Quote:
Originally Posted by jtown
How is it reasonable to make sub $50k and buy a $70k car?
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Have you heard of the term having no debt? Translation: not paying interest to someone who is already a lot richer than you and getting richer off you by the minute as you continue to sinker deeper into debt. In addition, have you heard about this term: Delayed gratification or actually saving money and not buying something until you can afford it, translation: being in the position to make your purchases with green backs and thus actually owning what you purchase rather than your lender owning it and you paying interest on something they own.
So to answer you question, it is not how much money you make, but what you do with the money you make, translation: purchasing an M3 no matter your financial position is a poor financial move. It means you pay higher taxes including an enjoyable gas guzzler tax that even gas sucking SUV owners do not have to pay and best of all, your investment is guaranteed to lose a small boat load of money every single year you own it.
So Jtown is it reasonable for someone as "rich" as you to purchase an M3?