Is it a sin for wanting to own a nice car?

[Retired Expat]

All my life, I have been in the "financially challenged" situation. One thing I would love to have is to own an AMG SUV or a M sport SAV.

If one looks at this from pure financial prospective, it is really a bad idea. 100K sitting in a high yield account at 5% is making 5K a year. One 100K car sitting in the driveway will lose at least 10% every year, let alone needing insurance and maintenance costs. Currently, late model CPO does not offer much savings.

But if I don't get one now, I would probably never going to get one once I am retired. We only live once, is getting a nice car before retirement a really big sin?

I wasn’t going to respond here but it has been bugging me…. Why a Sin? Remember on the early SNL’s the character Father Guido Sarducci? He talked about sins.. that coveting your neighbors wife or masturbation are really small sins, and don’t count much at the end in determining which way you would go…

If you can more than afford something and it gives you pleasure, then by all means. If you are going to regret the having to pay for premium fuel, the added costs of insurance and upkeep then maybe don’t. There will always be folks here who think extravagance or blowing your dough is stupid. And if you run out of money and find yourself eating cat food in 20 years then they will have been right.


So you can ask that question about most anything… is drinking expensive wine a sin (and what is your criteria for expensive?) is that ultra luxury cruise or 5 star first class trip through Europe a sin?

 

[Koolau]

I wasn’t going to respond here but it has been bugging me…. Why a Sin? Remember on the early SNL’s the character Father Guido Sarducci? He talked about sins.. that coveting your neighbors wife or masturbation are really small sins, and don’t count much at the end in determining which way you would go…

If you can more than afford something and it gives you pleasure, then by all means. If you are going to regret the having to pay for premium fuel, the added costs of insurance and upkeep then maybe don’t. There will always be folks here who think extravagance or blowing your dough is stupid. And if you run out of money and find yourself eating cat food in 20 years then they will have been right.

So you can ask that question about most anything… is drinking expensive wine a sin (and what is your criteria for expensive?) is that ultra luxury cruise or 5 star first class trip through Europe a sin?

Heh, heh, back when Father Guido Sarducci (aka Don Novello) was on SNL, it was arguably the best written and performed late-night (live!!) of all time. That time has long passed in my humble opinion. YMMV

Heh, heh, nor would I depend on FGS's brand of philosophy to determine if a BTD is a sin. It's a much more personal decision. Kind of like DW and I do not fly first class - even though we could afford it. We do pay for an African friend of ours to fly first class when she comes to the USA because she has a history of blood clots which caused her to "die" on a flight. We would never see her unless we pay for her flights and we would never pay only for an economy ticket as we know the potential consequences.

I guess that's the kind of thinking I go through when I spend money. What ELSE could such money be used for if not (in this case, a new car or a 1st class ticket for DW and me.) I don't think in terms of sin but in terms of utility or bang-for-the-buck. In terms of "sin," that's between a person and their inner conscience or their "higher power." (Heh, heh, assuming it's "legal," I guess.)

In short, it's gotta be your call on "sin" or not sin. I don't think anyone here should judge other's BTDs but again, YMMV.

 

[RetireEarly50s]

BTD have enjoyed a lot of cars over the years

Go for it, currently have a Challenger Scat Pack with 485 HP that makes me smile every time I fire it up, bought a 23 Jeep Wrangler this year and a 23 Winnebago Travato camper van, we enjoy all of them along with travel, buy what makes you happy and sounds like you can definitely afford it with no problems so definitely not a sin.

 

[Cayman]

Set your priorities and financial plan, work it and if Firecalc says you have the dough then do whatever you want with your disposable income.

 

[kongmen]

Now that right there, lust, that's a sin, and one of the deadly ones too. [emoji3]

To the OP, it's not a sin to have nice things if you can afford it.

No, lust is not a sin but coveting what belongs to someone else is

 

[Mark2024]

Good news on this front. I am getting a company car. Better news is that an executive is relocating and I will get the car at several level higher than my pay grade.

Not exactly the car I wanted but it will do since it costs me nothing.

 

[Koolau]

Good news on this front. I am getting a company car. Better news is that an executive is relocating and I will get the car at several level higher than my pay grade.

Not exactly the car I wanted but it will do since it costs me nothing.

Heh, heh, so the "sin" will be when you use it for personal travel.


Enjoy!!

 

[Onda]

I may get a lot of hate replies.

No it is not a sin but what is the number one reason to buy such a car?

" Luxury cars serve as symbols of success, prestige, and social status. For many individuals, owning a luxury vehicle becomes a tangible representation of their accomplishments and an opportunity to showcase their achievements to others."

