I would pay for half, he pays for half, and then we each get it for half of the year. Thinking about the Model 3 Standard Range (~$40k after fees tax and incentives etc). The other sibling uses an existing 2014 Toyota Corolla for that half of the year. Switch every December and June. Thoughts? My sibling’s financials look a little worse than mine but similar. Do you think its too young in life to be spending $20k to use a fancy car for half the year? Should I focus on growing my net worth before spending money on fun crap like this? Or am I at the point where this is an ok decision? Location: Bay Area YOE: 2 TC: $235k Net worth: $160k (Btw the sibling is definitely good for the money, and while we bicker sometimes, we never fuck around when it comes to money) If one of us crashes it, then that person pays for repairs. If it’s normal mantenence, then we split it. We can write a contract to make the details of that clear.
Huh? Why?
Also, how’s insurance going to work?
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Go for it
Just buy the car urself
Yeah... Don't do this. Cars are literally a depreciating asset -- yes, even though Teslas get software updates -- and there is no reason to buy a new one; additionally, this plan to share it for half the year is ridiculous.
Things done for fun and entertainment do not need to be good investments. Value your time and enjoyment more.
You don't buy a car "for fun and entertainment". Nobody in their right mind does that.
This won’t end well. Buy a cheaper car If you can only afford the base model and not the autopilot features, there is zero point. You are looking for an excuse to buy a toy
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Do it! 🥰
Awww