Do you have a financial limit before you buy a fun car?

"The Dummy Gummy" (dummygummy)
10/15/2018 at 20:22 • Filed to: money, Car Buying

A lot of individuals have different approaches to their cars and side piece
cars that they buy . Personally, I’m still fine tuning my approach. I bought my daily used because I didn’t want to take a huge depreciation on a car that I’ll likely run in to the ground. I’ve recently been considering a new daily/fun car. I’m also trying to be financially responsible with a growing family.

In the past I’ve pondered on what the appropriate percentage of your income your car purchase should be. It wildly varies from person to person. Some believe it’s okay to have a $50k car on a $50k salary since you can pay it off over time. Others believe only a $10k Camry is acceptable on a six figure salary. I don’t think there is a set ratio out there, like buying a house. Since we spend a lot of time in the car, there is a lot to be said for comfort, piece of mind, and entertainment for the dreary drives.

I’m curious how you approach this topic . What is your financial approach when it comes to buying a daily/fun car? Do you max out your retirement before you allow yourself to buy the car of your dreams? Do you daily a beater until you pay off your home mortgage? Do you put all your money in from your paycheck and enjoy the ride? Do you save up cash and buy it without the need for an auto loan ?

How do you enjoy your car oPPo?

When it comes to money, some times it can get a bit contentious. Please don’t judge others on how they spend money; keep it civil. It has no harm or impact to you.

Lotus for your ti me.

DISCUSSION (74)

kiwi_matt > The Dummy Gummy
10/15/2018 at 20:39

I don't think the combined value of all your vehicles should exceed 15-20% of your yearly salary. So if you make 50k you shouldn't own more than $10k worth of cars. Depreciating assets will never make you rich.

The Dummy Gummy > kiwi_matt
10/15/2018 at 20:42

Do you mean if you have loans for vehicles? Or is this both cars, paid off, still shouldn’t exceed?

fintail > The Dummy Gummy
10/15/2018 at 20:48

For me it is storage space rather than price. I am single and will never be able to afford a detached house within what I consider a reasonable commute, so that both opens up finances a little, and limits storage space. One hobby car is enough for me, my DD can be a lease without care, or something modern for reliability but traded now and then.

Most condos and apartments in my region have one garage spot (if lucky), so renting a garage is often a necessity. That creates an unloved expense which I would prefer to limit. For price, with a hobby car, I like cheap and cheerful. There’s a lot of fun that can be had for under 20K, and even under 10K.

gmporschenut also a fan of hondas > The Dummy Gummy
10/15/2018 at 20:53

It is a bit of a sliding scale. I can’t see a fixed amount. I think buying a 50k car on 50k salary is nuts. (Mainly as people often do a poor job of figuring out cost to own )

Pending your living expenses are paid for, and are properly planned for the future (401k, savings etc) you can go a bit nuts. I do though think its a bad idea to go too crazy if its your daily driver, as high miles will greatly increase costs and increase depreciation.

RPM esq. > kiwi_matt
10/15/2018 at 20:54

That’s extremely conservative logic that would literally destroy the automotive industry if everyone followed it because the vast majority of people could never buy a new car at all—I don’t think you have to make $125k per year to buy a $25k car—but it would be a pretty good rule of thumb for anyone with significant other debt (such as student loans) they should be paying down.

ETA: unless you don’t mean the value of the vehicles, you mean the total cost per year (i.e. payments if financed, maintenance, and depreciation ) , in which case I completely agree with you.

kiwi_matt > The Dummy Gummy
10/15/2018 at 20:56

The latter. It's too much of your income tied into things that will only lose money. As for loans, if possible you should never finance a depreciating asset.

The Crazy Kanuck; RIP Oppositelock > The Dummy Gummy
10/15/2018 at 20:57

A family friend does Hyperbalic Welding (welding underwater on oil rigs, up to 33 00ft below sea level ), he makes insane money ($200k +). He has never spend more then $5k on a car. He just travels a lot when he is not working.

The Dummy Gummy > gmporschenut also a fan of hondas
10/15/2018 at 20:58

Your second paragraph is where I’m stuck personally. I stupidly have gotten attached to the idea of a 2015 BMW 328d. Resale doesn’t matter too much to me. Maintenance cost and longevity do. I drive 20-25k miles a year so I get worried that the wear costs would be exorbitant. I also don’t know the reliability with them.

