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][quote=Anonymous]Funny, I have a similar dilemma. I have an 11-year old Mazda Protege5 and $35K in cash (after emergency fund, college savings, 401K etc) to spend on a car. I thought I'd buy Lexus CT - efficient and reliable hatchback with a little bit of a status. And then I saw Mazda3 hatchback and totally fell in love. The design, the sporty handling, the stick! And it's half the price of Lexus. Or... is the price really a positive? That's my dilemma.  Should I buy the more expensive car for status (I'm pushing forty and we do have a 200+ HHI) or stick with the car I love and have some money left over?  I never even thought I would be in this position, but here it goes - status is an important factor in buying a car, even for people like myself who have long managed to disregard it. [/quote]

On the road, nobody cares if you drive a Mazda or Lexus. Your friends or families might talk about it for 5 min, then forget about it and go on with their lives. Buy whatever you like to please yourself.[/quote]
But it isn't just family or friends. When you pull into the parking lot at Balducci's/dentist/school parking lot people look at your vehicle and draw conclusions regarding your financial status. It's immediate and instinctive.  People assume you have more money if they see you drive a  luxury car than a cheap efficient one - they'll never know whether you leased your car or bought it for cash. And they take you more seriously if they think you have more money.  Question is - what kind of impression do I want to make on people I don't even know and is it important enough to sacrifice my true preference (and 15K!) for it?[/quote]

True.  When I see the luxury cars I think to myself-they are broke, when I see a beater I think-I bet you they are sitting on a bunch of cash and are in a great financial position.[/quote]

Really, I think the opposite. Lol.[/quote]
Agree. Hence the dilemma.[/quote]

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