Whats up guys?

Yes, easily!





Is school out?

 

There are a couple ways to look at it: I got my first Fcar when I was 27 ('82 308 GTSi), after I got my first "real" job. In many ways, like you, it was the best time to own one as I wasn't married, no mortgage and had no other serious commitments. So there's the argument that you need to seize this window. And yes, without other commitments, $125K is plenty, depending on the rest of your lifestyle of course. Then there's the question of what else you want to do with your life at the moment, i.e., exotic travel, entertainment, real estate, or—God forbid—savings. That 360 is freefalling, so outside of maintenance costs, depreciation is going to be your biggest short-term challenge. Nevertheless, as with any purchase, buy it well (make sure its service history is current, owner history is solid, etc.), enjoy it and call it money well spent.

 

Maybe my finances are quite different than others but affording a 70k exotic, second car on 125k salary seems a huge stretch to me...

 

It's just money, and it's best to own one of these while you're young.

Not smart, but best

 

Oh, and definitely pick up your toys before you pick up a wife.

 

When I was young I spent some of my money on fast cars,drinking and slutty women all the rest of my money I wasted.

 

As a young Mech. Engr, when I was 27, I bought a 275GTB. This was 1978, so you can imagine how much I made (not much). I only had enough money to pay mortgage, utilities, food, insurance, etc. .... and work on and restore the GTB. I was surprised to find the receipts on the restoration over the next 15yrs added up to almost $70k, doing much of the work myself. It's all about priorities... how much do you want your dream car?

 

I'd get into a house right now instead. You are going to have to buy a house sooner or later.

As for your question, yes you can afford a 360 with 125k a year at 25. Let's say you only spend 40K a year on expenses, this is definitely possible.

also, what line of work are you in?

 

Oh Pulleeeze! Who needs a house when you are young and single and flush with money. Get the car, have a blast, waste money on it. You are young and have no wife, kids or other social responsibilities. You earn $125K a year and you are unencumbered with debt. Go for it. These reckless adventures of youth will form the basis for happy recollections once you are stuck with real responsibilities.

 

Well said!!!!

 

I have to remember that line! My younger days are a happy blur and it was worth every penny.

Even if you are kidding there is a kernel of truth there.