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

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    (Original post by NX172)
    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.
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    (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!
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    (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.
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    Don't bother wasting it on any of that crap just give it all to be... Sorted.
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    (Original post by NX172)
    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.
    I just sold my current car, out shopping for a new one now. But it's a good idea i suppose, building up slowly.
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    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
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    Fakers gona fake bruh!
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    (Original post by Bill_Gates)
    Net worth 200k+
    sounds legit
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    C63 AMG
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    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?
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    (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.
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    (Original post by NX172)
    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.
    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.
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    Buy a top pedigree racehorse.

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    (Original post by JoeTSR)
    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.
    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.
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    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.
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    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.
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    (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?
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    (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.
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    (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!
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    (Original post by NX172)
    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.
    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).
 
 
 
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