Author Topic: Do any Mustachian in here own expensive cars ???  (Read 19900 times)

golfreak12

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Do any Mustachian in here own expensive cars ???
« on: January 11, 2017, 08:47:49 AM »
Sorry if this was brought up already.
I know we all expressed the desire to FIRE and we all know expensive cars are the BIGGEST waste of money but do any of you secretly has expensive cars ??? Like over $40K+++
I mean if you are so well-off, you can justify having one right ???
I ask because my LUST is becoming a REALITY in a short time. I've been lusting over a Corvette C7 ever since I first saw one and I figured one day but not any time soon. However, I'm joking with my DW one day and she actually gave me the approval if we don't spend any money this year.
I even started my year long countdown to getting my dream car journal.
So lets fess up and tell us what expensive car(s) you have hiding in the garage.

mb196

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Re: Do any Mustachian in here own expensive cars ???
« Reply #1 on: January 11, 2017, 09:10:53 AM »
First the Mustachian Credo forbids this greatly.  It's like asking permission to embezzle funds on a forum about Ethics, you'll get little or no opinions.  Second, the Mustachian Police will vilify anyone who does not support that credo.

Having said that, I personally think that once you cover the bases, ALL the bases and all the basics, there is nothing wrong with buying luxury items as long as they bring happiness.  Don't confuse happiness (long term) with pleasure (temporary).    To me Mustachianism is not about being a miser or only shopping at Thrift Shops and borrowing tools from your neighbors.   To me it is about being balanced, being frugal and enjoying life.

You need to define what your basics are.  Is it owning a home, is it having no credit card debt, are you saving for retirement and other short and long term goals, do you have proper life insurance to cover your family, etc etc.   Only you can define what those things are and be responsible and truthful about it.   Once all those things are addressed and you know that by proceeding with this purchase you are not going to burden your family/budget/plans/goals, then by all means get it.    If the purchase throws you off, then you are not balanced and it's not a balanced purchase.

Two years ago I replaced my car, I posted the question on this forum and was trashed for it, told that I was looking for justification to proceed.  That taught me a valuable lesson that 3 years later, I'm able to see clearly.  But instead of trashing you I'd advise you to look at your goals and look at your life in general, and then make the right decision.

After all, what is the point of working like a dog, saving every penny and NOT being able to enjoy some things.   Some will say the point is about retiring early but I disagree with that.   During a fire or while swimming, you are careful how you breath, but you don't fully stop breathing because doing so will cause you to die.   Replace breathing with spending and just be careful and be sincere.



Stash Engineer

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Re: Do any Mustachian in here own expensive cars ???
« Reply #2 on: January 11, 2017, 09:15:51 AM »
I've been riding the MMM train for a few years now, but do still dream about having a Viper one day.  I even told my wife that once we hit the arbitrary target of $500k in NW, I might just have to buy a used GTS.  Secretly, I'm hoping that by then I will no longer have the desire to own one.  So far, the car lust hasn't dissipated :o

bacchi

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Re: Do any Mustachian in here own expensive cars ???
« Reply #3 on: January 11, 2017, 09:24:23 AM »
I own a sports car. It's now 14 years old and I do much of the maintenance and repairs myself.

Did it delay FIRE? Of course. There's no getting around that.

Do I still go outside, look at it, and say, "Damn, that's a beautiful car." Yeah. It's also fun to drive.

2Birds1Stone

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Re: Do any Mustachian in here own expensive cars ???
« Reply #4 on: January 11, 2017, 09:24:56 AM »
Sorry if this was brought up already.
I know we all expressed the desire to FIRE and we all know expensive cars are the BIGGEST waste of money but do any of you secretly has expensive cars ??? Like over $40K+++
I mean if you are so well-off, you can justify having one right ???
I ask because my LUST is becoming a REALITY in a short time. I've been lusting over a Corvette C7 ever since I first saw one and I figured one day but not any time soon. However, I'm joking with my DW one day and she actually gave me the approval if we don't spend any money this year.
I even started my year long countdown to getting my dream car journal.
So lets fess up and tell us what expensive car(s) you have hiding in the garage.

Not that expensive, but I purchased an Infiniti G37s Coupe (6MT, 330hp, RWD) with premium package and 21,450 miles on the odometer last year.

I LOVE the C7 vette, and as soon as I have a garage I will be scooping up a 2015-2016 z06 ;)

libertarian4321

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Re: Do any Mustachian in here own expensive cars ???
« Reply #5 on: January 11, 2017, 09:28:58 AM »
My wife drives a BMW 328.  It would probably cost $40k to replace it new today, though when we bought it a few years ago, it cost less than $40k.

