How much car would you buy if you were me?

[Anonymous]

Anonymous wrote:

OP, you don't mention if you have kids. If so, I think a crossover would be a good idea. Otherwise, get a sedan. Look at certified used luxury cars if you want to spurge for something nicer. A guy at the Lexus dealership recently said that families with $200K incomes typically spend $40-50K on their car, thus the popularity of the RX. But you don't have that income or savings, so I would spend less if you don't something large.

OP here. As a family, our income is over 200K, and our net worth is over a million. I was just posting my own numbers as that is what I go by in deciding on individual purchases.
And yes, I have a kid, but don't need an SUV or a crossover. What I need is to decide on the amount first, and figure out the make and model based on that.

[Anonymous]

Anonymous wrote:

Anonymous wrote:32 year old here. Over a million net worth. I bought a $25,000 car. For my 40th, I'd like a tesla, but have told myself ill only buy it if I can purchase it with an annual bonus.

Bottom line: It's a depreciating asset. Treat yourself to a spa day, or a dinner out or even a vacation.

Clearly a girly chick wrote this.

OP, I love cars and would shell out 40-60k if I were you.. esp if you spend an awful lot of time in it (i happen to)

Actually I'm a dude. But does it matter?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:32 year old here. Over a million net worth. I bought a $25,000 car. For my 40th, I'd like a tesla, but have told myself ill only buy it if I can purchase it with an annual bonus.

Bottom line: It's a depreciating asset. Treat yourself to a spa day, or a dinner out or even a vacation.

Clearly a girly chick wrote this.

OP, I love cars and would shell out 40-60k if I were you.. esp if you spend an awful lot of time in it (i happen to)

Actually I'm a dude. But does it matter?

DH just bought a Tesla for cash. First time he's bought a car that turns heads. The acceleration is unbelievable. That said, he's 51 so, OP, you might consider waiting a year and getting a nicer car. Why don't you browse online and see what sparks your fancy?

[Anonymous]

04/12/2013 10:53 Subject: Re:How much car would you buy if you were me?
Anonymous



Anonymous wrote:
Why not? I gave her a simple answer. Spend less, not more.


I agree wholeheartedly. We have an income over $850K and wouldn't spend more than $25K on a car.

Interesting. If all the millionaires around here drive Honda Accords, who drives the Rovers I see everywhere?

You don't get rich and stay rich by wasting your money on something that depreciates with every mile you drive. Is it any wonder that American's have so little saved for retirement. Our economy is in the crapper folks, it doesn't make any sense to "splurge" on an expensive car.

[Anonymous]

Anonymous wrote:Like I said...debt up to their eyeballs. Car/house/etc.

Not always. Some of us just like to spend our hard-earned cash on the nicer things in life. Once you've put money away for all the important things and donated a chunk to charity, you might as well enjoy it. You can't take it with you.

[Anonymous]

Anonymous wrote:32 year old here. Over a million net worth. I bought a $25,000 car. For my 40th, I'd like a tesla, but have told myself ill only buy it if I can purchase it with an annual bonus.

Bottom line: It's a depreciating asset. Treat yourself to a spa day, or a dinner out or even a vacation.

#humblebrags

LOL...

[Anonymous]

If you have $21K set aside for a new car, then clearly you should pay $21K for a new car. Easy!

[Anonymous]

Anonymous wrote:39-yr old female, about $140K annual income, $380K net worth, about $1500 in excess (income less expenses) a month. I have $21K target-saved for a new car. My car, an economy japanese vehicle, is at the end of its useful life, plus I'd like to treat myself for my 40th bday. How much money would you spend on your new car in my position?

I would buy a Prius if I were environmentally conscious, a VW Bug if I wanted fun and a convertable and a Honda CRV if I wanted an SUV.

Put the money to make sure you are maxing out 401k and put some towards a traditional IRA and/or travel fund.

What are your retirement $$ goals? Do you have a pension?

[Anonymous]

Range Rovers are for the hood rich

[Anonymous]

Anonymous wrote:

Anonymous wrote:39-yr old female, about $140K annual income, $380K net worth, about $1500 in excess (income less expenses) a month. I have $21K target-saved for a new car. My car, an economy japanese vehicle, is at the end of its useful life, plus I'd like to treat myself for my 40th bday. How much money would you spend on your new car in my position?

I would buy a Prius if I were environmentally conscious, a VW Bug if I wanted fun and a convertable and a Honda CRV if I wanted an SUV.

Put the money to make sure you are maxing out 401k and put some towards a traditional IRA and/or travel fund.

What are your retirement $$ goals? Do you have a pension?

OP here. I'm really not looking for car model recommendations. Just the amount of money to be spent on it.
Also, while I appreciate your concern about my retirement, I'm not looking for suggestions on how to improve my personal finances.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:39-yr old female, about $140K annual income, $380K net worth, about $1500 in excess (income less expenses) a month. I have $21K target-saved for a new car. My car, an economy japanese vehicle, is at the end of its useful life, plus I'd like to treat myself for my 40th bday. How much money would you spend on your new car in my position?

I would buy a Prius if I were environmentally conscious, a VW Bug if I wanted fun and a convertable and a Honda CRV if I wanted an SUV.

Put the money to make sure you are maxing out 401k and put some towards a traditional IRA and/or travel fund.

What are your retirement $$ goals? Do you have a pension?

OP here. I'm really not looking for car model recommendations. Just the amount of money to be spent on it.
Also, while I appreciate your concern about my retirement, I'm not looking for suggestions on how to improve my personal finances.

I think asking people how much you should spend while citing your netwirth pretty much counts as exactly that

[Anonymous]

Buy expensive with your future needs in mind and keep it ten years.

[Anonymous]

Anonymous wrote:

Anonymous wrote:
OP here. I'm really not looking for car model recommendations. Just the amount of money to be spent on it.
Also, while I appreciate your concern about my retirement, I'm not looking for suggestions on how to improve my personal finances.

I think asking people how much you should spend while citing your netwirth pretty much counts as exactly that

Really? What else does it count as? Medical expenses? Brand of preferred underwear?

[Anonymous]

If you can provide a little more information, such as:
1) MPG desired
2) How utilitarian you need it to be
3) Number of people you typically need to transport
4) etc

That would help people understand what you "need" and subsequently the amounth of money to be spent on a car.

Also, are you open to used or just new?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

OP, you don't mention if you have kids. If so, I think a crossover would be a good idea. Otherwise, get a sedan. Look at certified used luxury cars if you want to spurge for something nicer. A guy at the Lexus dealership recently said that families with $200K incomes typically spend $40-50K on their car, thus the popularity of the RX. But you don't have that income or savings, so I would spend less if you don't something large.

OP here. As a family, our income is over 200K, and our net worth is over a million. I was just posting my own numbers as that is what I go by in deciding on individual purchases.
And yes, I have a kid, but don't need an SUV or a crossover. What I need is to decide on the amount first, and figure out the make and model based on that.

You sound kind of snitty OP. Clearly you won't go broke spending anywhere between $15,000 - $50,000. Figure out what you want to do and stop asking strangers what you should do.