The Dummy Gummy > The Crazy Kanuck; RIP Oppositelock
10/15/2018 at 20:59

That’s a lot of coin. I can respect that. I love traveling too.

kiwi_matt > RPM esq.
10/15/2018 at 21:01

Yeah the automotive industry is safe, few people are financially responsible. Most will take ridiculous car loans, credit cards, HELOC loans to fund a lifestyle they can't afford, to impress people they don't like.

RPM esq. > kiwi_matt
10/15/2018 at 21:02

On that we agree.

The Dummy Gummy > kiwi_matt
10/15/2018 at 21:03

That’s fair, but I think hard considering the average new car costs $30k and the average household income is $60k.

Not saying you should be able to buy a new car, but $12k spread across to paid off cars (or $6k a car) would be hard. Totally respect your answer and take though. I am with you on the conservative side.

The Crazy Kanuck; RIP Oppositelock > The Dummy Gummy
10/15/2018 at 21:04

It’s the world’s most dangerous job, they better get paid well. When you are gone for 3 months, off for 2 months you want to travel.

dtg11 - is probably on an adventure with Clifford > The Dummy Gummy
10/15/2018 at 21:07

I’d say a fun car should be paid for in cash, although I personally believe any car should be paid in cash. If you can’t afford that, you can’t afford the car.

fintail > kiwi_matt
10/15/2018 at 21:09

To be fair, if you make 50K you’ll never be “rich” anyway, especially in these days of trickle down and deflated socio-economic mobility, so might as well have fun ¯\_()_/¯

BrianGriffin thinks “reliable” is just a state of mind > The Dummy Gummy
10/15/2018 at 21:10

I’m sorta in the same boat regarding the BMW diesels. I want a 35d but have heard that the emissions system gets maintenance spendy around 100k miles. I drive so much that, like you, and used car is gonna hit that mileage quickly.

SVTyler > kiwi_matt
10/15/2018 at 21:10

Eh, people buy cars because they get some kind of intrinsic value out of them that exceeds the initial monetary cost (no one would buy a new car otherwise, like you said it’s a terrible investment). It’s obviously not smart to spend all your income on cars but there’s plenty of people out there that are willing to live in a smaller hous e or take less expensive vacations or eat out less to afford something they probably wouldn’t be able to with a more typical budget. Different people have different priorities I guess.

getFuckedHerb > The Dummy Gummy
10/15/2018 at 21:13

I’ve financed a couple and paid cash for a couple. My rules:

Have a plan for retirement. For me this includes maxing my 401k every year plus a chunk in another retirement account. Financial planner keeps me on track and there is no guess work, I want to retire.

My house payment is very manageable compared to my monthly income (19%) and other payments are at a bare minimum for us, so we feel comfortable financing a car if we choose.

My wife puts on a lot of miles and with our two kids in the car every day, so I prefer her to be comfortable and safe. Both vehicles we drive daily right now were bought new, my Rav4 by her back in 2006 and her Jeep by us to replace it as the mile king in 2014. The rav is over 200k and the Jeep is at 125k. We are crazy about maintenance and upkeep. The funny part is the Jeep has depreciated horribly compared to the 2008 Corvette I bought a few years ago (though the C6 market is prime right now for buyers if you’re looking!).

So generally, if I want a toy (say, a used Audi R8 V10 Manual, or a 2006+ 911 CS4 which are both being actively scoped right now) my rule is enough down to ensure I’m always ahead of depreciation. If we hit any sort of financial bumps in the road any toys not paid off immediately get sold to reduce monthly debt load.

It’s not the “best” way financially but in life you have to make choices, and I choose to have fun cars as something I enjoy. I also have a fish tank that costs $2-300 a month to run and if I got laid off that would be dry so fast the fishes heads would spin.

bhtooefr > The Dummy Gummy
10/15/2018 at 21:14

When it came down to it, I decided against buying a new ND Miata and a used replacement efficient larger car (“larger” meaning compact/small midsize, not actually large ), because I’d get more utility out of the more efficient vehicle.