She'll probably replace it with a Tesla in a couple of years.

Cars are her one extravagance.  But as the cost of that car is less than 1% of our net worth, it's not a big deal.

I drive a ratty 15+ year old Chevy Silverado to "balance it out" :)

mb196

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Re: Do any Mustachian in here own expensive cars ???
« Reply #6 on: January 11, 2017, 09:31:06 AM »
Since we are taking about dreams and desires .....

I'd like a large sedan, a Mercedes S550, this will be my Saturday night or Sunday morning car.

I'd like a convertible, an Audi, BMW or Mazda Miata.  this will be my going to the beach or fun car.

and I'd like a large SUV, such as the big Lexus or Land Cruiser to go on road trips with my entire family.

Instead I drive an used truck in which I carry construction materials and stuff from thrift shops or good furniture found in the garbage or being disposed by friends and family.

golfreak12

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Re: Do any Mustachian in here own expensive cars ???
« Reply #7 on: January 11, 2017, 09:35:53 AM »
First the Mustachian Credo forbids this greatly.  It's like asking permission to embezzle funds on a forum about Ethics, you'll get little or no opinions.  Second, the Mustachian Police will vilify anyone who does not support that credo.

Having said that, I personally think that once you cover the bases, ALL the bases and all the basics, there is nothing wrong with buying luxury items as long as they bring happiness.  Don't confuse happiness (long term) with pleasure (temporary).    To me Mustachianism is not about being a miser or only shopping at Thrift Shops and borrowing tools from your neighbors.   To me it is about being balanced, being frugal and enjoying life.

You need to define what your basics are.  Is it owning a home, is it having no credit card debt, are you saving for retirement and other short and long term goals, do you have proper life insurance to cover your family, etc etc.   Only you can define what those things are and be responsible and truthful about it.   Once all those things are addressed and you know that by proceeding with this purchase you are not going to burden your family/budget/plans/goals, then by all means get it.    If the purchase throws you off, then you are not balanced and it's not a balanced purchase.

Two years ago I replaced my car, I posted the question on this forum and was trashed for it, told that I was looking for justification to proceed.  That taught me a valuable lesson that 3 years later, I'm able to see clearly.  But instead of trashing you I'd advise you to look at your goals and look at your life in general, and then make the right decision.

After all, what is the point of working like a dog, saving every penny and NOT being able to enjoy some things.   Some will say the point is about retiring early but I disagree with that.   During a fire or while swimming, you are careful how you breath, but you don't fully stop breathing because doing so will cause you to die.   Replace breathing with spending and just be careful and be sincere.

So 3 years later do you regret buying the car ??
And what did you buy ??

Yeah, I'm not asking for approval since I'm doing my countdown already. I'm already dead set on getting one in one year. The only thing that would make me think twice is if they decide to release a newer model(new styling) in 2019. I wouldn't want to get one if its going to be a generation behind.
I was just curious to see if others in here have gotten an expensive car since all we ever talk about is FIRE.

2Birds1Stone

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Re: Do any Mustachian in here own expensive cars ???
« Reply #8 on: January 11, 2017, 09:39:37 AM »
So 3 years later do you regret buying the car ??
And what did you buy ??

Yeah, I'm not asking for approval since I'm doing my countdown already. I'm already dead set on getting one in one year. The only thing that would make me think twice is if they decide to release a newer model(new styling) in 2019. I wouldn't want to get one if its going to be a generation behind.
I was just curious to see if others in here have gotten an expensive car since all we ever talk about is FIRE.

There are quite a few of us automotive enthusiasts (car nuts) on this forum =)

golfreak12

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Re: Do any Mustachian in here own expensive cars ???
« Reply #9 on: January 11, 2017, 09:42:32 AM »
Sorry if this was brought up already.
I know we all expressed the desire to FIRE and we all know expensive cars are the BIGGEST waste of money but do any of you secretly has expensive cars ??? Like over $40K+++
I mean if you are so well-off, you can justify having one right ???
I ask because my LUST is becoming a REALITY in a short time. I've been lusting over a Corvette C7 ever since I first saw one and I figured one day but not any time soon. However, I'm joking with my DW one day and she actually gave me the approval if we don't spend any money this year.
I even started my year long countdown to getting my dream car journal.
So lets fess up and tell us what expensive car(s) you have hiding in the garage.

