i think i started this topic before long long time before, but i'm lazy to dig it up.
i think for me, i would probably spend $40K max even if i am rich like bill gates. i think i'll more likely just buy a 2nd hand car for my kids. i think it's probably due to the family i'm raised in. i simply think kids need to learn how hard it is to earn money, and i think simply handing them an expensive car without them earning for it makes kids think making money is easy.
i think this way after i saw many of my friends went through the brutal recruiting process of trying to land a $75K job. after my friends went through went through several rounds of interview, almost all were rejected. so, a $75K job is obviously a top job in canada, but after deducting just income tax, you will be left with ~$56K, or just $4700 per month. that will be signficantly reduced even further if you add housing expense, food expense, etc. in. can you really afford a $50K or $60K car even with a top job?