Hypo: would you rather have a luxury car or a luxury ring?

[Sunstorm]

Missy ditto. They always advice to calculate PPW. Say I may spend 1000 on a pair of boots but how many wears will I get out of them? A lot. If I spend say 5000 on a ring and wear it every single day, it is a pretty good deal I would say. OTOH; if I got a car that sits in my garage or a purse that I never wore in five years, it was most likely a mistake although sometimes I can start wearing purses and shoes years later too. With a car, I just would not get so much enjoyment out of it and do not forget that you would mostly be inside your car and not looking at it from the outside, whereas we love rings also because we can peek down at them like a hundred times a day. Cars are to show off, others may enjoy seeing their silhouettes, rings, we do and others do too.

 

[September_Blue]

I've had the luxury car and the maintenance cost on a BMW far surpasses what I, until that point, would spend on a ring. Now I have a Toyota Highlander and am going balls to the wall on my ring.

Also, like FD said...it's a diamond forum...

 

[bludiva]

I view a car as a need. I like one that is reliable and comfortable for me, as I drive with my left leg only (and hands). I don't give a Tinker's Cuss about an "Infotainment Center" as I PROUDLY do not own a stinking cell phone and never will. (Don't get me started.) I have more $ in watches than in the last 3 cars I have owned. Is it logical? No. Am I Mr. Spock?

I think high performance cars encourage people to drive irresponsibly at a risk to themselves and others. Traffic laws need to be more strictly enforced. I say so since I lost my leg whilst driving my motorcycle and I was hit by an inattentive driver.

Luxury doesn't always mean high performance though. I speak of the snoots in their miserable McLarens, Ferraris, etc. There is a local exotic car club where owners of those cars blast around on GTG's. A couple of years ago they were clocked going 110 on a BUSY local Interstate 5 miles from downtown. Fancy lawyers got most of them off.

Rant off.

My favorite rant subjects:
Flippers (solely motivated by greed)
Smell phones
Lawbreaking drivers

i am sorry about your accident, we let bad drivers get away with too much. i had a motorcycle and a scooter and got rid of both. i'm afraid of the drivers here who just don't pay attention. i miss the scooter still sometimes. i am paranoid when i ride my bike too but not willing to give that up.

 

[mrs-b]

If the budget is fixed, then I dont see why things can't be rejigged. Why not a 15k ring and a 25k car? Perhaps you have a specific car in mind? But if I were askingmy girl to compromise on her ring, then I'd have to be willing to compromise on my car. So - I stand by 15k for the ring and 25k for the car. You can get a nice ring for 15k and a nice car for 25k. Neither are top of the line or even close. But both are nice, and that's good enough.

 

[Essovius]

C: $8,000 on engagement ring. $15,000 on a, by my reasonable standards, nice vehicle. $17,000 on experiences.

 

[diamondseeker2006]

Yes great points. Here is my order. When spending money and of course the stage one is in in life is critical and will change the makeup of this list. But in general here is where my priorities were when I was young.

1. Education
2. Home
3. Luxury items
ER first of all the luxury items.


And within each category is a range of quality and expense and that is where our preferences play the role in our choosing what is most important to us re our spending dollars. Most bang for the buck if you will depending on your preferences. So while a car is necessary for many of us and might take priority over Jewelry you can opt for an inexpensive car and spend the extra saved money on your diamond.

I'd just add emergency fund and retirement savings before #3. I don't think anyone should be upgrading diamonds if they have debt other than a mortgage or have not been saving for retirement. I see people here selling things sometimes because they have unexpected expenses, but I think most of those should be anticipated and covered by emergency savings. I realize there are major things such as divorce or death of a spouse that would be very different. But things like car repairs or dentist bills shouldn't necessitate selling jewelry.

 

[missy]

I'd just add emergency fund and retirement savings before #3. I don't think anyone should be upgrading diamonds if they have debt other than a mortgage or have not been saving for retirement. I see people here selling things sometimes because they have unexpected expenses, but I think most of those should be anticipated and covered by emergency savings. I realize there are major things such as divorce or death of a spouse that would be very different. But things like car repairs or dentist bills shouldn't necessitate selling jewelry.

