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

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[quote=Anonymous][quote=Anonymous][quote]We are both retired (well before 50), have many, many millions and guaranteed income streams (trust $, buy out from companies, etc) and we would never do this. [/quote]

You probably aren't interested in cars, then.  I'm not interested in cars, either, but the OP's spouse is.  I see no reason to begrudge that interest.

This thread is pretty silly, really, since people keep pointing out the obvious (cars are a bad investment, etc.).  Lots of things that people like are not good investments, but people who buy them get pleasure out of them that justifies the expense.  We all have different priorities.

My own answer would that the appropriate income level would be one where one can afford the car.  And, by "afford," I mean "can pay cash for the car, including insurance, maintenance, and depreciation."  And being able to do so while continuing to pay regular life expenses, including short-term and long-term savings, is implied.  This will differ for each person depending upon his priorities.

The other obvious caveat is that one needs a stable income (or significant savings) in order to make such a big purchase, and one needs to go into it with an understanding of the real costs involved in high-end car ownership.  But, as long as one is not delusional about such things and wants a nice car, I see no problem with buying one.

Personally, I have other priorities (when I last owned a car, it was a used Honda), but I am all for enjoying one's hobbies if one is in the position to do so in a responsible fashion.[/quote]

To pay so much money for a deprecasting and costly to maintain asset is insanity. I don’t care if you like cars or not. [/quote]

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