Wise to spend $1500/month on a car given my situation?

Imagine asking strangers on the internet for advice on how to live your life.

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To be frankly honest, they don’t teach this stuff in school. Half of the class I graduated with doesn’t know what a credit score is, utilization, passive/active income, etc.
:chocolate_bar:

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I was thinking, “Man that’s a huge budget for a lease” But then I realized that’s about what I spend on my kids’ swim and gymnastics lessons, and that doesn’t even include the competition and coaching fees for travel meets. I figure after I pay the kids through college, when I’m old AF, I’ll get a 911 or something like all the other old guys out there.

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That says 2500 total miles. That has got to be a typo right?

I assume that it’s actually 2.5k per year (which is a term i have seen on exotics before), but who knows

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2.5k terms for exotic cars are one of the many mileage option you can get. I believe it is the lowest option for Aston Martin / McLaren FS leases (chase), but I haven’t had one come across my desk since like December.

Checking the fine print, you still got to pay tax

image
:chocolate_bar:

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You know, the $1.50 per mile add on isn’t bad when the base lease is about $30 per mile.

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wish i listened to your advice when i was 28. you are right. life is about enjoying experiences, not material things. everyone here should upvote this post.

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Like it’s too late for you :grin:

That’s a really good point and one for each of the parents on this forum to take to heart as they teach their own children. I used to volunteer to teach financial topics to underserved children through an organization called Junior Achievement. It’s still baffles me that zero practical personal financial literacy is taught to young adults.

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Lease an m340i or m550 and throw the rest in a deflationary asset or a crypto that yields interest if you really want a “good” luxury daily driver if you really need to scratch that itch; buy the GT rs3 Porsche or Aston Martin in 10 years when you can’t travel like many have said. The $1500 car isn’t going anywhere and after a few months you’re going to sit there scratching your head after that 4th $1500 payment and you’re wondering why you ever decided to put 1/5th your monthly take home into a lease.

Take $1500 to Cartagena and watch you be a king :upside_down_face:. $200k is pretty cool but you know what would be a lot cooler? Building it up to a million while traveling the world :sunglasses:

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To the OP, what type of car do you even want though? SUV, sedan, sports coupe, convertible, off-roader? I would put some thought around this as well.

So 51 responses on this thread and a grand total of 3 from the OP. Why create a thread if you’re not going to engage? Beats me…

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Dude, dude’s got 3 jobs…get a job, dude!

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What’s more important is how much you make. Your savings, 401K, etc don’t really matter a since you shouldn’t plan on digging into them anyway to pay for your car.

I know people who make 500K per year and have over a million dollars in cash/assets in addition to owning home(s) that wouldn’t spend $1500/mo on a car.

I also know people who live month to month, spend every penny they make and are very happy.

If a car costing $1500/mo will make you happy and you think you can afford it, then go for it. Life’s all about experiences.

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I really like the LC500

It’s amazing to think someone could be debt free. With free housing. Earning a good enough living to bank 200k, and yet can’t decide if a $1500/mo payment is doable. Must be a hell of a silver spoon.

Mazda Miata or Toyota Supra. Both your parents and future girlfriends would approve.

I have a few friends who were gifted houses by parents and it was due to both of them passing away. Op is also a Pharmacist which many people dropout of due to how hard the program is. I wouldn’t make assumptions of anyone.

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Yes. A pharm degree is one of the highest paid four year degree and it’s definitely hard

OP go get your LC it’s probably a good daily so you don’t need a second car. Good luck!

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