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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 leinad2012)
    Would have preferred: "my parents gave me a small loan of $1 million. I now have 200k net worth an still need to pay the money back in full. What car should I buy?"
    I think your post lost credibility by posting this uncorroborated, childish remark..
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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.
    (Original post by Bill_Gates)
    cheers for the advice. Yeah my parents drive modest cars in that group.But i've worked really hard past few years thought i'd treat myself.


    What is your job wow how much are you earning? youre rich bro
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    (Original post by NX172)
    I think your post lost credibility by posting this uncorroborated, childish remark..
    That was meant at as a joke at the poster above. This is BILL GATES, not the SON of Bill Gates, of course he is self made...
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    Get a Ford Cardinal MK10

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    I have a net worth of £50 quid, what second-hand pushbike should I buy?
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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.
    I'm not sure 15k GBP means a "tacky inferior car". New, yes, but how much thrill or excitement is lost after three or four years and 30k miles on the clock? Unless you are interested in something you can only get the most out of at a track day, that is really what you are paying for above 15k.
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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?
    Only £200k? Wikipedia says you're worth £50 Billion.
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    (Original post by tutorscience)
    What is your job wow how much are you earning? youre rich bro
    cheers brah

    entrepreneur/investor.
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    (Original post by Observatory)
    Unless you are interested in something you can only get the most out of at a track day, that is really what you are paying for above 15k.
    You can't generalise cars above 15k as only worth their money if taken on a track. Not going to dignify this statement with a digression.
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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.
    What's your job?


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    (Original post by Stk1010)
    What's your job?
    My job is in my signature. Let's minimize digressions.
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    You've gotten some really unhelpful comments so far. For the record I think its perfectly okay to splash out occasionally on nice stuff to treat yourself.

    In your position I'd probably spend around 30k, but depending on your income and job security it might be worth looking into some leases.
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    (Original post by dean01234)
    You've gotten some really unhelpful comments so far. For the record I think its perfectly okay to splash out occasionally on nice stuff to treat yourself.

    In your position I'd probably spend around 30k, but depending on your income and job security it might be worth looking into some leases.
    cheers, best answer so far.
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    (Original post by leinad2012)
    Seems a very silly group of people to ask, considering no one will have the expertise required (and if they do they sure as hell won't be on tsr at 2 in the afternoon on a Wednesday).
    Financial security + independence = total freedom.

    OP, do you want to drive something distinctive? (Like an import, or vintage?)
    Or would you prefer 'the latest' model?

    Or is it more important to you to drive a car icon, whether it's new or old?
    And how important is customisation of the spec?
    Are you willing to go with someone else's spec, if it means you get a 1yr old car straight away? Or do you want to spec it yourself, and wait 3-6months?

    Trying to scope out your parameters.

    Personally, I've had Mark I versions of cars, and there's always a design flaw that doesn't get ironed out until Mark III or IV, so I wouldn't go for a high end new model.
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    (Original post by Espada Null)
    Another woman willing to spread her legs for money.....for shame.
    Who's spreading their legs? I'm not I meant free of charge donation to me. You sket.
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    (Original post by Bill_Gates)
    lol sorry no. I started in business aged 17 parents only ever once gave me a loan for £200 which they wanted back within 3 months lol. You know when you sell part of your business you can receive a lump sum.......................

    I suppose it's more like a lesson you'd like but i need to stay on topic (i have major warnings).

    Cars please!
    My apologies, but when the same question is avoided probably 5+ times in a row, and post history shows you suddenly came into a large amount of money right after finishing uni, combined with many threads about trust funds, IHT etc, it's not an unreasonable assumption.

    I'm not sure what you want here? You've started multiple threads on the exact same topic. You ignore anyone who suggests spending less than £15k on a car, or who wants to know some information about your finances to make a judgement on the question you asked.

    I think you know exactly what price range you're considering. Just say the price range and turn this into a "What car should I buy for £x" thread.
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    (Original post by Little Popcorns)
    Who's spreading their legs? I'm not I meant free of charge donation to me. You sket.
    come on guys, play nice!
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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?
    30-50% so you have some money for insurance and fuel as a car in that budget will be a thirsty machine something like this should do perfectly as it taken the worst of it deprecation already
    http://www.ebay.co.uk/itm/3318060320...%3AMEBIDX%3AIT
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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?
    Back on topic. Considering streams of income and payment method, I would prefer to get a Mercedes A45 AMG. Practical, 4 seater and plenty of thrill for your buck. Second hand as I don't see the need for a new car considering the rate of depreciation. Second hand could go for around £30k.

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    (Original post by jamesthehustler)
    30-50% so you have some money for insurance and fuel as a car in that budget will be a thirsty machine something like this should do perfectly as it taken the worst of it deprecation already
    http://www.ebay.co.uk/itm/3318060320...%3AMEBIDX%3AIT
    looks mental!
 
 
 
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