Yes definitely. It’s not a comprehensive list by any means. But emergency fund and retirement fund are non negotiables. As are health insurance and a few other things. No question that takes priority. And I agree completely I would never spend money I didn’t have for any jewelry. No Jewelry is worth going into debt.

 

[Diamond_Hawk]

In my youth, the car would have won as I raced autocross. Though, at the time, I raced restored Porsche 914s. I held on to that fast and fabulous car need until I recently bought a minivan to deal with kid and life. So, the ring would win hand's down. That said, my tricked out mini-van was $35k just a few years ago...

I'm learning interesting things about PSers !! Very cool.

 

[cflutist]

I also look at PPW. Price per wear. I enjoy and wear a ring a whole lot more hours than the time spent in my car. And as long as the car gets me from point A to point B it has served it’s most important purpose. The Diamond brings me endless beauty and enjoyment. (YMMV).

However I wouldn’t mind one of these babies if I had more disposable income.

I don't know anything about cars but dear hubby has a 69 Jaguar XKE that he brought over to my house in 1995 where it has been sitting in my 3rd garage ever since. I wish that either he would restore it or sell it but I have discovered that he is a packrack.

 

[baby monster]

I don't know anything about cars but dear hubby has a 69 Jaguar XKE that he brought over to my house in 1995 where it has been sitting in my 3rd garage ever since. I wish that either he would restore it or sell it but I have discovered that he is a packrack.

Last season of Jay Leno's Garage had an episode on old cars and they said unrestored cars in original condition are now valued more than restored ones. So put that baby up for sale!

 

[missy]

I don't know anything about cars but dear hubby has a 69 Jaguar XKE that he brought over to my house in 1995 where it has been sitting in my 3rd garage ever since. I wish that either he would restore it or sell it but I have discovered that he is a packrack.

Oh I bet it's gorgeous! I had the opportunity to buy a gorgeous MG that was fully restored (the whole engine was rebuilt so in reality it didnt have the MG engine but a much better more reliable one and the price was so fair but I just don't think I could drive a stick well especially with all the stop and go traffic where we are. Plus AC is critical for me.

Yes, put it up for sale if your dh doesn't want to drive it. I am sure it is a beauty! If you don't mind sharing pics would love to see it.


OK I found pics of the MG that was for sale that I was so tempted to buy!

 

[Starfacet]

B

 

[Starfacet]

Between a car and jewelry I will always take diamond (or top gemstones), for all reasons previously mentioned.
But if the choice is between a French chateau and jewelry....the house wins. Unless we’re cash poor and can’t afford the maintenance....then give me the diamonds

So glad I have found my soulmates @leukolenos and @MonkeysInk!!!

 

[rockysalamander]

I'm learning interesting things about PSers !! Very cool.

I was lucky...my dad was a ferrari mechanic; my younger brother and I both raced. Two very similar cars with two very different driving styles between he and I. We traded placements for our entire racing career based on the race course and the other drivers. I drove many a high-end sports cars on closed tracks long before I was street legal. One the cool parts of my childhood.

 

[metall]

I was lucky...my dad was a ferrari mechanic; my younger brother and I both raced. Two very similar cars with two very different driving styles between he and I. We traded placements for our entire racing career based on the race course and the other drivers. I drove many a high-end sports cars on closed tracks long before I was street legal. One the cool parts of my childhood.

@rockysalamander You have just become, by far, the coolest person I "know." That sounds soooo exciting!

 

[Bron357]

And when you’re like me......
“Aren’t I worth $3 a day, that less than the cup of coffee you buy!”.
Sometimes maths can be your friend...
$3 x 365 (days) x 40 (years) = $43,800!

 

[LJsapphire]

No question I'd go for the more valuable ring. A car loses value immediately and has a finite life. A diamond lasts forever. So I'd spend as much as I could for the biggest best diamond I could afford.

I'd say car, I spend a lot of time in my car. But I have a 40k car for 15k (over 3 years) on lease. Yes I'll have to give it back but the maintenance is included and before my Merc I had a 14 year old Honda.

