Re: McLaren on a winning streak
vantagesc:There's a lot more to it than just income. Living costs, future expected earnings, how much you have saved, whether you have kids education to pay for, etc. I would not expect $250k / year income to be enough to afford a $250k car in most instances IMO.
Say you are 30 years old, making $250k / year. Did you just start making $250k because you graduated from medical school and finished residency? Chances are you have $0 to your name and probably even in debt due to school. Maybe you live in San Francisco where a decent apartment is $4k a month. Then $250k car is ridiculous. You won't have enough left over to save for retirement. And if you have to choose between taking your girlfriend to a nice dinner once a week or owning a McLaren, then you cannot afford the car.
On the other hand, maybe you live in an area with very low housing costs, no kids, and have already saved in the 7 figures for retirement. Buying a $250k car still doesn't make financial sense, but easier to justify in this case.
Personally I would not buy a $250k car without making at least 7 figures a year (or have already saved enough for retirement), but it depends on a lot of circumstances.
I would add that the super cars typically have more performance capabilities than the talent of the driver and road that the car is driven on. Essentially burning money. As I posted before, spending $250,000 on a car doesn't make sense regardless of your income. The only reason to do so is the purchase is considered an investment.
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"A man wrapped up in himself makes for a very small bundle."