Rant : How much is too much to spend on a car?

[DrVenture]

I stayed at home for a few years after high school earning enough for college. I lived at college for the next three years (15 hours of community college and CLEP out of 18 college hours), then bought my first house two years after that, mostly stayed with my girlfriend for the two years after college.

Then I drove economic/reliable vehicles for 15 years. Then around 2000 performance cars started getting much better and I started buying them again.

I have no regrets over the time I spent living a bit frugally, while acquiring assets that were used to pay down my mortgage and build college funds and invest in the markets. Now I can buy anything I want. I still chose a used M550, even though I could afford outright a new M5 CS, easily. Paying twice as much would not have given me double the pleasure. But, it might've doubled my anxiety over driving it. lol

I agree that balance is the key. I have discussed this with my son who at 30 has a combined family income of about $250K, owns a home outright and still plays it extremely safe. They have one 8 year old Civic EX between them. Yeah, life is good.

Meanwhile, I am faced with the realization that my income (due to investments) at this point, so far exceeds my needs that I may need to find something I am passionate about buying or spending money on. So, there is that. Imagine the folks who leave billions to "causes", like Buffett.

[AmuroRay]

Originally Posted by DrVenture

I stayed at home for a few years after high school earning enough for college. I lived at college for the next three years (15 hours of community college and CLEP out of 18 college hours), then bought my first house two years after that, mostly stayed with my girlfriend for the two years after college.

Then I drove economic/reliable vehicles for 15 years. Then around 2000 performance cars started getting much better and I started buying them again.

I have no regrets over the time I spent living a bit frugally, while acquiring assets that were used to pay down my mortgage and build college funds and invest in the markets. Now I can buy anything I want. I still chose a used M550, even though I could afford outright a new M5 CS, easily. Paying twice as much would not have given me double the pleasure. But, it might've doubled my anxiety over driving it. lol

I agree that balance is the key. I have discussed this with my son who at 30 has a combined family income of about $250K, owns a home outright and still plays it extremely safe. They have one 8 year old Civic EX between them. Yeah, life is good.

Meanwhile, I am faced with the realization that my income (due to investments) at this point, so far exceeds my needs that I may need to find something I am passionate about buying or spending money on. So, there is that. Imagine the folks who leave billions to "causes", like Buffett.

You can pay into my mod fund - it's for a good cause. These camber plates and coil overs wont buy themselves unfortunately.

[///MPhatic]

Originally Posted by the_abe

Every $1 wisely invested at 25 is worth around $2 at 35, $4 at 45, $8 at 55, $16 at 65.

Would you rather have a mid-range bmw now, or a m3 in 10 years, a porsche in 20 years, or a lambo in 30 years?

You assume way too much.

"Wisely invested" is more difficult than you make it out to be.

And there is no guarantee that anyone will live 30 more years, or that they'd enjoy a Lambo more then than they would a BMW now.

Sounds like you're speaking about yourself, not about the average guy.

[DrVenture]

Originally Posted by AmuroRay

You can pay into my mod fund - it's for a good cause. These camber plates and coil overs wont buy themselves unfortunately.

Do you take personal checks? I can have Jessica Alba deliver it, if that works for you.

[Hubie33]

At the end of the day it's not about your wealth, reputation, jobs, titles, the cars you owned or driven, it's about how you lived your life. Security isn't found in wealth and the material things of this world. The most important thing is being a good person, being thankful to God for all the blessings and how you treat people along the way. All this is passing. I have owned 8 BMW's (with number 9 stuck in a stop sale)and 5 Porsches, I don't say this out of pride, but with clear understanding I was never satisfied, always wanted the latest and greatest next car that I coveted.

Do the best you can and don't live in the past lingering with guilt. Forgive yourself, learn from your mistakes and move forward. At the end of the day the vanity we have and our passion for cars can only take you so far. I try to keep this in perspective.

[DrVenture]

Originally Posted by ///MPhatic

You assume way too much.

"Wisely invested" is more difficult than you make it out to be.

And there is no guarantee that anyone will live 30 more years, or that they'd enjoy a Lambo more then than they would a BMW now.

Sounds like you're speaking about yourself, not about the average guy.

It isn't an all-or-none proposition.

Dollar cost averaging into a S&P fund has a very high likelihood of success over time - like the last 100 years. And there are many, many miserable 'average guys' who incorrectly assumed they would die young(ish). This we can determine by how many are nearing retirement and scrambling to catch up. Which is the rule, not the exception.

We could have a lengthy discourse on proper investment practices, but that would be OT.

Why not all of the above? A good life during one's youth, middle age and retirement? And that is all doable, while still owning a very nice car. But, choosing to emphasize one above all the others is another option.

But, to your point, as one ages the thrill of certain things does recede a little. So, yeah, enjoyment should not be totally deferred.

[DrVenture]

Originally Posted by Hubie33

At the end of the day it's not about your wealth, reputation, jobs, titles, the cars you owned or driven, it's about how you lived your life. Security isn't found in wealth and the material things of this world. The most important thing is being a good person, being thankful to God for all the blessings and how you treat people along the way. All this is passing. I have owned 8 BMW's (with number 9 stuck in a stop sale)and 5 Porsches, I don't say this out of pride, but with clear understanding I was never satisfied, always wanted the latest and greatest next car that I coveted.

