|
I am wondering people's thoughts, when is it "reasonable" or prudent to buy a new M3, versus M5, versus $150k+ car? How about super cars, etc? What is your philosophy?
For me personally, the goal is FIRE-financial independence retire early - ideally retire by 50-55. So even though I have the ability to buy a brand new ride, doesn't mean I should. That is my personal/new philosophy, so likely my next car will be a used F80, rather than springing for a new gen M3 or M5. Yield of retiring early>>buying nice cars.
So, my thought is to put just 3% of my net worth towards a car purchase (assuming cash purchase, no finance needed). I definitely haven't lived by those rules when younger, but I think for my next purchase I would like to.
Curious if there are others that think similarly, although I doubt many people here think like I do. I see some really sweet cars in people's stables and often wonder, what is the thought process that goes into buying a 911 or Ferrari.
|