re: Which car deal would you do?

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I have two paid off rental houses (that more than cover these monthly payments), make over $100k and am single

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Get a cheaper car and invest in some plastic surgery or liposuction.

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I will invest the difference.

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unlikely

I get the car thing, I have the same problem. I do okay and I used to drop a lot on a nice car. I figured my mileage would make it a break-even affair.

But then I stared buying 10yo low mileage fun cars and the difference is night and day.

You drop minimal money on something with maybe 10 years and 30-50k miles. Problem? Unhappy? Hefty maintenance? You can drop a match in the gas tank and walk away from it and lose less than the depreciation on a 840i. I have a close friend that buys used 7-series about 3-4 years old for about $50k, which is half price. He turns around after 2 years and flips them for $35-ish.

Point being, if you are (a) looking for something cool; (b) looking to squeeze a little more blood from a stone - go for a 10yo XK, SL, 8er, Vette, whatever. Finance it, and you will still have a boatload more cash laying around for other investments.

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The difference of the two is $3,840

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Let me preface this by saying that I’ve been all about cars since I was old enough to crawl. So I’m not gonna bust your chops on what type of car you go for. I’ve had (and have) Jags, Porsches, classics, muscle cars, road race cars… you name it. And I’ve loved every one of those money pits (as they sent my mechanic’s kid to college). But here’s the deal: it’s depreciation on that car that’s going to crush you. So don’t get caught up in trying to make a financial argument for one loan term or interest rate over another. It’s really not the elephant in the room when you go for cars like that (and I have).

Think of this as asking to get kicked in the nads by a really, really pretty girl. Best not to try to make sense of it.

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I wouldn’t touch anyone of those deals. Couldn’t imagine having that kind of car note.

Bought a 2021 BMW X5M a few weeks ago and my car is around the price of the two cars your looking at. I think my note is around $550 a month for 60 months. I’ll pay $1000 to $1500 a month to pay it off early because I hate having car payments.

My cars are fun money but I don’t want them to be a burden if I lose my job. My 2022 F250 I ordered the same week I’ll owe 15k on when it comes in once I trade my 2017 in and out 6k down.

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I would generally agree. I sold my Camry yesterday for $18k (bought in 2016 for $21k). I could put money down, but at the low rate just don't want to because it doesn't make sense. I am putting that money where it can work. So, the note doesn't bother me at all and doesn't stretch me thin.