How Much Car Can You Afford: $30K vs $75K vs $265K Supercar

This video, we go into the costs of ownership at 3 different price levels of cars. The variance between the 3 levels was very interesting to see side-by-side - especially for the Supercar category. There isn't much information online about Supercar ownership so I had to bring in a friend (Alex Buljan) who could personally vouch for his costs.

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WHO AM I?
Hello 👋 I’m Humphrey, I used to be a financial advisor, worked in gaming/tech, and started my own eCommerce business. I make practical, rational content on investing, personal finance, the news, and much more with a data-backed approach. My goal is to help you with financial literacy and creating wealth.

PS: I am no longer a current Financial Advisor, any investment commentary are my opinions only. Some of the links in this description are affiliate links that I do receive a commission for & they help support the channel!

⏱️ Timestamps:
0:00 - Start Here
0:22 - Cheap
5:15 - Luxury
10:06 - Supercar
18:45 - Stick Around

[humphrey]

Hopefully you enjoyed this video, thanks again to Alex for showing us his McLaren! Make sure to subscribe to the channel and let me know what your car is down below and how much it costs you!

[enonknives]

If you own a supercar, you have to factor in the likelihood of a backup car...probably a Camry.

[LauraN-doof]

2013 RAV4. Bought for 13k$ several years ago. It’s been paid off for awhile. I love not having a car payment. Working towards being totally debt free.

[purplehearts]

I am 25 and I just purchased my first car last week! 2009 Toyota for $4.5k cash. I am very happy with my purchase

[TonyRiley-qbsw]

Last year was tough, yet I earned $100, 000 pre-tax as the primary earner and household head. It's a solid start, but I'm focused on future enhancements. With two auto loans, I'm seeking solutions to offset them without resorting to costlier refinancing in the long term.

[dannyjames]

Recently bought some recommended stocks and now they are just penny stocks. There seems to be more negative portfolios in the last 3rd half of 2023 and first half of this year with markets tumbling, soaring inflation, and banks going out of business. My concern is how can the rapid interest-rate hike be of favor to a value investor, or is it better avoiding stocks for a while?

[isaacl]

It’s crazy the recommended salary to own the Camry is like 100k 😂 definitely people making way less are buying cars in the luxury category

[acastr]

Make over 100k. Drive a 2013 Ford Fusion. Love not having a car mortgage

[KeanuReevesIsMyJesus]

I bought my Lexus used at $14k with 60k miles 8 years ago and couldn’t be happier. You can still easily find a great used Lexus for under $20k and I highly recommend it. Over the years, I’ve had much less (and cheaper) issues than my friend’s brand new Mercedes.

[EytsirhcChristye]

I wouldn’t think of a Toyota Camry as cheap

[xiphoid]

You are doing it right. I drive a 2014 Mercedes E350 that I bought in 2016. Paid $40k cash for 2.5 yr old certified car with 24k miles and 12 month warranty (it's MSRP was $65k when new).

Used the dealership for maintenance until the warranty expired (using other mechanics before then might void your warranty). Been using regular mechanics for routine maintenance after that. Depreciation doesn’t matter as I'm going to drive it until it needs a more expensive repair than the car's worth.

This way, it's not much more than buying a brand new non-luxury car. This is the financially responsible way to do it.

[matwx]

Everyone should just say fuck it and use their entire net worth to buy the most expensive car they can afford with cash.

[amitabhstatton]

2012 Toyota Scion - live in a city, so don't drive a lot -- 1200 dollars a year approximately, all paid off. 40 years old, so low insurance, and not living in HCOL area. Easy to park and low maintenance.

[SKMD]

Great topic! Was looking for this content!

[gns]

That was a very straightforward, concise and classy way to approach the question - especially when you got to Alex's McClaren, which is definitely out of reach of most people.

[Tobbieslater]

I love your videos!!
Side note: 25 seconds in, you used the picture of a Corolla while talking about a Camry 😉

[kostyantynolenyuk]

Great content! Humphrey Yang best wishes!

[udslqbr]

Wow, great video Humphrey! Could you give us an update on your portfolio?

[chadrivoli]

Those of us who buy sensible cars and drive them forever can pay cash for supercar but we don’t. That’s also why we ‘can’ pay cash. Priorities…

[zacknelson]

If you cant afford a "super car" with cash then you cant afford to own it, since the repairs and everything is super expensive