So, I kept my NB and bought a new Prius instead... and then found I wasn’t driving the NB, and sold it, so I think I made the right call.

gmporschenut also a fan of hondas > The Dummy Gummy
10/15/2018 at 21:19

If you do a lot of miles, a diesel is a plus and a BMW i imaagine would be a comfy place to spend the time. A diesel is intended to soak up highway miles. I don’t know enough to comment on reliability.

by “go crazy on yur daily driver” I was thinking folks that daily a M3, or GTR. I look it, how much am I going to spend if buy something “normal”. 5 year cost to own of a new civic is 32k, 328d 54 so is the extra 4k worth it to you? *note this also takes into 1st year depreciation which you’ll be avoiding.

AestheticsInMotion > fintail
10/15/2018 at 21:19

Do you keep the Fintail at home?

fintail > AestheticsInMotion
10/15/2018 at 21:20

The fintail sleeps in a rented garage not too far from home.

The Dummy Gummy > getFuckedHerb
10/15/2018 at 21:20

That a really fair statement and kind of in-line with how I was thinking. I max my IRA and my 401k. I also have all my safety nets (HSA/Depende nt care) maxed ; low mortgage as wee @12% our income.

2-300 a month to run

Do you have shamoo shows at your house? haha I never realized it could get that expensive.

The Dummy Gummy > bhtooefr
10/15/2018 at 21:23

A few years ago I bought a 5.0 coyote and felt awful putting high mileage on it, as I daily- ed. It was good because I finally filled a void that I desperately needed to fill, but it was a poor financial decision haha.

I have to say, it got great gas mileage when you weren’t roaring; 33mpg on highway.

The Dummy Gummy > gmporschenut also a fan of hondas
10/15/2018 at 21:24

I was looking used. A lot of 2015 around the $26k mark, with only 30k on the odometer. They’ve been super tempting.

RPM esq. > The Dummy Gummy
10/15/2018 at 21:24

The main thing for me is a two-car garage so I don’t have to compromise, something fun/fast and something utilitarian, which you can pull off on nearly any budget. I’ve chosen “fun” cars that are practical enough to daily most of the time paired with a more utilitarian cheap SUV for winter/dogs/hiking etc., but there’s no wrong way to do it. If your budget is under $10k, you could have a Jeep XJ and a Miata or BMW E36 and be the coolest guy on your block (in 1995). In my case, most of the budget usually goes on the fun/fast car—expensive to maintain and financed on reasonable terms, albeit still used to avoid the worst of depreciation—paired with a cheap, tough, slightly older SUV purchased with cash that won’t depreciate much or at all. My E46 M3/FJ80 Land Cruiser pair was the purest embodiment of this plan, but for all I know in the future it could be switched: say, a newer SUV to daily more of the year and a relative classic still reliable enough to commute in on summer days.

AestheticsInMotion > The Dummy Gummy
10/15/2018 at 21:27

Money doesn’t seem to directly increase my happiness, whereas certain cars do. So even if it’s not a good trade financially, I’ll spend whatever I can reasonably afford for a vehicle that I’ll enjoy, because aside from any practical value, cars keep my mental health in a good place.

As for actual numbers... I’ve spent $2200 on a car making $10/h working full-time, $2800 on a car making $6 7k, $72 00 on a car making $36,000, $6,000 (twice) making $60k- ish and with any luck I’ll be picking up a new one this week at about $2300. So... Not really any pattern. I certainly wouldn’t feel comfortable spending my entire salary on a car even if I had saved up cash to do so (minus a few exceptions al la NSX) but I could see myself coming close to my salary for the right car, if I had good loan terms. BMW M2 is the first car that's made me consider spending near-salary amounts for a vehicle

bhtooefr > The Dummy Gummy
10/15/2018 at 21:32

I mean, shit, that’s better than my NB Miata did. (Normal tanks were around 20-24 mpg, though - it encouraged driving like an ass on surface streets, because it didn’t want to be under 4000 RPM.)