Do the best you can and don't live in the past lingering with guilt. Forgive yourself, learn from your mistakes and move forward. At the end of the day the vanity we have and our passion for cars can only take you so far. I try to keep this in perspective.

I agree with all of this. Well put.

[David70]

Originally Posted by the_abe

Young people have a superpower that few take advantage of and that is the power of compounding. Every $1 wisely invested at 25 is worth around $2 at 35, $4 at 45, $8 at 55, $16 at 65.

Would you rather have a mid-range bmw now, or a m3 in 10 years, a porsche in 20 years, or a lambo in 30 years?

Originally Posted by ///MPhatic

You assume way too much.

"Wisely invested" is more difficult than you make it out to be.

And there is no guarantee that anyone will live 30 more years, or that they'd enjoy a Lambo more then than they would a BMW now.

Sounds like you're speaking about yourself, not about the average guy.

Doubling your money every 10 years is a 7% return, pretty simple. If wanting to double your money after factoring in inflation you need roughly 9-10% return (return - average inflation rate), more difficult but still not genius level investing.

As for the " no guarantee that anyone will live 30 more years" - its true, nothing is guaranteed, you may not wake up tomorrow or next week but most decide they need to plan on it happening as the downsides of living a long time and having nothing can be a disaster.

[DrVenture]

Originally Posted by David70

Doubling your money every 10 years is a 7% return, pretty simple. If wanting to double your money after factoring in inflation you need roughly 9-10% return (return - average inflation rate), more difficult but still not genius level investing.

As for the " no guarantee that anyone will live 30 more years" - its true, nothing is guaranteed, you may not wake up tomorrow or next week but most decide they need to plan on it happening as the downsides of living a long time and having nothing can be a disaster.

Yep, and the S&P has a 12% annual return over the last 15 years, which includes several serious economic dislocations.

[RM7]

You work your life away so you can finally have nice things when your body is broken down.

[ASAP]

personally... i would have a hard time spending over $100k on a car no matter how much money I had... simply because I don't think a vehicle is worth that... again... people will have other opinions... to be fair I don't think a new G80 m3 is worth 90k either... but a 2 yr old one at 65k becomes a reasonable option... its not really about how much it costs but more about whether its a waste of $ to me... if i was rolling in millions, then maybe i'd grab a 911 Turbo S... but i dont have to worry about that lol... i could afford multiple G80 m3's now for cash but i think its a waste of $... and would prefer a 3 year old 65k example... to be fair though... you wouldn't catch me in anything below a new Golf R either lol

[DrVenture]

Originally Posted by RM7

You work your life away so you can finally have nice things when your body is broken down.

Sounds like an argument for proper diet, exercise and early retirement. The last one probably doesn't equate to buying a series of BMWs. lol

[ASAP]

Originally Posted by DrVenture

Sounds like an argument for proper diet, exercise and early retirement. The last one probably doesn't equate to buying a series of BMWs. lol

It doesn't work that way... life is life and health problems can start with no warning... i know a lot of people right now that are wealthy... they are also 65 and cant take trips like they use to and all their passion for fast things like i enjoy is now long gone... YMMV... you get only 1 chance.

Best example I can come up with is... the Bmw M5... always wanted to have one but couldn't afford it at the time... now I can afford it... but I definitely don't want the car they make now... frankly that's true with a lot of cars and the shift to EVs

[///MPhatic]

Originally Posted by Efthreeoh

Just how I'd spec one. That's motorcycle spec right there.

This is too perfect not to share.

Earlier I typed "Roast the Lotus Exige" into ChatGPT, and this is what I got.

Brilliant! haha

[Efthreeoh]

Originally Posted by ///MPhatic

This is too perfect not to share.

Earlier I typed "Roast the Lotus Exige" into ChatGPT, and this is what I got.

Brilliant! haha

First well written piece from ChatGPT that I've read. Couldn't have been on a better subject.

[DrVenture]

Originally Posted by ASAP

It doesn't work that way... life is life and health problems can start with no warning... i know a lot of people right now that are wealthy... they are also 65 and cant take trips like they use to and all their passion for fast things like i enjoy is now long gone... YMMV... you get only 1 chance.

Best example I can come up with is... the Bmw M5... always wanted to have one but couldn't afford it at the time... now I can afford it... but I definitely don't want the car they make now... frankly that's true with a lot of cars and the shift to EVs

My comment about exercise and eating well was a jest actually. I am certain that you can find the M5 of your dreams. It doesn't have to be new. You can find a garage queen and make it like new, all it takes is money. Or elbow grease. Living for the moment should be a strategy from cradle to grave. And if it doesn't make you grin enough these days, they make a pill for that too. I recommend weed gummies, small doses really brighten up my day!

