At what income is it appropriate to buy a 200k car?
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Anonymous
| DH wants to buy a 200k sports car. He is late 30s and earns around 1.5m per year. Right now we both drive luxury SUVs (80k). |
Anonymous
| If you guys can afford To buy for cash then go for it |
Anonymous
|
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? |
Anonymous
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. |
Anonymous
| Then I'd be fine with it as long as it didn't become an "every year I want a $200k car" thing (reselling cars like that is a huge loss). |
Anonymous
|
Seems like he can afford it. But does he want it? And if so, why? At that price, it's about saying you drive a very expensive car ... like a $3000 dollar bottle of wine. It doesn't taste that much different than one a good bit less.
Also, it will still get a door dent in whatever parking lot. He'll just care a lot more. |
Anonymous
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Never.
I'm sorry to be that guy, but it just seems wrong to me. |
Anonymous
Yeah me too, I'd rather give it away to something that would make a difference in someone else's life. . But then again I'll never make that kind of money. Seems you have enough money. Spend it how you want. |
Anonymous
| your HHI is 1.5 and net worth is only 3? we don't make nearly as much as you do but our net worth is 20x our hhi. something doesn't sound right. |
Anonymous
Not OP but it sounds like this is a fairly recent jump in HBO, previously 500k living on 250k (which doesn't leave a ton after taxes). |
Anonymous
Don't like any sports cars in that price range. Get Ford GT. Amazing thing. |
Anonymous
+1, and not sorry. http://www.directrelief.org Do something good instead with that money. |
Anonymous
| Never. Travel with that money. Donate it. Cars are not worth that much, plain and simple. |
Anonymous
| Who does he think he is, Floyd Mayweather? |
Anonymous
| Hope nobody saying "never" spent one penny more than they had to on the most basic of used cars to get from one place to another. So ridiculous. |