Quote:
Originally Posted by natedog7700
I know its a terrible financial decision and it makes no sense
|
/thread
If you are already thinking its a bad decision then at some point it will be. Whether it is or isn't is all in your head.
IMO, the biggest aspect on whether its a good decision or not is your financial security now and your goals for the future.
Do you have an easily accessible emergency fund? - 6 months of expenses
Do you have a rainy day fund? - additional 6 months of expenses in something available within a few days (CD, high interest savings, etc)
Is your job secure?
Are you maxing out your retirement?
If your goal is to be financially free one day, are you investing?
I was in a similar situation about five years ago but I was making more and bought a car 2/3rd the price (high mileage E90 M3). I ended up selling it and adding the funds to our house down payment. I think if you have at a minimum the top 4 items, don't get under on loan and willing to part with it when the time comes. Then go for it. But maybe lower your expectations a little; I've seen a few F80s going for less than $40k.