Stephenson Valve Gear > The Dummy Gummy
10/15/2018 at 21:33

I’ve spent a lot of years being frugal. For many years, I felt that all I could afford was basic transportation. Early on in my career, that transportation was purchased according to just one consideration: first cost. Once I was a bit more established in my field and had a some financial stability, transportation was purchased with a somewhat different primary consideration: cost per mile. This is actually the most frugal way to buy a car; after all, the value of basic transportation is getting the most amount of miles out of each dollar spent. Of course, there are/were other considerations at that point, but cost-per-mile was at the top of the list. And, that cost was reduced to the lowest possible number, the percentage of payment-to-income being irrelevant... yes, I could afford more, but no, I didn’t want to pay more.

However, once I hit my 40's, I started to allow myself a little leeway in what kind of vehicle I purchased, and by extension, what I spent on said vehicle . It started with a used 2006 V6 Mustang , and continued with a little 696 Ducati. The ‘06 Mustang was eventually traded in on a ‘14 V6 Mustang because I again felt I couldn’t afford anything more expensive.

And here I am staring 50 in the face - Having a realization that even though I’ve saved up a tidy sum of money for retirement, I really ought to start spending a bit more right now and enjoy however many years of good health the I have left. So, when I achieved a certain financial goal last year, I decided that I would reward myself with a Mustang GT. Even so, I got a base GT... old habits die hard. But, your question was a matter of metrics... the payment on the new pony is less than 5 % of gross earnings per month. The purchase price was about 25% of annual gross earnings, and the purchase price of the car represented less than 3% of my total net worth at the time of purchase. And to put that in perspective, I daily an ‘09 Chevy 1500 Silverado that I bought new, and my wife has a ‘17 Honda Fit that we bought new. The Mustang is the only vehicle we owe money on ... interest rate was low, so why not?

I know that doesn’t answer all your questions about vehicle purchase vs. retirement savings vs. mortgage, but hopefully that sheds a bit of light on how financially responsible (or irresponsible) I am with my fun car purchase.

Urambo Tauro > The Dummy Gummy
10/15/2018 at 21:34

Are you kidding? I have a financial limit before I buy ramen noodles.

getFuckedHerb > The Dummy Gummy
10/15/2018 at 21:39

[quote]Do you have shamoo shows at your house? haha I never realized it could get that expensive.[/quote]

Coral supporting reef tanks can get.... reedic. I have 200 gallons of water volume is all but between lighting, heating, food, salt, etc....

Luckily the tank is mature enough I can sell some coral excess and cover some of the costs but it’s a big line item that would be done quickly should something like a job loss happen... We could slim down to live pretty easily on my income or my wife’s alone if we had to. It would not be fun but it could be done with some fire sale reductions of monthly payments. Bummer part is if you’re selling it at that point you’re probably losing money, but that’s the risk part of the equation.

gmporschenut also a fan of hondas > The Dummy Gummy
10/15/2018 at 21:51

yeah thats a temping ballpark. A premium used car dealeship opened near me and they have a bunch of bmws on the lot that make the jump from senseble commuter tempting

Dr. Zoidberg - RIP Oppo > The Dummy Gummy
10/15/2018 at 21:53

I f I can’t comfortably pay for it with cash then I can’t afford it. I’ve got a mortgage that is a non-zero size and many many bills. Plus I'm paying down our student loans. This, among other reasons, is why my nicest car is 16 years old.

f86sabre > The Dummy Gummy
10/15/2018 at 21:53

Life is short, so get the most car that you can comfortably afford. Don’t be stupid and buy a Lambo and starve, but don’t always count on “ someday” . I picked up my Evo new because I desperately wanted it and I could make it happen without killing myself. It was a stretch though. The amount of smiles have been worth it and I have taken good care of it for 15 years.

I am now at a stage in life where I can afford goofy fun cars and not be too worried about it. It is a cool place to be and there is a classic Mini in the garage next to my wife’s minivan.

wafflesnfalafel > The Dummy Gummy
10/15/2018 at 21:55

H onestly, I’m very conservative financially, (wife had another term - “tight wad”) ... fun cars are a toy that I’ve only recently been able to be a bit more flexible with. And I don’t fit in a Miata... but I loved my 09 Mazda 3 Sport 2.3 MZR hatch (bet I could outrun most you Miata folks - with a decent set of tires that thing c ould take corners at double posted... ) and I’m damn spoiled by my WRX... I’ve always wanted a 911, but unless I win the lottery that’s never going to happen. I’d like a vette, but I also don’t want to be that “old guy by himself in a vette” guy... Maybe a c6 z06... in black... with the Borla catback...

