Range rover 2014 autobiography long wheelbase samurai
•
In 2002, at age 25, I foolishly bought a new luxury car, a Mercedes Benz G500. I had just gotten a raise and a promotion to Associate. Why not YOLO and feed my car addiction at the time? Dumb.
The G-Wagon cost $78,000 out the door, which was actually a good deal at the time. Just a year prior, a dealership in Santa Fe with import rights was selling G-Wagons exclusively for $150,000+.
A year later, I sold the car for a $18,000 loss because it wouldn't fit in the garage of this condominium I wanted to buy. It was two inches too tall for clearance!
I decided it was more responsible to buy this two bedroom, two bathroom condominium facing Lafayette Park than keep owning an expensive car with a $760 a month car payment. This is when my love for real estate, my favorite asset class to build wealth began.
After taking a bath on my new luxury car, I swore never to buy another again. When you're on your path to financial independence, having a nice car is the last thing you need!
New Luxury Car Prices Are Outrageous Today
After the G-Wagon I went the complete opposite direction and bought my mom's 1997 Honda Civic for $7,500. I then went through a series of other cars, including a 1997 BMW M3, 1995 Nissan Pathfinder, 1983 BMW 635 CSi classic, 2001 Land Rover Discovery II, and
•
•