At what networth is okay to splurge on a 200k car ? (Tesla roadster)

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Dennisl
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Re: At what networth is okay to splurge on a 200k car ? (Tesla roadster)

Post by Dennisl »

cowdogman wrote: Sat Sep 26, 2020 6:38 pm I have one word for you: Miata. From a distance it looks similar to the Tesla.
But he is the one who will be close. That’s like marrying a monet...
BruDude
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Re: At what networth is okay to splurge on a 200k car ? (Tesla roadster)

Post by BruDude »

Wanderingwheelz wrote: Sat Sep 26, 2020 6:23 pm As food for thought we bought a new $110,770 Porsche 911 In 2013 with cash ($88,250 purchase price which was a sick discount) and our joint incomes were in the neighborhood of yours. We sold it 18 months later for $88,000, so it basically cost us the sales tax and one exorbitant $500 oil change service. We were in our 40s and had a net worth of about $2MM.

I owned 2 other Porsche’s, one I didn’t do as well on- costing my @ $7,000 to own and the 3rd Porsche was break even, but less money since I bought it used.
That’s awesome. So you got to own 3 Porsche’s for a few thousand bucks. I had a 2013 BMW X3 that I bought for $21k. I sold it a year later for $16k and paid $3-4k in repairs in that one year. So a single year of common SUV ownership cost much more than owning a significantly more expensive car (911) several times. It’s not about the price of the car, it’s about the resale when you’re done with it.
johnny
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Re: At what networth is okay to splurge on a 200k car ? (Tesla roadster)

Post by johnny »

The title of this post reminded me of this story recounted in a NY Times article below. When one of his employees drives up in a new 90k car, Mitt Romney tells him that he wishes he could afford something like that. At the time Romney had an estimated net worth of $200M.

https://www.nytimes.com/2011/12/11/us/p ... abits.html
MikeG62
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Re: At what networth is okay to splurge on a 200k car ? (Tesla roadster)

Post by MikeG62 »

Dennisl wrote: Sat Sep 26, 2020 7:13 pm By the time you can afford it, you probably won’t want it anymore.
^Sadly, this is likely to true.
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FIREchief
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Re: At what networth is okay to splurge on a 200k car ? (Tesla roadster)

Post by FIREchief »

Some of these responses are really cracking me up. I can buy some over-priced toy, play with it until the novelty wears off, and then sell it at a profit?? Yeah, that sounds like a "safe bet." What could go wrong? :P
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sadie wess
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Re: At what networth is okay to splurge on a 200k car ? (Tesla roadster)

Post by sadie wess »

sjt wrote: Fri Sep 25, 2020 1:48 pm When there aren't kids going hungry in your country
+1 and a kiss.
Wricha
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Re: At what networth is okay to splurge on a 200k car ? (Tesla roadster)

Post by Wricha »

bogledogle wrote: Sat Sep 26, 2020 1:16 pm
Wricha wrote: Sat Sep 26, 2020 8:21 am If this ad rings true to you (the truly afflicted) then you don’t need bogleheads to make that call :D

https://www.youtube.com/watch?v=7sWPHKU1XZU
Also, this.

https://youtu.be/VMxAW1nm2D0

Perfectly irrational.
Exactly, funny I have had 911’s for I long time. Never have I thought about what I looked like or what people said. It’s about the car.
BruDude
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Re: At what networth is okay to splurge on a 200k car ? (Tesla roadster)

Post by BruDude »

FIREchief wrote: Sat Sep 26, 2020 7:56 pm Some of these responses are really cracking me up. I can buy some over-priced toy, play with it until the novelty wears off, and then sell it at a profit?? Yeah, that sounds like a "safe bet." What could go wrong? :P
You sure can. Is it overpriced if you can drive it and make a profit when you sell? The used Porsche market has some very interesting dynamics. You really need to do a lot of research to understand them and what’s a great deal, what’s most desirable, the common issues, and what models and options will have the strongest resale.
lws
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Re: At what networth is okay to splurge on a 200k car ? (Tesla roadster)

Post by lws »

$10,000,000
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Re: At what networth is okay to splurge on a 200k car ? (Tesla roadster)

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