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/biz/ - Business & Finance

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1819039 No.1819039 [Reply] [Original]

Is my dad making a bad decision by wanting to buy a $100,000 Maserati Levante SUV?

Stats:

Age: 60
Anticipated retirement age: 65
Current net worth: $750,000 portfolio and paid off $500,000 house.
Income: $150,000

I feel like he's having some kind (late) mid-life crisis by wanting to blow his money on a freaking car and I don't want to see them struggle in retirement. My mom doesn't work either. I also don't make enough ($60,000) to bail them out in case something happens. This is all Canadian dollars btw. I've been trying to convince him to buy something more reasonable in to $50,000 range but he ignores me. Also, it's not like he's always had shitty cars or anything. They've always bought new SUVs from Honda or VW, but nothing in this range. Thoughts?

>> No.1819044

>>1819039
Nah, he's gonna die soon. Might as well enjoy it. It looks like he has plenty of money to live on.

>> No.1819046

>>1819044
>Nah, he's gonna die soon.

...not what I wanted to hear...

>> No.1819057

>>1819046

Did you forget you're still on 4chan?

>> No.1819066

get a slightly used Range Rover?

>> No.1819175

>>1819039
He probably wants to enjoy a vehicle like that before he gets too old. I could be in a better financial position than I am now, but i just bought a similarly priced two seater sports car.
Mainly because in ten years I probably won't have the same desire to drive 180mph.

>> No.1819182

He's old enough and has enough money to buy it.

The problem with cars is that expensive car purchases are made for other people, not the buyer. People that spend 100k on a car and are just upper middle, like your father, are just buying it purely to show it off to people he doesn't give a shit about.

He'd get more enjoyment overall by using it to travel, instead of just driving around town and impressing niggers and post menopause women.

>> No.1819194

>>1819039
He should lease. In Most countries this is better for your tax, you don't have much risk and you don't have to wait thirty years for your car the have a minimal chance of you making a good investment with it. Buying new cars is mostly a bad idea, except you think money is not an issue fort you anymore.

>> No.1819242

>>1819039

He's not, but convince him not to get a Masishit.

They are rare because most people aren't dumb enough to buy that piece of shit. Tell him to get a Cayenee instead.

Porsche Cayenne is the only high end SUV that has some reliability.

Masishit will be in the shop a lot.

>> No.1819262

>>1819039
>60
>Mid-life

Mid life crises are for 40 year olds. Though you do say it's late.

Anyway no he's fine; you're independent and I'm guessing no more kids live at home with him. Just tell him to get a different SUV because maseratis are garbage tier. If he wants to drop $100k and it has to be an SUV he can get:

>GLE - G Class
>Range Rover
>Audi RS 6 Avant
>Toyota Landbarge
>Toyota Landbarge + (Lexus LX)
>Cadillac Escalade, the true old man's luxubarge.

All of which will be easier to get maintenance on than a Maserati.

>> No.1819322

>>1819039
Convince him to lease it

>150000 income
>driving a Maserati

wew

>> No.1819334

>>1819039
Say to him he have to buy a Rs6 Avant.

>> No.1819343

why not a fast sporty toy

>> No.1819353

Fucking boomers

>Jeez I'm nearing the end of my life. Better take out a second mortgage and blow my savings on a $100k car instead of leaving money to my kids when I die.

>> No.1819363

Honestly? Your dad can afford it. $750k is more than he needs to retire at age 65 in Canada right now, especially since he already has a house. And keep in mind he will be collecting Old Age Security and Canada Pension Plan in retirement as well.

If he buys it now while he's still working for another 5 years he will be able to afford the maintenance too. I wouldn't push past $100k, but a $100k car is definitely doable in his situation.

(and he's not gonna die soon, 60 isn't that old in the developed world)

>> No.1819431
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1819431

>>1819353
tru but its his money f am

>> No.1819456

>>1819039
>$100k on a car

No not necessarily

>$100k on a maserati
>$100k on a SUV

yes a terrible terrible decision

>> No.1819474

>>1819262

Throw the BMW X5 M in there too.

>> No.1819477

Life isn't an excercise is accounting you autistic fuck, let daddio enjoy his last few years in a nice car

>> No.1819923

>>1819363
>750k is more than he needs to retire

You need to be 18 to post here

>> No.1819928 [DELETED] 

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>> No.1819959

>>1819039
150k job and 750k saved.

dude what.
even living a great lifestyle and great, you should spend under 50k and then with everrything you save you should be compounding. i'm 22 years old and lost with what you say your dads a loser for wanting to buy that car. tell him to chill the fuck out and smoke a bowl

>> No.1820062

>>1819353
>>Jeez I'm nearing the end of my life. Better take out a second mortgage and blow my savings on a $100k car instead of leaving money to my kids when I die.
>GIBS ME YOR MUNEY

>> No.1820077

Lmao hes 60 who cares he wont be going over 65mph anyway