BeaterGT > The Dummy Gummy
10/15/2018 at 21:59

All investment/retirement accounts on auto pilot and then I budget for cars accordingly.

Life is too short to drive boring cars so I made sure to get a fun daily and a fun second car, both that I’m able to do minor maintenence on and don’t feel the need to drastically modify . Did the beater thing for awhile and decided it wasn't for me. I joke that my C5Z is a beater but it’s hard to beat the performance for dollar and reliability. I also never want to feel like I can’t put miles on or be scared to drive any of my cars. Of course this will probably all change as adult life sets in.

As for car value as percentage of salary, I would be less inclined today to take on a more expensive car than one or two years ago due to interest rates alone. I can’t see paying cash for a car unless it’s pretty cheap like a few grand.

gearboxtrouble > The Dummy Gummy
10/15/2018 at 22:15

Depends on the definition of “fun car”. If its something cheap like a miata go for it on financing because it is not a huge risk and manageable on most salaried incomes. Counterintuitively, I’d always recommend buying expensive cars (a luxury) with cash. This not only forces you to save up to the point you know you can afford it but more importantly forces you to think long and hard about what else you could do with that money instead. It’s only when you know that you can write the check without sacrificing anything material that something like an expensive car makes sense. It’s always a lot easier to spend money when it is borrowed because most brains are wired to look at that as a monthly payment. It is a lot harder when it i s $ 100k+ of your own money that you could spend on a house, invest or keep for a rain y day. Needless to say never do this without clearing all student and credit card debts first.

TheRealBicycleBuck > The Dummy Gummy
10/15/2018 at 22:20

I’m cheap. I drove my truck for 18 years before retiring it. It was fully paid off for 14 years. My wife had to goad me into buying something new, then suggested I buy something fast and fun. I figured out a budget and found something that fit within it without straining our finances. We did the same when we bought my wife’s explorer. Right now, I’m driving a rental for work, so we haven’t replaced our wrecked explorer just yet. But we are taking advantage of the situation by saving up the payments. I figure we’ll have about half the cost in the bank when we finally buy a replacement for it.

The Dummy Gummy > getFuckedHerb
10/15/2018 at 22:25

That sounds really really cool. My grandfather used to have a massive tank at his work with a few little sharks in it. I miss it.

Maxima Speed > The Dummy Gummy
10/15/2018 at 22:25

I’m cash only for automobiles. I’m ok with getting a loan on a house because it’s actually necessary. My opinion is that cars are cheap enough I should never finance. I plan on getting a fun car but will save the cash for it. In my mind if I can’t buy it outright I don’t need it yet.

The Dummy Gummy > Urambo Tauro
10/15/2018 at 22:26

Made me laugh. Felt this for a while myself. Used to live on the skirts of Trenton. Legit worried for my life some nights haha.

Nauraushaun > The Dummy Gummy
10/15/2018 at 22:28

My only car is a 2nd gen MR2. It cost $8k (AUD) which is nothing, that was years ago. I drive it weekends, I moved to the city so I can commute.

I didn’t factor the cost into anything since you can’t get much of a car for much cheaper anyway. And it won’t depreciate like a newer car. It’s actually appreciating.

There aren’t many other cars I’d prefer. An Elise is less practical, wouldn’t work as well as my only car. I’d take an NSX but gosh, the cost. Or something more exotic.

If I went more exotic I’d wan’t to buy a house, stop renting, have a garage. So that’s the plan, buy a house, and then I’ll have equity such that I can spend (a lot) more on cars and still be financially sound.

In the meantime the MR2 is absolutely fantastic and frankly I’m better off not craving “better” cars.

The Dummy Gummy > BeaterGT
10/15/2018 at 22:30

True, I’m struggling with my full cash payment method as I consider opting up in class. At least beyond the gap depreciation cost. I know the market is risky, but I think I can still beat 4-5 % YoY auto loan rates. As that creeps, I’d feel safer paying cash then.

The Dummy Gummy > f86sabre
10/15/2018 at 22:52

This if kind of how I’m feeling. I look at my boss who is 8 years older than me and his back is bad. My car is not ‘old’ to me, but ‘old’ to some, at 9years old. But there is no lumbar support and I’m thinking of upgrading to get a bit more comfort for my daily 100mile commute.

