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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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!
Sent from my iPad using Early Retirement Forum