Does it make sense to buy a 50,000 dollar car if your yearly package before tax is 120,000?
I have 100K in savings and want to buy in cash, to avoid monthly payments. Appreciate any mentorship or advice.

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It depends on your goals. When I graduated college, I paid 22k when I was making 65k. My priorities have changed and my recent car is 19k while I’m making 175k, since I would rather invest the remaining money nowadays

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@mb I have my investments in QQQ, VOO, and VTI index funds (long term). If I’m buying a year away, I’d just keep it in savings.

What kind of a car are you considering? A new Merc?

Honestly I would either lease the Mercedes to avoid the troublesome and costly maintenance and repairs around the 5 year mark. Either that or buy a low mileage Mercedes that has already taken the depreciation hit. If you want a long term car, I’m not convinced that a German car known more for performance than reliability is the move here. If ownership is important, I would rather look at Japanese/Korean cars known more for reliability than performance.

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