A long time ago I bought my first car, a Kancil which was worth 2 times my annual salary. After adding HP interest of 7% for 7 years, it was 3 times my annual salary. That was the cheapest new car I could buy at that time without needing a guarantor. Having a car changed my family's life coz we never had our own transport before, it opened up possibilities for me in terms of where I could work. So it was worth it from that perspective.

But buying a 240k car when you make 240k per annum is just silly.

Nobody buys a RM240k Camry which is why you can hardly see any. That price range people get C klasse, 3 series, A4, S60 etc. 20k gross a month is only 14k net a month. Add fuel, maintenance, insurance, etc. half of your disposable income goes to your car. Not a smart move at all to spend that much for a depreciating asset unless you are going to be single all your life. Better to buy a home, find a life partner and buy a cheaper car for transport.

So, in IMO it is silly for most people. But its your money, you can do what you want with it.

Some people love cars and it is their only hobby, then go ahead and spend all of your money on it. Some people love hifi and buy speakers costing more than their cars. I believe people should always spend money on things that make them happy. For most people, a car is just a mode of transport, so spend just enough on it. Whether people bat an eye or not, don't bother about it coz they are not paying for your car loan.