Gallardo purchase at what income level?

Fortis, understandable, I'm not asking what anyone does nor what they make as you have undoubtly realized. I appreciate the advice and have all questions answered.

 

Thanks

Fortis, understandable, I'm not asking what anyone does nor what they make as you have undoubtly realized. I appreciate the advice and have all questions answered.

 

Thanks

 

so what color are you going for?

I am sure if you get one you will be thrilled with the car.

Good luck with whatever you decide!

wow i only just saw this one,

 

anyway, im financially conservative to the absolute extreme, and therefore.

 

the only thing I owe on is my home.

 

My answer is NO! you can not,

 

if you owe money on your home you should not be spending money on toys IMO.

 

im sure many would dissagree with me, but i am very conservative, and believe that unless you have no personal debt (i.e. home loan, personal loan, boat loan, massively outstanding credit card etc) you should not be going out and buying something frivolous.

 

now lets not get into the the philosophy of, if you own your home using it as security for other borrowings to earn more money, i think the intention of what im saying is quite clear.

 

other things to keep in mind however, i believe your tax system in the US is different, and repayments on your home can be a deduction on your tax (only heard this in passing so i may be wrong). and if you would be paying cash, why wouldnt you put that money against your home?

 

again, this is the clearly super conservative side, and thats why im still treading carefully at the moment even just spending $140k on a used Porsche (yes cars are far more expensive here in Aus than in the USA), and why ive always stuck to cars just below the $100k mark, because cars are toys, and as rightfully mentioned before by Russell, what ever $ you put into it, expect it to be lost. If you can spend the $ and not loose sleep about it then you can afford it. but i for one couldnt sleep knowing ive brought a heavily depreciating liability (theyre definately not an asset) if i still owed money on my home.