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As a car guy, that can eat you up inside. As bitter as I sometimes get,
Don't let the bitterness strangle you forever. Adopt a 5 year plan to buy a 3 year old M3, and stick to it. So your goal would be $50k.
I go from one 5 year plan to the next.....the last 5 year plan extended to 9 year plan....but the result was a classic Italian exotic like I always wanted, a Lamborghini Diablo Roadster
How did a guy of relatively modest means for an Italian exotic get there? EXTRA INCOME, not from sacrificing other things.
I was constantly on my boss about getting overtime ($70,000 over 9 years) and worked weekends on side jobs ($30,000), and sold un-used vacation time back to the company ($20,000).
Now 2.5 years into the next 5 year plan.
I challenge you to devise a realistic plan and start following it
As for people who will say there are fun cars for cheap, that's probably true. The 2 cars I've always wanted are expensive.
Subaru wrx sti
BMW m3
Used M3's and used BMW's in general aren't that expensive. They may be pricey when they first hit the showroom but beamers lose their value much much faster then most other cars.
I've driven cheap 5-10k cars my entire life, and it just doesn't give me the feeling I selfishly seek.
I know that feeling. How about a motorcycle? A Suzuki GSXR1000 can be had for less then $5k and will pull so hard you feel like you're going to get ripped off the back of the bike.
Location: Formerly Pleasanton Ca, now in Marietta Ga
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To the OP
after reading through everything I believe in the end you are going to do what you want to do. Plenty of rational reasons were put forth why you shouldn't do it and you have countered with reasons to still do it.
In the end you need to balance what makes you happy and what makes sense.
I have spent money on a lot of high end cars myself, more than I should have. But then to counter it I cut on expensive meals, outings, travel, entertainement, etc. I've bought Porsche, Ferrari, Lexus, Infiniti, and the fastest car I ever owned, a supercharged and nitroused dodge viper. The trick for me besides sacrificing other things was to buy used.
I know you said you wanted the experience of a new car, but is the price of that experience so high you will never get it?
I just saw a survey where new cars were shown their depreciation in year one. I am looking at Mercedes SL's now.
So a new one costs say in the $80k's. In one year it will lose over 40% of it's value. That's $32,000. There's no way I'm taking a hit that large so I will not have the pleasure of owning one.
Unless . . . . .
I can buy one 2 years old in Mint condition for probably mid $30K. Still under warranty, looks like it's brand new, and be the envy of my friends with $45K in my pocket.
All my friends asked how I could afford all those nice cars and when I told them what I paid, they realized I was into less $ than they were for their brand new Chevy or Dodge they bought.
You new car will be new only for a moment and then it's used. $45K goes a long way to your retirement fund. Yes you will get a smug feeling of owning a new car for a brief while, but driving almost brand new and having lot's of extra $$ will make you not only feel smug, but smart too!
To the OP
after reading through everything I believe in the end you are going to do what you want to do. Plenty of rational reasons were put forth why you shouldn't do it and you have countered with reasons to still do it.
I'm just playing devils advocate. The fact I've had my license for nearly 18 years and never owned an expensive car shows I'm frugal. When it comes down to it, I probably don't have the heart to ever buy a brand new car, as it's one of the biggest ripoffs ever. It's nice to dream, though.
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