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Old 06-11-2016, 07:50 PM
 
422 posts, read 570,600 times
Reputation: 426

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Quote:
Originally Posted by charlygal View Post
If you consider a $600 car payment as "living," then do your thing.
I consider driving a car I love that puts a smile on my face to be living. Obviously $600 car payment is a kick to the groin, though.
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Old 06-11-2016, 08:23 PM
 
12,999 posts, read 18,791,353 times
Reputation: 9236
Cost of cars + motorcycles + boats should not exceed half your annual income. As long as your income is at least $86K you should be fine.
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Old 06-11-2016, 08:43 PM
 
422 posts, read 570,600 times
Reputation: 426
Quote:
Originally Posted by pvande55 View Post
Cost of cars + motorcycles + boats should not exceed half your annual income. As long as your income is at least $86K you should be fine.
Seems kinda reckless
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Old 06-11-2016, 09:01 PM
 
788 posts, read 750,159 times
Reputation: 1679
Quote:
Originally Posted by tonybarnaby View Post
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
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Old 06-11-2016, 09:07 PM
 
1,701 posts, read 1,860,013 times
Reputation: 2593
Quote:
Originally Posted by tonybarnaby View Post
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.


2004 BMW M3 Coupe 6Speed Manual Transmission (RARE) - Locals Only


I say splurge within your means and go get a used version of the car you want. Life is short.
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Old 06-11-2016, 09:09 PM
 
788 posts, read 750,159 times
Reputation: 1679
Quote:
Originally Posted by Fargobound View Post
Eating ramen to own an M3 or a WRX is just insanity.
Not a car guy obviously....I'll eat the package the ramen comes in if neccessary
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Old 06-11-2016, 09:12 PM
 
788 posts, read 750,159 times
Reputation: 1679
Quote:
Originally Posted by rbohm View Post
OP, its time that you realize that your goal of owning something expensive isnt going to happen, and set your sights rather lower. .
Geez, glad this kind of person isn't in my circle of friends
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Old 06-11-2016, 09:15 PM
 
1,701 posts, read 1,860,013 times
Reputation: 2593
Quote:
Originally Posted by tonybarnaby View Post
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.
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Old 06-11-2016, 09:24 PM
 
Location: Formerly Pleasanton Ca, now in Marietta Ga
10,276 posts, read 8,435,178 times
Reputation: 16488
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!
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Old 06-11-2016, 09:37 PM
 
422 posts, read 570,600 times
Reputation: 426
Quote:
Originally Posted by aslowdodge View Post
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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