I know my math was fuzzy, but your math needs a whole new term!! I was sticking with apples, but you're taking apples and multiplying them by bananas and dividing by oranges to come up with some crazy fruit-salad number logic. If he didn't buy a car at all and invested for 40 years he could have over $325,000. Using your math in "my formula" means it'd cost him $325 a day. Seems like there is something wrong when we do math your way, huh?

 

....and if we are talking "true cost" we need to figure in how much money he is going to spend on gas, insurance, maintenance, car washes, time not spent finding investments where he'll get 8% a year for the next 40 years,... if he doesn't buy a car at all, look at what he'll save!

 

Drive both models and pick the one YOU like best!

 

hi everyone, thanks so much for your reply, i will go finally for the MCS, because cost the same as it comes with all the extra, so i don't have to spend allot of money on them, and the non s coste the same with no extras, so that's my decision

 

Congrats! Be sure to post pictures!

 

Well I was sucked in by all of the sweet sweet power Mmmm.



Once gas price went through the roof I kinda wished I had a Cooper. But I'm still happy with that sweet sweet power.

 

Aren't the S and the Cooper both 1.6's?

Also, even if you stomp the Cooper, you're gas mileage will still be more than if you stomp an S. You just won't go as fast.

 

No....Its a very common calculation when making buisness decisions. and yes, making carpayments your whole life does cost about $325 a day.....Its actually about $376 a day. Anyway ....its called compund interest.
where
P = future value
C = initial deposit
r = interest rate (expressed as a fraction: eg. 0.06)
n = # of times per year interest in compounded
t = number of years invested

“Taking on a car payment is one of the dumbest things people do to destroy their chances of building wealth. The car payment is most folks’ largest payment except for their home mortgage, so it steals more money from the income than virtually anything else. USA Today notes that the average car payment is $464 over sixty-four months. Most people get a car payment and keep it throughout their lives. As soon as a car is paid off, they get another payment because they “need” a new car. If you keep a $464 car payment throughout your life, which is “normal,” you miss the opportunity to save that money. If you invested $464 per month from age 25 to 65, a normal working lifetime, in the average mutual fund averaging 12 percent (the seventy-year stock market average), you would have $5,458,854.45 at age sixty-five. Hope you like the car!” -D. Ramsey

 

Do you think I hadn't heard of compound interest before? Did I just guess at the $325k amount? If I cared, I'd be insulted.

People really shouldn't be spending any money on anything. Even just spending $2/meal a day will cost $47,576.70 of lost earnings. And that is just from the first year's worth of eating!! And what if they spent more than $2 on a meal here or there? Oh my! And that's assuming 8% return. If it was higher, you'd be losing even more! And why? Because you have to EAT every day!?!?!?!?

I really don't understand people. If you'd just stop spending now, in 40 years you'd have a vast fortune that you'd never be able to bring yourself to spend and enjoy. C'mon!!!

 

I believe the mistake almost everyone makes is they spend money based on how much they earn from working. Ideally, you want to remove as much spending as possible and invest. You invest to the point to where your investments generate an income greater than your expenses. Sounds like simple economical logic, but very few people stick to this. If you penny pinch early on, and invest all your money responsibly you will be able to live off the income from your investments alone, thus your salary will be extra cash.(to hopefully invest further and make more interest)

So basically your employment income should not fund your expenses, your investment earnings should, and this simply does not happen enough in the US.

 

I hope I can reach that point one day.

I've never had car payments and hopefully never will. The amount of money I have on hand determines when and what I can buy. I pay cash and typically keep my cars until the wheels fall off.

Maybe its just because all the math in this thread would give me a headache and I just can't deal with it.

 

Look....There are needs and then there are wants. You spend what you need, and spend on your wants when you can afford it! I dont want to be paying for your medication when you are 70 because you mismanaged your money for the last 50 years. Alot of people destroy a large part of their wealth building capacity by buying new cars (and other items that lose value)every 3 years

Snypr is absolutely correct. This is the definition of affording depreciating assets. There is no reason that by your forties that your investment returns should not be more than your actual salary.

Sorry this got so far off topic....So now back to the topic that has been beat to death on at least two dozen other threads (I make funny)

 

Yeah, well I could get blown up tomorrow, so unfortunately I live for today.

Anyway, congrats on the decision Itonano. You'll definitely have fun, and like others have said, post some pictures.

 

Just bought the Cooper S today and im very happy, i coudn't buy a new one because the money and because i prefer the first generation.
the car is from a very beautiful girl haha, i just tried today the car and it was my first time to drive a mini, wow how run...is almost a bargain i must say, is color british racing green, white stripes, checkered mirrors, panoramic sunroof, 17'' wheels...and for a good price doing deal, just down the price from 22.000$ to 18.000$, hehe im very good dealer and the condition is excelent, model from 2004, last check in november with 4 new wheels, no inspection until 2010, im very happy with it and i think the price is fine with 60.000km and those extras, now is at the BMW because i want some new accesories and i will post the picture as soon ii get it

 

Congratulations on your Cooper S purchase. Enjoy the ride.

 

thanks crashton, now more accesories on the car, will see what else i can buy