Not about income or net worth to me, I have a goal of getting an nsx by 30, it's either that, or a third unit

Too many variables too, living with someone or not, scale of debt, savings, buy vs finance the car, long term travel, etc
first world problems

What donk said pretty much. You have different needs at different times of life. Daycare is a significant cost for us and cost about the same as the lease on my M3.

Together daycare cost + M3 would have leased me a 911. Good luck getting an infant in the back of a 911 though.

You're just not trying hard enough EvoFire!!!!

New pad:

https://www.realtor.ca/real-estate/2...naramata-rural

Drives M3. Says he's poor. :fuckthatshit:

For cars, many people follow the 20% down, lease for four years, no more than 10% of net income rule aka 20/4/10 rule.

With a lease of about $1800 for a GT4, you'll need at least $18,000 net a month to do it comfortably.

Hmm. I think it's actually finance for four years, not lease... Which means you'll need MORE money lol.

20% down on a car? I must be doing something wrong. I've put down 0% all this time. :okay: #poor #iwantanM3

Nobody said I was financially wise. It was a financially stupid decision but #YOLO

IMO, for any car, you should only buy it with cash. So it's not an absolute net worth or income. Some people have a high income, but no savings.

So if you have the cash to buy a GT4, and using that cash doesn't affect your daily life/bills/mortgage, that would be the *earliest* time I would consider it.

haha just teasing :hotbaby:

Re: GT4 and other dream cars - Just #YOLO and buy it. There's never a right time to buy these kinds of cars. If you have the means to do it, then go for it and drive it like you stole it. Forget what everyone else says or thinks.

Cash flow is the MO these days, as opposed to having access to cash.

The price of used sports/vintage cars has increased significantly over the past several years, thanks to the pandemic, influencers, etc.

In the current inflationary environment, it can make sense to buy the car when the example you want comes up and finance it using your HELOC at essentially a negative interest rate.

And then when you go to resell it, the jackass wanting to buy your p / 911 / Ferrari / GTR asks so have you ever raced it or has it been driven hard?

What your thinking of replying:
no, I bought a 400hp sportscar to get groceries and drive it at 50kmh only.

What you actually say:
I have babied it for all its life, absolutely not

I bought a condo when I couldn’t afford it, I bought an e30 m3 when I shouldn’t have, and both ended up being good financial decisions. IMO don’t rationalize it, just make sure you aren’t fucking yourself. Don’t think of the purchase price being a loss if you can’t afford it, think of the money it will cost you to get out of the decision.

I like to say you need to be in a position either financially OR mentally to joke about it if it goes fucking wrong.

I saw a comment on a Ferrari auction once that stuck with me, the seller was basically losing $20,000+ on the Ferrari he was selling because he got burned by the previous owner and had to fix a lot of shit… as he said: “It’s all good, I wanted to scratch my 1990’s Ferrari itch and I ended up nicking an artery instead, just one mis-step on the road to automotive Nirvana” haha…

20k is a big loss, but it's not catastrophic for someone considering a gt4. If it is, I'd say that's a pretty good metric you shouldn't consider it.
If I lost 20k on my e30 after 2 years of ownership, I wouldn't say that's a disaster. It wouldn't make me feel good, but people have developed this idea that cars aren't depreciating assets. 20k lost in 2 years on some new 3 series is pretty standard, the gt4/e30/ferrari is a shitload cooler way to do it.

330k over asking in 8 days

https://i.imgur.com/sZEM05v.jpg

Nicely renovated character home in a “gritty neighbour? There’s a huge segment of the population that would O at the thought of that.

For a $2.5M house
$500k down with $11k monthly mortgage... GOT DAMN

Who has $500k down? Like that's crazy man.

Any predictions on the DT condo market? Seems like it's gotten battered last couple years

Almost anyone who bought a condo or TH at least 5+ years ago in Vancouver would have 500k down if they sold it. But who are we kidding, we live in Vancouver. 7 figure down payment is the name of the game.

Vancouver in a nutshell.
https://pbs.twimg.com/media/EcBGy6oWsAE-_FF.jpg

More than most people think.

When the pandemic is over and people are comfortable going back to DT that's when prices will go up. But there's some current sellers that we've came across unwilling to move on their list price

Yeah, that makes sense.

I guess I would ask who can service an $11k mortgage? I only know a few friends who can do that and they are software engineers or entrepreneurs with a good business.

There are many more wealthy and high income people in this city than people tend to believe. A few pages back, I talked about friends of ours, under the age of 40, who bought a house on the outskirts of Shaughnessy this year ($3M+). Well, their business partner made the Top 40 under 40 in BIV this year.

A house like the one on Trinity St would definitely go to a typical two big-tech income household.