Feeling a little foolish and weird for spending $150k on a car
#1
Burning Brakes
Thread Starter
Feeling a little foolish and weird for spending $150k on a car
Depending on your finances, this topic may mean nothing to you. Conversely, I imagine that if I posted it just about anywhere else, I'd get figurative rocks thrown at me for wasting money.
Yesterday I signed up for a sapphire blue manual GTS 4 cabriolet, which should theoretically get delivered around December. The dealer doesn't actually have the allocation yet, he's waiting on an allocation reimbursement for having sold a GTS 4 cab with European Delivery this month.
The total cost of the new car, less discount but including taxes and fees, is $155k. 4% discount, but 6.25% sales tax. Net cost to me is $80k after trading in my 2014 C4S cab.
I can afford this. Total income for the last 12 months was $210k, spending was $62k except for this silliness on my part.
I do feel like I'm being ridiculous, though, spending this much on a car. I got where I am today by being careful with my money. When I was working, we lived on my wife's salary and saved all of mine. We had a few big-ticket expenses along the way, but not like this.
I am, technically, still Living Within My Means. I can do this because my means are rather more than they were 10 years ago. My spending reflexes are still geared toward a lower income, so it feels vaguely wrong.
Anyone sympathize with this? Please keep any rotten tomatoes unthrown, I'm aware this is First World Problem.
Oh, and I'm without my C4S for 3-4 months , because the dealer offered me $5k more if he could have the car now rather than in December, and I couldn't pass that up.
Yesterday I signed up for a sapphire blue manual GTS 4 cabriolet, which should theoretically get delivered around December. The dealer doesn't actually have the allocation yet, he's waiting on an allocation reimbursement for having sold a GTS 4 cab with European Delivery this month.
The total cost of the new car, less discount but including taxes and fees, is $155k. 4% discount, but 6.25% sales tax. Net cost to me is $80k after trading in my 2014 C4S cab.
I can afford this. Total income for the last 12 months was $210k, spending was $62k except for this silliness on my part.
I do feel like I'm being ridiculous, though, spending this much on a car. I got where I am today by being careful with my money. When I was working, we lived on my wife's salary and saved all of mine. We had a few big-ticket expenses along the way, but not like this.
I am, technically, still Living Within My Means. I can do this because my means are rather more than they were 10 years ago. My spending reflexes are still geared toward a lower income, so it feels vaguely wrong.
Anyone sympathize with this? Please keep any rotten tomatoes unthrown, I'm aware this is First World Problem.
Oh, and I'm without my C4S for 3-4 months , because the dealer offered me $5k more if he could have the car now rather than in December, and I couldn't pass that up.
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#4
Burning Brakes
Thread Starter
EDIT: Also worth noting is that I don't have a mortgage, or any other form of debt.
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#5
Rennlist Member
I mean, good on you and I agree with the "life is short" mantra but are you saying your income was $210K and you spent $155K on a car? I wouldn't have the cajones to pull the trigger if that was my income. Props.
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#6
Nordschleife Master
You only live once and you can't take it with you. I think a bunch of people have buyers remorse for splurging on a car, but the remorse quickly fades when you get behind the wheel. Just enjoy it!
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ehagendorff (10-18-2020)
#7
Well, since you asked, no, if my income was in the $200k range, I would not spend $150k on a car, unless my liquid net worth was in the mid 7 figure range. But that's just me, and financial decisions are inherently personal. Nobody can tell you what is right for you except you. In these situations I just trust my gut. It never lies to me.
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#8
Burning Brakes
Thread Starter
Actual outlay was $80k, since I traded in my existing 4S. I wouldn't feel comfortable spending $155k outright either. It's still a $155k purchase even if half of it is funded by selling an existing car, though.
#9
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Anything more than a used Camry is excessive and wasteful (argument from our CFO many years ago...).
You're far enough past that used Camry line that a 10 or 20 or 40k doesn't change the level of excess.
You're far enough past that used Camry line that a 10 or 20 or 40k doesn't change the level of excess.
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#10
Rennlist Member
You have the money, it makes you happy, as you said in a prior post- no one is waiting for your money- don't worry about it and enjoy it. Are you going to wait until after the stroke when you can't get into the car?
And if you need the money, just sell it for market value and get on with life.
Post your build when you get a chance. Congrats.
Edit- lovely cab you traded. That would bother me more than spending $155k.
And if you need the money, just sell it for market value and get on with life.
Post your build when you get a chance. Congrats.
Edit- lovely cab you traded. That would bother me more than spending $155k.
