100%. It would delay our retirement by at least a year. I'm hoping to keep our 2012 tow mule/garage queen going for another 10 years and revisit. By then I'll be within 5 years of retirement. If I pulled $90K out of savings (new XL Denali plus taxes) to buy one now, it would cost me a total of $177K when factoring in what I lost in investment income over 10 years, assuming I can maintain an average of 7% on investments in that time. Spending that kind of money on a depreciating asset makes absolutely no sense to me. Yet, we have lots of neighbors who have $150K+ in new vehicles sitting in their driveway right now. I can't figure it out.I am with you! I would love a new one but I cannot swallow down the better part of of owning a house for something that depreciates so rapidly! Good god, they are nice but damn, 6 figures for a fully dressed and tuned vehicle is just not justifiable in my world.
One of the things I'm imparting to our kids is how to keep an older car running reliably and bank the money they save.
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