Not that expensive, but I purchased an Infiniti G37s Coupe (6MT, 330hp, RWD) with premium package and 21,450 miles on the odometer last year.

I LOVE the C7 vette, and as soon as I have a garage I will be scooping up a 2015-2016 z06 ;)

The G37 Coupe was my dream affordable car long long ago and I ended up getting a S2000 instead. Still have that now.
In a year, I will look for a 15-16 Shark Gray and base is more than enough for me. Would love to change out for the Z06 wheels and front grill. Thats about it.

golfreak12

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Re: Do any Mustachian in here own expensive cars ???
« Reply #10 on: January 11, 2017, 09:44:43 AM »
So 3 years later do you regret buying the car ??
And what did you buy ??

Yeah, I'm not asking for approval since I'm doing my countdown already. I'm already dead set on getting one in one year. The only thing that would make me think twice is if they decide to release a newer model(new styling) in 2019. I wouldn't want to get one if its going to be a generation behind.
I was just curious to see if others in here have gotten an expensive car since all we ever talk about is FIRE.

There are quite a few of us automotive enthusiasts (car nuts) on this forum =)

Yeah I can tell from reading the "LUSTING" thread but I really like to hear from those who actually followed up on their lusts.

2Birds1Stone

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Re: Do any Mustachian in here own expensive cars ???
« Reply #11 on: January 11, 2017, 09:47:39 AM »
The G37 Coupe was my dream affordable car long long ago and I ended up getting a S2000 instead. Still have that now.
In a year, I will look for a 15-16 Shark Gray and base is more than enough for me. Would love to change out for the Z06 wheels and front grill. Thats about it.

It was my dream car from when the G35 Sport Coupe iteration came out back in ~2004 and I was just finishing high school. I never thought I would own one, but in searching for a Mini Cooper R56 I came across this low mileage 2008 specimen and snagged it for $16.5k

Best of luck on you C7! A year from now they will be pretty darn depreciated. I wouldn't concern myself with a mid model refresh. That's an even better reason to hold out and get the current gen C7.

Racer X

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Re: Do any Mustachian in here own expensive cars ???
« Reply #12 on: January 11, 2017, 09:50:08 AM »
"Do any Mustachians in here own expensive cars?"  Well, probably not, because in my experience, anyone with an expensive car gets vilified here as anti-Mustachian. 

That being said, I'm a car guy.  I have loved cars from my very first Hot Wheel at age 3 to my brand new Dodge Challenger Hellcat I purchased a few months ago.  To me, the Mustachian arguments against cars might make logical sense, but they're no more for me than they are the anti-pet arguments.  Somethings I just want in my life and I'm not going to apologize for them.  I have a handful of fun cars, I race cars as a hobby, and I'm restoring a car as a hobby.  I have no debt and I retired at age 46.  If people want to "face punch" me for my choices...  yeah, I can live with that. 
« Last Edit: January 11, 2017, 09:52:25 AM by Racer X »

Ryland

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Re: Do any Mustachian in here own expensive cars ???
« Reply #13 on: January 11, 2017, 09:55:16 AM »
FIRE is as much about the numbers as it is the lifestyle.

My thought is -- though it may push back your FIRE date -- if the new car will bring deep happiness into your life, and your numbers will continue their journey upwards long term, then you have no reason not to do it.

If you only focus 100% on numbers to FIRE, you lose the beauty of the present. Make sure to keep a Mustachian styled balance.

caffeine

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Re: Do any Mustachian in here own expensive cars ???
« Reply #14 on: January 11, 2017, 10:00:18 AM »
"Do any Mustachians in here own expensive cars?"  Well, probably not, because in my experience, anyone with an expensive car gets vilified here as anti-Mustachian. 

That being said, I'm a car guy.  I have loved cars from my very first Hot Wheel at age 3 to my brand new Dodge Challenger Hellcat I purchased a few months ago.  To me, the Mustachian arguments against cars might make logical sense, but they're no more for me than they are the anti-pet arguments.  Somethings I just want in my life and I'm not going to apologize for them.  I have a handful of fun cars, I race cars as a hobby, and I'm restoring a car as a hobby.  I have no debt and I retired at age 46.  If people want to "face punch" me for my choices...  yeah, I can live with that.

