What Is The Most You Would Ever Spend On A Car?

Image: Porsche

How much are you willing to spend on a car? It’s a simple question that I came up with an answer for many years ago. Most people don’t really think about their limit, looking at cars as whatever monthly payment they can afford, or whatever. Did you go to the dealership with a number in mind, or did they talk you into something that was realistically out of your budget? We’re seeing huge average transaction prices in the market right now, and we’re coming off a cycle of people overpaying with wild dealer markups. Maybe you should think about your answer.

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I’m a Porsche nerd (bordering on apologist) through and through, I own four of them right now, and I’ve had a dozen more in the past. Until recently, the most expensive one I’d bought was $12,000. Then I got my 996 Turbo for $35,000 and it was the most I’d ever spent on a car, and nothing else has come close. Even buying a brand new station wagon never got anywhere close to that number. Would I consider going higher for any reason? There’s certainly nothing on the Porsche lot right now that I’d spend the MSRP to buy.

No, my hard limit is $60,000. I’ll never purchase any wheeled vehicle with a price tag over that number. It may seem like an arbitrary number, but I just don’t value any driving experience I’ve ever had higher than holding on to that many dollars. I am nearing middle age, I have a good job, great credit, lots of assets, an above average retirement account, and plenty of cash in the bank. I could go buy a new six-figure sports car or luxury machine right now, and the dealer would be happy to have my business. But there’s just something deep inside my Midwestern bones that won’t allow me to even consider it, even if I had Elon Musk’s bonus check coming in.

For the purposes of this exercise, we aren’t including taxes, upkeep, modifications, or insurance, for obvious reasons. So what’s your number? Are you dropping a few million on a hypercar? Are you perfectly happy with a sensible mid-sized sedan? How much are you spending, friend?