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#11
Burning Brakes
Thread Starter
We do get threads here on a regular basis from people talking about their C2S / C4S / GTS orders. I'm just wondering if anyone else gets similarly weirded out.
#12
Interesting thread...I think looking at a car purchase as a % of your net worth is a better way to look at it. In the short 12 month period you aren't capturing your savings from prior years. My internal rule is that I feel comfortable spending less than 10% of my net worth on my dream car (for others it may be travel, whatever).
Based on your post it sounds like you've been frugal for quite some time and socked away money specifically for this. Assuming you are a car enthusiast and you seem to really want this car to trade in a 911 coupe for one specifically optioned the way you like. But yes, I can 100% sympathize with you, I have a similar mindset, and do occasionally feel slightly guilty about spending so much on a car especially when I'm not used to large splurges like this (even though I've planned for it for many years).
Another thing to keep in mind as a part of the equation is how long you plan on keeping it.
Based on your post it sounds like you've been frugal for quite some time and socked away money specifically for this. Assuming you are a car enthusiast and you seem to really want this car to trade in a 911 coupe for one specifically optioned the way you like. But yes, I can 100% sympathize with you, I have a similar mindset, and do occasionally feel slightly guilty about spending so much on a car especially when I'm not used to large splurges like this (even though I've planned for it for many years).
Another thing to keep in mind as a part of the equation is how long you plan on keeping it.
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#13
Burning Brakes
Thread Starter
Thanks.
Build is:
GTS 4 cabriolet
N1 Sapphire Blue Metallic
7V Cabriolet Roof in Blue
AZ Leather Interior in Black
433 20" Carrera S Wheels (don't want centerlocks)
457 Lane Change Assist
487 Manual Transmission
470 Rear Axle Steering
581 Luggage Net in passenger footwell
583 Smoking package (for the outlet, not smoking!)
714 Deletion of Alcantara
748 Power folding side mirrors
9VL Bose
P06 14 Way seats
XWH Heated multifunction wheel with carbon fiber
P3E Premium Package Plus
Generally speaking, I was going for functional things, rather than decorative. Decided I shouldn't spring for PDCC since I'm unlikely to push the car hard enough for it to matter.
I agree about trading in my 4S cab. I thought I was going to hang on to it until the new car arrived, which would have eliminated the sting.
Build is:
GTS 4 cabriolet
N1 Sapphire Blue Metallic
7V Cabriolet Roof in Blue
AZ Leather Interior in Black
433 20" Carrera S Wheels (don't want centerlocks)
457 Lane Change Assist
487 Manual Transmission
470 Rear Axle Steering
581 Luggage Net in passenger footwell
583 Smoking package (for the outlet, not smoking!)
714 Deletion of Alcantara
748 Power folding side mirrors
9VL Bose
P06 14 Way seats
XWH Heated multifunction wheel with carbon fiber
P3E Premium Package Plus
Generally speaking, I was going for functional things, rather than decorative. Decided I shouldn't spring for PDCC since I'm unlikely to push the car hard enough for it to matter.
I agree about trading in my 4S cab. I thought I was going to hang on to it until the new car arrived, which would have eliminated the sting.
#14
Firstly,don't give out personal information like that on a public site. It's no ones business but yours. Secondly,IMHO, your gross income is way too low to justify a car that expensive. Talk to your accountant. Keep the one you have unless there is a problem with it. Yes, yolo but as you approach retirement you may regret the purchase. Of course , all bets are off if you are expecting a large inheritance. And no, you don't have to tell us your fathers net income.
#15
What you save and spend depends on what you desire in life. It's a good thing we don't all make the same choices. If you have the money, why not? Now, I do understand your feeling. Regardless of how much I would spend on a car, house or any other big ticket purchase ... I always have that weird feeling: I could and I did, but should I have?
I had an uncle who lived to be 102, had no running water and used an outhouse. He splurged on a large TV, since he liked watching F1. The TV was by no means rare or exceptionally expensive, but it was a lot for him compared to his normal extremely frugal spending pattern. He enjoyed watching his TV every day and gave me great wisdom: (having both) the money and the goods, that's not possible. So choose which goods you want, and how much money you would like in your account. If you're happy with that and you like your car, you made the right decision
I had an uncle who lived to be 102, had no running water and used an outhouse. He splurged on a large TV, since he liked watching F1. The TV was by no means rare or exceptionally expensive, but it was a lot for him compared to his normal extremely frugal spending pattern. He enjoyed watching his TV every day and gave me great wisdom: (having both) the money and the goods, that's not possible. So choose which goods you want, and how much money you would like in your account. If you're happy with that and you like your car, you made the right decision
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