Quote:
Originally Posted by Nick800
Let's assume you are in the highest tax bracket. So of the $50,000 of salary earmarked for covering an M3 annually (say out of your total $300k/year salary)...Let's be generous and say you are only taxed $19,000 on that $50,000 of salary.
That leaves $31,000 after tax.
$1,500/month car payment = $18,000/year
Insurance = $6,000/year
Now you are at $24,000 already without any gas, tires, maintenance, property tax. Adds up fast.
Did you put PPF on, window tint....there's another $2-6k.
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$6000 per year on insurance!? I was paying $1400/yr on the M3 alone.