General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsMercedes Benz of Oakland, $150K car destroyed.
looters were a diverse group - see video below.
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Historic NY
(37,449 posts)its opportunistic.
spin
(17,493 posts)pillage, destroy and steal.
Squinch
(50,949 posts)Nevilledog
(51,104 posts)PTWB
(4,131 posts)A lot of people think the murder of George Floyd was horrible but the looting and rioting has to stop.
Instead, try this: the looting and rioting is horrible but the murder of unarmed black men has to stop.
Its all a matter of perspective and priorities. How many billions of dollars in damage will it take the powers that be to wake up and allow our pre-purchased representatives to enact some real change? How much is the life of one unarmed black men worth? To me its worth bringing the system to its knees.
R B Garr
(16,954 posts)We don't have to ignore what we can see happening with our own eyes. There is nonstop coverage of the looting on national and local TV and it's not about the tragic murder of George Floyd.
Squinch
(50,949 posts)onethatcares
(16,168 posts)I wonder what the rest of the pay package looks like.
MissB
(15,808 posts)Not your standard Mercedes which tend to hover around the equally obscene $60k cost.
sir pball
(4,742 posts)$60k will get you a base-level midrange model (E-Class).
A base-level high-end model (S-Class) is $94,250; $130,150 if you'd like the base-level 2-door version. The performance 2-door starts at $171,400; $224,060 with all the options.
Maybachs start at $173,000; the fully-optioned high end model is $235,180.
MissB
(15,808 posts)When I had my car in for service. Didnt notice the price; just the six figures.
I buy mine 3 years used for half the cost of new (not Maybach).
sir pball
(4,742 posts)Some BMWs deprecate over 50% in the first two years. That's one hell of a bargain on the other end.
Just saying a $150k MB doesn't have to be anything special, you could probably get an E-Class wagon there if you tried.
MissB
(15,808 posts)My current car is now 5 years old and has all of 20k miles on it. Im pretty sure a little old lady had my sporty 2 door before me; she only put 5k miles on it in 3 years.
Ive thought of getting an SUV style but I really dont see replacing this one at all. Im probably going to just drive it into the ground.
sir pball
(4,742 posts)Base model with no options, $115,900.
Top model with all the boxes checked, $193,450.
Thats some serious coin
Nope! I still compare the cost of any vehicle I purchase with the cost of our first house.
fescuerescue
(4,448 posts)When they eat dinner provided by their union member mom or dad who built it.
I've never minded super expensive things as long as they are built by men and women who use the money from the rich to provide a living.
We could of course close the autoplant, stop selling that car and let the workers and workers children hit the streets though.
Squinch
(50,949 posts)they sell a year, the company will go out of business.
This car is nothing but a badge that makes sociopaths say, "I need to own this to ratchet up the conspicuous consumption game I play with my billionaire friends which convinces us that we need even more billions."
To get those billions, they will bilk anyone out of anything. And your hypothetical union family pays dearly for that.
And don't look now but the autoplant in the US was probably already closed because the guy who buys a 150k car needs the pension money from your union family to play his money hoarding game with his friends.
fescuerescue
(4,448 posts)But they are a good place for the wealthy to redistribute their cash to middle class families.
uncle ray
(3,156 posts)Squinch
(50,949 posts)And how does the color of the buyer matter?
Blue_true
(31,261 posts)The person has an option to buy, most don't buy. The price of the car goes down and it is sold for a lower price. Personally, I prefer a nice pickup with a big bed for hauling things.
Demovictory9
(32,456 posts)SideStep
(93 posts)What kind of scam is it you believe non wealthy black people are pulling.
You are looking at a car payment over two thousand five hundred dollars a month.
Do you have any information to back your claim that non-wealthy black people are driving around in $150,000 cars?
Mosby
(16,311 posts)But people lease expensive cars all the time.
SideStep
(93 posts)Lease payments would still be around $2,000/month.
"But people lease expensive cars all the time."
And those people are called wealthy.
With a high residual value the monthly payment on a 150k car could be as low as 1300mo. That's with 2500 down, interest at 2.9, 48mo.
SideStep
(93 posts)Or in recent history. One can plug in make believe numbers all they want and get make believe answers. I say that respectfully as we both know that it isn't happen in reality. Truly not even close.
Mosby
(16,311 posts)Estimated Monthly Payment
$1,724/mo
MSRP
$150,000
Interest Rate (APR)
2.9
Money Factor
0.0012
Down Payment
$5,000
Residual Percentage
50
I upped the down to 5000.
Still 48mo term.
