Reply to how much income or how much savings would you need before buying a $40K car?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]
Re: only buying a car if you have the cash for it - aside from that not being really smart financial advice, it's just not possible for some of us. We could probably live without a car, but our quality of life would go way way down. Life is full of tradeoffs, in other words.[/quote]
I would narrow this guidance to "only buy an expensive new car if you can pay cash for it."  People do need cars to move around, and must sometimes borrow to buy it, but no one needs a new expensive vehicle to get around. Nothing is more pathetic, in my opinion, than taking a loan to buy or, worse yet, leasing a luxury car. That just screams inferiority complex. [/quote]

ITA[/quote]

ah, if interest rates are 2% or less, not that big of a deal.  I'd rather keep my cash invested and borrow at 2%.[/quote]

Right, Buying a car in cash frequently makes little financial sense, if the loan terms are favorable.

I also know several people who lease nice cars because they enjoy owning nice cars. If you can't imagine someone leasing a nice car who doesn't have an inferiority complex, then I think it speaks more to your disinterest in cars or inability to engage in empathy/cognitive flexibility than it does to the car owner's personality.

Also, leasing gets a bit too bad of a rap on this forum in general. Leasing is a much worse deal than buying a car and driving it into the ground. But its almost exactly as sensible as buying a new car, driving it for several years (but not until it breaks), and then trading it in, which people do all the time.[/quote]

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