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Cars and Transportation
Reply to "If you like cars, what is a reasonable car price based on income"
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[quote=Anonymous][quote=Anonymous]Dave Ramsey NP here, OP is debt free and assuming on target with other savings goals can afford a nicer car and asked for a benchmark similar to housing benchmarks. Obviously, DR did not mean for this to be a hard and fast rule. Personal finance is personal and other people have more debt and little savings and couldn't afford the bill for the 3% car. The point OP, is don't go out and get a loan on two Land Rovers with your 300k when the money could be working for you. I would ask the rest of you what your discretionary spending is on your hobbies? Ops DH likes cars! [/quote] I think people are confusing OP with the PP who came in earlier making fun of Acuras -- OP has never said that cars are their hobby, just that they "like to drive nice ones and not clunkers." OP I think you're planning to spend too much on cars, but your finances are such that it's not a mistake that's going to ruin your life like it would if you made $45k/year or something. Although I notice you didn't say anything about children (could make a real difference in how far $300k stretches and whether you are on okay or quite solid financial footing) or your housing, so either you rent (still no debt, but maybe not the best plan for building wealth) or you have paid off your mortgage (in which case buy your luxury cars, why not?).[/quote]
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