I'm 48 and bought my Raptor when I was 47. I've owned lots of toys and nice trucks. This one is really just a sweet pickup that I use for my business.
All that aside, I recently went to an auction where an elderly man was selling all his stuff. He and his wife are moving to a retirement village. This guy had it all - Harley's, antiques, restored cars, tons of cool shop tools and equipment. He was just sitting in the garage watching all his hard earned things disappear at pennies on the dollar.
I stopped to talk to him after the sale, and he took my hand and asked me what I thought he should have done years ago? I didn't have an answer. He told me that if he had it to do all over again, he would have put every penny he spent on all his toys in the bank.
I don't necessarily agree with this line of thought. I feel a hard working person should be able to enjoy some of the money they work hard every day to earn. However, I lived very close to the cuff for a lot of years to insure that my 3 kids had what they needed to be happy kids. Once they started leaving the house, I began to buy some things for me.
I didn't have a lot of college loans when I got out on my own, but it sounds like your loans are a lot my kids - they deserve to be taken care of before you start getting toys for yourself.
If you do it this way, then you won't need to worry about a 'rainy day' situation causing you to have to give up what you worked so hard to get in the first place. It's never happened to me but I can't comprehend the disappointment someone would feel by seeing their vehicle towed off by some repo company.
Whatever decision you make, sit down and make an honest budget. When I say honest, look on the bleak side and anticipate the worst case scenarios. That way you are prepared for them if they happen. If the bottom line shows you can still put money in the bank and pay for some toys along with your everyday expenses, then go for it!!! Otherwise, be patient and enjoy the ride. When you finally do get your first big toy, it will mean that much more to you.
Good luck with your decision........