Quote:
Originally Posted by Skiptomylou37
I am a young guy, mid 20's, who works in medical sales. No wife, no kids, no serious relationship, I make good money, have a retirement plan + full benefits through work and also have a side job coaching hockey privately that I make about 1k from a month. I have a company car and currently have an Evo X MR for a fun/weekend car and am thinking of stepping it up a bit. I had an e90 M3 before the Evo and am considering getting another M3 but for only a little bit more a month I could get a new or almost new M3, get a couple year old M3 and supercharge it, 911 turbo, GTR, etc. I guess my question is is it stupid of me financially to consider having a $600-$700/month car payment instead of my $400/month payment now to drive something newer that has more flare? Two things before you answer. This car payment money is all disposable income. Like I said before, I have a retirement plan, 401k, mutual funds, the works, plus money I put away every month to eventually buy a house. Also, my dad passed way unexpectedly at 50 and always wanted a Porsche 911 but never got one and because of that, I don't want to say I am a "I want it now" person, but I definitely think you really have to go after what you want in life and get it. That all being said, I would appreciate some wise advice.
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i was ok with everything until i came to the part about you renting. drive a car that is "just ok" to save more money and buy a place before you buy an expensive car (payment, maintenance, gas, insurance- all four categories are going to go up). and then you're going to want to mod it.
don't spend a dime on another car until you get a house. its the strongest financial base you can create for yourself. just my opinion, since you asked.