To buy or not to buy, what to buy, how much to buy. I am now facing this dilemma.
Is this a bad decision considering my goal of being work optional by 45?
I REALLY want a new car. I don’t need one. I want an AWD SUV so I can drive off-road and in the snow (which I do often during ski season, right now I rent one for ski trips as I cannot legally drive my RWD coupe due to traction requirements) and for more room if I ever have a family.
I found a nice one, generally reliable, and sporty for 41K. It’s perfect.
My current car is worth 10-14K; 2K loan. That means I would like have to pay: - 10K down - 4K in taxes and fees - 1K to ship to me - Total Out Of Pocket: 15K (10K from sale of my car) - 30K loan @5.5% = ~575/month
Is this a bad decision considering my goal of being work optional by 45?
My financial profile: Age: 28 Annual Income: ~140K Net Worth: 223K - 100K in Retirement - 73K in Taxable Investments - 30K House Fund - 20K Emergency Fund - 2K car loan
I work remotely from different countries rn but will be returning to my mommy’s basement soon. No housing cost. Tendies paid for by mommy.
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