Should I buy an expensive car?

Apr 10, 2019 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, 2019 4
    • 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, 2019
    • "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, 2019
  • 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, 2019 3
    • LinkedIn ex-fb
      House is an investment
      Apr 10, 2019
    • That seems arbitrary
      Apr 11, 2019
  • 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, 2019 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, 2019 1
  • Wells Fargo hsLy13
    Hope you Remember this thalaivar movie dialogue...Sivaji nee pesama indiavukey poidu sivaji...Oru car vangava ipdi yosikura...
    Apr 10, 2019 1
    • Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.
      Apr 11, 2019
  • Intel no_name?
    Delay your gratification with an appreciating asset. You already have a Lexus.
    Apr 10, 2019 0
  • Amazon / Product
    .🦔...

    Amazon Product

    BIO
    🤐
    .🦔...more
    Dude, you are Rajni - Thalaiva. You should be buying Tesla the firm not the car! 😆
    Apr 10, 2019 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, 2019 1
    • If I could buy a few months of happiness, sounds like money well spent
      Apr 11, 2019
  • 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, 2019 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, 2019 0

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