That's my dream car. I love the way the challenger looks, and I almost purchased one a couple of years ago. I hope to get one when I reach FI numbers. Until then, it will remain a dream car :(

tarheeldan

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Re: Do any Mustachian in here own expensive cars ???
« Reply #15 on: January 11, 2017, 10:05:22 AM »
I love cars! I didn't like them at all until I watched every Top Gear episode. Twice. So much fun!

If I stay in the states, I'm looking at buying a used 2017 Lexus IS350 RWD (not the F-Sport) to be purchased around 2022.

ysette9

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Re: Do any Mustachian in here own expensive cars ???
« Reply #16 on: January 11, 2017, 10:07:13 AM »
I'll join the line to the confessional!

I like cars and like driving (as long as no one is screaming in the back seat). The first real car I bought myself was a Scion tC which was fun to drive. My husband had a G35 for a while that I loved a lot more than he did. Four years later I still miss that car. We replaced it with a Golf TDI family car. I have to give up to TDI because of the émissions thing and I am seriously considering the GTI instead. I just miss having something with great handling and some pep. It does not fit the mustache credo (though it would be used), but hell, we can afford it and it would be fun. My husband just doesn't care about these things though so no sense in buying something fun for him.

OurTown

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Re: Do any Mustachian in here own expensive cars ???
« Reply #17 on: January 11, 2017, 10:07:59 AM »
I drive a 2013 Mercedes C250.  I got it after I wrecked my 2012 Audi A3 diesel.

You may now punch me in the face.

OurTown

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Re: Do any Mustachian in here own expensive cars ???
« Reply #18 on: January 11, 2017, 10:09:29 AM »
I drive a 2013 Mercedes C250.  I got it after I wrecked my 2012 Audi A3 diesel.

You may now punch me in the face.

And I lost out on the recall class action because I totaled the Audi.  That cost me about 10 grand.  You may now continue to punch me in the face, and you should probably kick me in the balls for good measure.

zinethstache

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Re: Do any Mustachian in here own expensive cars ???
« Reply #19 on: January 11, 2017, 10:16:14 AM »
I grew up in a "car" family. While working toward RE I did buy my dream car, a Mazda Miata PRHT and loved it for the time I had it. I am RE the end of this month and in prep for that we bought a 1 ton dually to tow our fifth wheel. We paid cash for it and the fifth wheel and it is what we will be living in for the foreseeable future.

I don't regret the Miata in the least. It did cost me 2k per year in depreciation because it was fairly new. I didn't need to sell it to get our new mobile home setup and it did not delay FIRE for us. when I did sell it this summer, it needed no work, I didn't even wash it and it sold on CL for exactly what I wanted for it. It was not a money pit.

We also still own and will be selling a 3/4 ton truck and our Jeep Grand Cherokee, so we never did drive mustachian vehicles in the 10 years we were pushing for FIRE. We've always paid cash for our vehicles and none of them were new.

I think you just need to do your math and accept what it will mean to have whatever your dream car is you are good to go. Also make sure your vehicle of choice has a good exit strategy so you won't be disappointed in the event it has to go like my vehicle.

scantee

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Re: Do any Mustachian in here own expensive cars ???
« Reply #20 on: January 11, 2017, 10:25:52 AM »
My opinion is that if you're well on your way to FI, or have achieved it already, and if you know that this car will genuinely make you happy, then go for it.

I used to be self-righteous about only owning cheap and practical cars, until a few years ago when I got my first nice car with some bells and whistles. Nothing fancy, but nice enough that I no longer could truthfully say that I'm totally fine owning old cars with bare bones amenities. I also started reading car blogs and magazines, which sparked a bit of an identity crises, "am I actually the kind of person who cares at all about cars?!".

Apparently I am.

For my next car I want an Audi Q5. But I'll buy it used so that I can retain some of my dignity and continue to post here.

golfreak12

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Re: Do any Mustachian in here own expensive cars ???
« Reply #21 on: January 11, 2017, 10:59:15 AM »
I'm 45 now and in my lifetime, I never had any car over $15k until this past year when I got my wife a 2015 Lexus IS as a 5 yr anniversary present.
- Bought a 2000 Honda Civic Si for $13K as a present to myself for having a first real job.
- Bought a 2002 S2000 for $15K back in 2006.
Thats about it.

I have 5 other brothers and sisters and none of them ever own a luxury car.
- Oldest brother is a millionaire. Only drives Hondas.
- 2nd oldest is the poorest of the family.
- Oldest sister bought a new Accord in 2010 and still has it. Probably a millionaire too.
- 2nd oldest sister bought a new Accord in 2006, still has it. A pharmacist with a doctor husband.
- Youngest sister drives Accord. Makes tons of money.

