I have 1.2 million dollars and I want to spend 100k on a car, is this a bad financial decision

I have 1.2 million dollars and I want to spend 100k on a car, is this a bad financial decision

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What car? The answer is still yes.

>10% of your wealth on a depreciating meme
Yes it's a great idea. Here's a better one: you can buy yourself that car but only under two conditions: you have to use income generated from the one million you have now so you can't touch the principle, and you have to buy it cash.

The real problem is you'll probably want another one within 5 years

cars are boring

You can only afford a $60k car.
Get a Toyota and call it a day.

buy a 5k car and fix it up with 20k and drive that for 5yrs. wasting 100k on a car you'll wannaa replace in a year or so? baad move thru and thru

Anyone that gives a fuck about the automotive jew should kill themselves
I got a cheap reliable honda for necessities
If you spend 100k on a fucking car use to gas yoursef in your garage at night

If you already own a working car, yes.

man i wish i fucking had 100k.

Buy a motorcycle so you die

Divide total income by 20 to figure out what car to afford? That’s smart user

I assume you have a house first? If not, focus on that. Also, 100,000 is far too much for a car. Just get something decent and put the rest aside for repairs.

Get a sailboat with starlink instead

I have a little more than that, net worth maybe 2 mil, a lot in real estate. I bought a 100k car because I love cars and I didn’t want to wait until I was old. I also bought something that tends to hold its value better than others, I recommend getting something that doesn’t depreciate like crazy. I was also worried about cars like mine being harder to find in the future as big eating is encouraged. Do I didn’t want to miss out owning a car I love before it’s illegal.

It’s not the best financial decision but we gotta work for something. There are people is much worse situations buying expensive cars. Also, my income is pretty solid on top of having a net worth much higher than people my age so fuck it

What car?

I spent probably 5k on renting mcclaren, corvette c8, taycan, AMG GT mercedes, Porsche GT3, and a Tesla Y

I like Porsche the most

I want to say no but after seeing that TikTok where a bunch of salespeople in Texas have $1500/month car loans and then finding out that random models of Jeeps and normal pickups are like $70-90k I guess 100k isn't much anymore
>T. Only ever bought cars for $2500-15k in cash

It’s a Mercedes g550. It works well since I have a family, I can go off-roading and camping and have something capable if road conditions are bad, at the same time it’s just a nice car to take to the mall.

Other car I wanted was a 911, which I may get in the future but it’s just so much money to put into cars.

It’s fine. You might have to keep it for 20 years but it’s alright

>Other car I wanted was a 911
Porsche center in Atlanta has a small track you can rent a 911 GT3 for like $900 for 1.5 hours with an instructor.

It's probably more fun than actually owning it.
They have a small museum and it's like a 3 min drive from the airport.