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I could care less about the car I drive, and yes I could buy anything I want, personally I sleep better knowing that money is in the market earning more money
You're the one in a automotive forum saying you don't care about the car you drive .
I've been a car gal all my life, from the time I was a little girl with model cars, turned my dollhouse into a garage for my cars, could name every car on the road as soon as I could speak, etc. When I started making decent money, I had a string of luxury leases -- your Beemers, Cadillacs, Infinitis, etc. Not the most expensive models but certainly not the cheapest. Now I'm retired. I have an Acura lease with a year to go. I know financially I SHOULD get something cheap like a Corolla or Civic. But having driven my Mom's Corolla for a couple years after she died, I know I won't be happy. Yeah, it's probably some deep-seated insecurity on my part....or is it? To me, a car is not just something to get you from one place to another. I am super into cars and way into the details like the size of the wheels, fog lights, etc. Considering whether to blow the budget by getting something I really can't afford but will put a smile on my face every time I get in it. Just wondering if others are like this about their cars.
I'm all for having luxury cars and once you're used to them it is very hard to step down to a lesser class, but if you can't afford it... You can't afford it.
I'm assuming you're talking about picking up another luxury lease. If you do decide to "blow the budget" I think you're better off just outright buying a 2-3 yr old luxury model. Let someone else take the depreciation hit, and if it turns out you can't afford it, you can just turn around and sell it and buy something else that is more financially sensible.
I've been a car gal all my life, from the time I was a little girl with model cars, turned my dollhouse into a garage for my cars, could name every car on the road as soon as I could speak, etc. When I started making decent money, I had a string of luxury leases -- your Beemers, Cadillacs, Infinitis, etc. Not the most expensive models but certainly not the cheapest. Now I'm retired. I have an Acura lease with a year to go. I know financially I SHOULD get something cheap like a Corolla or Civic. But having driven my Mom's Corolla for a couple years after she died, I know I won't be happy. Yeah, it's probably some deep-seated insecurity on my part....or is it? To me, a car is not just something to get you from one place to another. I am super into cars and way into the details like the size of the wheels, fog lights, etc. Considering whether to blow the budget by getting something I really can't afford but will put a smile on my face every time I get in it. Just wondering if others are like this about their cars.
I consider an automobile to be a utilitarian purchase, and I think it's pretty foolish to spend more than you need to to get a vehicle that will not function any better, but will make you feel better while you're using it.
Still, you're entitled to buy what you want.
What makes me concerned, though, is that you seem to be saying not only that you can't afford a car at the level of luxury you want, but that it would "blow the budget". A foolish decision by someone who has the money to afford it is one thing, a foolish decision by someone who will be impoverished by that decision is irresponsible, plain and simple.
I'm all for people buying luxury cars if they want and can afford it. It's your money, not mine. You have different priorities. I wouldn't buy a luxury car, but that's me, not you.
Except, you admit you can't afford the car you want. I'll never advocate anyone buy beyond their means. Suffer through the econobox until you can afford the car you want. You'll survive.
Same deal with me Boston Mike. I have a new driver in my household, and even though our budget contrains us, I just enjoy the feel of the german high end cars. I spend a lot of time in a car. I like the way they are responsive and you feel the driving experience. To each of us, his/her own, I suppose.
But I would NEVER pay for one brand new, and detest leasing a car. I'll continue to do the same thing, even though it might be the definition of insanity!
OP, buy the car. Half of these knuckleheads wouldn't even know what a luxury car feels like because their idea of a luxury car is a late model Camry or other suck nonsense. I too love luxury cars and while I currently own a Mercedes E500, I'm already looking at a BMW 7 series next. Saving your money for a fictional retirement that may never happen is silly, and one car is unlikely to make much difference in the quality of your retirement.
If your young, spend the money now when you can really enjoy it. Nothing worse than an old guy driving a 500HP car down the highway at a roaring 45 MPH.
Also consider used....there are some excellent deals on very lightly used luxury vehicles. Most were very well cared for and have all maintenance records. The depreciation is steep and you can get a lot of car.
If you can afford it I feel like there is nothing wrong with an expensive car. Since you can't afford it I don't think it is a good idea.
I would encourage you to find other things to make you happy that don't cost money. It may help you to feel better and not put so much focus on a luxury car.
I am still quite young, but I have always had some infatuation with luxury cars. I live in an area that is very heavily car transport oriented, so you do see higher than average numbers of luxury cars to fuel the fire.
When I first came out of college, I made some terrible decisions with going out and buying a shiny new luxury car I could quite frankly barely afford. Wasn't putting money towards my retirement, etc.
I decided to dial back a bit, but still made a bad decision and leased a luxury SUV. In hindsight, I am not sure if it was an absolutely terrible idea - I don't think getting a RX lease for 12k/year for $451/mo is all that bad. But next time around I will probably jump on a CPO - especially since I have had the German vehicle itch lately as I've never gotten the opportunity to own one. To most, that may be considered a positive that I only have experience with Japanese luxury.
I am done taking the major depreciation hits for others though. But I will not get another luxury vehicle unless I am comfortable with paying for it in addition to my other obligations. Mainly my home and ensuring I am contributing a minimum of 15% of my income to my retirement/max out my 401K each year.
I pay cash for big GM bubble cars; body on frame with a V8, tons of leather and lot of seating space.
MPG? Who cares, I might put 5K on it in a year. I also drive a GM truck. I like cars but I am not stupid about them.
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