It is normal to spend 50k-100k to buy a car?

Hi all,

I am honestly surprised every time I see a post of people buying a car that expensive. However today the post mentioned buying a 70k car as a gift, so my questions are:

1) Do people really has that much cash running around?
2) Do they go into debt to pay for it?
3) How much do you need to earn to have that level of flexibility?

Today someone mention they are giving away a car like this for a family member, I presume they have the cash, so are they considered rich?

Sorry, maybe I can't just picture that much cash

Comments

  • i believe people should spend at most, 3 months post tax income to buy a car, outright. If you need to finance, but something cheaper that you can pay outright.

    • why?

      • Why? That's like saying you should spend 3 months post tax income on an engagement ring? Why should I do that? That's just a marketing ploy by Tiffany to get people to spend more.

  • +2

    The attitude towards cars on this site really boggles my mind. I understand that it's a bargain site but the chasm between the car people and anti car people could not be wider.

    The sense of personal achievement for someone when they set a goal and achieve it is priceless. For some people that's buying a car. For others it might be travelling around the world. Some people spend thousands on clothes or sneakers. It's their money and they shouldn't have to justify how they spend it.

    Is it normal to spend $1mil on a house
    Is it normal to spend $250 on sneakers
    Is it normal to spend $80 on a T Shirt
    Is it normal to spend $100 on a steak

    I could go on, and none of those threads would generate the negative response that we see as soon as someone asks about buying a car.

    If you have really have to think about whether every dollar you spend on something is going towards a depreciating asset, then you truly have my condolences.

    • I don't think many people who live in a $1m house drive a $100k car.

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