65 percent residual:
Estimated Monthly Payment
$1,283/mo
MSRP
$150,000
Interest Rate (APR)
2.9
Money Factor
0.0012
Down Payment
$5,000
Residual Percentage
65
Trade-In Value
$0
Value My Trade-In
Term (Months)
SideStep
(93 posts)Top residual values also aren't for high end cars, at the moment, except for the Corvette. Residuals for high end cars have been declining.
Interestingly enough, high end German cars have been declining in residual values quicker than other cars and trucks. Some select top luxury cars do have a solid residual. Mercedes has flooded the market with less expensive vehicles when demand is not there. Lexus is holding strongest in residuals at the moment, from what I see.
Say your first number is correct. How many non-wealthy black people do you see making such a deal? That was the original point posed.
Mosby
(16,311 posts)Not necessarily AAs.
I used to work in a business where I was privy to a lot of personal financial info of my customers.
A lot of very wealthy customers of mine didn't even drive fancy cars. These are people who would use titanium black amex. Others would drive in with expensive euro cars who couldn't scrape together 100 bucks on a cc.
SideStep
(93 posts)$3,700 down $419 per month.
It's actually better than I thought it was. It still highlights that no one is paying "high hundreds" per month for a $150,000 car(not your claim but a part of this conversation) and black people who aren't wealthy aren't driving around in them. I found that claim to be very strange.
https://www.mbusa.com/en/special-offers-regional
Blue_true
(31,261 posts)A monthly rental can run into the higher hundreds, within reach of some people that find status in cars like that. Mercedes cars ARE well designed, so there is a lot of functionality involved with owning a car like that. My niece either rents one or own one, I never asked which, she is a successful businessperson.
SideStep
(93 posts)When you say "high hundreds" you are talking about daily, correct? You cannot rent a brand new $150,000 car for "high hundreds" per month. Not even a used one in good condition.
https://www.enterprise.com/en/reserve.html#cars
Most of those are not $150,000 cars nor are they new which is where the conversation started.
Blue_true
(31,261 posts)SideStep
(93 posts)on an extended basis.
Blue_true
(31,261 posts)SideStep
(93 posts)Done by said dealership.
One is not qualified to rent a $150,000 car if they are not wealthy.
Link?
Blue_true
(31,261 posts)if something goes wrong and they are at fault.
Like you pointed out, the contract comes with a requirement to pay for dealer scheduled maintenance, tax and license fees. But still, a person can get use of a $150,000 car for two-four years and pay less than $50,000 out of pocket if that person choses not to buy at the termination of the lease.
There are cases where renting vehicles make sense. For example, trucks for hauling merchandise are better rented, with dealer servicing agreements, because it is easier to write that off of annual taxes than it is the amortize the cost of owning the truck.
Honestly, I wouldn't waste time owning or leading a luxury vehicle, my life priorities are elsewhere.
SideStep
(93 posts)It's why there are no links to back it up. The costs aren't even really close to "high hundreds" per month on a new $150,000 car. Purchased, leased, or rented.
I would love to be proven wrong with a link. I'll be in the marked for one.
"But still, a person can get use of a $150,000 car for two-four years and pay less than $50,000 out of pocket if that person choses not to buy at the termination of the lease."
I'm not sure I understand that sentence. With money down you could come close to that out of pocket amount for two years. Not even close for four years. Buying or not at the end of the lease is insignificant in the cost valuation being discussed.
Again, all it takes is a link showing that dealerships rent new $150,000 cars for the "high hundreds" per month. It doesn't happen.
Demovictory9
(32,456 posts)Blue_true
(31,261 posts)Of course they have to be "qualified" which means that if they destroy them and are at risk, they can afford to pay for the car.
Typically people that lease don't lease for more than 4 years, then they roll over to a newer model. Customers that are excellent leasers are allowed to roll over even earlier by dealers.
SideStep
(93 posts)Possibly with over $30,000 down. It would really be more than that down. And non-refundable.
The op is talking about a $150,000 car. Not a $70,000 luxury car that you can lease for the numbers you mention with $5,000 to $8,000 down.
Blue_true
(31,261 posts)Even a car like a Ford Fusion can run into the hundreds for a weekly rental. The same car rented from a dealer would run $200-$300 per month, at the most. A Mercedes would run hundreds more per month, but still within reach for some people that want to drive that type of car.
Like I wrote. I prefer a normal car and a pickup truck with a big bed. Hauling trucks for business, but that is not a personal use thing. As far as a personal vehicle is concerned, I don't want to come out of the grocery store and shit my pants because someone hit it with a vehicle door - so I stay away from having expensive personal use stuff.
