Am I being unnecessarily cheap about new car purchase?

[Anonymous]

We make about $350k and have never paid more than $27k for a vehicle. I couldn’t go above $40k.

[Anonymous]

Anonymous wrote:OP, we are similar. Our HHI is $350K and I drive a base Honda civic that I bought new for $24k. It's a bit tight for our family of 4. But spending $40k on a car at any income is foolish.

Aren't you concerned for the safety of your family ?

Bluntly speaking, you seem both foolish and cheap. Hospital bills & rehab are expensive.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP, we are similar. Our HHI is $350K and I drive a base Honda civic that I bought new for $24k. It's a bit tight for our family of 4. But spending $40k on a car at any income is foolish.

How ironic, you call others foolish for spending $40k on a car, but admit to having spent money buying something that doesn't really fully meet your family's needs for transportation.

Sometimes you have to buy things that don't check all the boxes because that's what you can afford. It's better than buying what you can't afford.
No surprise the average American doesn't have $1000 in their savings account because they think it's reasonable to buy $40k+ cars.

Maybe they are buying safety and reliabilty in addition to comfort and the new car warranty.

[Anonymous]

Anonymous wrote:OP, we are similar. Our HHI is $350K and I drive a base Honda civic that I bought new for $24k. It's a bit tight for our family of 4. But spending $40k on a car at any income is foolish.

The most I've spent on a vehicle is 33k, but spending 40k isn't something that I would consider foolish. My HHI is less than 350k but I could easily make the payments on a 40k vehicle.