 

[freedomatlast]

For me, when I select vehicles to buy, the selection has absolutely nothing to do with prestige, status or the perception of others. In fact, I've never cared in the least about the perception of others in any facet of my life. I'd really rather fly under the radar. Some vehicles I buy for economy, some I buy for performance and some I buy just because they're fun to drive. The cheapest car I own is probably worth 5 or 6K, and the most expensive one I own stickered over $100,000 a couple of years ago.

Some people spend more money than others on clothes, some on shoes and purses, some on houses, some on vacations, and some enjoy a vehicle that will to do low 4 second 0-60 times and 1/4 mile times in the 12's in stock form. I don't see that any of these examples would necessarily be considered a sin or how spending on an expensive car is much different than buying expensive clothes. All depends on what you value and what brings you a little enjoyment for your hard earned dollars.

 

[cyber888]

All my life, I have been in the "financially challenged" situation. One thing I would love to have is to own an AMG SUV or a M sport SAV.

If one looks at this from pure financial prospective, it is really a bad idea. 100K sitting in a high yield account at 5% is making 5K a year. One 100K car sitting in the driveway will lose at least 10% every year, let alone needing insurance and maintenance costs. Currently, late model CPO does not offer much savings.

But if I don't get one now, I would probably never going to get one once I am retired. We only live once, is getting a nice car before retirement a really big sin?

Go for it. But I would recommend the Audi RS 6 Avant - around $126 k. The handling of a Wagon is much better than SUVs. Drives like a car but have a big trunk space. 3.1 seconds 0-60 and so much rarer than AMG and BWW M . AMG and BMW M - you see them a lot on the streets. Not the RS6.

 

[Onda]

AMG and BMW M - you see them a lot on the streets. Not the RS6.

This is what I am talking about. Why would I care how many RS6 you see unless I want to be seen in some unique car?

 

[DrRoy]

Before RE I never spent more than about $26K for a vehicle, and often less. A few years ago we started taking a month long trip out west every spring and we found that our mid sized SUV just did not have a flexible amount of space, especially as we usually acquired a few nice items to bring home. In 2021 we got a Toyota Highlander Hybrid for $54K. In addition to the room, it has a quieter, more comfortable ride than any other car we've had.

 

[Ronstar]

The most expensive car I ever purchased was my corvette in 2001 that stickered for $45k. Traded it in for a 2021 Jeep wrangler that stickered around $45k also. My 2017 F-150 stickered for around $53k. Still have the Jeep and F-150. I have no desire for an expensive car. If I get the urge for a new vehicle, it will probably be another average truck or Jeep.

 

[cyber888]

This is what I am talking about. Why would I care how many RS6 you see unless I want to be seen in some unique car?

As u said, Luxury cars are a symbol of status and luxury. If it’s a dime a dozen and u see them a lot, it defeats the purpose of u being unique. Just buy te unique RS6 that could outgunn all of them. AmG amd Bmw M are rated at 3.7 seconds 0-60. Slower than te RS6

 

[Onda]

As u said, Luxury cars are a symbol of status and luxury. If it’s a dime a dozen and u see them a lot, it defeats the purpose of u being unique. Just buy te unique RS6 that could outgunn all of them. AmG amd Bmw M are rated at 3.7 seconds 0-60. Slower than te RS6

Yea, but as a 1% I know that those cars are purchased mostly by people who want to look like me the 1%, but they are not me.
I drive Honda Civics Most of us drive simple, safe and reliable cars.

 

[Souschef]

In 2017, DW's 1998 Cadillac finally died. It had the Northstar engine that would blow head gaskets.
She bought a Mazda CX-5, and loved it. It was a culture shock for her because of all the bells and whistles. It was also the first car she bought that she paid in full for.
We live in a +55 MHP, and a few people made comments about the new car. We would mumble something about car payments and that was the end of the comments.

 

[cyber888]

Yea, but as a 1% I know that those cars are purchased mostly by people who want to look like me the 1%, but they are not me.
I drive Honda Civics Most of us drive simple, safe and reliable cars.

Can you really blame them if they want to look like You

You're the 1% in terms of money. But if he owns the RS6 - he's the 1% on the streets, since less than 1% owns an RS6 in the US. haha.

 

[street]

Not a sin at all. You should do what makes you happy, if you can afford to do so.

I have never had any desire to want a fancy ride. The most I ever paid for a new or used vehicle in my lifetime was ~28K.

 

[Koolau]

Can you really blame them if they want to look like You

You're the 1% in terms of money. But if he owns the RS6 - he's the 1% on the streets, since less than 1% owns an RS6 in the US. haha.