SideStep
(93 posts)And the link I provided shows somewhat high end vehicles going for hundreds per day. Even they aren't $150,000. You are the one who brought up rentals. I asked for a link. What you are saying does not happen.
Blue_true
(31,261 posts)the same as renting one from an auto rental company. Another person that seems familiar with luxury car leases explained to you where the cost typically fall, my understanding is close to that person's. Yet, you ignored that all. I am not defending luxury cars, personally I would use one only if being chauffeured, which would mean money-wise that the price of the car would be as inconsequential to me as me wiping my ass after a dump.
SideStep
(93 posts)"high hundreds" per month. It doesn't happen.
Blue_true
(31,261 posts)The car in the photo that was burning was a 2020 Mercedes AMG C Coupe, it is valued at $150,900. A qualified person can lease one for 36 months for $1,659 per month - way less than the "thousands" that you have been harping on. Leasers with excellent lease histories get perks beyond what other leases get, so they pay even less. Even at $1,659 per month, a person gets to drive Mercedes' top of the line vehicle for less than $75,000 over the term of the lease, and there are screwball tax write-off tricks that they can pull that a person that owns can't.
A really nice Mercedes S-Class sedan can be rented for $949 per month. Their sticker run around $104,000.
gollygee
(22,336 posts)Really?
uncle ray
(3,156 posts)you can kindly shove your "bullshit" callout.
a person does not need to be wealthy to buy an expensive car, it simply has to be a priority to them. many people make a fancy car a priority over other things. i've seen some very expensive cars parked in front of apartments and mobile homes, or in parent's garages.
i am middle class, even i could swing the payments on a 150k car if i wanted. my finances are in order. i owe nothing to anyone aside from my mortgage payment, which is quite modest. no, it would not be the smartest financial decision for me, but then again, neither is the money that i DO spend on building vintage cars, which is where my interest is, and where my disposable income goes.
the real bullshit is that some people think exactly who can afford an expensive car is a topic worth arguing over here and now. it's a distraction from the core issues at hand.
i'll not respond to the topic further.
.
Squinch
(50,949 posts)yes, even a person who leases that car, which they are saying is how all these regular joes do it (and for some reason they seem to think it is important for them to note that some of these regular joes are black ) has to have about $2000 or more extra money lying around each month and have so little need for that $2000 that they blow it on a car.
So yes, they need to be wealthy.
Doremus
(7,261 posts)Please tell us how poor people can buy a $150k car. I've got my eyes on a pink Lambo.
sir pball
(4,742 posts)Quick Google: "From $242,474, 2019 Lamborghini Huracan LP610-4"
Their top-end model is almost $670,000.
Six hundred seventy thousand dollars.
Dial H For Hero
(2,971 posts)Squinch
(50,949 posts)Celerity
(43,383 posts)Blue_true
(31,261 posts)Honestly, I would rather see them buy a decent car and give the rest to a charity, but a lot of people don't agree with that approach. It is their money.
Squinch
(50,949 posts)who are YOU to tell people how to spend their money.
Do you support raising taxes on the average citizen to pay for Medicare for All? If so, who are YOU to tell people how to spend their money.
Oh, and by the way, I am not telling anyone how to spend their money. I am giving my opinion that if someone spends $150000 on a car, they are obscene. And I stand by that opinion.
Blue_true
(31,261 posts)improve all of society.
You are popping off a specious analogy. Fair taxation of high earners is not the same as preventing some bozo that has more money than brains from wasting it on meaningless shit.
Squinch
(50,949 posts)If you think they should be spending it on more important things. As defined by you.
And yet you have a problem with me voicing an opinion about the fact that a $150000 car is obscene.
Blue_true
(31,261 posts)But if a bozo pays fair taxes then want to waste some of what's left on trivial shit, I say let them knock themselves out - hopefully one day they will discover how meaningless such stuff is.
Squinch
(50,949 posts)not demand that others tell you who they think they are when they do the same.
Blue_true
(31,261 posts)Dial H For Hero
(2,971 posts)Squinch
(50,949 posts)And enjoy your stay.
Initech
(100,076 posts)Initech
(100,076 posts)aikoaiko
(34,170 posts)...some men aren't looking for anything logical, like money. They can't be bought, bullied, reasoned, or negotiated with. Some men just want to watch the world burn.
Initech
(100,076 posts)Trump and the MAGAs want to do just that, and it seems they are getting their wish. Alfred was so right!
Skittles
(153,160 posts)JCMach1
(27,559 posts)There are thousands of businesses hurting with shady owners with more insurance than morals