Every time this conversation starts, all these guilt trippers come in like 'WOW what a waste of money on YOUR income." LMAO! People getting their first job making 60k per year buy a 25k camry and nobody blinks. Why shouldn't someone making 240k buy a 100k porsche? I had 90k in cars when I was making 210k (this was 14 years ago) and life was good! Don't guilt other people just because they don't spend money on the same things you do. Lemme guess you probably have a $20k "hand woven rug from the orient" in your foyer. Yuck

Anonymous wrote:

Anonymous wrote:Dang, I should UP my game. I am still driving 2004 honda odyssey with 200k miles and it still runs well. 350k/slightly over 6 nw

Keep driving that old beater car. You deserve it.

better than overspending money you don't have

I make $400K+. Wife is SAHM. Wife drives X5 BMW and I drive a BMW sedan. We keep our vehicles for at least 10years Net Worth of close to $4M. Certified pre owned Kids almost out of college

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Anonymous wrote:

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Anonymous wrote:Bought Porsche Cayenne. Certified used. HHI $250. Net worth 1.2M.

That seems like a crazy way to waste money at your HHI/NW.

A waste to you, money well spent to us. If we had trouble saving/paying the bills, you’d probably have a point.

They start at $70k. That's almost 4 months salary at your HHI, assuming you bought the cheapest model (which seems unlikely). That's just a bad financial move.

Life is also about fun and not just financial moves. For some of us, driving a sport luxury car is fun.
Do you have fun in your life? I'm sure you do and the money you spend to have it is a "bad financial move".

Anonymous wrote:

Anonymous wrote:I think it’s interesting how everyone in this thread is high earning and buys instead of leases. We buy our cars and drive for many years. I have friends who lease and change cars every 3 years. Seems like a waste of money to me.

High-earning individuals don't always make financially savvy decisions.

I wouldn't move my money from a well-performing investment to purchase a depreciating asset.

But you would take $10000 and spend it on a vacation, which is a totally bad investment and a pure waste of money. It doesn't produce a penny. It's even worse than a depreciating asset. The money is immediately gone like flushed down the drain within days. At least I can enjoy my car for years.

Anonymous wrote:Dang, I should UP my game. I am still driving 2004 honda odyssey with 200k miles and it still runs well. 350k/slightly over 6 nw

Keep driving that old beater car. You deserve it.

NW 4.5M, Toyota Camry has new tires

Anonymous wrote:I think it’s interesting how everyone in this thread is high earning and buys instead of leases. We buy our cars and drive for many years. I have friends who lease and change cars every 3 years. Seems like a waste of money to me.

High-earning individuals don't always make financially savvy decisions.

I wouldn't move my money from a well-performing investment to purchase a depreciating asset.

Anonymous wrote:I believe it. Some people are just into cars while other are in to clothes, vacations, knitting, sports tickets. Why is that so hard for some to understand? I personally don't care about cars and have been driving a very old car. but I know it makes some people really happy to drive and have a nice car.

Not only happy, but I can tell you that my new mercedes is soooo much more comfortable for long road trips than my old 2008 nissan xterra.

Anonymous wrote:Tesla Model S. ~100k. Bought with cash. HHI 450k. NW >4x that.

IDGAF if meets “rules” - I work hard, spend an hour or more on daily commute and I wanted it. You only live once, puts a smile on my face everyday and much cheaper than an affair. No regrets - live a little people!

agreed. bought 2019 mercedes glc coupe. HHI 400kish. NW ~2.3M. You can't take it with you and I also don't have kids. we didn't pay cash, but will pay it off in the next two months.

Anonymous wrote:We have many independent "govt contractors", and these people can get tax writeoffs for a lot of stuff as "business expenses". It includes huge SUVs and vans, and many home improvements. You need a mode of transportation and a space to do business, amiright? Huge SUVs and minivans...usually Mercedes or BMW.

If the vehicle is over 6,000 lbs GVW it counts as a commercial vehicle for business (accounting) purposes, that's why.

I think it’s interesting how everyone in this thread is high earning and buys instead of leases. We buy our cars and drive for many years. I have friends who lease and change cars every 3 years. Seems like a waste of money to me.

Another Cayenne here. Bought new but it's almost 10 years old now so has ended up being a pretty good value. HHI around $800-900k. NW around $9m. Always pay cash for cars.

Anonymous wrote:BMW X7. HHI 2.3M.

Funny how the .3 kind of becomes a rounding error.

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Anonymous wrote:

Anonymous wrote:

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Anonymous wrote:

Anonymous wrote:Bought Porsche Cayenne. Certified used. HHI $250. Net worth 1.2M.

That seems like a crazy way to waste money at your HHI/NW.

+1

Just showing off (not smartly) at your HHI

Believe it or not (I know you won’t), my husband couldn’t care less what anyone thinks of him or his car. It just makes [b]him really happy to drive it.

IDK, sounds like he is really immature. Maybe you guys are still in 20s.

He’s immature because his car makes him happy? That’s an interesting perspective.

Assailing one as immature because they derive joy from a car? You sound like a dolt.