Originally Posted By: The Critic
To drive a much nicer car than your boss? I am thinking about getting a new or newer car in the next year or so, and all of the cars that interest me will be much nicer than what my boss or our CEO drives.
Should that be a concern? Some people say it's a no-no, but to me, I feel that I should have the right to drive whatever I desire without feeling guilty.
If the cars you like are nicer than what your boss/CEO drive, there is a reason. The reason is that the REAL costs of life (which you may not have encountered yet), are far higher than what the simple in the head perception provides.
Now there is a narrow window in time where with the right choices you can be doing better than most, literally living like a millionare. But it takes the right choices. My wife and I are there, as we make very good salaries, didnt buy too expensive of a home, have short commutes, and are "DINKs" (dual-income, no kids). We live about as good a life as any reasonable person sustainably can with some nice stuff, doing fun things, etc., WHILE saving heavily for retirement, paying our house down, etc.
This allows some splurge, but I warn you, single income people need not attempt this. You are NOT in the position to be this way for a few years (unless you are secretly married).
The day will come however, when having a decent home in a decent school district, keeping your kids outfitted with what they need, etc., will cost you a LOT of $$$. Some folks lease things they cannot afford, and then cause a keeping up with the Joneses vortex that sucks others in. It is very easy to be sucked in. Those who want the best quality of life for themselves and their family, while not being sucked in, will own modest cars and stretch their dollars. Real life isnt MTV, real life is stretching that dollar and hearing it scream. Expensive, depreciating cars dont help, especially as the need for size increases.
So while your tastes may be very expensive, realize that most of what you see of this on the outside is fake.
I recommend you read "The Millionaire Next Door", as well as some of Dave Ramsey's books. SERIOUSLY - get on a budget, account for EVERY dollar before the month starts, and avoid debt. Once you have a real, sustainable budget that allocates your money and gives you good insight into what you truly can afford (dont forget alternate housing arrangements if you have something really good and cheap for now that will not last).
You may find that you can afford a nearly-new 328i wagon, you may find that you can only actually afford a five year old GTI. Remember also that used isnt always the best deal when amortized over the ownership miles, and also that (as determined by your post frequency on here now versus last year) your time is more sparse and you may not want to spend a lot of time working on a car. The fancier, more powerful, more bells and whistles, the more to go wrong. Sometimes a nice new car with just the basics in a KISS fashion is the best option! Think about it.
Your life will go through more changes in the next ten years then it has since you were conceived, and then it will before you die. Now Im not that old, but considering college graduation, job, relationships, marriage, kids, buy first home, start making big financial decisions, etc., it is pretty severe. It means that you need a good, nice car that will provide long-term utility (remember that trading cars is the bad financial decision, not buying and having them). But it doesnt mean that you should over-extend... Getting into debt now can destroy most of your dreams and push the timeframe to getting there out by ears. Saving a little now can mean a far superior financial position and quality of life a decade or two from now. You may feel like you have freedom, but you need to be thinking long-term now.
I was told that you should dress the same but a little lower-end than your boss. I believe that you should carry yourself as highly as you can (remember, its not about name brand but what you do with what you have and how you carry yourself), but keep an extremely modest profile when it counts. A car may not even be seen by the boss, you need to understand office politics and chatter, who talks to whom and what they are concerned about.
And remember that an outfit Honda Odyssey can cost as much as a new BMW!
