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Old 09-09-2012, 03:46 PM
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LukeS LukeS is offline
Officially Welcomed to the 'Fest
Location: PA
 
Join Date: Jul 2012
Posts: 346
Mein Auto: 2013 535ix M-sport
Quote:
Originally Posted by rdef View Post
I make 60k in 1990. I WASN'T driving a $75k car then either. Doesn't add up...
Based on a financial advisory I read, people should spend no more then 10% of their monthly income on a car payment(s). So at 60K a year, this is $500 a month max. So over five years this is about a 30K car at today’s interest rates. He is at ~20% assuming he put little down, however, if he is young and single, has no dependents, then why not. When I was in my early 20s, I had a M3 and it was well over my head financially, but I was able to swing it, I loved and enjoyed the car, and it got me laid countless times. So it was well worth the investment. I could have done things differently but at the expense of living. In fact, that purchase helped give me the balls to take bigger investment chances and led me to a better place financially.

IIIF10III, this thread I believe was mocking the "what do you wear on your wrist thread", so don't sweat it. Asking a person for their gross income is a little personal and uncomfortable, even for the richest, and you won't get a straight answer regardless, so your quest is pointless. What's important is that your comfortable with your own finances and make the large purchase well worth the money!!! Congrats and Good Luck!!
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