[m2not1LE]

Originally Posted by JABCAT

Nowhere did I imply vehicle reimbursements/allowances were the norm. I said it was one example. There are plenty of industries in which companies provide their employees with vehicle allowances. Medical sales, pharmaceutical sales are just a couple examples. Reimbursements/allowances are much more common now than companies providing a company vehicle. In many instances, the employee receives a set monthly allowance and can either choose any vehicle they want, or can choose within a certain category of vehicle. Employees in these industries also receive mileage reimbursements for the miles used for work.

Many companies also have requirements on the age of the vehicle to receive an allowance. My wife's former employer had a requirement that the vehicle couldn't be more than 5 years old, for example. We used to joke that BMW was the official company car because nearly every one of her colleagues had BMWs. Her current employer has no restrictions on the type of vehicle. Her monthly allowance plus mileage more than covers her X3MC payment plus our monthly insurance premiums for 3 vehicles

Your opinion of who can or who can't afford a vehicle is just that, an opinion based on nothing of any substance.

Of course you did. You specifically stated this:

Originally Posted by JABCAT: That's not an accurate take at all, probably for most buyers. There are legitimate reasons not to pay cash. For example, my wife's company reimburses her for her vehicle. Why would she pay cash for it and then wait to recoup all that money in monthly reimbursements from her company?

My comment was based on the board average, wherein that overwhelming majority is not receiving employer provided car subsidies. That your wife happens to be in the tiny majority who does doesn't make my statement "not an accurate take at all" because it's entirely accurate for that same overwhelming majority.


Also, given today's high finance rates vs. the typical yield on cash, most people would be much better off by paying cash. Why finance at 7% when even the best CDs are now struggling to yield 4.5%?

[two_three_two]

"Why yes, i would love to tie up liquid assets into a depreciating asset, and my calculations do not factor in the rate of deprecation on the vehicle in question nor time value. CAGR? never heard of her. if you have to quibble about dollars here, you cannot afford the car, also, i will quibble over a few thousand bucks in interest." go away bro no one cares.

[JABCAT]

Originally Posted by m2not1LE

Of course you did. You specifically stated this:

Originally Posted by JABCAT: That's not an accurate take at all, probably for most buyers. There are legitimate reasons not to pay cash. For example, my wife's company reimburses her for her vehicle. Why would she pay cash for it and then wait to recoup all that money in monthly reimbursements from her company?

My comment was based on the board average, wherein that overwhelming majority is not receiving employer provided car subsidies. That your wife happens to be in the tiny majority who does doesn't make my statement "not an accurate take at all" because it's entirely accurate for that same overwhelming majority.


Also, given today's high finance rates vs. the typical yield on cash, most people would be much better off by paying cash. Why finance at 7% when even the best CDs are now struggling to yield 4.5%?

Interesting how one example implies a majority somehow, and also that you know the financial situation of the entire board to be able to know where the average falls.

See how the example given directly pertains to the statement immediately preceding it, "There are legitimate reasons not to pay cash. For example, my wife's company reimburses her for her vehicle."

Regardless, your opinion that somebody who needs to finance can't afford it is not based on any factual data that you have available.

[RockCrusher]

Originally Posted by IamJoe

I appreciate all the suggestions and viewpoints shared. Tomorrow, I have an appointment scheduled at my credit union to explore financing options.

Maybe too late but another thing....

My SOP is to keep around 1 year's salary in cash (well, savings) just in case I get laid off. Which over the nearly 50 years I worked full time happened several times.

By having cash reserves I can be picky about which job I take. And more than once this cash reserve gave me the peace of mind to politely decline an offered position and hold out for a better one.

By not having a car loan and a subsequent car payment -- or really any other debt -- my cost to get out of bed the 1st day of the month is about as low as it can be. Important when one is working. But even more so when one is not working but rather looking for suitable work.

[theblackfalcon]

Originally Posted by evdoho

I blame BMW NA for lack of marketing, because I believe many people don’t even realize a 500+ HP X3 exists, so they go buy a Macan GTS or GLC 63S assuming BMW has nothing competitive on offer.

Lol. I didn't realize they have that much HP and I have a 2023 X5.

[Kevin_The_Clean1]

Originally Posted by RockCrusher

Maybe too late but another thing....

My SOP is to keep around 1 year's salary in cash (well, savings) just in case I get laid off. Which over the nearly 50 years I worked full time happened several times.

By having cash reserves I can be picky about which job I take. And more than once this cash reserve gave me the peace of mind to politely decline an offered position and hold out for a better one.

By not having a car loan and a subsequent car payment -- or really any other debt -- my cost to get out of bed the 1st day of the month is about as low as it can be. Important when one is working. But even more so when one is not working but rather looking for suitable work.

That's a great idea & this makes me look at what I save a touch differently now.