So we could say, get a good deal on the car and spend more on the ring. Or the fact that the car is a constant expense (see it as more sense to rent than buy as they only depreciate anyway and the cost is less than the depreciation over here).
But my ring didn't cost as much as option a with the more expensive car anyway. I'd probably go somewhere in the middle.

 

[diamondseeker2006]

Last season of Jay Leno's Garage had an episode on old cars and they said unrestored cars in original condition are now valued more than restored ones. So put that baby up for sale!

Well, since you mention it, my husband has an acquaintance in the car world near us who is highly involved in antique cars (he has some kind of a charity car show every year), and he recently found an old Cobra and Ferrari in original condition (as well as other cars) in an old garage in our state. Selling price for those 2 very recently was over $3.5+ MILLION combined!!! So, SOME cars DO GAIN in value...A LOT!!!!

http://www.dailymail.co.uk/news/art...ts-cars-abandoned-garage-sell-3-5million.html

article by the finder....(I am not generally interested in cars, but this was like us discovering Liz Taylor's jewelry box at GoodWill or something. *almost, but not quite.)

https://www.hagerty.com/articles-videos/articles/2018/01/24/ferrari-and-cobra-barn-find

@rockysalamander

 

[cmd2014]

I think the ring vs. property argument or ring vs. experiences argument makes it more difficult. My financial priorities have been:

Education
Safe, reliable vehicle (I tend to drive my cars 10 - 12 years post purchase, and take good care of them)
Home (aiming to be mortgage free in 4 years, which puts us 10 years ahead of schedule, despite buying a much larger house five years ago)
Emergency savings fund
Retirement savings (my FIRE plan might actually work if I'm diligent here)
Travel (vacations, time spent with family as my family lives far away)
Bling (a far distant last).

Given the choice between a pied au terre somewhere lovely and an equivalent priced diamond ring, I'd probably take the vacation property. Rent it out most of the time as additional income, and enjoy it the rest of the time. But the upper limit of my spending comfort for a ring would be way lower than any vacation property would cost.

 

[MTHealthyLiving]

Um, I dont consider $35k a luxury car. That wouldnt even buy my Toyota Highlander which happens to be a nice car but by no means
luxury.

Edit...I guess my choice would have to be A because you can only get a used car for $15k and not
really sure how great the specs are going to be (low mileage, seats 4 comfortably...etc).

You can buy a used Highlander for 30k... I did. I’d rather have a 30k car than a 30k ring. I’d be afraid to wear a ring that expensive. Plus I’m pretty sure everyone would think a ring of that magnitude was fake. Lol!

 

[rockysalamander]

Well, since you mention it, my husband has an acquaintance in the car world near us who is highly involved in antique cars (he has some kind of a charity car show every year), and he recently found an old Cobra and Ferrari in original condition (as well as other cars) in an old garage in our state. Selling price for those 2 very recently was over $3.5+ MILLION combined!!! So, SOME cars DO GAIN in value...A LOT!!!!

http://www.dailymail.co.uk/news/art...ts-cars-abandoned-garage-sell-3-5million.html

article by the finder....(I am not generally interested in cars, but this was like us discovering Liz Taylor's jewelry box at GoodWill or something. *almost, but not quite.)

https://www.hagerty.com/articles-videos/articles/2018/01/24/ferrari-and-cobra-barn-find

@rockysalamander

So cool. My dad has several in a garage himself, including an Austin-Healey. He is a fan of minimal restoration and will spend ages to find original parts.

You can buy a used Highlander for 30k... I did. I’d rather have a 30k car than a 30k ring. I’d be afraid to wear a ring that expensive. Plus I’m pretty sure everyone would think a ring of that magnitude was fake

Value and size/flash to lead to such speculation are not always connected in the jewelry world.
https://www.1stdibs.com/jewelry/rin...litaire-ring-circa-15th-century/id-j_2822513/

 

[tyty333]

You can buy a used Highlander for 30k... I did. I’d rather have a 30k car than a 30k ring. I’d be afraid to wear a ring that expensive. Plus I’m pretty sure everyone would think a ring of that magnitude was fake. Lol!

