How much do you feel comfortable spending on a car?

[amzbimmer]

I am wondering people's thoughts, when is it "reasonable" or prudent to buy a new M3, versus M5, versus $150k+ car? How about super cars, etc? What is your philosophy?

For me personally, the goal is FIRE-financial independence retire early - ideally retire by 50-55. So even though I have the ability to buy a brand new ride, doesn't mean I should. That is my personal/new philosophy, so likely my next car will be a used F80, rather than springing for a new gen M3 or M5. Yield of retiring early>>buying nice cars.

So, my thought is to put just 3% of my net worth towards a car purchase (assuming cash purchase, no finance needed). I definitely haven't lived by those rules when younger, but I think for my next purchase I would like to.

Curious if there are others that think similarly, although I doubt many people here think like I do. I see some really sweet cars in people's stables and often wonder, what is the thought process that goes into buying a 911 or Ferrari.

[chassis]

Originally Posted by amzbimmer

Curious if there are others that think similarly, although I doubt many people here think like I do. I see some really sweet cars in people's stables and often wonder, what is the thought process that goes into buying a 911 or Ferrari.

You already have your answer, do you agree? You want to FIRE by 50-55, then the guidance for expenses should be clear.

If you could FIRE by age 47-50 by being a "super saver" (poll choice), wouldn't you take that option? What is your age today? This is relevant to answer the question.

My answer is do whatever you want that allows you to achieve your life goals.

[upstatedoc]

I'm slowly piecing this together You're wondering if you can afford a supercar?

[amzbimmer]

Originally Posted by upstatedoc

I'm slowly piecing this together You're wondering if you can afford a supercar?

Haha...yes you got the crux of it. I'm digging deep trying to justify a really financially poor purchase.