So
@gabbo is entirely right in his thesis. Car notes should be treated as liabilities and not assets and therefore having a high car note is financially stupid.
However, I can't say I'm 100% behind it. A few years back I was earning real well and could afford a bucket list item. I've always dreamed of owning a Benz and I made it happen. I bought a 2-yr used E350 (literally half the cost of a new one by that point). Paid 36k total. Before this car, I had bought a Camry for 22k and before that I had hand me downs. Tired of Camry's and hand me downs, I splurged on the Benz. Put 11k down(most was trade in from Camry) and monthly payments are around $420. That was double what my monthly was on the Camry but at the time I could easily afford it. Repairs on the Benz are atrocious. If its going to the shop, minimum $1k bill. There's obviously pro's and con's of owning a nicer car but in the end I gotta say I'm really glad i did it because it was a lifelong goal of mine and I made it happen by the time I was 30. Certainly don't recommend this path for most people, especially if youre trying to budget properly, but sometimes you have to treat yourself
Also - I drove about 30k miles per year at the time and a 1.5hr commute so I wanted something comfortable, luxurious, and with some serious acceleration for when I gotta zoom pass people on the highway.
