At what income do you think it is reasonable to buy a 100 000$ car?
 

at 100 000$ a year? 300 000$ a year? 500 000$ a year?


please discuss

depends completely on the person, i know people who earn 100k a year who drive really flash cars, and people who earn more than 500k who drive cars worth under 3k.

Never unless you are metro.

Depends if you're putting down the 100k at once, or making downpayments. At once, I'd say, at least over $150k-$250k a year. Downpayments.. $100k/y will do I guess.

buying a car that is more than 50% of your annual net income is foolish... IMHO

please read rich dad poor dad

I have

who sais it is me who is planning on buying a 100 000$ car?

What's so great about that book, I have heard tons of good things.

A briefing please

When you can pay in cash.

At your age, get a fucking honda civic, put 10 grand into it and keep the rest of the cash in the bank

that would be paying for a car less than he probably makes per month

Best answer yet.

Depends on what your long term goals are for it. Are you going to buy a $100k car new, drive it for 5 years, then sell it at a fraction of its value? Or are you going to buy it slightly used, drive it for 1-2 and keep it in good condition, and then sell it and get much of your money back?

Personally, I'd never buy a $100k car unless money had become immaterial. Unless you're retired and enjoying what you've got saved up, why not buy a car at half that price, and then put the half you saved into a moderately conservative money market fund?

So the question becomes at what income that $100k is immaterial. Having a car like that for say, two months of work would be reasonable, which equates to $600k a year, take home. Double it at taxes and you're at over $1M - at least from my perspective

Your yearly income should be the same or higher than the car you're buying.. (if financed)

..and that's a bad thing? I drive a car which I bought with money that were less than my monthly income at the time. Flashy cars are for old men who want to score with shallow, sweet looking sluts.

Lease one, talk to your cpa.

It depends on the person.

Even if I made $1mill a year, I'd still just have my bike and rent a car when I needed to go away for longer periods. A car is just an enormous waste of money.

I am not judging it.

But you know bdjuf, hes the young metro guy, who's looking for young sluts, so I can understand that he wants a flashy car.

And still keep quite some money on your account.

great you read it but it didnt sink in because you wouldnt have asked a question like that.

read it again till it sinks in :thumbsup.

depends what insurances are, if its a 2nd hand rolls its totally diff then a 100k lexus...

Very well put, the only side note would be Brad Shaws point about a CPA. If you run your own business sometimes the tax situation makes it easier for you to spend that money on the car directly, then putting it in your pocket. If you got a good enough CPA, he'll work out a way for that car to not be such a burden as long as you have a decent solid company.

no need for fucking 100K on a car. 50K is okay

I am now looking for a flashy car.

when it comes to cars or bigger buys I only buy when I can pay it cash out of my pockets.
So when you got 100k to waste go ahead and do it
this is not something I'd connect to yearly income

Depends not only on your income but other debts and living expenses you may have. I say just go for whatever car you want. If you make 30k a year (uh hum) and are making a downpayment (buy or lease) shop around and make a deal. I personally dont think the car you drive should be based on your income. You go with what you like and are willing to spend for it. .. well thats what us poor people say anyway :)

atleast double the price of the car should be your income

mmmm shallow, sweet looking sluts.

i'd say unless you have the cash to buy it you don't make enough. personally i'd rather spend 10k cash on a good car that will last me rather than ending up paying almost double the sticker price because of the interest rates for some flashy thing to impress chicks. who really wants a chick that is so impressed by a hunk of metal that she'll fuck you just because you own it? i do want to buy a nice car, don't get me wrong. if i had 100k extra to spend i'd buy me a nice one but i'd be happy with a new caddy or something but until i have the cash im gonna keep driving my 85 monte carlo. paid 3 grand 7 years ago and she has never broke down on me and i still get strangers wanting to buy it off me

350k/year

honestly I think it depends on how important an expensive car is to you. If you have 200,000 cash saved think its ok do just go ahead and do it if its something you really want

When you think its time too.

To this day I refuse to spend lots of money on cars, regardless of my income. All I care about is having AC and a good CD player. I much prefer to waste my money on taking lots and lots of vacations...just got back from Florida on Wednesday and we're taking a 10 day Carib. cruise in less than 2 weeks :thumbsup

if you have extremely stable income coming in, just make sure you can afford the monthly payments and that your interest rates are low and you're all set.