But then my inner fiscal sense says hold up... you should be dedicating that money to your family. I can also think of a 1,000 projects I could work on my house with that cash.

BeaterGT > The Dummy Gummy
10/15/2018 at 22:52

Penfed is still doing loans under 4! And like you said, at some point paying cash just doesn’t make sense although I would love to have 75k sitting around to pick up an R8.

David Baker > The Dummy Gummy
10/15/2018 at 23:07

1/2 a weeks pay per mo. for payment/expenses + insurance is totally reasonable. But if your responsibilities are lite, a weeks pay per mo., why not if is what you enjoy. Fuck it, you only live once and no tomorrow is guaranteed

The Dummy Gummy > BeaterGT
10/16/2018 at 00:15

That’s really good to know. My CU currently does 4% for 36mo.

The Dummy Gummy > David Baker
10/16/2018 at 00:16

This gross or after tax pay haha.

BeaterGT > The Dummy Gummy
10/16/2018 at 00:50

They are enthusiast friendly for sure, gave me a 1.9% used auto loan early last year. Somewhat c razy to think my savings account earns more than that in the current market.

t0ast > The Dummy Gummy
10/16/2018 at 09:46

Purchase/loan price of 30% of annual salary has felt like a decent hard limit for me with the added caveat for loans that I never put myself in a position to be upside-down. That said, I’ve only ever made one car purchase that was actually near that percentage, and I’m also coming at this from the angle of someone with upper-middle class income living in a very affordable part of the U.S. and no significant debt. If I had more substantial ongoing or overlapping expenses, I’d either delay the purchase or lower that percentage to (guessing) ~20% so I could still comfortably handle the more critical money sinks of bills, retirement, home improvement/repair, etc.

davesaddiction @ opposite-lock.com > The Dummy Gummy
10/16/2018 at 10:29

I was 34 before I bought my first sports car/fun car - an ‘08 M3 sedan, bought in 2012 (a “used family sedan”, that just happened to have a screaming 400+ hp V8, RWD, manual transmission...) . Prior to that, I drove an ‘05 Mazda 3s hatch for 7 years. Both my wife and I had good jobs by then, and we’d built up some decent retirement savings and had started saving for the kids’ college as well. $40k was still a big chunk of change to drop on a car, but we could afford it, and my wife encouraged me to get a car I’d really enjoy. I paid it off in 2 years, was my daily for 6 years and it’s seen many track days and backroadtrips, and I still have it - now has 120k miles on it. I drove it to work today, but it’s now more of a fun car. I drive my truck to work most days. My car hasn’t been cheap to own and run as far as maintenance, consumables, and repairs, but it’s hard to measure the enjoyment it’s given me!

davesaddiction @ opposite-lock.com > bhtooefr
10/16/2018 at 10:33

Wait, your answer is to buy a Prius and sell your fun car...?

davesaddiction @ opposite-lock.com > getFuckedHerb
10/16/2018 at 10:34

“ Audi R8 V10 Manual” Yes! What are these going for now?

davesaddiction @ opposite-lock.com > The Crazy Kanuck; RIP Oppositelock
10/16/2018 at 10:36

I assume his plan is to save a shitload and retire early.

davesaddiction @ opposite-lock.com > The Dummy Gummy
10/16/2018 at 10:41

Does the 328d suffer from the same carbon build up issues the 335d does? My boss had quite a bit of trouble with his.

WiscoProud > The Dummy Gummy
10/16/2018 at 12:20

I’ve personally never spent more than $20k on a vehicle and I’m 38. We bought my wife a car for just under 30 that i cosigned on, but I’m not counting that.

With my present debt load, I don’t want my payment really any higher than 10% of my take-home pay. But once we get student loans and stuff paid off, my comfort level will rise. At the end of the day, I’m cheap and like to hunt for deals.

The Dummy Gummy > t0ast
10/16/2018 at 14:38

I’m also coming at this from the angle of someone with upper-middle class income living in a very affordable part of the U.S.

I think I can assume what you’re i mplying, but as a caveat low cost of living area normally come with low salaries.