Needless to say, none of my family knows we have a Lexus.
« Last Edit: January 11, 2017, 11:11:19 AM by golfreak12 »

RWD

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Re: Do any Mustachian in here own expensive cars ???
« Reply #22 on: January 11, 2017, 11:03:09 AM »
My car was $30k new with taxes and fees. I'd like to buy something like a Porsche Cayman in the future, but we'd probably still spend less than $40k used.

Malum Prohibitum

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Re: Do any Mustachian in here own expensive cars ???
« Reply #23 on: January 11, 2017, 11:10:39 AM »
Sorry if this was brought up already.
I know we all expressed the desire to FIRE and we all know expensive cars are the BIGGEST waste of money but do any of you secretly has expensive cars ??? Like over $40K+++
I mean if you are so well-off, you can justify having one right ???
I ask because my LUST is becoming a REALITY in a short time. I've been lusting over a Corvette C7 ever since I first saw one and I figured one day but not any time soon. However, I'm joking with my DW one day and she actually gave me the approval if we don't spend any money this year.
I even started my year long countdown to getting my dream car journal.
So lets fess up and tell us what expensive car(s) you have hiding in the garage.

I once purchased a > $40,000 car.  The next day, I heard a knock at the front door.  I opened it, puzzled since I was not expecting any guests.  It was Pete, MMM himself!  "Hey!" I said, delighted, "What are you . . . "
That is all I got out of my mouth before he punched me, hard, right in the face.  I collapsed backward into my living room.
Pete did not say anything.  He just turned around, walked off the porch, got on his bike, and rode away.
I sold the car the next day.

GrumpyPenguin

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Re: Do any Mustachian in here own expensive cars ???
« Reply #24 on: January 11, 2017, 11:11:14 AM »
I am FI. I do not own a car. I could own an expensive car, but just don't care. 

Reynolds531

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Re: Do any Mustachian in here own expensive cars ???
« Reply #25 on: January 11, 2017, 12:25:43 PM »
Fortunately for me, driving my dad's dodge airies station wagon with the wood on the sides during my formative years means that I can look at any POS as ceasars chariot.


sokoloff

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Re: Do any Mustachian in here own expensive cars ???
« Reply #26 on: January 11, 2017, 12:40:11 PM »
We drive mostly used cars and keep them 7-12 years. (I did buy a new Nissan LEAF as the government incentives were very good and the used prices were quite high at the time.)

I do have a classic Mustang convertible (not worth the $40K mark, but clearly an "extra" car). And I have been flying and owning various airplanes for almost 20 years, so definitely non-Mustachian, but nevertheless, we're on track to retire in just a few years at ~50 years old.

I'd love to have a 911 Turbo, but just can't bring myself to pull the trigger as it's just not worth it to me, partly because the airplane takes most of the long-distance driving out of the picture. I just need enough range on the LEAF to get to and back from the airport. :)

RangerOne

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Re: Do any Mustachian in here own expensive cars ???
« Reply #27 on: January 11, 2017, 12:47:32 PM »
I recently plunked down $18k post tax and tag for a new 2017 Elantra. This flies in the face of MMM, but public transit in San Diego is pretty weak and after driving a 2002 used Elantra for 215k miles this car fells like a luxury bmw to. Got $5k from family to help pay down the car so i got a tad carried away.

I also took out $11k loan at 1.7% interest with a $175 dollar payment. I had cash technically to buy it out right but I didn't want to deplete emergency savings for a car...

 I don't plan on keeping the loan but this will let me pay off the last $8k of my wife and I's student loans which are around 2.5% interest. I just wanted a low payment while I pay off our other debt. Then I can burst down the car loan in a year once my student loans are gone.

I honestly feel like this was a pretty expensive car considering you can buy 2013 Elantra with 35k miles for around $12,500k pretax. I understand MMM's argument that a 100k mile plus car is probably the best deal. But I hate care maintenance and I commute 30 miles round trip so a low mileage car buys me a lot of piece of mind while not breaking the bank.

On the flip side Hyundai had $3250 off the MSRP price of the car with incentives. Making it drastically cheaper than a new corolla, civic or mazda. The 2017 has the latest crash safety features, improved gas mileage and 100k drive train warranty with 60k bumper to bumper. Totally comfortable driving my baby in this car.

