Originally Posted by LabelKing
You can buy a BMW 2002 for $7000.
Isn't that for something in the 3 series? And even then, I think you'd be getting a great deal for a 2002 BMW for $7000.
I guess this situation is unique in that owning a car is a huge disadvantage to someone living in NYC. Even leaving aside the insurance costs, parking the car will probably be at least $400 a month in most decent manhattan neighborhoods (i.e. where the car is accessible within 5 minutes of you thinking, "I want to drive it right now"). So that's $5000, right there. That's a lot of money to be spending for easy access to a car that, frankly, you will not use every day.
This was basically my thought: Let's assume that I have enough free time to drive a car about twice a month, for 2 day weekends at a time (on average). That's 48 days out of the year. If I rent a car from Hertz, the cheapest I can get the car is about $80/day, which doesn't include insurance, and getting their subcompact car, like a Pontiac Grand Am or something of that ilk. If I upgrade to a midsize, like a Buick, and get insurance, I can look to about $110 to 120 range. Assuming about $100/day, I'm spending something like $4800 a year.
The car club seems to imply that a standard membership will get you about 30 to 40 days a year. If you're paying $8500 to join for the first year, essentially you're paying a premium of $3700 a year (or approximately $77 for every day of rental) to drive cooler cars and having good insurance coverage.
And while I surely can use the money for more practical stuff like feed the needy, support the arts (read: Cleverley), or a gambling binge starring Mr. Daniel and Marlboro Man, it seems kinda cool to do for a year or two, when I have no girlfriends giving me a look of disdain for frivolous spending.
I think if you like driving cool cars, it really doesn't sound that bad. When else am I going to drive a '72 Jaguar outside of Gran Turismo 4?
I thought the possible pitfalls may come from (1) Lack of availability in a practical sense, (2) takes more trouble to get to the rental place than the local Hertz, which is 3 blocks from my apartment, and (3) me miscalculating/leaving out an important expenditure associated therewith.
But I still can't shake the idea of a weeklong driving tour through Maine on crisp Autumn days in a 1965 AC Shelby Cobra
Craziness? Lunacy? Blinded by the prospect of cool cars?