It looks like the forum double posted this, I'll put this in both threads
Tldr; I recommend spending <<60k on a classic antique car instead. Justification below.
Current "car guy" here, I'll attempt to weigh in
My "car guy"-ness is not about new things, I take old things and put a lot of hours and sweat into restoring them over years of work. Eventually you end up with something you've turned every bolt on, saved from the junkyard, and you can be immensely proud of it, for well less than the cost of that new camaro (if you're smart about it)
Anyway, my $.02
I see two separate problems here
1. Convincing him this is dumb
2. Him gracefully exiting the situation with his peers
1. Can be achieved with a good discussion about FIRE, life goals, lost opportunity costs, the true cost of this machine (really well over 100K, there are posts that will help calculate), most importantly the well founded psychological evidence that after a couple months it will bring him absolutely no further happiness.
Assuming you get through that, you're stuck with problem 2. Unfortunately to his peer group, cars & toys = manliness, wife saying no = bitch wife, wife winning the argument = dickless husband to be mocked. (Not true, but it sounds like that's his social circle)
So to really have a win here, he needs to get SOME kind of toy, OR, have a good story to his friends about where it's going instead (vacation or something fatherly)
One possible solution I see, is to get a 1960s classic muscle car.
Why this is better?
- loans can be secured through your local credit union or bank relatively easily, or if cheaper you can pay cash
- It is an appreciating asset, rather than depreciating. Worst case is keeps up with inflation.
- Classic car insurance will cost FAR less (like 90% less)
- Antique car registration in many states is cheaper
- it will cost you less than $60K (especially if you can deviate from camaros or mustangs and into less "iconic" cars, which are still just as cool)
- You can both retain your pride, and he'll actually be the envy of his friends because classic cars are cooler
- when this fad passes, you can sell it for relatively little loss