But you cant buy a relatively nice used highlander for $15k...that's the problem with this question. I have to drive the family car. It has to hold 4 people +
luggage and be reliable enough to drive long distance trips. I'm sure if I didnt mind my family suffering on long distance trips I could find something for
$15k but the trade off is not worth it to me. It would be selfish on my part. I'm not really a car person. I just want it to be reliable, get from A to B, and
half way decent on the inside. I really dont need a bunch of gadgets. My new highlander has options on it I'll never use:roll. I drove my Honda minivan for 10 years. Unfortunately, we were going to have to put $2k+ in to it at that point to fix the AC/tires/check up so we made the decision to trade it in.

Now, if it was only me and I didnt have to drive the family car...who knows what my answer would be. I'm sure it would be somewhere in between the 2
extreme options because a typical $25k ring in my area would be just too much. I know ya'll cant believe I said that !

 

[Tourmaline]

I would go for the luxury ring and average car. My car is not a luxury car at all. It's a mom-mobile minivan, and it cost $40,000. My husband would rather have the luxury SUV and a simple wedding band. (His car cost more than mine, and his ring cost less than mine.)

 

[Dancing Fire]

my ring cost 2.5 X more than my used 2005 Lexus LS430 which I bought 4 yrs ago.

 

[skypie]

Is that President Trump sitting next to that car?

Oh I bet it's gorgeous! I had the opportunity to buy a gorgeous MG that was fully restored (the whole engine was rebuilt so in reality it didnt have the MG engine but a much better more reliable one and the price was so fair but I just don't think I could drive a stick well especially with all the stop and go traffic where we are. Plus AC is critical for me.

Yes, put it up for sale if your dh doesn't want to drive it. I am sure it is a beauty! If you don't mind sharing pics would love to see it.


OK I found pics of the MG that was for sale that I was so tempted to buy!

 

[missy]

Is that President Trump sitting next to that car?

Haha not even close. That was the kindly older gentleman who so generously offered to teach me how to drive stick to see if I like it. He really was giving his car away the price was so fair! And it was meticulously cared for all these years and it was in pristine condition. So many reasons why it wasn't a good idea to buy it but oh I was quite tempted and it was so pretty. But no to answer your question this gentleman was not like Trump at all. He was and is a lovely human being. Trump OTOH well 'nuff said.

 

[Austina]

We only buy practical, safe reliable cars now, probably an age thing, and a big hairy dog thing

We still get to the same destination in a £30,000 car as a £60,000 car.

My DH is happy to spend 3 cts worth on holidays every year, so he’d say holidays and car, I say diamond and car, and go on the trips later

 

[Octo2005]

Sad thing is $40K isn't going to go nearly as far is you think it will. That goes for both cars and jewelry.

A car will loose value as soon as you drive it off of the lot and it is always a liability because even if it's paid off there is always maintenance expenses.

 

[dumbo]

Say you were about to be engaged...and your man offers you this choice:

(A): $5000 engagement ring + $35,000 luxury car

or

(B): $25,000 engagement ring + $15,000 car

Which would you pick? Assume you don't currently own a car and need one and that you don't already own any pricey jewelry?

I bought my wife a nearly $30k engagement ring, and at the time, drove a 15 year old pickup worth about $10,000. I have since upgraded to a 7-year old pickup worth about $16,000.

The definition of "luxury" car really isn't met at that price point. There isn't much difference between, say a Mazda CX5 touring and a BMW X3, except for around $15,000. Now, if we are talking a slightly used Porsche 911 and a ring, I would define that as "luxury" but the price differential is 2x or more what you had originally posted. My wife is fortunate enough to own a 2013 911 Carrera S cab, and if you asked her, I bet she would choose the engagement ring over the 911, because of what it means to her, and she gets to see it each day, all day. The car gets driven a couple of days a week, 150 miles or so, as it isn't her daily.

 

[LaylaR]

Hmm. 40K total. Well, the car I'd love to have is 33k. So that leaves 7k for a blingtastic CBI 7 stone. I can live with that.