phonetics

Is it normal to spend 1/4 of everything a man owns to buy a dream car?

if I am buying a car costs 300k, how much money you think I should have in total?

Pls share your experience / opinion....

vraa

There are hundreds of posts on this subject.
A simple search will reveal what you're looking for.

Mainly, the exact same thing I just said

IanSL55

My take is that it's not a direct ratio between net worth / annual salary and what a person can afford... Meaning spending 1/4 of your net worth on a car when your net worth is $100K v. doing that when your net worth is $2MM is VERY different. For me a loose yard stick would be you can afford a car that is 1/2 your annual salary... So to buy a $300K car you should be grossing $600K a year...

~ Ian

E500C70

My household annual income is around $450k CAD per year, but I only spent about $70k CAD on my E500 second hand and $75k new for my wife's V70R. I've always had my eye on an SLK55 AMG or the new CLS55 AMG, but I doubt the mrs. would be too happy about that :p Perhaps I can get her to change her mind, and get both!

pinoyamg

Do whatever it takes to make you happy! As long as its legit! Spend your money and live in your car if you want, as long as you and your family could live with that decision. Life is too short, and your happiness and that of your family is most important in life. I myself, will only buy a car if I could only pay it off the same day or within a year of purchase. If not, I wait. I've learned that what you think is your "dream" car now, may not be your "dream" car tomorrow. Technology is a wonderfull thing, but its a pain to keep up with it! Just a decade ago, who'd think that 500hp would be a norm in the sports car arena? Who knows, maybe in another decade, it'll be 1000hp! Whatever it may be, one needs to be happy with whatever they've got and if getting the latest and greatest car at the time makes you happy, do it as long as you could live with the consequences. As they say, theres always a "re-action" to every "action". Btw, what dream car, worth 300 big ones are you thinking off? Lambo? 550?

MerzadY_BoY

thats insane, invest that money else where, before you make the wrong decision and ruin your family's life.

Chris 45971

My measure for this is to ask yourself "am I making any sacrifices buying this thing now? By doing this, is there anything down the road I might not be able to have?" If the answer is no, buy the car, boat, home, whatever. Yes, investing the money or leaving it in the bank might make you feel good; but the bottom line is you're not getting any enjoyment out of it. I believe the purpose of life is to get as much enjoyment out of it as you can. For me, driving an SL and still being able to have anything I want down the road is more enjoyable than watching my money grow, but that's just me. There is nothing worse than getting old and kicking yourself in nuts saying "why the heck didn't I get this car back when I was 25, 30, whatever. What did accumulating all of this money get me. If I bought the car back then, I still could have had anything I wanted and more" THE HORROR! Don't let this happen if after careful analysis of your future you come to the conclusion that you would not be making a sacrifice by getting the car.

You have the answers. Would you be making a sacrifice if you bought the car? Who knows, maybe you would be making a sacrifice, but if you want the car that bad, it might be worth it for you. Everyone is different.

Good luck.

firstkill

own your car...dont let the car own u

m0nty55

MerzadY_BoY

wtf, most random signature ever

Humbucker87

One of my fathers friends once told him (partially modified for your situation)....."Would you rather be riding a 300k car or a 100k car thumbing through 200k in a shoebox"

Personally I couldn't imagine spending half of my years salary. Maybe think about this...take your years salary and attempt to subtract all of your expenses then take half of your "spending money"

Ultimately its up to you, but personally I don't know any people who make 3 million a year, much less 600k that own a 300k car. Of course they're not car enthusiast now are they.

Just my 2 cents. But what do I know I'm only 18.

clk55fan

My take on this is:

Just like milk that has an expiration date...none of us know when is our date.

In my 30s I were attending weddings.

I'm 47 and I have been attending funerals...
A good friend of mine passed on at 38.
In one year I attended 5 funerals...3 were 50-60s.

I don't want to save up enough money to buy my dream car when I'm 60+.
I'd be too old to enjoy it.....or I may not be healthy enough to enjoy it....or
I may not even get to be 60!!

I've seen a lot of SL drivers with receeding hairlines...(no offense).
I don't want to get to that point.
I would have bought one were it not for my 5 year old daughter so I had
to have a back seat.

My approach is, I'll buy a car that is no more than 10-15% of my net worth and I should be able to pay it off immediately or if I wanted to within a year.

Bottom line, life is too short. I'd prefer to have a ride that makes me grin everytime I turn the engine on rather than counting the $ in the bank/portfolio.

tandan

i poop therfore I AM (with apologies to decartes). on purchasing an expensive car. when my wife and i were getting serious, i asked hr why she had so much debt relative to her income. her response was, "what if i die tomorow". my response, "what if you don't".