The Dummy Gummy > davesaddiction @ opposite-lock.com
10/16/2018 at 15:02

My car hasn’t been cheap to own and run as far as maintenance, consumables, and repairs

I think my biggest fear is the maintenance with a BMW. My last one was basically a giant sink whole of cash.

The Dummy Gummy > davesaddiction @ opposite-lock.com
10/16/2018 at 15:03

I have to assume they are all very similar even though you’re running a v6 vs the v4. I’m not sure, but these the fears I have.

The Dummy Gummy > WiscoProud
10/16/2018 at 15:06

I think that’s where being a little more bold with my car purchase comes in. I have no debt except for my mortgage, kids college funds fully paid for, retirements maxed, safety fund loaded .

The most I have ever spend (excl my wifes new car) is $24k, but I like to hover around $14k which I pay in cash. I also have a new little one on the way and even though all future expenses are covered any immediate needs make me super cautious. I guess it’s best to err on the side of caution, but damn the 328d wagon is super t empting .

davesaddiction @ opposite-lock.com > The Dummy Gummy
10/16/2018 at 16:18

I wouldn’t call mine a sinkhole, but I definitely wouldn’t recommend owning one if you couldn’t truly afford it.

t0ast > The Dummy Gummy
10/16/2018 at 16:39

Sort of. Salaries do follow the area’s costs to some extent, including mine , but being a software engineer still pays pretty well by most locations’ standards.

getFuckedHerb > davesaddiction @ opposite-lock.com
10/16/2018 at 17:52

~$90-110k

davesaddiction @ opposite-lock.com > getFuckedHerb
10/16/2018 at 18:17

https://www.goodwood.com/grrc/columnists/dan-trent/2017/7/Dan-Trent-The-Audi-R8-V10-manual-is-a-future-investment-supercar/

The Crazy Kanuck; RIP Oppositelock > davesaddiction @ opposite-lock.com
10/16/2018 at 18:31

Save yes, retire? Haha, he is 55 & no plans is retirement yet.

The Dummy Gummy > davesaddiction @ opposite-lock.com
10/16/2018 at 19:00

Wouldn’t go M3, but 328d. I think any BMW will be high maintena nce cost as it gets older though.

The Dummy Gummy > t0ast
10/16/2018 at 19:01

No no, I got you. Just clarifying for future. I wish I was paid more. I get paid a little. What I get , I keep it in a jar on top of my fridge.

B_dol > davesaddiction @ opposite-lock.com
10/16/2018 at 20:59

Possibly a car enthusiast, undoubtedly not a driving enthusiast. All my car decisions to date look insane to the average person, however none have really stressed the budget.

Key is used cars and indy shops or DIY maintenance.

f86sabre > The Dummy Gummy
10/16/2018 at 21:45

You spend 90+ minutes in your car a day. You should enjoy it. If your drive is crappy stop and go then get a car that is comfortable, easy to drive and has a great entertainment system. If you are able to enjoy fun roads then get something that is fun there. Either way it should make you smile when you get in it.

I commuted with the Evo for a long time. 60 miles a day. Stick, no cruise, it sucked in stop and go, but damn it was fun and I was excited to get in and drive.

The Dummy Gummy > f86sabre
10/16/2018 at 22:23

2 hrs and change :). You are right. It’s mostly high way but there are a good amount of days it comes to a stop on the highway because of rubber neckers.

No fun roads... at least none that don’t add tons of time onto the drive.

I like your thinking thing. I actually want a stick even with the stop and go, but hard to find new cars with it that aren’t sports cars.

davesaddiction @ opposite-lock.com > The Crazy Kanuck; RIP Oppositelock
10/16/2018 at 22:52

Hard to give up that kind of coin while it’s flowing!

The Crazy Kanuck; RIP Oppositelock > davesaddiction @ opposite-lock.com
10/16/2018 at 23:07

Being doing it for 25 years, he just really enjoys it.

getFuckedHerb > davesaddiction @ opposite-lock.com
10/17/2018 at 00:22

damnit, now everyone is going to go take all the good bargains.

davesaddiction @ opposite-lock.com > The Crazy Kanuck; RIP Oppositelock
10/17/2018 at 08:42

That’s good. And a pretty sweet life to be able to travel as much as he does.