For me that adds up to about 8 years of a full warranty vehicle to commute to work that averages around 35 mpg. Considering I will likely be staring at this vehicle for at least 10 years I am happy to spend a few extra grand to have something I really like. While still being thrifty by American standards.

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Re: Do any Mustachian in here own expensive cars ???
« Reply #28 on: January 11, 2017, 12:49:17 PM »
I overpaid for my dream car, a 2005 Honda S2000, a few years ago from CarMax at $22k. It was bone stock, with all keys and manuals, 1 Owner, with 45k miles.

Not an expensive car, per se, but definitely a luxury item as I've had it for 4 years now and it's sitting at 51k miles.

But, there's not too many feelings that beats shifting at 8k RPM and hitting tight corners and accelerating out. Life's too short to drive boring cars.

Although I couldn't imagine laying down $100k+ for a Porsche GT or Ferrari, I think renting one for a day/weekend is the more economical choice.

WSUCoug1994

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Re: Do any Mustachian in here own expensive cars ???
« Reply #29 on: January 11, 2017, 01:02:46 PM »
I have a 2009 Mercedes C350 and I think I paid $43K for it.  It is right at 96K miles so it is half done in my opinion.  I OBSESS about cars and I shop for them constantly - I think I enjoy the obsessing and shopping more than ownership.  I am a car guy and I have restored 12+ muscle cars over the years.  I will likely get another project car to work on with my wife (she loves wrenching) in the Mopar flavor. 

All things being said I would buy a Tesla P100D cash tomorrow if I didn't know better.  That is clearly at the top of my list.

TheDuder

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Re: Do any Mustachian in here own expensive cars ???
« Reply #30 on: January 11, 2017, 01:08:54 PM »
I should be buying a car soon that went for over $40K new, does that count? They are about half that price now though.

TheAnonOne

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Re: Do any Mustachian in here own expensive cars ???
« Reply #31 on: January 11, 2017, 01:10:02 PM »
I actually own a C7

Our monthly expenses are between 2500 and 3500 a month, so besides the purchase price it has not really increased our living expenses.

We have a HHI of 225k so it didn't hurt us that much. We will likely need to work 6 to 9 months longer due to this. Other than the car our lives are very frugal. (35 to 45k a year living expenses)

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Re: Do any Mustachian in here own expensive cars ???
« Reply #32 on: January 11, 2017, 01:44:48 PM »
I actually own a C7

Our monthly expenses are between 2500 and 3500 a month, so besides the purchase price it has not really increased our living expenses.

We have a HHI of 225k so it didn't hurt us that much. We will likely need to work 6 to 9 months longer due to this. Other than the car our lives are very frugal. (35 to 45k a year living expenses)

Jelly!

golfreak12

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Re: Do any Mustachian in here own expensive cars ???
« Reply #33 on: January 11, 2017, 01:45:34 PM »
I actually own a C7

Our monthly expenses are between 2500 and 3500 a month, so besides the purchase price it has not really increased our living expenses.

We have a HHI of 225k so it didn't hurt us that much. We will likely need to work 6 to 9 months longer due to this. Other than the car our lives are very frugal. (35 to 45k a year living expenses)

Finally I found someone in this forum with a C7.
Would you mind posting a pic ??

TheAnonOne

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Re: Do any Mustachian in here own expensive cars ???
« Reply #34 on: January 11, 2017, 01:50:28 PM »
I feel like I am going to get thrown off these boards now! Though, I am around 5 years from FIRE so it's hard to complain.

Our monthly savings rate is around 60 to 70 percent.

The car probably depreciates a few hundred a month as well. We will keep it into FIRE.
« Last Edit: January 11, 2017, 01:52:19 PM by TheAnonOne »

Malum Prohibitum

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Re: Do any Mustachian in here own expensive cars ???
« Reply #35 on: January 11, 2017, 01:54:31 PM »
I feel like I am going to get thrown off these boards now! Though, I am around 5 years from FIRE so it's hard to complain.

Our monthly savings rate is around 60 to 70 percent.

The car probably depreciates a few hundred a month as well. We will keep it into FIRE.
  Kicking ass at 60 to 70%  You must have an awe inspiring income!

golfreak12

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Re: Do any Mustachian in here own expensive cars ???
« Reply #36 on: January 11, 2017, 01:56:17 PM »
I feel like I am going to get thrown off these boards now! Though, I am around 5 years from FIRE so it's hard to complain.

Our monthly savings rate is around 60 to 70 percent.

The car probably depreciates a few hundred a month as well. We will keep it into FIRE.

