Should I buy an expensive car?

Facebook Rajnikanth
Apr 10 39 Comments

Single and don’t plan to have kids
TC 260k

I feel like I should splurge on an expensive convertible or a Tesla budget 60k but not sure if it is a good decision since I’m scared paying so much for a depreciating asset. Currently drive a 2012 Lexus

I don’t really plan on buying a house as I prefer the freedom of moving if required. But still keeping money aside for a down payment. Also scared that I may not be able to cash in on a downturn in case there is one around the corner.

I’ve mostly worked hard growing up and now. Got 2 exceeds in a row after joining Fb.

Net worth 370k

What would you do?

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TOP 39 Comments
  • EY / IT
    DblBogEY

    EY IT

    PRE
    Microsoft
    BIO
    How do you solve a problem like MarEYa?
    DblBogEYmore
    Don't do it. I am a multi-millionaire. I did not get that way by purchasing silly things like expensive cars. I can retire whenever I want. I drive a 25-year-old beat-up truck. The comfort of knowing that I can retire whenever I want far exceeds the comfort of a new expensive car that I'll only spend a few hours a week in. I am married with kid and have a total compensation of about $240,000.
    Apr 10 4
    • Salesforce / Eng namehere1
      Disagree. I’m also a multi millionaire but with fancy cars. Can still retire whenever I want.
      Apr 10
    • Google take
      How come you are multi millionaire with TC of only $240k. How many years have you been working?
      Apr 10
    • Intel / R&D Riso4ever
      Why not both? I’m stuck in traffic for literally 10 days a year (do the math, you’d be surprised); I might as well be riding in comfort and enjoying it. Everyone has their little pleasures in life; what do you plan on doing with all your money otherwise?
      Apr 10
    • "The comfort of knowing that I can retire whenever I want far exceeds the comfort of a new expensive car" --- this is you not him. He's not you so while discourage him.

      The comfort of him in an expensive car might exceeds retiring early. We are all different remember!
      Apr 11
  • Microsoft ncfj
    Personally, I think it's a stupid idea. Luxury cars aren't "affordable" unless you can buy 10 of them. I don't mean you should buy 10, but that should be the barometer of affordability.

    At the same time, I don't personally value cars as much as you (assumption)
    Apr 10 3
    • OSIsoft wikendHack
      The first paragraph is the best advice. I have similar thoughts about buying a house. Just that for house the number is not 10.
      Apr 10
    • LinkedIn ex-fb
      House is an investment
      Apr 11
    • That seems arbitrary
      Apr 11
  • Nvidia monolith
    I would, that is because I like driving expensive cars and I am also not taking all that money to my grave. Do whatever you think will make you HAPPY. Thats it.
    Apr 10 0
  • Amazon / Product
    .🦔...

    Amazon Product

    BIO
    🤐
    .🦔...more
    Rent fancy (and routine) cars on Turo like websites at your will and wish.
    Benefits:
    1. Options!! Tesla, BMW, Audi, Merc, Maserati, Lambo... you name it, you can rent it!! you won’t get bored ever.
    2. No sunk costs/ No worries of depreciation / rent per use/ No need to be scared :)
    3. Can still drive your old is gold Lexus.
    Apr 10 1
  • Wells Fargo hsLy13
    Hope you Remember this thalaivar movie dialogue...Sivaji nee pesama indiavukey poidu sivaji...Oru car vangava ipdi yosikura...
    Apr 10 1
    • Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.
      Apr 11
  • Intel no_name?
    Delay your gratification with an appreciating asset. You already have a Lexus.
    Apr 10 0
  • Amazon / Product
    .🦔...

    Amazon Product

    BIO
    🤐
    .🦔...more
    Dude, you are Rajni - Thalaiva. You should be buying Tesla the firm not the car! 😆
    Apr 10 0
  • LinkedIn let
    The thrill of a new car goes away in a few months. Not worth it. Or may be you are a different type of person. So think back to when you bought your Lexus. How long did the high last?
    Apr 10 1
    • If I could buy a few months of happiness, sounds like money well spent
      Apr 11
  • Amazon / Eng
    bbserver

    Amazon Eng

    PRE
    Microsoft
    bbservermore
    Buy a house first. In the right market you can rent it out/save on rent enough to cover the mortgage so all you’re paying is the downpayment and it’ll grow itself.
    Apr 10 0
  • Uber
    2muchblind

    Uber

    PRE
    Apple, Microsoft
    2muchblindmore
    Nice cars get old fast. And you start to realize how much more money you could’ve made if you invested that much.

    Do some kind of short term lease thing to get it out of your system.
    Apr 10 0
  • Apple / Eng fruitco334
    Fuck flexing by buying a Tesla dude, unless you’re gonna buy a P100D and spec it with ludicrous speed. Most boring car you can own in Silicon Valley.

    Get a 911 Turbo S (outruns a Model S anyway), an R8 V10, Audi RS5, Mustang GT500 etc, or for interesting EV’s, the new Audi E-Tron GT, or Porsche Taycan. Or get a Model 3 and one of the above. You’ve got the money.

    Edit: I do want to disclaim that I’m not a Tesla “hater” - my dad was a very early model S owner and i’ve driven them all. But objectively, they’re common here and thus not interesting.
    Apr 10 2
    • BNY Mellon / R&D
      🐖ilton

      BNY Mellon R&D

      PRE
      Goldman Sachs, HP
      🐖iltonmore
      Tesla is next PT Cruiser.
      Apr 10
    • Apple / Eng fruitco334
      I wouldn’t go that far. PT Loser was shit when it was new
      Apr 10
  • Everyone in here talking like their life is guaranteed. 60k is not even enough for some trucks.

    Man, if using an expensive car makes you happy, go for it. You worked hard for your money and you can use an expensive car while still working towards financial independence/freedom.

    We are all different.......I bet people saying no either spend money on traveling, expensive arts, alcohols, or expensive restaurants so what's the difference.
    Apr 11 1
    • Amgen yiXR75
      I’m with you...the last thing I want to be is my chinese in laws sitting on cash their whole lives and no hobbies or desire to travel. I would say though accumulating things sucks but I’ve never regretted travel, a nice car or meal.
      Apr 11
  • Microsoft iiieeegemm
    If you want am electric car tesla is the best right now. I say go for it.

    But if you're just looking for fancy I wouldn't even consider the tesla.

    BTW electric cars are really fun to own and drive. They are quite a bit different than regular old dinosaur vehicles. And they will cost you barely anything in maintenance.
    Apr 11 1
    • Amgen yiXR75
      The BMW i3 is more fun IMHO and you get way better leasing deals and incentives + the $7500 Federal Credit still applies since they haven’t sold as many as Tesla.
      Apr 11
  • Datadog NgHU82
    Buy a pre-owned Tesla, they depreciate a lot but really don’t physically lose value with miles the way ICE cars do so great value. For $40k you can get a hell of a lot mor than for $60k new. A higher end model S.
    Apr 11 0
  • New / Eng young$$
    Remember YOLO
    Apr 10 0
  • Adobe tetr@
    Lease an expensive car. If you want it, just get it. You ain't taking that money anywhere. It's not a big dent with your financial position
    Apr 10 0
  • Facebook Pricilla
    Cars are lame
    Apr 10 0
  • NIO SGNK32
    Lease one and see how that affect your life.
    Apr 10 0
  • Amazon / Eng Yolo!
    Pat yourself and Go get some blow too!
    Apr 10 0
  • Uber QkzQ40
    What’s wrong with your Lexus? I’d buy a new Tesla if your current car was 10yrs old, but not before then. It’s a middle ground option.
    Apr 11 0