Heh, heh, I guess that puts my 2000 Buick in the 1% as well. Especially when I add in the fact it still has (just a few miles) less than 100K on the OD. YMMV

 

[Car-Guy]

But if I don't get one now, I would probably never going to get one once I am retired. We only live once, is getting a nice car before retirement a really big sin?

I started buying nice (expensive) vehicles a ~decade before I retired. Since retiring I just keep on buying them every 12 to 18 mos. But cars are my big hobby. Matter of fact, in early January, I just bought another high end (~115k window sticker) truck. I've already put almost 5k miles on it. So I don't think it's a sin, if it is, I'm in deeper trouble than I thought.

 

[Andre1969]

If one looks at this from pure financial prospective, it is really a bad idea. 100K sitting in a high yield account at 5% is making 5K a year. One 100K car sitting in the driveway will lose at least 10% every year, let alone needing insurance and maintenance costs.

Well, if it's a $100K car, hopefully it's in the garage when not in use, and not sitting out in the elements

One way I've justified a vehicle expense, if it feels "expensive" is to look at it as a percentage of my financial assets. When I bought my $54K Charger back in September, that represented about 2.2% of my financial assets. And since I bought the car, I've "made" that money back and then some, several times over.

Back in 2012, I bought a new Ram, but late in the model year, so they were running some pretty good discounts. It was around $21K out the door. That was about 2.7% of my invested asset value back then.

Now my first new car, a 2000 Intrepid, I used a different type of financial juggling to justify that one. Back then I still had a second job delivering pizzas. The monthly payment on that car was $347.66. That's about what I brought home, in a good week of delivering pizzas. So considering I had a full time job, and this car would cost me roughly 1/4 of what I took home on the second job, I figured it wouldn't be that much of a financial strain.

Another way I justified it, was that I had refinanced my mortgage a few months earlier, and that saved about $200/mo. The Intrepid replaced an '89 Gran Fury that had been a police car, and required premium fuel. I estimated the Intrepid would save me about $150/mo in fuel. So I used that to convince myself that in some respects, the Intrepid was a "free" car!

Using the car's purchase price as a percentage of invested assets probably would not have been a good idea, with that first car. The car was $22,389 out the door, which represented about 47% of what I had saved/invested at that point. Most people don't have a lot saved up by the time they're 29, so using that metric would probably be intimidating for most people. But, once you're older, and have a bigger nest egg, it can be a good tool to see that a new car probably won't be the financial strain you think it is.

 

[skyking1]

If you have a cool mil, the new diesel pickups are a solid 8~9% using that math. That's a hard sell, and yet it would suit us for traveling with the trailer.
I can buy a lot of parts and new paint and upholstery for the old truck and not put a dent in that.

 

[marko]

Good news on this front. I am getting a company car. Better news is that an executive is relocating and I will get the car at several level higher than my pay grade.

Not exactly the car I wanted but it will do since it costs me nothing.

Good for you! Waaay back I got my first company car. A Mercedes S 500 class. Killer car. I had no local business travel so it was just my personal car.

A jealous colleague commented that I'd have to pay tax on the lease payments. I said: "Oh, so I get a $75,000 car complete with free gas and insurance. And it is only going to cost me, maybe $2,000 extra on my taxes? OK then!"

 

[Pointby2]

Not necessarily these days. I buy higher end sports cars (not Bugatti's) but still ~$100k cars. I haven't lost a dime (inflation aside) on the last 4 or 5 I have bought. When I trade in "last years model", I've been getting about what I paid for them on the trade. (due to financial appreciation). Most only had 15 or 20k miles but one had over 40k miles on it. Didn't seem to matter. Things sure have changed on the higher end car market.

Exactly. It's been possible, especially with the right Porsche models, to buy them and basically drive for free. (Don't know how long that will last though.) My little Ford Focus RS purchased in 2016 was still worth what I paid for it, at least when I last checked.

 

[Closet_Gamer]

I really enjoy nice, preferably fast, cars. It's ebbed and flowed with financial plans and family needs over the years, but I really like sporty cars.

You can have anything you want in life, you just can't have everything you want in life. If you want a snazzy car and it fits your into your broader plan, go for it.

Personally, I buy CPO. Snazzy cars are often low mileage, depreciate quickly and can be kept for a long time. I bought a 5 year old Boxster S and it only had 30K miles on it. So now I have a 6.5 year old car with 37K miles on it. Its in pristine condition and I paid about 75% of the original price including a 3 year bumper-to-bump warranty (and I bought it during the post-Covid car inflation). I can keep it a very long time.

You have to shop the CPO market pretty hard and be patient but you can get some great deals.