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From what I saw during my trip is useless - unless you want to visit close neighborhoods -
It depends heavily on what your lifestyle is like - do you have... - the space to park/store a car? Either street parking or inside/on your premises? Or would it be at least a remote parking facility where you'd travel to? - the need to drive somewhere outside of the city? For vacation/personal reasons? - Do you believe the cost of ownership (depreciation, upkeep, parts, labor, service, insurance and gas,..) are worth it compared to just taking Uber/cab/public transportation? - Do you like working on cars, maybe? As a hobby it can be very useful, you can learn a lot about cars and yourself.
But generally speaking I would say No, it is not very useful in a crowded urban environment.
If you like or need cars for very specific occasions (family trip, recreational driving, track day..) you can either rent one or join a car/track club (i.e. for supercars or similar).
+1 SB buddy really thank you! This is clear and to the point!
You are welcome! I forgot something important though:
Very specific car models or brands appreciate in value because they are rare/collectors items, have unique technology incorporated or are just beautiful art (this can also be a rare barn find or an inheritance).
So a car might as well be or become an investment opportunity; the tricky aspect here is you would have to know the market or at least this vehicle segment really well and, to an extent, have enough appetite for risk along with good contacts in the "car scene". I am into cars and know guys who buy and sell cars as a full-time job. These are not "wheeler dealers" but they buy an appreciating asset, wait, and then sell them off to the highest bidders.
Just wanted to add this but I suspect that we in finance wouldn't have the time to carry this out.
Exactly. Great point man
don't get a car in NYC .... not needed
Buying a car around NYC (Originally Posted: 03/30/2013)
Anyone have a dealership recommendation?
I feel like there is a stealth population of gypsies around here that must travel around from shitty dealership to shitty dealership to scam as many people as possible. Every single place around here has tons of fake reviews to drown out the reviews detailing the blatant rip offs.
Nothing in the city looks worth trusting, but I can't even find a place nearby that is worth renting a car to go visit. Lots of people have cars around here; where do they get them?
I'd recommend getting out of the city on the Metro North and going somewhere in Rockland or Westchester counties...maybe as far north as Mt. Kisco or Cortlandt Manor.
So many variables.... But don't purchase a car in NYC no matter what - you'll be ripped off (esp if it's used) The roads are salted/messed up all year, and any used car driven in NYC/Boros will undoubtedly have some sort of irreversible damage to the suspension/bushings/underbody. Also, cars are priced much higher in NYC than they are out of state. I bought my 2010 Lexus IS350 from a private seller in VA about 6 months ago for 10% less than what private sellers and dealers wanted for a comparable car.
BTW, penfed has a 1.49% financing deal going on right now (highly recommended)
I've been debating how far is worth traveling for a car, especially when the car might not be good enough in person. VA is pretty far, but Lexus deals aren't plentiful, so I can see how that was worth it. How'd the transaction go? My first car was from a private seller, but that was local and easy.
I was about to apply for the PenFed deal, but I saw 1.74 online last week. 1.49% is ridiculous. I was about to use it to get a decent econobox from the Hertz rental program (need a commuter with good mpg). Apparently a lot of people love it. Those cars might get driven hard occassionally, but they have the most routine maintenance you can find.
Cars of NY (Originally Posted: 06/26/2015)
Hi!
How common are "high end" cars in NY? I went there a couple months ago, and the best (imo) I saw was Mercedes SLS AMG. If you know any MDs, hedge fund managers, PE people etc.. What cars do they drive? I know this is kind of a dumb question, but just wondering... This is monkeying after all.
Thanks!
You're looking in the wrong place. Go to Greenwich, CT
wtf is NY? New York state?
I've seen plenty. Were you walking around Times Square the whole time?
I saw a Veyron driving down the West Side Highway. I've seen countless Ferrari's and Lamborghini's, some of them even just street parked. The only things that I haven't seen are the really rare cars like a koensigigigigig and a Pagani and stuff like that.
I ment Manhattan.. Sorry I live in Europe. What about Greenwich then? What are the most common cars driven by HF managers etc. (People who are in powerful positions in finance). The reason why I'm asking this is because my friend keeps telling me that "ballers" in finance drive mostly cars such as Bentleys, Maseratis, Ferraris and so on... In my opinion most common is MB S-class. I'm 15 and we actually argue about things like this.
Ok! Oh and by the way, I have HF in my profile because I'm very interested in that field. So if any of you work there (or know someone who does), please tell me what should I do to get there (what should I study in college etc.).
Does anyone drive a G-wagon, or is it just too ridiculous? Oh and why is it that so many people from finance live in Greenwich?
Because its like 45 minutes from nyc and that's where all the rich people go to raise families. Or where their maids raise their families, actually I don't Know I've never been there...Axu is a troll
Wowee, someone owns a G-wagon!!
The best reason not to own a car in NYC? (Originally Posted: 12/28/2010)
Ok, so most everyone agrees that cars in the city are most pointless because of the expense, your long hours, etc., especially at the junior level. If, for some reason, that insight wasn't convincing enough, then there is always this...
WARNING: this video contains language that is likely not safe for work (NSFW)
Regards
some people should just stay unemployed
Hilarious.
I hope he has good insurance
At least this guy's got proof to back the owner up. I loved the narration too.
Yea, props to that guy, seems like he will have no problem handing over the evidence haha. On a side not, why did the driver, his fellow drivers, his supervisor, and their manager NOT think to put chains on those tires? I mean, come on, that's just common sense for anybody who has worked in transportation for more then a week,
the best part is that their union will protect them, and the damages will be paid with tax payers' money.
These guys make about as much as a first year analyst, that's the sad part, lol.
It kinda looked like some sea creatures mating. Maybe a blind lobster accosting an elderly halibut.
Did they not even leave a note? What a bunch of douche bags.
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