man
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Nice wife, nice children, nice colleagues and friends, nice health.
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Nice Watch, Nice Car and finally nice House in that order....coz if Nice house 1st...then probably will never be able get a nice house...which means no nice car and not even a nice watch....
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Go for a nice house, nice watch as they are assets.
Car also can, but what i do is i make sure i can use it to close more deals to have that extra luxury.
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My take is,never take car financing. If your car depreciate $30k per annum,after interest it will depreciate $32k per annum. Furthermore,we all know when we calculate how it depreciate is when we drive it all the way to scrap date. When you have to sell on to used car dealers,your car will end up depreciating even more. My rule of thumb is when you earn $100k per annum,you will be able to afford a $100k car (used or brand new),if you earn $200k per annum, you can afford a $200k car. If you buy a car like how you buy watches,paying purely cash,you will be alright.
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