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Is it really terrible to buy a nicer car ?



Income: I am 23 and make $120,000 pre tax in Texas as a software engineer at a massive tech company. I also get around $40,000 in stocks and cash bonuses per year.

Financial Spending: No student loans, medical debt, etc. I have an emergency fund of around $50,000 in an HYSA and have a high amount in my 401k relative to my age, which I am contributing 15% of each paycheck towards. (My employer does a 50% match up to the IRS limit). My apartment rent and utility bills total around $1400 a month.

I currently have a paid off Toyota Camry. I like the car and 100% understand its reliability and the financial freedom one gets from a paid off car, but I have always wanted to get something sporty, fast and mod-able. I am sure I could sell it for around $30,000 based off prices I see online of the same specs. I don’t have any expensive hobbies such as traveling etc. I really just love driving and cars, but I always followed financial advice from people in my circles where cars are a depreciating financial sin. I know a guy who is a millionaire in his 30s and drives a 5 year old Kia sedan.

I am also very confident that with my networking abilities and current technical role (computer vision/machine learning) I will be making substantially more money in the next 10 years. If that matters at all.

I would love to buy the car I have dreamed of for a long time, but it costs around $60k OTD (Supra 3.0 Premium). Selling my Camry would already cover half of that.

Would it be stupid to save up for the remaining $30k or sell some stock for this ? (still have $90k more stock coming in over the next 3 years) All of my tech friends tell me that it is an incredibly stupid decision, but in my opinion it is something I’ve wanted since I was young that would make me happier. But maybe others believe such way of thinking is näive. I was thinking about waiting another year or two but even then my friends said not to. In my eyes, I would buy this car 100% knowing it is a bad financial decision, but keep my head up moving forward by maxing out my 401k, spending less eating out, investing in a brokerage account, etc. (things I am doing regardless of whether or not I buy). This isn’t some sort of lack of confidence for women play, or looking to flaunt wealth. I have a lovely partner of 5 years and she makes around $80k.

Any broader financial advice is appreciated. I think I might get an appointment with a financial advisor.

submitted by /u/workthrowaway627628
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