Quote:
Originally Posted by 10"
Some of you think too much...
I financed my 1M when I didn't have much extra money....now it's almost paid off and my income is significantly higher and I own a car which has retained MOST of its value.
Don't listen to all the financial planners. Get the best car you can afford and move upwards professionally. If a car can help inspire you and make you feel fulfilled; it's worth paying a premium. My 1M has put a massive smile on my face every day for the past 5 years and that in itself is worth it. Get out of lateral thinking and get into dimensional thought. Life is not just an exercise of financial numbers....
I'm not telling someone who makes $50k a year to go and buy a $50k car. But if you make $125k and are thinking $50k is too much for a car and you are instead going to get a $40k car——you are doing yourself a disservice and are disappointing yourself. Don't disappoint yourself. Instead get it and aim for professional development to follow...
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On the flip side, I have known a person who did this and continued as their income expanded... until they were making $250-300k a year and living paycheck to paycheck.
At the end of the day, most cars are really bad purchases and your situation with the 1M is very rare. As long as the person knows that going in, no problem.
I think OP is in over their head. If you have to worry about what your car is going to be worth or if you'll be upside-down, then you can't afford it IMO.