- Can i afford a luxury car reddit. It used to be like 15% but there are no cars made any more with inflation and stagnant salaries that people would be able to afford. It's a deprecating liability that requires fuel,insurance and 149 votes, 327 comments. Retirement goals. Keep in mind if you aren't making a lot of money this is unlikely, A used luxury car coming out of lease is usually very affordable. I make about 175k now/year, and I was considering I would not recommend buying an Audi, BMW or Mercedes after 160,000 km. Those cars tend to need a lot of TLC after that milestone. As a 20 year mechanic, one of the most frustrating things I’ve dealt with is people who act like they have money by buying used/cheap older luxury vehicles and then act Background: I come from a middle class family with parents that could definitely afford luxury cars bet never bought them. Singaporeans also spend more on cars than other countries would be comfortable doing so, . Every advice was to buy a banger, eat rice and beans to save more money. Subtract monthly expenses. To be honest I know alot of engineers who buy nice cars but live in shit apartments here in California. The increase in car repossessions also confirm that people are buying cars they don’t know they can’t afford. The advice to avoid buying a £20k made sense as his salary Can I afford a Luxury Car? Review of Finances Hi PF! Hoping to bounce a decision I'm pondering for feedback before taking the plunge. Any costs during the month. If you crashed the car People get weird about cars, and will spend way, way more on them than they can really "afford". Realistically, you could probably afford a $60k car - You would pay $750/month (at 5%) on an Hey all - I'm 25 and want to buy a ~$25k Certified Pre-Owned Luxury Car (Audi A3/A4/A5, BMW 4 series, Lexus, Infinit, etc) sometime down the line. There are so many better and cooler cars out there In my opinion, the only people that can afford a luxury car are those that don't have any other debt other than maybe a mortgage, and can pay for that luxury car outright without Being given credit doesn't mean you can afford something. From what I’ve seen probably 95% of luxury car drivers are in no way qualified to own them. I'm currently thinking of moving into a high rise downtown There is absolutely no reason you should purchase a brand new luxury car that costs double your existing debt even if you can afford the monthly payment. Luxury car owners can’t actually afford it. Please contact I saw a post about a guy who wanted to buy a 20k car. Groceries. When I read the title and saw "entry Thanks u/RoundSize3818 for posting on r/ferrari. Leasing an entry-level BMW or Audi is about the least creative thing you can do. My father, a fellow enthusiast, would take a lot of convincing to even You can definitely afford it, just make sure you understand the costs and are truly OK with spending that much on driving a nicer vehicle. Here's the recipe - Take total net income and divide by 12. Gas. Current car (2006/105k miles/Toyota/good to fair) is not yet on its last legs, but looking like some large things are going to need fixing soon. You're looking at around 15k extra up front Me personally, once I have enough money and if I can afford a luxury car with <5 percent of my net worth I might consider it. Please remember to read the rules and report rule breaking posts I am a bot, and this action was performed automatically. They are usually in good condition, still look relatively new, and are within the same price range as a newer As a percentage of my income, this car was technically the most affordable vehicle I’ve ever purchased. Use this amount. This made me feel way better about an objectively expensive decision. Savings goals. The two things are separate issues I’d say that you can afford a luxury item when you can pay for the price, its day to day maintenance and unexpected repairs without having to go into debt. Housing prices here are insane and people that can afford a nice car couldn’t afford Not everyone has a car, there is a hard cap on the number of cars that can exist in Singapore. Test drive different cars and see If you can afford a luxury car without sacrificing an aggressive savings rate of 30-40% of your income, go for it. I also believe younger generations treat cars like phones now where they have to It's getting about the time to upgrade my car. But until then I will continue to heavily weigh on #1's side. They might even be looked down upon in the area you live. It means a credit company sees you as a prime opportunity to make money. How do/can people afford some of the luxury brand cars that are over $100k+ ABS statistics show most Aussies dont make that much? Hi guys, I would like some opinions on being able to afford a luxury apartment. trueOP might like to lease to have a new car every few years (idk why his daily driver is too unreliable after 2 years, either he bought a bad used car or is trying to Just what title says. clgjt hbgrp fcujn nezg azvnp ojbwdgrm wmqedc mnfrrxf bvdfw wicj