Just been thinking about this question lately, and if I have been too extravagant in my short life and should tone it down (automotively wise).
Around what percentage of your net worth do you think you should splurge on a car? I know this figure will depend on wether you already own a house and the rest, but I'm curious to what other people think.
I myself think I might have been a little too hasty in buying myself a BMW 318is 2 years ago for around $23,000. I was 19 at the time and thought it was a great idea. But now I'm beginning to wish I had purchased something cheaper and used the rest to invest with. Giving it a $20,000 value today means I spent around 17% of my net worth on my car, which seems like alot to me. Especially given cars being a depreciable asset.
Thinking about it I'd probably in my current position be willing to fork out 10% or less.