I know what you're thinking... this guy has got some nerve asking a question he probably already knows the answer to, but I thought I'd come on and get your $0.02 (2 cents) any way.
I'm 29, married, have no debt other than what I am taking on currently in grad school and will owe around $40k when all is said and done.
My wife and I have 2+ years of emergency fund/future down payment, max out the match on our 401(k)'s and both have a Roth IRA we also max each year. We save on average 30% of our net income each month and live below our means, but the one thing I love is getting out for a drive. I enjoy driving my new Beemer along the country roads of Virginia and quite honestly am excited each time I enter the vehicle.
Last year, we tried to make the "smart move" and purchase a Camry which was fine for the first couple of months, but it became more A to B versus the enjoyment I had prior to the Camry (another Beemer) and now.
So do you think I should get rid of the BMW?
Part of me doesn't want to, but part of me does. We could save $1,000 per month if you add up fuel costs, car insurance, payment, & amortize the property tax over 12 months.
We live in DC and I could utilize the metro train to/from work, but it would add an additional 30 minutes to my commute and would involve walking 3/4 mile to the metro stop, yuck
Thanks in advance for your thoughts/opinions!