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Originally Posted by redpoint5
If I had taken the initial offer on the car, I would have lost $7,000.
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Nope, you would have lost $24K. Instead, you only lost $17K.
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My definition of poor is being up to your eyeballs in debt, but not owning any appreciating assets.
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That's one definition. Another is just not having any money, period. And spending lots of money on a newish car, whether it's $24K or $17K, means you're either getting deeper in debt, or foregoing an opportunity to purchase some appreciating assets.
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Buying a new car is among the poor investment decisions.
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Buying a car is NOT an investment.