Those that bought a luxury car ($60k) before hitting 250k+ comp , did you regret the purchase?

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Yes cause i travel m-Thursday night

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I feel bad about my $25K car. I hope it is my last car until the driverless car revolution.

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Used car (clarification)

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The downside of buying used cars that were expensive when new is that repair costs will be in-line with the original sticker.

That said I'm kinda tempted to get an 850CI which I know is a nightmare. I'm all over the place on this car thing.

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Had a few, loved it. If you can afford it and you enjoy it, do it. I had friends who spent more at bars a month than I did on my car payment

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If you want to wrench on it yourself it might not be bad. If you have to pay a BMW/Mercedes/Porsche tech that is whole different ball game.

Also, I'd be surprised if consumables on an S class or even E class (tires, brakes, suspension) are less expensive than an accord. I know when I had my Porsche they were not and they weren't on my last two BMWs either.

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SM1- generally speaking yes a car with a base of 60k is considered the start of luxury but certainly not the top end. From Kelly BB: The average transaction price for an entry-level luxury car is about $40,000 nowadays. The average price for a flagship luxury sedan is closer to $100,000. That's a big gap, and midsize luxury sedans are here to fill it with an average selling price of around $55,000.

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I bought the 80k car for 15k.... I don’t regret it

Buy late model used or lease new. Much better deal. That said, I bought a new car after the $250k base mark b/c I wanted to order an M3 car to my specifications.

Luxury is 60k?

Dir2 my experience has the opposite. Owned a couple of high end German and Japanese cars, and in all instances I paid 15-20% of original sticker though I buy cars with 100k miles on them. By then all major issues have been fixed, and I drive them for another 80-100k and still sell them for market value!

I find the parts on higher end cars last longer, and in many instances their replacement after market parts were cheaper than Accord or Camry parts. Plus I also rarely take the car to the dealer and have no issues using junkyard parts (www.carparts.com is your friend).

Sadly, I paid top dollar for a new minivan, and broke every cardinal rule I had lived up to all my life - until now!

Why in the hell do you need to be making $250k to afford a $60k car lol. It’s pretty do-able on even an $85k income assuming you’re frugal with your spending in other places (I.e don’t blow $2k on apartment, low credit card bills, paid off student loans, etc...)

My entire house hold income is only slightly over $200k if you count bonus (I make 110k base, wife makes 90k) and we have 2 luxury cars (one is paid off), a 850k home in the greater Washington DC area (120k down), and plenty of other nice things. We can afford to make all of the monthly payments and still manage put away about 1k+ a month to savings.

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Note:
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@canada @Ontario

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Hi 🐟
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As tomorrow is a holiday.
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