Originally Posted by DiscoZ
... and the ones who went to college will generally make more in the long term.
Jive is spot on. Even first year analysts where I work who make well over six figures in their first year out of undergrad do not purchase M3's because they are fiscally conservative. A car should never be more than a 1/3rd of your annual comp, better yet, less than a 1/4 or a 1/6.
So are you saying that anyone who chooses to by a 70k car SHOULD be making at least 210k a year? That doesnt sound right to me at all.
I am buying my home, have other paid off vehicles, have all the 401k investment crap, virtually no revolving debt, and I afford my car very well even though I am ONLY making ~95k-100k a year. I also afforded my 335i quite well back when I was only making 60k a year. I think it just depends on what you choose to spend your money on. I have people ask me all the time how I do it and I tell then that I dont smoke, and I dont even really drink much either. Not doing those two things can save you allot of money in the long run.