This is a question only you and your tax accountant can answer. There are definite good reasons to spend a quarter of a million dollars on a car, and definite bad ones.
Most people who would consider this kind of purchase aren’t in a position to have to deal with the bad ones, but it never hurts to check with your accountant before you commit to a major investment.
The better reasons to spend this much money on a car include the investment potential of getting one below market, restoring it, and reselling it.
This is basically what I do with my cars, rotating a collection of about five active vehicles at any time. In my case, I’m lucky enough to buy low and also sell below market. This means I get to help people who otherwise couldn’t afford a luxury sports car to have one. This is a reward to me that is greater than cash could ever be.
Another good reason to spend significant capital on a car is that, much like a boat, the car is a hobby that keeps giving you reasons to spend.
Do more, go faster, look cooler – and pay for all of it.
This is not a poor man’s hobby, or a rich man’s folly. The car is going to become a major part of your life, so considering its needs before you go in is admirable. Determining if you have time to care for your pet car is also important before you buy.
If you have the money and want the car, I would say go for it. But still shop around and make sure you are getting a good solid deal.