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.

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.

Anonymous wrote:Never.

This. 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.

If this is his first performance vehicle, I would suggest not buying a 200K car. Get something used for half the price.

First, they aren't all they are cracked up to be for many people. I've know countless people who buy big for the first time and drive a few thousand miles and then park it forever. They are not easy to drive, not entirely comfortable and for some people are scary. It isn't like driving a normal car if you want to do it right.

Second, buying used will allow him to take it out and get real instruction on who to drive these things. To drive one well is an art and requires a lot of practice. But learning is risky and you can easily ball the thing up.

Third, discourage buying turbo-charged or cars with insane 0-60 times. It is a real inhibitor to learning to drive well.

So— my view is the that he is putting in the time/energy/sacrifices to earn lots o’ $$$, so if your household can afford it why not. However— I think the same line of reasoning could apply to you as well. I don’t know your situation, but I assume you are significantly contributing to the household in other ways besides income, so if you feel that your time/energy/sacrifices warrant a $200K car for you too, you should discuss this as it may not have occurred to him . Seriously, you sound like a nice person to consider supporting this purchase, and I hope your DH realizes that not all spouses would feel this way.

Never.

Anonymous wrote:What happens when someone hits it and doesn’t have that kind of insurance coverage? I’ve always wondered this. Most people don’t have more than $50,000 or $100,000 at most for a single liability incident.

Exotic car owner here. Your own insurance covers it then if the other party is under-insured. I pay pretty high insurance rates for that reason.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:DH wants to buy a 200k sports car. He is late 30s and earns around 1.5m per year. Right now we both drive luxury SUVs (80k).

Does anyone know how much a car this expensive loses its worth when they drive off the lot?

It really depends on the car. Some exotics hold on to their value fairly well, because there is a limited number of them available. When there are no new ones to be had, you can only turn to used inventory. Some brands are a little better at this than others. In general, however, a luxury vehicle loses a lot of value when they become used, and this is especially true of cars that has a steady supply from the factory.

Exotic car owner here. While I didn't buy mine as an investment, it's actually gone up in price since I bought it 13 years ago. While this will never happen with normal cars, this is not uncommon with exotic cars.

Anonymous wrote:In my world, never. We are high income (DH is a CFO and I'm in sales) and we still always buy lightly used cars. A 200k car would be a colossal waste of money.

Same. We are staying in my parents 4,000sq ft home in Kalorama while our house is being built and nobody is driving 200k cars. Their neighbors are absurdly wealthy. For many of them, these homes are not even their primary residences.

What happens when someone hits it and doesn’t have that kind of insurance coverage? I’ve always wondered this. Most people don’t have more than $50,000 or $100,000 at most for a single liability incident.

If you can afford it, go for it.

In my world, never. We are high income (DH is a CFO and I'm in sales) and we still always buy lightly used cars. A 200k car would be a colossal waste of money.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Never. Travel with that money. Donate it. Cars are not worth that much, plain and simple.

Travel is not worth it. Plain and simple. Cars are so much more fun. I am a girl. I will take cars over any travel.

Have you ever traveled? Travel can be amazing! And you have the memories to re-live when they are over. With a car that expensive I would worry about being car-jacked!

+1000000000000000000000000000000000000000000000000000000000000

My parents dragged me around to museums and churches and blah blah blah in Europe when I was in high school. I was an ungrateful bitch like you, but I value it now and love traveling. Once you realize that traveling is invaluable and the only $ you spend that makes you richer...you'll get on this camp. I can't wait to take my next trip.

To spend that amount on a car is excessive and stupid. Where are you going to drive it? Unless you live in a fly-over state with no speed limits, you won't be able to stretch the car or see it's true potential. But only you (OP) can determine if you can afford it. Only you know your inputs/outputs. Sounds like a foolish decision, to me.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Never. Travel with that money. Donate it. Cars are not worth that much, plain and simple.

Travel is not worth it. Plain and simple. Cars are so much more fun. I am a girl. I will take cars over any travel.

Have you ever traveled? Travel can be amazing! And you have the memories to re-live when they are over. With a car that expensive I would worry about being car-jacked!

I would elect to do both. We've been doing a lot of traveling and to be honest, it all starts to blend together after a while. Except for a few bright spots, most travel is fun at the time but completely unmemorable. Tourist traps work and look the same all over the world, and so do all of the castles, cathedrals, museums, and parks. If you are the type that venture into where the locals live, you'll also quickly find that they largely mirror other places around the world. You look at a piece of old relic and think to your self: "wow, this has been here for #### years!!!", which is a thought that's neat for maybe the first 3-5 times. After that you just realize that humans have been exploring and settling all over the world and that there is something old someone built a long time ago anywhere you go.

Now I am not saying don't travel - do travel, it's a great experience, but don't go over board with it. If you enjoy a nice car and can afford it, go for it.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'm in the never camp. That much money on a car is obscene. There are people who are hungry, homeless, dying because they don't have access to healthcare, etc etc. Indulge something far less expensive, and donate the extra to someone who really needs it, or an organization helping those in need. It's about values.

But, but they value the car!! Seriously, if someone is making that much to afford a $200k car I think they can also still afford to give to causes they believe in. They don’t have to be mutually exclusive.

Once the money is spent on a car, it can't go anywhere else. So yes, for that $200k it is literally mutually exclusive

No matter how much they give to charity, they could give more if they didn't buy the tacky car

Legit question- do you donate all of your excess funds to charity?

Different poster - just adding to the discussion.

I find it incredibly hypocritical to criticize others for the level of charitable contributions. First, charity is a result of compassion and empathy, which are emotional states that are different from person to person. Everyone has the freedom to decide what level of charity they wish to engage in. Everyone's moral compass is different and is calibrated based on the context of their individual circumstances. Charity is therefore a subjective act and it is irrational to criticize others for their subjective preferences. Of course you can endeavor to change their preference by appealing to them, by giving them additional information, through dialog and discussions, and etc.

Anonymous wrote:

Anonymous wrote:DH wants to buy a 200k sports car. He is late 30s and earns around 1.5m per year. Right now we both drive luxury SUVs (80k).

Does anyone know how much a car this expensive loses its worth when they drive off the lot?

It really depends on the car. Some exotics hold on to their value fairly well, because there is a limited number of them available. When there are no new ones to be had, you can only turn to used inventory. Some brands are a little better at this than others. In general, however, a luxury vehicle loses a lot of value when they become used, and this is especially true of cars that has a steady supply from the factory.