Most spent on cars?

[trirod]

Until recently I'd only spent 5 figures on a car once. That was the $10,000 we paid for my wife's Saab 900 convertible about 15 years ago (we still own it). But a few months ago I dropped $28,000 on a 2005 Lotus Elise, which has been a dream car of mine for a long time. Interestingly it was about the same percentage of our income as the $10k many years ago!

My theory is that I should be able to keep the Lotus for a few years and sell it for what I bought it for. At least the prices have been gradually rising over the last few years, and they are a fairly rare car, so I hope the trend continues. So if all goes well it's really just converting cash into a different form of wealth for a few years!

My daily driver is a 1998 Saab 9000 that I paid $5,000 for about 10 years ago, and which is now worth $2,000 on a good day. So I think I can justify my toy based on that!


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[Hermit]

My last truck cost ~42K. A 2003 F350 7.3 Diesel with a plow. the next truck, a 2017/18 will be $60K+.

I would be very happy with a truck like yours. Mine is a 92 F250 with a gas engine, a plow, and about 200k miles on it. I keep breaking it. Something about pushing 18 inches of snow up hills with all four wheels chained up. I paid $3000 for it but it is in the shop again. Sigh.

 

[audreyh1]

Wonderful! Do you have a make/model in mind? I look forward to hearing all about it.

DH has his eye on something Bavarian. And I'm his chauffeur.

 

[W2R]

DH has his eye on something Bavarian. And I'm his chauffeur.

How cool!! And I agree, that does sound like you will be spending a lot soon. However I understand that BMWs are very nice.

 

[DrRoy]

Let's not count RVs, collectible, special purpose, hobby vehicles....just general daily drivers.

Edit to add: And it's not that I couldn't afford to spend more, just can't justify spending more for basically an appliance that serves a function. As long as the vehicle meets safety , reliability, utility and comfort criteria...that's what I buy. However, I fully expect to break $20K in next year or two for a replacement vehicle.

I completely agree with this approach to buying a car, and to the logic around how much to spend. Over the years I have found used cars to be very problematic, and for quite some time have bought new cars and kept them a long time. I have never paid any interest on a car, but have taken 0% financing once. A year ago, my 2006 Pontiac Sunbird, at 190,000 miles, bought for $16K, had a bunch of problems, including a bad transmission, so I decided to replace it. I considered Accord, Passat, and Malibu. After test driving them and looking at repair records, I chose a very nicely equipped Malibu for $21.5K. It was the best priced by at least $4000 and I was overall happier with it anyway. I have 22,000 miles on it now and I am still quite satisfied. It was my first car over $20K.

 

[RE2Boys]

We seem to have a poll for a lot of things so I thought I'd try one that I haven't seen before. Last night, I was talking with a local doctor who is trying to decide whether to buy out his lease or lease something different. He said he doesn't put many miles on but also finds it an annoyance to have fill up with gas. He now drives a Ford Expedition.

Got me to thinking regarding why he leases (suspect convenience and safety coupled with his vehicles are always under warranty, a point he mentioned) and the fact that I purchase and have older vehicles at this time. It occurred to me that I suspect I am an extreme outlier as I've never paid over $20,000 for a vehicle. Now to find out, among the ER crowd, how extreme an outlier I am, hence the poll.

Let's not count RVs, collectible, special purpose, hobby vehicles....just general daily drivers.

Edit to add: And it's not that I couldn't afford to spend more, just can't justify spending more for basically an appliance that serves a function. As long as the vehicle meets safety , reliability, utility and comfort criteria...that's what I buy. However, I fully expect to break $20K in next year or two for a replacement vehicle.

OP here! Well it took me several years, but I finally broke the $20K barrier for a newer car. Since I first started this poll, I've purchased 3 newer cars in 2016 but all were under $20K (2012 Santa Fe, 2010 Mercury Mariner for one son's college car, 2011 Ford Escape as the other son's college car). Unfortunately, the Santa Fe was totaled by my insurance company, hit a deer at high speed and curtain airbags deployed, had to get a replacement vehicle.

So a few days ago, purchased a 2017 Santa Fe (former rental vehicle) with 28K miles for $21,000. I had a good run that had to come to an end.