Wowzer !!!
Did you buy it brand new ??
Base ?? Z51 ? 3LT, 2LT ??
How long have you had it ??
Is it everything you thought it would be ??

I'm in the same boat. I'm about 5 yrs from semi-retire. Wife is going to take care of me :) Which is why I had to get her permission to get one.

OurTown

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Re: Do any Mustachian in here own expensive cars ???
« Reply #37 on: January 11, 2017, 01:58:49 PM »
I feel like I am going to get thrown off these boards now! Though, I am around 5 years from FIRE so it's hard to complain.

Our monthly savings rate is around 60 to 70 percent.

The car probably depreciates a few hundred a month as well. We will keep it into FIRE.

Holy cannoli, Batman!

golfreak12

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Re: Do any Mustachian in here own expensive cars ???
« Reply #38 on: January 11, 2017, 02:03:26 PM »
I feel like I am going to get thrown off these boards now! Though, I am around 5 years from FIRE so it's hard to complain.

Our monthly savings rate is around 60 to 70 percent.

The car probably depreciates a few hundred a month as well. We will keep it into FIRE.

Its OK, I checked out your other posts.
When you make $200K-$220, you are allowed to indulge.
No board thrown is necessary....

TheAnonOne

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Re: Do any Mustachian in here own expensive cars ???
« Reply #39 on: January 11, 2017, 02:03:39 PM »
It's a Z51 2LT, it is amazingly fun. I have had it for 2 years now and we have traded plane travel a few times for road trips. Worth it every time. It's a great car for us DINKs and I do a bit of autocross with it.

I already stated that our HHI is $225,000 and we paid cash for the car. Depending on the spending level we want to maintain we could FIRE in as little as 3 or as much as 9 (9 years would be like 100k+ yearly spending so I don't see us going for that) At 3 to 4 years our we will have around 750k in VTSAX. Shooting for 1.25M, we are targeting 50 to 60 to handle lots and lots of travel!

Good money choice? Absolutely not. Would I do it again? Hard to say but I bought it before I really got into this MMM thing big time and have no plans on selling it.

I should note we are 24 and 26, still young and dumb I guess! Set to fire in early 30s, so like I said, hard to complain!
« Last Edit: January 11, 2017, 02:09:47 PM by TheAnonOne »

daschtick

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Re: Do any Mustachian in here own expensive cars ???
« Reply #40 on: January 11, 2017, 05:36:53 PM »
Although I have never spent $40k, I have done plenty of damage in my years.   That said, I really do enjoy my cars, and don't have many regrets. However, I do purchase more expensive models used, as I cannot stomach huge depreciation losses.   Also, I perform all of my own maintenance and repair work, and I generally keep my cars 10+ years.

JoJo

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Re: Do any Mustachian in here own expensive cars ???
« Reply #41 on: January 11, 2017, 06:46:19 PM »
Buying an expensive-ish car was actually what led me back to being frugal. 

The year was 1999, I had been in my first job out of college a few years, making good money.  I spent $28,000 on a car, paid cash.  It felt good for a few minutes but I realized in the long run I didn't get much joy from it.  On top of that, every 6 months or so the engine light would go on and the fix would be $800 or $1300 or $2200.  Wasn't that bad in the first 3 years it was under warranty but got old pretty quick.  Sold that sucker in 2004 when I sold my house and car to live out of a backpack for a couple years.

Miss Piggy

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Re: Do any Mustachian in here own expensive cars ???
« Reply #42 on: January 11, 2017, 06:49:08 PM »
I've been riding the MMM train for a few years now, but do still dream about having a Viper one day.  I even told my wife that once we hit the arbitrary target of $500k in NW, I might just have to buy a used GTS.  Secretly, I'm hoping that by then I will no longer have the desire to own one.  So far, the car lust hasn't dissipated :o

I'm not really into cars, but for years, I wanted a canary yellow diamond. "After we get the house paid off, I'd like a canary yellow diamond...after we have X amount of money, I'd like a canary yellow diamond..."  Well, the house has been paid off for 5+ years, we have enough money to FIRE, and guess what? I no longer want/need that canary yellow diamond. Funny.

Laura33

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Re: Do any Mustachian in here own expensive cars ???
« Reply #43 on: January 11, 2017, 07:50:57 PM »
Yeah, ok, I just joined the boards here and am risking getting booted out already, but my secret vice is my Mustang GT convertible.  I had no idea how much I loved the sound of a V8 until I sat in that car.  It's supposedly DH's car, so I let him drive it every month or two.

