/biz/ - Business & Finance

How does one reconcile the fact that buying new cars is financially disastrous, not just now but in the long term as well?

Say Mehmet goes out and buys a new base model 3 series for, say for the sake of round numbers, $40k. Well that $40k if instead invested over the next 40 years with an average annual return of 8% is closer to 900k at the end. That's 900k of future assets for a depreciating turkmobile now.

Sure, financing and leasing exists but it's the same idea more or less if you pay the $40k over a few years too. I love cars just as much as anyone else here but as someone with a basic grasp of personal finance I just can't justify buying a new luxury car unless I become uber fuck you rich. I think I'll stick to my used jap shitboxes

What is /biz/'s thoughts? I'm cross-posting this from /o/ also to gauge different reactions, if any