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Net worth 200k+ just turned 25, how much to spend on a car?

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Then you can probably afford a better car given the lower living costs. I agree with JoeTSR to some extent. However, things like skydiving, traveling, etc isn't exactly every-day. I use my car everyday and look forward to driving it every day. My passengers have a good time in it, I have a good time in it. Smiles all around.

That's what i'm swaying towards. Done my travelling now, had the experiences. Want something more tangible. I've easily spent 5k+ every year on travel.

Reply 21

Bill_Gates

Original post by Reue

You asked for opinions and what we would personally do, I gave you my response for what I'd do in the same situation.

good answer!

Reply 22

NX172

Original post by Bill_Gates

That's what i'm swaying towards. Done my travelling now, had the experiences. Want something more tangible. I've easily spent 5k+ every year on travel.

What are you driving now? If nothing too fancy, you could work your way up, enjoying a better car each time without breaking the bank. Jumping straight to a 50k car would mean not being able to enjoy everything in between. I have a problem where I can't downgrade my car, so this is what I'm doing to retain the excitement of buying something better each time, for longer.

Reply 23

Little Popcorns

Don't bother wasting it on any of that crap just give it all to be... Sorted.

Reply 24

Bill_Gates

Original post by NX172

I just sold my current car, out shopping for a new one now. But it's a good idea i suppose, building up slowly.

Reply 25

quasa

Entertainment Forum Helper

depends, do you own a house/ flat outright

if so, get a 488 or 650s if you want a 2 seater; 991 turboS or nissan gtr if you want a 4 seater sports car; range rover sport autobiography if you want suv. tesla model s p90D ludicrous for 5-7 seat saloon car

Reply 26

xstonex

Fakers gona fake bruh!

Reply 27

Kieran1996

Original post by Bill_Gates

Net worth 200k+

sounds legit

C63 AMG

Anyway, what's your budget? What are you after? Hatchback? Performance Saloon? 4x4? 2 Seats? Something economical?

Personally I think the V6 Mercs(C350/E350) and BMWs(335,535) offer good economy, the practicality of 4 seats and decent boot space, luxury, and comfort. The performance will be more than enough for everyday driving. If you're not too fussed about fuel costs, then try the Merc C63 or BMW M3.

Edit: I realise the topic is How much to spend on a car. It's basically how much expendable income you're willing to part with... for a car... each month. £500? £700? £1000?

(edited 8 years ago)

Reply 30

DrSocSciences

Original post by Bill_Gates

You came here with a jelly attitude. Why would you post if you weren't jelly and never had anything productive to add

LOL

There are lots of potential reasons, of which, you are only able to imagine one, - which in itself, is based on a false assumption.

I could make a sensible suggestion if you indicate your budget, rather than claimed assets. You may have done already, but I haven't read entire thread as I'm multi-tasking at the mo'.

You'd have to indicate your stance on some of the variables/priorities: mileage pa, performance, practicality, etc.

(edited 8 years ago)

Reply 31

JoeTSR

Original post by NX172

True, but it depends on your own personal income and savings. In OP's case, another £1k wouldn't be a big deal. 50k would. I feel like the extra happiness from another £5k on a car would be pretty minimal.

But @ OP, you still haven't answered my question about income & stability. These are crucial. It's also very important to know where you want to go from here, whether you have a target NW, whether you want to start any businesses in the future, buy a house, etc. If you're happy sticking at (NW - car) for the rest of your life, and have income and stability to support the rest of your lifestyle, then by all means, spend as much as you want that still leaves you within that NW range.

Reply 32

Moonstruck16

Buy a top pedigree racehorse.

Posted from TSR Mobile

Reply 33

NX172

Original post by JoeTSR

You're not going to get much return on "happiness" from a cheap car (<15k). There's unlikely going to be any thrill or excitement sitting in these tacky interior cars with poor performance. For a non car person, obviously money could be better spent on other things. To some, it's merely transport. Which is fine. For others, it's a passion.

Obviously spending 50k is going to dent his bank acc quite hard and I would strongly advise against it. It's more about what % of his monthly earnings does it hit. Currently I'm barely spending 5% of my monthly earnings on a car.

(edited 8 years ago)

Reply 34

tilray

Why do I keep seeing the words 'brah' and 'jelly' on this thread hahahaha. Grow up!

But respect to you for making that much money at a young age...now stop bragging about it on TSR (lol) and go make some more.

Reply 35

tomtjl

Why do you have so much money? D:

Also, if I were in your shoes, I'd buy a Nissan GTR. You can get one used for £35k from a dealership and it's one of my favourite cars. For £35k over 5 years you're looking at £700 a month or so which, depending on your monthly earnings, may or may not be acceptable.

If you're not a fan of the GTR, I'd go for a BMW 1M or M3, as I'm not a massive fan of Mercs. Or, if you wanted something more normal, you could get a new Ford Focus for £15k or so, which are pretty good. It really depends on what you want from the car.

Reply 36

Espada Null

Original post by Bill_Gates

Net worth 200k+ just turned 25, how much to spend on a car?

How much would you spend in that situation?

if your net worth is really 200k, then you already know the answer to this question.

Anyhow, curious what you have done to amass such wealth?

Reply 37

Espada Null

Original post by Little Popcorns

Don't bother wasting it on any of that crap just give it all to be... Sorted.

Another woman willing to spread her legs for money.....for shame.

Reply 38

Manitude

Original post by NX172

Similar situation. I'm 24, net worth around 277k. Which personally, living in London, don't think is all that much at all. Certainly not enough to spend on a fancy car that depreciates quickly. Rather save it to buy a decent flat in Z3/Z2 instead.

It depends on your monthly income and regarding the affordability of a car... Sure, you can pay all of it upfront, but I'd rather just hire it in some form for better leverage. Anyhow, last year I spent £19,200 on a Merc. Looking to upgrade to another Merc that's around £29,000 which works out to be around £600/m on repayment. I'm earning over £7.5k a month, so could easily afford a £1k/mo car on hire, which is the equivalent of a new £60k+ car but it's upto you how much you want to dip into your monthly earnings (Personally I'm very tempted by Merc CL63). For me, other things such as property take precedence. Yes, I've treated myself from all this hardwork. But nowhere near as much as you'd think.

I was about the question how on Earth you're earning that much so young and then I saw your signature and it all made sense. XD You're on about six times what I am as a PhD student, but I don't think I'd want to swap!

Reply 39

JoeTSR

Original post by NX172

I love mine, but it's a neverending cycle. Buy the 15k car, and now you're aspiring to the 30k one. If you want more power, then unless you're doing street races, there's a simple solution - downshift. My car's a 2.5k focus (same specs as the sport, the sport just has a different interior/noisy engine/tinted windows/spoiler) and I've managed (good) screams from passengers before. In the UK, you're not gonna really get any advantages from the performance

But yeah, if he really wants the bells and whistles of a pricier car, by all means, he should go for it, but he also should consider what his future plans and income stability are (10k a month means jack **** if it could disappear next week).