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As others have stated, my gosh, you're only 25 years old. There are VERY FEW people that can can afford to lease/buy a brand new S550. If you continue to do what you are doing (saving), you will own a new S550 a lot sooner than most.
I think you are well ahead of most people your age. A couple of observations. You are very young to get an S class. You do not have nearly the income to afford one yet. You are chasing a material object. We all want something above our affordable range. That's the nature of marketing and desire. There are things we want but know it's not going to happen. At least not yet. An S class is more of an achievement in status than just a luxury car. For most people it is the best of the best, and it is priced accordingly. I mentioned it in another thread- if you are buying an S class you shouldn't have to worry if it will fit into your budget, nor should an option package put the car out of reach. It's a pure luxury buy.
I would harness that drive and extra funds into building your abilities to move up the ladder or start your own gig. Focus on achieving success and sooner than you imagine you will be able to get an S class without thinking of budgets. When you get to that point some day and pull the trigger, it will mean so much more to you....
Thank you for this advice. You have no idea how much your reply resonated with me. I get it... Even though I could move things around and get this car now it would be such a waste of making 100k. Use my leftover money to make me more money and then the car won't even be an issue. Money and investments snowball so it will come quickly.
I was very close to pulling the trigger and getting a smaller home and this lovely Matte white with black nappa leather and black poplar wood. Has to be the best looking car I have ever seen.
Last edited by itsclassified; 11-20-2014 at 10:34 PM.
Thank you for this advice. You have no idea how much your reply resonated with me. I get it... Even though I could move things around and get this car now it would be such a waste of making 100k. Use my leftover money to make me more money and then the car won't even be an issue. Money and investments snowball so it will come quickly.
I was very close to pulling the trigger and getting a smaller home and this lovely Matte white with black nappa leather and black poplar wood. Has to be the best looking car I have ever seen.
It's a wise move. Trust me, I'm an indulgence guy. I'm the one who not only trades a car in every 9 months, but I also want to pick it up the night I line up the deal. So I started with lesser cars. Eventually got a new e550, then moved up. But I never let that passion slow my growth financially.
Oh, and skip the matte finishes. They look SICK. But caring for them is a nightmare!!!
It's a wise move. Trust me, I'm an indulgence guy. I'm the one who not only trades a car in every 9 months, but I also want to pick it up the night I line up the deal. So I started with lesser cars. Eventually got a new e550, then moved up. But I never let that passion slow my growth financially.
Oh, and skip the matte finishes. They look SICK. But caring for them is a nightmare!!!
We have such a nice little community here Just wondering emilner why are the matte paints hard to care for? what do you have to do differently?
We have such a nice little community here Just wondering emilner why are the matte paints hard to care for? what do you have to do differently?
They show every single grain of dirt. And every typical scratch from drying, driving (typical swirl marks) show up as a flaw. Any flaw in the paint is sooooo noticeable.
They show every single grain of dirt. And every typical scratch from drying, driving (typical swirl marks) show up as a flaw. Any flaw in the paint is sooooo noticeable.
Sorry. .. I was just browsing this thread and I may have to completely disagree with this comment, no disrespect intended. In fact it's just the opposite. The matte finish is so much easier to care for. It doesn't show any flaw and looks infinitely better than gloss paint. I don't have enough time to go into detail today but I will in the next few days (some work deadlines I need to take care of).
This is an interesting thread. I can totally understand your desire for a big luxury sedan even though it's an "old" person's car. When I was your age I wanted a Cadillac or Lincoln. Who knows why, I just did. My oldest turns 25 next month and I'm still paying for her to be in college. You should be very proud that you make $100,000 at 25. Probably not many S Class drivers can say they made that at 25. But yeah, whether or not you can "afford" it, spending that much of your disposable income on a car at your age probably isn't a good idea. Frankly, although I could now pay cash for an S Class, I got over the need to own a new car long ago. I always buy nearly-new flawless cars at half the price and don't feel the least bit like I'm second class. Makes me feel smart somehow. And although I still like big luxury cars like the S class, if I decided tomorrow to spend $100,000 on a car I'd be in a nearly-new Aston Martin DB9 convertible. Priorities change. Take your time. Have fun. Go buy a nearly-new something.
Sorry. .. I was just browsing this thread and I may have to completely disagree with this comment, no disrespect intended. In fact it's just the opposite. The matte finish is so much easier to care for. It doesn't show any flaw and looks infinitely better than gloss paint. I don't have enough time to go into detail today but I will in the next few days (some work deadlines I need to take care of).
FYI I have a MY15 S63 in matte cashmere.
Understood. But that is exactly opposite of every single person who I have seen comment regarding caring for their matte vehicle. I seriously thought of it for my SL63 but the overwhelming negative opinion turned me away.
