Let's face it. We are on a car forum and for most of us, cars are our biggest hobby (otherwise we would be discussing this thread on the speed boat forum). That being said, do what makes you happy (use a bigger budget for cars) without overextending yourself (I voted 300K+). With a 160K car, you also have to account for insurance, maintenance, gas, etc. and your current house note/ other expenses. There are smart ways you lease the car (business/ advertising expense...pre-tax), but personally I would buy it only if I had the money. Ghost, I got convinced into 2 months income for the engagement ring.

 

The kids around me that were brought up surrounded by the "finest things in life", as you say, were also the ones brought up to make sure they get them.

 

I'm not sure in which way you meant that, but that's another topic that can swing both ways. I mean I grew up by all means with a good life, but the difference is they taught me good morals and habits, and that mommy and daddy would not provide these things later in life. I didn't have a rough or poor upbringing, but I still know the value of a dollar and know I need to bust my *** to get where and what I want! I thank my parents very much! I'm sure people can relate, I mean my father is a doctor and one of the most humble guys, drives a mercury mountaineer haha

 

What I meant is in response to what you said:
the kids around me who grew up with the best stuff (including myself) are the least prone to live beyond their means.

 

Ahh yea, I'm on my phone so its hard to read , my fault. Like I said there are always exceptions

 

I agree with what youre saying martin. i grew up very well off, BUT at the same time, my parents were able to teach me(and my 2 sisters) good morals and being a descent person. i ALWAYS got what I wanted and STILL do for the most part since I am in my last year of college(i graduated undergrad and am now in an grad school(MBA program)). i feel that i did learn a good sense of the dollar and really learned that this past summer interning for one fo the BIG 4 accounting firms in the nation. i mean my dad ALWAYS buys cars in FULL and has taught me things such as this, and having good credit, making smart investments, etc.

 

Good stuff, man, we all have ALOT in common, that's extremely cool..

 

Honestly, $300K does not necessarily buy a $160K car. If you are single and living in a condo then maybe, but look at it this way:
$25K/mo
-$12K taxes
-$8K house (Assume $1.2m House)
-$2K household
-$3K savings
That level of income can get spent very easily if you are living in a decent house, or a mid level track home in So Cal.

And if you are thinking that you can write off a lot more in taxes, you would be wrong unless you are self employed. The AMT will kill you and the only things you can write off are House and Charitable Donations.

 

to own a 160k car (lambo, etc) id have to be making around 250k a year for about 5 years or so...then id buck up for it i think. But only after i had all my other "ducks in line."

As for the comments about growing up/parents/having money, i think you guys hit it on the head with it all depends on the person. I mean, i grew up with money from my parents business - but before i was born, and my older sisters were growing up, the business wasnt doing well yet and things were TIGHT so my family def isnt "old money" or "snooty" at all. I think that has helped me in my own life learn that things come to those who work hard. With that said, i feel like i have a great appreciation for a dollar, working hard, and seeing how people from all walks of life live.

Some of my buddies tho, grew up with money - parents always had money and these kids never worked, always blew through cash, and now seem to be hurting because of this.

Id also argue that having some sort of faith (not gonna start a religous thread) helps to keep things in perspective in our material minds (lots of car guys are material minded - nice cars, clothes, watches, homes, etc)

 

Glad to see you on here buddy, welcome aboard, and your mindframe is dead on with mine!

 

I agree with what you said as well. Love the kenstyle body kit on ur g35! looks great!

 

Hey Man! Im enjoying 6speed for sure...love the variety of cars and the knowledge you can gain by reading through some of these threads (about many things)

Yea, i guess (like you said) a lot of us have a lot in common...not just an obsession for fine cars.

 

Thanks man! I love my G35 (its 6speed! haha) but am actually looking for something else right now - kinda what lead me to 6Speed in the first place.

 

Buy mine

 

Im sure you wont have any problem getting rid of that beauty! where you from and what are you looking to buy?