At what income is it appropriate to buy a 200k car?

[Anonymous]

Anonymous wrote:This thread has been invaded by a lot of crazy weirdos. OP - you can afford it. If he wants it and you are ok with it, to for it. I am sure that he works really hard. You have enough saved and can enjoy some of your $. Personally, cars are not my thing, but they are to your husband.

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[Anonymous]

I know someone who has a $250K car that he is afraid to drive or park anywhere so he keeps it in the garage. He loves to tell people how he paid cash for it. Everyone thinks he is a douche. How stupid can you be to spend that kind of money on a car you can't drive?

[Anonymous]

This thread is full of envious people. If you can afford it, what's the big deal?

[Anonymous]

Anonymous wrote:I don't think $1.5m is enough, especially if he's just started earning that much. Settle for a Tesla. And focus on building more savings. The challenge with high income jobs is that they can disappear (especially if he's in law or tech) so you need to save now while the money is good.

+2 million. Still living on tech money from the 90s while underemployed.

[Anonymous]

If I was in that income bracket, I would buy it in a heartbeat. However, the caveat would be that I would have a slightly delayed gratification and buy the car after I've saved slightly more for my net worth.

I also happen to love cars, so $200k isn't that much when discussing cars, and it barely scratches the surface to get an exotic car (which $200k will NOT buy). Despite what the majority thinks, there are folks who love driving and owning these cars and its not to display status or wealth.

Is your DH looking at a McLaren 570s, Porsche 911R/GT3 RS, Porsche 911 Turbo, Lambo Huracan

Or is he looking at a Ferrari California T, Acura NSX, Audi R8, Bentley Continental GT?

Lastly, if you pick the right car, some of them will even increase in value or worst case break even after owning it. If he's not a car guy, he may just want to own it to get it out of his system. Or he may want more and figure out a way to make more money.

[Anonymous]

Anonymous wrote:What a dork! I wouldn't give him any sex for a month for a stupid want like this. Don't care about your income. $200k dollar car is a turnoff.

And I'm sure your husband is missing out, you sound like a treasure

[Anonymous]

OP, I don't think you are asking the right question. Whether it is appropriate to buy any expensive item depends on its cost and utility and your specific circumstances. If you had a 9 figure net worth and a $50K HHI, you'd still be okay financially buying the car.

Though not quite $200K, DH has been talking about maybe getting a Tesla Model X as his next car (when his Leaf lease runs out). We have a net worth of $1.5-2M, almost fully-funded college for a 3 y.o. and an infant, stand to inherit 7 figure sums from both sets of parents, and a high six-figure HHI (a little less than half of yours). I'd be okay with his buying one, cash, because he never buys anything for himself and we can afford it. Except for childcare, we pay all of our monthly expenses (mortgage and bills) from his take home after taxes and savings...and he only gets half his income via salary, meaning we just bank his bonus right now...and he could use it instead to buy this car with some left over.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Less about income, more about net worth. I'd want at least a $3.5 - $4M net worth and obviously plenty of disposable annual income to afford the insurance, maintenance, etc.

If you make $1.5M and live on $1.5M, there's no margin for an ultra luxury car.

What's your net worth and what are your annual expenses?

Our net worth is around 3m. Very low annual expenses. We probably spend around 250k per year. We are used to living on 500k income. Back then, we had student loans plus nanny expenses. I now stay home and DH earns triple what we used to earn.

Not a good ratio on income/net worth. Won't improve with purchases like this. Keep your net worth in appreciating assets, not depreciating ones.

[Anonymous]

Anonymous wrote:I know someone who has a $250K car that he is afraid to drive or park anywhere so he keeps it in the garage. He loves to tell people how he paid cash for it. Everyone thinks he is a douche. How stupid can you be to spend that kind of money on a car you can't drive?

I know someone similar with a boat and tesla. Total insecure douche. Has to announce to thr woeld every chance he gets how rich he is.

[Anonymous]

Financially or morally appropriate?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Never. Travel with that money. Donate it. Cars are not worth that much, plain and simple.

Travel is not worth it. Plain and simple. Cars are so much more fun. I am a girl. I will take cars over any travel.

Working class or lower middle class.

[Anonymous]

Anonymous wrote:

Anonymous wrote:In the bank is an expression! Guess I am showing my age... more specifically, widows and orphans stocks and bonds. If you do not know what I mean by that then I can not help you!

I will give you that
They are young. Making good money. I don't get, how it's okay to buy more house but not car. They are fine, money wise. Live a little. The joy of driving a powerful one. I had a neighbor who changed cars every year (bad year - 150k car, normal year - 400-500). He loved it. Yes, it's a loss. Experience vacation is a loss, expensive wine is a loss. He loved cars. I guess some people just don't love cars. I don't like houses.

House = appreciating asset
Car = depreciating asset

[Anonymous]

Anonymous wrote:What a dork! I wouldn't give him any sex for a month for a stupid want like this. Don't care about your income. $200k dollar car is a turnoff.

Don't worry, I'm sure most guys wouldn't want to have sex with you anyway...

[Anonymous]

Its not income based. Its when you have $200K lying around that you can't do anything else useful with (retirement savings, debt elimination, savings for college, vacations, higher priority splurges, charity, whatever). For some, that might come as soon as basic retirement and savings goals are met. For some, like me, there will never be an income at which it is appropriate to buy a 200k car because I can always come up with things I would rather do with the money.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Never. Travel with that money. Donate it. Cars are not worth that much, plain and simple.

Travel is not worth it. Plain and simple. Cars are so much more fun. I am a girl. I will take cars over any travel.

Working class or lower middle class.

You would hate it too if your parents dragged you around the world all the time, when I all I wanted is to hang out with friends by the beach. Noooo, I had to see museums and ruins.