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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]I've always been surprised at how many luxury cars there are in certain poor neighborhoods. I don't understand how someone sho lives in a 150k townhouse spends 40k on a car. We make in the low to mid 200's and 40k seems pretty average among our friend group. Many people have long commutes from our area so I understand. The most we've spent is 27k including taxes and tags. I've never been status conscience at all about a car, until I discovered the private school car pool line. For us that meant trading in our beater minivan for a bottom of the line Honda van. In my friends's group 60k-80k would be dumb to spend on a car. The ones who spend this type of money with similiar incomes are super status conscience.[/quote]
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