
Ask HN: How can I convince my friend not to buy that new car? - _lol
So my good friend is mid-20s, recently got a full time gig as a SWE. He is usually a rational guy, but somehow convinced himself an SLK will improve his quality of life.<p>He just got out of debt too, and is getting a personal loan @ 15% p.a to finance said car - no savings.<p>How do I prevent him from making a terrible mistake?
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fpoling
I also know a SWE who bought SLK despite all rational inputs from friends and
relatives. Then in 3 years he changed it into VW Passat after he married and
his wife was expecting a kid. That cost him some money as he needed to sell
the car relatively quickly.

If your friend cannot be stopped getting a fast car, try to convince him at
least to get Tesla which is faster than SLK and can be used as family car.

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CyberFonic
A Mercedes will mostly be more impressive than than a mere Tesla.

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CyberFonic
You probably can't.

The bottom line is that he appears to be an impulsive type of person.

You could try rational, logical arguments and they probably won't work. You
need to understand his motivations about who he wants to impress. "Quality of
life" might refer to who he wants to impress and what he thinks the new car
will reflect upon his image. You might try to make him see that this is not
the best path towards that goal.

Is it really going to be a "terrible mistake" or a learning experience that he
will look back upon as another adventure in folly.

As a SWE he might pay it off quickly and having scratched that itch. It might
be the motivation he needs to excel down the track or a passing fad. As a good
friend you probably will be there to help him pick up the pieces if it comes
to that.

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Nasrudith
Nothing short of excessive and counterproductive measures can stop him per
day. Best I can see is trying to find a good enough car for far cheaper if
things like the margins on autoloans and the absurd "times the same car
sticker price would be paid for new in the pay off period".

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nurettin
Paying things with credit instead of savings is a /terrible/ mistake?

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stevekemp
Paying 15% interest is a terrible mistake, yes. Especially for a depreciating
asset like a car.

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nurettin
Depreciation is a concern if you are intent on selling said asset. If the
credit deadline is one year, said friend will only pay 15% more and get to
actually drive the car. That doesn't sound much like a terrible mistake, I've
seen much worse.

