Yeah I mean take a year to plop a bit into a toy fund while you wait for your allocation to chop it in half and suddenly you have a 1300-1400/month car. The monthly obligation isn't too much more than a lease on an M3 CSL or something. Wouldn't be surprised if people do that. Obviously that 70-100k would work harder for you in the market and logically if you can just take on the entire thing as debt, someone making decisions exlusively with regard to long term financial results would go that route. But I would mention that what's logical or practical is relative. I'm sure there are a lot of very wealthy people who aren't interested in cars and view their wealthy car loving peers' choice to waste money on a Porsche at all as illogical and wasteful. Just depends on your lens.

 

 

Everyone has different comfort levels. Im guessing you and I are similar in how we approach toys. For me personally, if I cant write a check for depreciating asset/toy, I dont buy it. Now when it comes time to make the purchase, I might choose to finance if the rate is low or I have better uses for the cash but at least I know if I needed to, I can pay for the car in cash. Now others will choose to finance and make monthly payments- thats fine. Im not judging. Im just saying what I am personally comfortable doing with my own situation.

With regards to Ferrari owners- I would 100% agree that majority make less than 500k. And that is fine if you can make whatever the car payment is fit within your budget/comfort zone- go for it. YOLO is correct. Enjoy life while you can. Where people get into trouble is financing beyond their means.

I have a friend- who does "well" financially- dont know how well as I dont know his exact personal situation- but Im guessing his car payments must be 25-30k a month. No joke. He is comfortable with that. Not a chance in hell that would work for me. I dont know what he has in the bank saved up, or what % of his monthly is the car payments but lets just say a couple of hypercard and a couple of super cars - all financed. For all I know he might have 30 million in a matterss somewhere but my thinking is that is not even close to reality.

Everyone has different comfort levels and everyone has different priorities. Mine are to save for my family and future and enjoy with left over money my hobbies. And as I mentioned - if I cant write a check for the toy- (car, watches, whatever) its not something I can personally afford.

 

Nah... Wealthy people that buy these cars are spending play money. They can afford to throw down the same 100k on a car or spend it on a weekend getaway. It’s not viewed any different by their peers. However if they were taking a substantial % of their savings on the same type of purchase, you would get some funny looks for sure.

 

Gents can we please get the discussion back to GT3 allocations and how to get them ADM or not, preferably not? The want is higher than never before and I don't want to settle for a GTS, although now one can delete the rear seats. Thank you.

 

Are we pretending there aren't some frugal maniacs in those circles as well who don't care for toys and their "toy" is amplifying their net worth or growing their business? Some people don't care about cars and view them merely as appliances akin to an espresso machine or a toaster oven.

 

tell me your rich without telling me your rich ^

 

He is rich. So what? What is there to be embarrassed about? Dude probably worked hard for his money and has nothing to apologize for.

Rennlist seems to have the most class/wealthy envy than any board Ive been on.

 

nothing at all. I just find the notion that ones income has to be x to be shortsighted. there are numerous variables at play when determining whether one can afford a 200k car.

 

Lol... I'm not saying 200k is not a nice chunk of money. I'm just saying it's quite low if your annual income is 300k. Keep in mind that 200k is not cash on hand. That is your investments, real estate, cash, etc. It just shows how most "upper middle class" earners are totally slammed with debt and insane expenses. Of course, this is not everyone but we are talking about averages.

If you read the rest of the conversation, you would see that I have stated it at least 4-5 times now that we are talking about the "average" person who earns 300k a year based on the median statistics. We are not talking about someone that has a 7M portfolio living off the 300k they pull from their yearly returns. That type of situation is clearly not the norm and it has already been acknowledged a number of times.

 

which is what many have been saying. I didnt see that he wrote that your income has to be X- just that what was suggested may not necessarily be enough and I agree with that. Like you said- numerous variables at play.

 

This thread

 

As opposed to every other thread on rennlist??

 

This conversation is way more interesting than ADM which is this silly thing which applies to Honda civics even, and has been beaten to death.

 

Hmm very true.