Well, I hang around a pretty fortunate and accomplished crowd of Ph.D.s, MBAs, etc. etc. -- Stanford grads (my and my wife's alma mater), UC-Berkeley, Harvard, etc. -- and none of us feel as though we "deserve" private planes, giant yachts, caviar on tap, and vintage Cristal at the snap of our fingers. The lower two quintiles, I can't even imagine hanging on by fingernails. As for extended benefits, well, that's essentially a tax on salaries. And as for "ever increasing government support," have you not read about the cuts in food stamp aid specifically and austerity policies in general???

 

Get the right girl and she will help you because your dreams are also her dreams. She will always be worth more than any car. The same with your kids. Your values and perspective certainly change, but that does not necessarily rule out a place for the right 997.

With that said, I voted my life with the others. Our plan was simple. We paid off our first new car (Toyota Corolla), then kept driving it and kept making the same size payments to ourselves. With proper auto maintenance combined with compound interest (once upon a time) meant we could pay cash for our next car when the previous one completely wore out. Again, we kept making payments to ourselves and adopted a rule of never buying a car unless we could pay cash.

At one time, the difference between PAYING higher interest rates for a car loan and EARNING money on the resulting investments approached a 20 point delta -- or a lot of money over just a few years. The result: we ended up paying cash for our (used) 997 without sabotaging our permanent savings, investments, retirement, etc. Along the way, we put ourselves through school (which upped our incomes) and both our children (which helped their futures).

Our 997 truly gives me a lot of satisfaction and enjoyment, no less so my family's happiness and security. And I would have bought it at least 10 years sooner except for the business my wife and I founded, which has its own rewards, financially and otherwise.

 

I bought my 997 at 25 (3 years ago), and people judged me pretty harshly. It is annoying, but I got over it.

 

It's not an age but a wealth issue. There is a 25 year old guy who lives in my development who owns a 2014 997 Turbo S. It was a graduation gift from his parents. So this guy not only graduates from Med school with no debt, but he also owns a $200K car.

The only caution that I would offer to the OP is to keep in mind that although he may only have paid $40 K for the car, but it will have maintenance expenses of a $90K car, i.e., it won't be cheap to maintain.

 

If I saw a 25 yo w a 997 P-car and didn't know anything about their situation, I'd be concerned he was living beyond his means. Why? Because he's an candidate for someone later in life with his hand out. This may not apply to pv355 and isn't a condenmation of his choices but you have to understand the views of others, particularly those that went the deferred gratification route.

 

Well Hankcah, 7 pages & one rage-o-holic later, what do YOU think of all this press?

Will you buy a 997, or will you stick with the 335i ?

Don't leave us hangin!

 

You have to think why a car that was worth $100k is now worth only $30k. Why is it depreciating? It's partially down to everything wearing out. It costs more to maintain the older it gets due to more parts wearing out. You may be able to purchase it but not maintain it. Parts cost the same regardless of the age of the car. Labour typically gets more expensive with age as the parts become harder to remove due to seizing and rust.

 

It's not really age, but how one talk, behave and drive that affects how people look at us young drivers, especially ones with "nicer" cars. Being humble and good road manner (not driving like a jerk) can quickly eliminate more than half of that. Cut in front of people, accelerate like crazy for no reason, give others the "look" when passing by are all some of the common trends associated with young drivers and therefore make us look like fools. Smile and be polite, and you will get respect from most no matter how old you are or what you drive.

I'm surprised this thread is still going strong. How about OP just buy the car and we call it done. Welcoming new owner in advance!

 

I'm new here, and have enjoyed the responses to this question.

I have these trite thoughts:

1. The fun thing and the smart thing are different. Money in your investment account is fun though, especially when the market's up.

2. You have a family coming and I can tell you from experience that no matter what you make or save, it won't ever seem like enough.

3. Nobody and I mean nobody could have changed my mind at your age.

Enjoy the car

 

to dasams: understandable.
to OP: Strangers will think what they think. I'd be more concerned about what my friends and family think. I've had my car used against me in arguments. e.g. my friends want me to go skiing with them this year, i tell them this trip isnt worth the money to me, they start giving me **** about my car... The teasing I get from friends and family is more annoying than the looks from strangers.

 

I can fully relate to this . A few weeks ago I told some tennis buddies I think the cost for tennis stringing is too high ($15-$18 just for labor), so I normally play with full poly and have decided to do my own string jobs. Then they gave me crap about what I drive, and question why I would "cheap out" on this since I play so much. Well, $400 per month is what some of my friends spend on racket stringing alone, and to me it's not worth it and there goes a monthly payment for a nice car.

 

I wanted to add some more perspective to this discussion, as I'm in a similar situation to the OP. Similiar age, similar income, no debt. I currently contribute 10% into my 401k and am fortunate enough to work for a phenomenal company that contributes another 9% on top of that (5% match, 4% instead of a pension). My wife and I own our house. She too is debt free except for a small monthly payment on her 2007 Volvo S40.

We don't have kids, and can't so it's not an expense we have to concern ourselves with. My wife just had a bilateral lung transplant 6 months ago at the age of 34. No, she didn't smoke (you wouldn't believe how often people ask that), she had pulmonary fibrous and honestly the doc's couldn't say for certain why. Regardless, the past 3+ years of our lives have been hellish. One of the things I've decided as part of that experience, is that I will not live my life for tomorrow, I will grab as much life as I can while I can. Just a different perspective I thought I'd share with you guys.

I think I will pad my emergency fund a little more before I buy my car though...hahahah



This is me as well. Learned it from my pops I guess. I drive a 2001 Accord with 125k miles on it. It's paid for and dirt cheap to run.

 

sorry zirrah you guys are 24/29 and own your house free and clear?? wow!

 

Trailer rent or THESE?: http://www.ebay.com/itm/MAcarbon-Por...fabb3f&vxp=mtr

 

Funny, I have those exact same door stops on MY trailer!!!