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5646 | Do you think someone can afford a car which is worth $100,000 if his/her annual income is $100,000 ? |
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MR. RETARDO
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NO BECAUSE YOU NEED TO BUY GAS, INSURANCE, REGULAR MAINTENANCE, NOT TO MENTION COST OF LIVING. MAYBE IF YOU FINANCED OVER 5 YEARS... |
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n K
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I would have to say he is foolish to do that.
there are other place where money can be better spend.
1) children/family
2) other investment
3) living in a house alone is NOT a good investment but renting it out is better
4)your heath care this should be #1 concern |
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dredude52
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The question is "can someone afford a $100,000 car?" Not "is it a good idea?" Right? Not, "Is this a good investment?"
Sure, just like someone who makes $50,000/yr can afford a $100,000 house. But it would be foolish to buy two. Forget going out to eat. Forget cable. Forget the cell phone. Forget anything else.
Especially for a single person living in affordable housing, this is entirely doable. |
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kurticus1024
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They could afford it. It would be STUPID to buy it though. Get ten parcels of land, 10 acres each. Retire rich in ten years. You would have to pay the taxes though. |
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Frank Castle
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No.
Top 3 Answerer in Business & Finance. (Vote for me) |
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icprofit2000
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You can pull if off, if you do what some people do, which is what until you can pay cash for the car. |
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tazzz6413
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yep, unless you are living beyond your means already, and your drivers record sucks. |
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thunder2sys
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no. especially since a car depreciates in value. Spend the money more wisely. |
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Teufelhunden361
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They can afford it but it would be a terrible investment. A person who has this sort of disposable income would be much better served by investing this money in to their 401k, Roth IRA, and/or mutual funds. |
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Hax
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Nope. That would be the dumbest idea ever. You still have to pay taxes and a car is a terrible investment. |
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