Hiya
I came across a very interesting post by Mr Financial Samurai recently. (i love his blog) . While it may be US-centric, i thought it was very thought provoking...
It says the max amt one should spend on one's car(s) is 5% of your net worth.
Eg if your net worth is 1 million, you should spend max 50,000 on your car(s).
Based on this, i find i should give myself (or rather my hubby )a big boost
What is your situation? Care to share?
The maximum you should spend on your car, is what it takes to save you.
In 2012, I had a major car accident. Collision with one car at speeds of 100km/hr who ran a red(drunk, drugged guy) vs 60km/hr (me).
3 police cars, 3 ambulances, 2 fire brigades.
Every paramedic, police, fireman told me, if I had not been in a $75k 2010 German car, the outcome would be very different. The best case would be, I'd be a paraplegic for life, but I'd most likely be dead.
I walked way from his accident with a broken wrist only. I didn't even stay the night in the hospital.
Things like this don't happen to most people, and you're probably thinking it'll never happen to you. All I can say is, when it happens, it only takes 2 seconds to potentially change your life forever.