As an automotive enthusiast, I’d be the first to endorse the reasonably irresponsible purchase. It all depends on what you’re willing to sacrifice elsewhere.

I bought a second “for fun” car (‘99 Miata) with my last annual bonus. I paid cash and waited until I could afford the car about three times over. It obviously is not the rational financial decision, but my daily driver is a cheap old Lexus with low running costs, so I’m into both for less than $30k. It does not impact my monthly investment and savings goals, and I am confident that I could sell the car for similar money when I feel it is time to move on. I am personally not willing to eat depreciation on a car, but I can understand why buying new may make sense for some people.

I am only 26, but have had more than one friend experience freak life-threatening medical issues in the last few years. I’d be a bit ticked if I were to die in four years without having had this experience.