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Old 04-19-2014, 01:33 PM   #11 (permalink)
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Originally Posted by redpoint5 View Post
If I had taken the initial offer on the car, I would have lost $7,000.
Nope, you would have lost $24K. Instead, you only lost $17K.

My definition of poor is being up to your eyeballs in debt, but not owning any appreciating assets.
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.

Buying a new car is among the poor investment decisions.
Buying a car is NOT an investment.

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