[Efthreeoh]

Originally Posted by DrVenture

My comment about exercise and eating well was a jest actually. I am certain that you can find the M5 of your dreams. It doesn't have to be new. You can find a garage queen and make it like new, all it takes is money. Or elbow grease. Living for the moment should be a strategy from cradle to grave. And if it doesn't make you grin enough these days, they make a pill for that too. I recommend weed gummies, small doses really brighten up my day!

The cradle part is on your parents, the grave part is on you. It's expensive to get to the grave. Requires a plan with unknown variables.

[XutvJet]

Originally Posted by ASAP

It doesn't work that way... life is life and health problems can start with no warning... i know a lot of people right now that are wealthy... they are also 65 and cant take trips like they use to and all their passion for fast things like i enjoy is now long gone... YMMV... you get only 1 chance.

Best example I can come up with is... the Bmw M5... always wanted to have one but couldn't afford it at the time... now I can afford it... but I definitely don't want the car they make now... frankly that's true with a lot of cars and the shift to EVs

I don't know how old you are, but right about 40ish, my desire to own fast (sub 12 second cars) dwindled a lot. I saw the same thing happen with my dad and it perplexed me as a teenager at the time. I could easily go out and buy a Cayman GT4 with cash right now and it would have little impact on my overall net worth. BUT what is really strange is that once I developed a decent amount of wealth, the things I thought I wanted in life like fancy expensive $100K+ cars, homes, whatever largely fell to the side. I'm 50 now and have a freaking blast driving and working my 265hp Cayman. I also detuned my M235 10 months ago and now it just has a catted downpipe and nothing more. The M235 is plenty fast for me now.

I've learned that I love driving cars that can be pushed fairly hard on the street. Both cars look and sound WAY faster than they really are, but to the observer, an upper 12-mid 13 second car accelerating full tilt looks no slower than a low 12/upper 11 second taking off. Sounding and looking fast is fine with me. Many performance cars these days are too damn fast and refined thus they need to get faster and faster to convey a sense of acceleration.

I'm right there with you about late model cars generally sucking. I would not hesitate at taking my chances on a well maintained E39 M5 and work on it myself.

[Efthreeoh]

Originally Posted by XutvJet

I don't know how old you are, but right about 40ish, my desire to own fast (sub 12 second cars) dwindled a lot. I saw the same thing happen with my dad and it perplexed me as a teenager at the time. I could easily go out and buy a Cayman GT4 with cash right now and it would have little impact on my overall net worth. BUT what is really strange is that once I developed a decent amount of wealth, the things I thought I wanted in life like fancy expensive $100K+ cars, homes, whatever largely fell to the side. I'm 50 now and have a freaking blast driving and working my 265hp Cayman. I also detuned my M235 10 months ago and now it just has a catted downpipe and nothing more. The M235 is plenty fast for me now.

I've learned that I love driving cars that can be pushed fairly hard on the street. Both cars look and sound WAY faster than they really are, but to the observer, an upper 12-mid 13 second car accelerating full tilt looks no slower than a low 12/upper 11 second taking off. Sounding and looking fast is fine with me. Many performance cars these days are too damn fast and refined thus they need to get faster and faster to convey a sense of acceleration.

I'm right there with you about late model cars generally sucking. I would not hesitate at taking my chances on a well maintained E39 M5 and work on it myself.

Same here. I'm very happy with my 260 HP Z4 Coupe; picked over an '08 Cayman, no disrespect meant, I just liked it better. But regarding expensive cars, I'd rather have the five (5) and one (1) motorcycle I have than one or two expensive cars. I get to drive a different car every day. And I have a vehicle for every occasion.

[DrVenture]

Originally Posted by XutvJet

I don't know how old you are, but right about 40ish, my desire to own fast (sub 12 second cars) dwindled a lot. ...

I'm right there with you about late model cars generally sucking. I would not hesitate at taking my chances on a well maintained E39 M5 and work on it myself.

It is why I still have my 2008 GT500 and never chased the latest models. It is the epitome of 1960's muscle cars with enough tech to make it very safe and reliable. Airbags, ABS, basic reliable fuel injection and ignition. Very easy to work on and modify. And one really big positive - a huge enthusiast community to share maintenance/repair/mod info and massive aftermarket.

This new-to-me M550 is an experiment for me. If I wasn't driving so few miles these days, I might've avoided it. There will be a learning curve as I address any maintenance issues and it is much harder to find info, since so many in the community rely on professionals for service.

Agreed on the fact that sub-12 second cars are not something I am chasing any longer. Though I do have two of them.

[David70]

I'm the opposite, recently went from my 2006 Z4M - 330 hp 269 ft. lbs. of torque to a 2020 Aston Martin Vantage 503 hp, 505 ft. lbs. of torque. A type of car I always wanted but wasn't willing to buy until I hit my other goals.

[DrVenture]

Originally Posted by David70

I'm the opposite, recently went from my 2006 Z4M - 330 hp 269 ft. lbs. of torque to a 2020 Aston Martin Vantage 503 hp, 505 ft. lbs. of torque. A type of car I always wanted but wasn't willing to buy until I hit my other goals.

Yeah, that is a nice ride. Great looks, great specs. I never see them on the road.