Well if you already have enjoyment expense set aside I say stick that $811 in savings and when you have enough invest it. I don't know what to invest it in but idk something like gold or some other precious metals. I'm a little younger than you and drive a LX570 bought it myself brand new. I brought it home and my dad looked at it and said "Son I think you've spent about $20k more than you should've but I'm not mad I'm actually happy!" I asked why and he said "Well at least I know you'll do something to maintain the lifestyle you've given yourself." My parents have been buying S Classes and LX's since the mid 90's, my dad was 31 when he went out and bought a '95 S500 and '95 LX450 so to him it to big of a deal. I had been working since 9th grade for my dad and then started in RE as soon as I turned 18, I never had any overhead like food and rent since I live with my parents. So I had been saving up for quite a while I'm Punjabi its a cultural thing to stay with your parents until you get married adn then when you get married your parents live with you, just to clear then air of the wow you life with your parents thing. So how I got in a LX570 was interesting I was in at the dealer one day getting my RX350, that my dad bought me, serviced as I was browsing the lot I saw a LX570 granted my dad has one I don't what it was about that particular one caught my mind even though it was fully loaded silver and black just like my dads but as soon as I saw it I instantly I knew what I was saving up for. My point is there one of two thing that will if you buy a S550 a. you go bankrupt b. you strive to maintain the S Class life and even though you bought more than your capacity now it might help you succeed in the future.
Protecting the Earth from the Scum of the Universe
I would definitely disagree with Ed Milner. He is waaay too conservative with his plan for my taste
If I were you, I'd go for broke. Be bold and brave, especially if you can skip Affordable Care Act and stay home (not risking any injuries).
Be like a typical young American. Spend, spend, spend. And borrow, money's cheap.
I would definitely disagree with Ed Milner. He is waaay too conservative with his plan for my taste
If I were you, I'd go for broke. Be bold and brave, especially if you can skip Affordable Care Act and stay home (not risking any injuries).
Be like a typical young American. Spend, spend, spend. And borrow, money's cheap.
Is it bad if I can't tell if you are being sarcastic?
I would definitely disagree with Ed Milner. He is waaay too conservative with his plan for my taste
If I were you, I'd go for broke. Be bold and brave, especially if you can skip Affordable Care Act and stay home (not risking any injuries).
Be like a typical young American. Spend, spend, spend. And borrow, money's cheap.
Your beet juice vodka must be especially potent this year
If he could lower his income he could qualify for an Obama-S class. They're handing them out in Chicago as we speak...
To the OP: You've got nice income, but you're lacking something else: Investments. You'll find a large portion of the upper income brackets make the majority of their money off their investments and the appreciation of these investments. Between stocks, compounding interest, bonds, etc., there are a ton of options for someone at your age. Even straight compounding interest is quite good due to your relatively young age.
As far as the S-Class goes... You'll know you can afford it when you have enough cash on-hand to buy one... walk into a dealership and drive one.... and walk out WITHOUT buying one. When you have that level of confidence that you DON'T need one despite having the means, then you can truly afford one.
Even at that, at your age I'd suggest a well-loaded E-Class (S-class amenities, not quite as plush, but half the price) or better, a CPO S or E class. Let someone else take the depreciation hit.
Don't forget what image you're putting out there, especially to potential employers. If I saw a 25 year old pull up in a brand new W222, I'd think they're a spoiled trust fund brat or just very foolish with money...and if they're making foolish decisions with their own money, how will they handle my company's?
Time is your enemy between you & retirement -- benefit by investing as much as you can when young.
Last edited by BeachBunny; 11-22-2014 at 03:49 AM.
I'm a long time reader and poster on these forums under my main account. I'm going to be putting a lot of personal information out so I made a second account.
How do you guys afford a S Class. I feel like i'm missing something. I have always dreamed of having one from a young age and I have worked very hard to get to 100k a year and I'm 25 (this puts me in like the top 1% for my age and i still struggle to understand how to afford it) I went to school and got a BA in computers and work as a programmer in a low cost of living area.
So the budget:
100k = $5435 a month after state and federal taxes. Then you max out your 401k like everyone tells you ($-17,500) and you are left with $4,587.29 a month after state and federal taxes.
You are left with $811.09! That's not enough to afford even a lease payment on the s class. Let alone the higher cost of insurance. So am I missing anything or is my spending out of control? Or does it really just boil down to even twice the annual income is not enough for a s class
P.S I know it might get asked but I have 0 student loan or credit card debt.
Unfortunately, $100k isn't what it used to be. If you still want a new one... Get a roommate, split the bills. Poof. There's ur S.
11-20-2014, 10:06 PM
Just wondering emilner why are the matte paints hard to care for? what do you have to do differently?