 

[ShokWaveRider]

I think I am a little sad within this group as in 1997 I spend $260k on a Ferrari.... But I did sell it a year later for $295k. So I did have a free year driving it....

That is the most expensive car I have ever purchased in my life. I have had a Lotus and a couple of Porsches since then but never paid more than $90k for any. I did not make any money on any other car but did not loose any either. Now I lease and do not have the problem anymore. Although I would REALLY like an Aston Martin Vantage... I Just do not have the guts to buy one.

 

[gerntz]

Well, the last two leased cars stickered $50-52K. Not buying anymore as technology changing too fast over 3 yr lease that I don't want to be left behind.

 

[HpRyder]

Just bought a 50K+ Lexus for wife.

 

[Car-Guy]

Just spent ~100k on a Jeep. (well I think the window sticker was only 98k, but well over 100k after TTL)

 

[CaptTom]

And we have a winner:

 

[Dtail]

Paid off BMW Z4 for ~70k. Top down 12 months a year.

 

[Bamaman]

My last truck cost ~42K. A 2003 F350 7.3 Diesel with a plow. the next truck, a 2017/18 will be $60K+.

My 2003 F250 Lariat diesel was only $32k new on Ford's A Plan To order a new one now would exceed $60k. I thought $650 monthly payments were high. Now payments on a diesel pick up would exceed any mortgage payment I have ever had. With 141k miles, my diesel engine just got broken in.

 

[Texas Proud]

And we have a winner:

Technically the cost of the car was not that high, but the delivery costs were out of this world....

 

[ClayMore]

Bought a Hyundai Genesis 3 years ago and paid $52k cash. I wanted collision avoidance badly since my commute offered up too many close calls. Bought an extended warranty b-b for 10 yrs or 100k miles so I’ll be staying with it a while. Spent $36k on a 63 Corvette two years ago and every time I drive it I seem to get a better offer. I’m at $57k now. I really like having a car that goes up in value. It’s almost like the system is tired of trying to get me to waste my money paying too much for stuff I don’t really want and for sure don’t need and moved on to some other poor fella.

 

[kimcdougc]

Paid $32,000 for a loaded 2017 Honda CRV last August. Never paid over $25K before that. Traded a 2015 Ford Focus Hatchback and wrote a check for the rest. Don't think we will be doing anymore care shopping for a while.

 

[kitesurfer2]

Just spent ~100k on a Jeep. (well I think the window sticker was only 98k, but well over 100k after TTL)

got a picture?

 

[kitesurfer2]

the pole is closed

 

[lwp2017]

Just spent ~100k on a Jeep. (well I think the window sticker was only 98k, but well over 100k after TTL)

I thought I splurged !
Two years ago I spent $6200 cash on a 1998 CJ in good shape with 98K miles.
It's my beach Jeep.
I feel good about the splurge because I was recently offered $9K for it.

 

[Music Lover]

Technically the cost of the car was not that high, but the delivery costs were out of this world....

Maybe...but the body in the trunk will never be found

 

[street]

The most I spent on a vehicle was 36K and that was many years ago. I bought many that about that price but I learned I don't need those expenses any more. I will be needing to make a decision in a few years what to do with the outfits I have now. I need to down size fleet and upgrade in years.

 

[ShokWaveRider]

I would say based on the responses here, that there are very few car guys posting in this thread. I have probably spent more on cars over the years than houses. Just not kept them as long. Cars are one of the better things in life for me and I have not regretted one penny of what I spent on them in my 45 years as a driver.

 

[capjak]

40K in 2013 for loaded BMW 328xi

 

[Car-Guy]

I have probably spent more on cars over the years than houses.

+1 easily (I can remember my first car cost me $600, the last one cost me over 100k.) At one time I had a list of all the cars I have owned along with the buying and selling prices but since I retired I quit tracking that stuff.

Cars are one of the better things in life for me and I have not regretted one penny of what I spent on them in my 45 years as a driver.

+1, except I've been driving for over 50 years now.

 

[Mr._Graybeard]

I like cars but I'm a bottom feeder. I bought a pretty nice '95 BMW 525i wagon (E34 chassis) about a year ago for $2500.

I was in the parking lot of a farm/fleet store with it last month. A kid in an acura rolled by and called out his window. "Sir? Nice beemer, sir."