There used to be a rift between luxury cars and sports cars. I suppose the old definition for a luxury car was an expensive, leather-trimmed boat on wheels while that of a sports car was an expensive, two-door coupe or convertible... As far as I know, neither was known for having all-wheel-drive. Then again, I haven't been around that long so I'm purely speculating.
Jason Hartman of Bloomberg News wrote an intriguing article after testing the new Volvo S60 AWD. In his article, Jason raves about the Swedish-made car, which he formerly thought to be of a "boring" variety. In fact, a few of his associates had to convince him to take it for a spin... he then drove 100 miles and loved it! His experience got me thinking...
Take Cadillac, for instance. Cadillac has always been known to be a top-notch brand (i.e. "the 'Cadillac' of..."). However, it used to be known for models like the Deville, a boat-like luxury sedan with massive trunk space and plenty of leg room and dashboard space that my grandparents drove for decades. But even my grandparents' taste for Cadillac has evolved as the former luxury vehicle company continues its re-branding campaign geared toward a more youthful crowd. Being that my grandparents are still young by modern standards of the generation, they opted to trade in their Deville for a brand new, all-wheel-drive Cadillac CTS Sport. Drink that in for a second... "Cadillac", "AWD", "Sport"... What is that?! It's awesome, that's what it is! That's the type of car that trims years off your age while keeping you pinned to the back of your seat on straight-aways. By the way, it has a leather interior, satellite radio, and all the bells and whistles the Deville used to have. Amazing!
Hartman was commenting on the evolution of the "Sport Sedan" without even knowing it. He was impressed at the turnaround of Volvo, but didn't seem to notice that Volvo isn't the only one changing the game. The players, for the most part, are the same car makers of old, but the rules of the game have become much more complex over the years. Another example, Porsche! Porsche came out with the Cayenne a few years back, and even though it is categorized as an all-wheel-drive SUV, it is in all other aspects a Porsche. Then they released the Panamera, the four-door, AWD Porsche sedan! And then there's Maserati, the adoring little brother of Ferrari, that came out with the sheek Quattroporte (four-door)! Even Ferrari is coming out with an AWD four-door!!! I wouldn't be surprised if Lamborghini brought to market a similar model, seeing as they've already mastered the AWD concept in every recent creation. Did I mention that most of these cars now come with optional automatic transmissions, satellite radio, bluetooth and premium speakers, in-dash navigation systems, back-up cameras, headrest TVs, etc.?
It seems like the line between "sport" and "luxury" has been completely blurred by innovation and evolution, and I love it! What's better than an ultra-luxury, ultra-sports car with 300+ horsepower and AWD taking you from 0-60 mph in less than 6 seconds, releasing a deafening roar that you can tune out if you want by raising the thickened windows, and can easily fit your spouse and kids for a long, comfortable drive? Nothing! Volvo, Cadillac, Ferrari, whatever. Count me in!
Thursday, April 14, 2011
Tuesday, April 5, 2011
Too Young to Settle Down?
I just had a great conversation with a close friend of mine about the difficulties of being young and trying to start an adult life. Each of us is twenty-something and engaged or, in his case, soon to be engaged. Fortunately for us, our parents were able to pay for our college degrees, leaving us virtually debt-free after college. We both realize the significant advantage that represents over millions of other recent graduates. I'm not sure about his soon-to-be fiance, but my fiance also graduated debt-free! The collective four of us still live at home with our parents in order to save money, with some of us paying a modest board to our parents (me...). Each of us has a $40k-$60k per year career, right off the bat. So with no debt, solid incomes, and minimal expenses, why does it still seem like such a steep climb to the top of a normal adult life?! Let's chat.
My father married my mother when he was 24 and she was 22 in the mid-1980s. My father had always been a hard worker throughout high school and college, earning enough for a down payment on a fixer-upper that he flipped for a decent profit right after graduation. So by using that profit and other savings during the engagement, my parents were able to put a healthy down payment on their first home together. About a year and a half later, I was born! So they were able to make mortgage payments, typical living expenses, and new baby expenses on what even in those times was a very modest combined income, and I was a fat baby.
At this point in my life, I find myself in a not-so-different situation. I'm 23 years old and will be 24 when married next year to a woman basically the same age as me. The issue is that while we are both debt-free, we chose an aggressive college career to compete in the graduate marketplace, including a full semester in pricey Europe loaded with travel that depleted what was then our savings. It helped to secure us jobs and will pay dividends in life experiences forever, but left us at ground zero last May.
Since then we've been working full-time. However, society (and my mother) wouldn't allow us to get engaged without a nice ring, so there goes several thousand bucks. Housing prices have gone down drastically in the last few years, but all that means is that we'll be able to get more space per dollar. We still need a whole bunch of dollars! Working in the financial industry, I realize the importance of a healthy down payment, but I'm comfortable with a down payment of 15% and securing a good rate about a year from now, if possible. Between now and then, though, my fiance and I have to save upwards of $40k-$50k as the remainder of our down payment.
