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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] 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] Which is why BMW allows you to lease a 5-series for less than it costs to buy a 335.[/quote]
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