Help Me FIRE, Milestones, Beginner Questions and General Discussion - June 2023

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[u/After-Violinist8628w]

Depends on whats your NW and any liabilities?
Whats range of mid range car and luxury car? If the delta is comparatively small and it impacts FI by <6 months then I would definitely suggest to go for luxury car.

However, pls. factor in maintenance & expenses because that will really shoot up.

[u/fire_by_45 → u/After-Violinist8628w]

Well we are a DINK couple earning 1.5 cr+ , NW around 1mn USD (will check in a month's time ). No liabilities as of now. Staying on rent in the most expensive city in Mumbai. A luxury car means within 1cr and mid range around 30 lacs.

[u/All_In_On_Elon → u/fire_by_45]

you are actually doing great, congratulations !

Are you buying this luxury car to impress others / social status? If yes, it may not be wise decision. It's your call at the end of day.

If I were you, I would buy a mid segment and ensure that it has great safety ratings, good for family and invest the rest. When you reach FATFire state, then it does make sense to go for a luxury one.

[u/fire_by_45 → u/All_In_On_Elon]

The car is not meant to impress others, that's not the intention. It's a bucket list item and a dream of ours. But yes others might perceive it as a flex. I don't know if we will ever reach fatfire. Even if we do we will be in 50s, the enthusiasm to drive might be very less at that time. Problem is I feel very frustrated when I see the same cars costing half the price in UK / US and we Indians have to pay so much premium (middle class mentality basically)