Required disclaimer:  we were FI before we bought it, with no intention to actually RE for the next @10 years (timing driven by kids and DH's unwillingness to quit), paid cash.  And I enjoy the hell out of it -- I'm the crazy lady driving with the top down and the heater blasting when it's 45 degrees.  Makes me happy, happy, happy.  And, oh, damn, it's pretty.

I would dearly love a Porsche 911 4S cabriolet -- never felt so safe going around a corner at ridiculous speed; I don't think I could push that puppy off the road if I tried (as compared to the Mustang, which corners like a truck).  But I throw up a little at the idea of dropping that amount of cash ($80-90K for a very used one), and finding one with a stick is almost impossible.  Plus, you know, the Mustang was the only convertible that actually fit two kids in the back seat.  So the Porsche is likely still a dream until we actually get the kids out of the house and pull the RE trigger.  If then -- it seems both excessive and inefficient to pay 2x the cost of the Mustang for something that won't get me 2x the fun.

Secretly Saving

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Re: Do any Mustachian in here own expensive cars ???
« Reply #44 on: January 11, 2017, 09:13:31 PM »
Yes, we do, but they're investments -- vintage cars that are going up in value, cars that need some work done and so on.   

mustachepungoeshere

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Re: Do any Mustachian in here own expensive cars ???
« Reply #45 on: January 11, 2017, 09:25:20 PM »
I own a sports car. It's now 14 years old and I do much of the maintenance and repairs myself.

Did it delay FIRE? Of course. There's no getting around that.

Do I still go outside, look at it, and say, "Damn, that's a beautiful car." Yeah. It's also fun to drive.

As the car guys in my house say: If you don't look back at your car after you park it, you bought the wrong one.

I shall now sit here and await incoming fire.
« Last Edit: January 12, 2017, 02:27:40 PM by mustachepungoeshere »

aspiringnomad

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Re: Do any Mustachian in here own expensive cars ???
« Reply #46 on: January 11, 2017, 09:31:58 PM »
At 34, I've spent a total of $9,800 on purchasing motorized vehicles (both 2 and 4 wheeled) so far. Granted, much more when you add in insurance, maintenance, etc...

But I do enjoy cars and sometimes dream about owning a relatively inexpensive yet totally impractical vintage car, especially a 240z. Maybe someday when I'm FIRE'd and have the time to do the maintenance myself. For those spending >40k on fancy new cars: bless you, as my investment returns depend on such folly :)

RWD

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Re: Do any Mustachian in here own expensive cars ???
« Reply #47 on: January 12, 2017, 06:23:35 AM »
I own a sports car. It's now 14 years old and I do much of the maintenance and repairs myself.

Did it delay FIRE? Of course. There's no getting around that.

Do I still go outside, look at it, and say, "Damn, that's a beautiful car." Yeah. It's also fun to drive.

As the car guys in my house say: If you don't look back at your car after your park it, you bought the wrong one.

I shall now sit here and await incoming fire.

I agree. Thankfully you don't need to spend a lot to get an interesting car.

Racer X

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Re: Do any Mustachian in here own expensive cars ???
« Reply #48 on: January 12, 2017, 07:04:56 AM »
I own a sports car. It's now 14 years old and I do much of the maintenance and repairs myself.

Did it delay FIRE? Of course. There's no getting around that.

Do I still go outside, look at it, and say, "Damn, that's a beautiful car." Yeah. It's also fun to drive.

As the car guys in my house say: If you don't look back at your car after your park it, you bought the wrong one.

I shall now sit here and await incoming fire.

Ha ha!  I always feel like a schmuck when I do that, but I do it - almost every time. 

Fomerly known as something

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Re: Do any Mustachian in here own expensive cars ???
« Reply #49 on: January 12, 2017, 07:07:17 AM »
While I don't meet the cost portion of this discussion, I bought my 2015 Jeep Renegade new at $30,000.  I didn't even negotiate that hard as I ordered it to get the options and color I wanted.  (Actually when it arrived at the dealership 3 months later it was the first one the dealer had seen with the My sky roof.)  I wanted an SUV but also wanted something that got some decent gas mileage to balance out my environmental tendencies.  Before Jeep previewed the "mini-jeep," I was seriously considering the Grand Cherokee Diesel which only came in the higher trims so at least $50,000.  If they hadn't made the Renegade I'd probably have gone through with getting the GC about now.