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As cars have become more and more expensive I am wondering what you in your personal opinion consider the definition (in $ terms) of an "expensive" car. I know each one will have their own definitions but i'm wondering if one $ range is the most commonly accepted.
Being an auto enthusiast and making a good living I could easily find myself throwing away lots of money on fast depreciating cars. So to reign that in a bit I set a hard cap of $25k otd new or used. So I guess my answer is $26k.
As cars have become more and more expensive I am wondering what you in your personal opinion consider the definition (in $ terms) of an "expensive" car. I know each one will have their own definitions but i'm wondering if one $ range is the most commonly accepted.
I just bought a brand new car for a hair over $27,000 OTD. I thought that was a crapload of money to spend on a car, but it's nice, has leather seats and everything, drives fantastic and I love it, much much nicer than the 13 year old truck that is replacing... but other times I think of how much money that actually is and it makes me sick to my stomach. In any case I am in my early 40s and don't plan to buy another car ever again in my living life and plan to keep this one till the wheels fall off so I guess it's not too bad. I know cars are generally one of the most fiscally imprudent ways to spend money but you have to balance it with some enjoyment in life I guess.
I'm fortunate enough to make an above average income, but I have a sort of mental block that forbids me from paying more then $300/month for 5 years on any car purchase that I use as my everyday car.
So anything over that is an expensive car to me. I just don't see the value in spending that much money on something I used for 5-7 years and then get rid of for much less than what I paid.
Now my weekend/hobby cars...different story, but that's a hobby to me...not just a car. I usually spend more than a typical car payment on that a month for parts, tires, superchargers, etc.
I guess about $80,000. I would not pay that, and not likely even half that, but cars I consider pretty common are in the $60K range when new (like my pickup). Which is one reason I do not buy new cars. So, to me, "expensive" would mean uncommonly expensive. Or too expensive for me to ever buy. Or the cost of a CTS - V.
I would say an expensive car is at least 55,000. No way is a Honda Pilot an expensive car. That way most of the midsize high volume SUVs fall under the cap.
I don't think of cost in absolute measures. For me an Accord in the low 30's is acceptable.
When I look at something like the new Jag Fpace (which is a beautiful CUV IMO). The entry level of $40k is a decent value but you're getting a stripped 4 cylinder under-powered diesel. If you add on all the safety features, premium paint, supercharged v6, infotainment options you end up with a fully loaded vehicle pushing $75k.
For me the sheet cost and pricing power of these options are out of control expensive. It used to be the Porsches and Mercs of the world doing this. Now it's everyone!
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