Reply to At what HHI would you feel comfortable buying an $80-90k car?

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Reply to "At what HHI would you feel comfortable buying an $80-90k car?"

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[quote=Anonymous][quote=Anonymous]It’s all dependent on your priorities and what your other expenses are. Empty nesters could definitely afford it at $400k maybe even a bit less. Nice house in the city with 3 kids in private might need $1.5M to $2M to comfortably afford it.  Personally I wouldn’t spend that much on a car with a $5M income, but I’m not a car guy. That said I’d spend more than most on a house or a vacation. It’s just personal preference. [/quote]

Definately personal preference and how you choose to budget. 
Would never lease a car, luxury or not, simply not a good financial plan.

I drive a luxury car ($55K) and partner drives a $65K luxury car.  But mine is 12 yo and partners is 8.  So we buy and pay cash for luxury cars and then keep them for a long time.  I could sell mine for almost $20K right now due to the car shortage, but it's worth much more to me.  It will be another 2 years before I replace, unless there are some major issues that appear. So basically we buy luxury cars with cash and keep for a long time, and will pay cash for next cars when we buy.  Perks of keeping them so long---auto insurance is much lower with the older vehicles. 
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