We'll be able to do it because of all the circumstances I described above, but what if we were like the rest of our former classmates living in Boston (or other major city) in a small, expensive apartment, not making much at a typical entry-level job, struggling with massive student loans, and going out 4 or 5 nights a week? How can the "average" college graduate plan on settling down or starting a family before 30 nowadays?! Seems like society has it out for average youngsters these days with higher standards of living coupled with higher average prices.
My father married my mother when he was 24 and she was 22 in the mid-1980s. My father had always been a hard worker throughout high school and college, earning enough for a down payment on a fixer-upper that he flipped for a decent profit right after graduation. So by using that profit and other savings during the engagement, my parents were able to put a healthy down payment on their first home together. About a year and a half later, I was born! So they were able to make mortgage payments, typical living expenses, and new baby expenses on what even in those times was a very modest combined income, and I was a fat baby.
At this point in my life, I find myself in a not-so-different situation. I'm 23 years old and will be 24 when married next year to a woman basically the same age as me. The issue is that while we are both debt-free, we chose an aggressive college career to compete in the graduate marketplace, including a full semester in pricey Europe loaded with travel that depleted what was then our savings. It helped to secure us jobs and will pay dividends in life experiences forever, but left us at ground zero last May.
Since then we've been working full-time. However, society (and my mother) wouldn't allow us to get engaged without a nice ring, so there goes several thousand bucks. Housing prices have gone down drastically in the last few years, but all that means is that we'll be able to get more space per dollar. We still need a whole bunch of dollars! Working in the financial industry, I realize the importance of a healthy down payment, but I'm comfortable with a down payment of 15% and securing a good rate about a year from now, if possible. Between now and then, though, my fiance and I have to save upwards of $40k-$50k as the remainder of our down payment.
We'll be able to do it because of all the circumstances I described above, but what if we were like the rest of our former classmates living in Boston (or other major city) in a small, expensive apartment, not making much at a typical entry-level job, struggling with massive student loans, and going out 4 or 5 nights a week? How can the "average" college graduate plan on settling down or starting a family before 30 nowadays?! Seems like society has it out for average youngsters these days with higher standards of living coupled with higher average prices.
Monday, April 4, 2011
Kickstart
To begin, I'll just comment on a Thomson Reuters article I read this morning at my desk. Apparently Swedish automaker Saab has been in some big trouble recently... That's concerning because they make a decent vehicle. A good friend of mine is on her second or third Saab 9-3 and has always raved about the performance and handling. The features have always been ahead of their time as well. To be honest, they are one of the best deals out there, especially for slightly used models. The good news is that Russian venture capitalists are coming to the rescue to help parent company Spyker (maker of exotic sports cars that bought Saab from GM amidst the 2008-2009 financial crisis) with a Saab turnaround. Would we prefer Italian, French, British, or German intervention instead? Most likely, but saving a good brand is all that matters at the moment. The article also mentioned how next year will bring the broadest variety of Saab models ever, which is exciting!
In other news, the Indy Racing League has begun its 2011 season with last week's St. Petersburg, FL race. Dario Franchitti got the first victory of the season... Target-Chip Ganassi Racing is off to a great start for another promising season. Any real franchise challengers out there? I also read an excellent research report today on historical and projected Latin American stabilization. I'm sure I'm not the first to say it, but Latin America is far underrated in comparison to the typical emerging markets. Think about the virtual uniformity of language (neglecting dialectal differences, of course), the work ethic, and pure natural resources even without taking oil and coal into consideration! There are some very, very smart people down there coming up with some brilliant plans for the future, and I'm totally on board. Just look at Carlos Slim, a Mexican business tycoon and now the world's richest man by far! I wonder how many of you out there share my thoughts, and how many would contest that LatAm is definitely NOT the place to be?
Lastly but certainly not least, I recently asked the woman of my dreams to marry me! We are planning our honeymoon for the Dalmatian Coast of Croatia. Anybody been there, and if so, any tips for your fellow travelers? Should we book through an agency due to the nature of the trip, or should we still book on our own like normal?
In other news, the Indy Racing League has begun its 2011 season with last week's St. Petersburg, FL race. Dario Franchitti got the first victory of the season... Target-Chip Ganassi Racing is off to a great start for another promising season. Any real franchise challengers out there? I also read an excellent research report today on historical and projected Latin American stabilization. I'm sure I'm not the first to say it, but Latin America is far underrated in comparison to the typical emerging markets. Think about the virtual uniformity of language (neglecting dialectal differences, of course), the work ethic, and pure natural resources even without taking oil and coal into consideration! There are some very, very smart people down there coming up with some brilliant plans for the future, and I'm totally on board. Just look at Carlos Slim, a Mexican business tycoon and now the world's richest man by far! I wonder how many of you out there share my thoughts, and how many would contest that LatAm is definitely NOT the place to be?
Lastly but certainly not least, I recently asked the woman of my dreams to marry me! We are planning our honeymoon for the Dalmatian Coast of Croatia. Anybody been there, and if so, any tips for your fellow travelers? Should we book through an agency due to the nature of the trip, or should we still book on our own like normal?
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