Consider every aspect. Is there anything else you want to buy? Maybe a single person camper for fishing trips? Or anything else? But if you have your heart set on a car, and you can afford it, why not?
I would figure out the cost of maintenance of the car for after you buy it. Can you afford the gas? Can you afford the insurance? Maintenance?
Yeah @Joker, I agree with @shutterbug. I know from experience how financial status can change very quickly. You can be doing great with money but all it takes is needing dental work done or getting some physical illness that your insurance doesnât cover and your money stash is gone.
It would be cool to have a Beamer but man, if you are doing good with money and are itching to treat yourself to something, canât you find something cheaper? I mean if youâre not rich, just buy a cheaper make of car because itâs nice to have a nice car but maybe you can buy a cheaper car that just gets you from point A to Point B. I mean there are cheaper cars that are cool too.
Or if you just want something thatâs cool how about a cat, lol? Instead of dropping $8000 on a BMW how about a $1000 cat?
I jest, but thereâs so much cool stuff to buy instead of a cool car. Anyways, itâs something to think about.
And I donât want to stigmatize schizophrenia but how many rich schizophrenics are there? Youâre lucky to be in a good position with money but thereâs good reasons why most of us donât have a lot of money. Itâs just hard to get money and buying such a luxury car seems like a huge gamble that you should not take.
I thought you were saving for a house??
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It has been my experience that anytime I ask someone to talk me out of doing something, it is usually something that doesnât benefit me. Sure, there are caveats, but as a general rule of thumb you should be practical and think on it. Ask your self practical questions such as if you have money saved up for an unexpected storm of crap, or if you have no debt to worry about.
Asking us to convince you to not buy the car sort of implies that this is an impulse buy that you donât really want to make. Maybe Iâm wrong, but at the very least do a realistic cost analysis and take some time to think about if you want a luxury car and the bulltucky that comes along with them.
If youâre in a good place with your debt, and if you have a decent sum saved up for a rainy day, then perhaps look into a hobby or special interest. If youâre a car guy who really wants to take it to car shows and hot rod cruises, a big thing around my part of the states, then thatâs one thing. If you want a BMW for reasons other than it being a hobby or a passion then it is probably not worth the price of keeping it running. I would try to find something that provides you fun and joy outside of work. Maybe thatâs a car, but it could be just about anything.
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I have taken on board the advice on this thread. You all make very valid points about this. Need to make sure I keep some money by for emergencies
Not any more. I realised my parents were the ones who were trying to get me to save for a house because they want peace of mind for when they die.
Really I donât need a house, and I could without the pressure to save lots of money and work all hours when I donât need to
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So you will rent for the rest of your life?
Thatâs what I plan to do.
I think owning a house, or flat! is too stressful for me anyway
I still need to visit citizens advice. Iâm not sure how retirement life works but thinking I might need to save some for that. Idk.
I already have a flat which I think is enough. Theyâre worried about me being able to keep affording the maintenance payments - given my small collection of illnesses.
It is stressful, but renting is not ideal either.
Not sure about retirement. My plan consists of paying off my mortgage, then moving to a cheap place to release the money
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Maybe I should buy a flat. One day. Because I donât know if otherwise I can enjoy retirement life.
Sorry to derail.
About the car, It is hard to tell, but if it makes you feel tonnes better and you have enough savings to spare after buying it, then maybe.
The thing is that with this illness you never know what might happen so you kind of need lots of savings actually!
Though I hope things will be okay.
I think itâs better than getting trapped by renting. It would pain me everyday knowing I am lining the pockets of someone rich enough already to own more than the roof over their headâŚ
Your not de-railing at all, itâs fine. I like talking here to people.
Things should be fine, but we always have to expect the worst and be thankful when itâs not quite as bad as we once feared
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I canât even finance a car. So I have to keep my old car running. Just depends on what you like to do, and if you can afford it. There may be other things youâd rather spend money on.
I think you are responsible enough to be able to determine for yourself whether you can actually afford the car or not, so I wonât try and persuade you either way. You work hard,you manage a business on your own. You deserve nice things, as long as youâre still living within your means. I have no idea whether this car fits into that, but you do.
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Iâm happy with my Toyota Camry.
No more expensive unreliable cars for me.
Well I canât talk you out of it. I canât talk you into it.
Just be smart. Make a good decision.
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