Not trying to bash or start trouble, but you sound completely irresponsible with your money... I get the whole "you only live once" thing, but seriously. To drop that kind of money at that age is insane. You can't live in the car, it's not the easiest thing to get rid of when you need liquidity, and it sounds like you're just going to want to throw more money into it. I'm not much older than you myself, but the way to wealth isn't by spending it carelessly. You might have people "starting sh^t on facebook" with you about your cars or how they are faster than you now, but buying a fast car and throwing more money into it is only going to matter for another few years until you have to worry about real things in life, like paying a mortgage, buying diapers, and putting food on the table. Also, who says your job is going to be around next year, honestly you're not in an industry like IT or Healthcare that is pretty resilient compared to other industries. Do you have a degree? If not how about throwing some of that money into going to college for something worthwhile. (Again those past few sentences aren't saying your job is lesser than any other job out there.) But to be completely honest I just graduated college and I'm one of the maybe 15% of the kids I graduated with that have a job. I'm just suggesting you think about your future. I know it's not "cool" to think about real estate or financial portfolio's at your age but I think it would be much cooler when that $50k you're spending on a car today turns to double or triple in 10 years. I know a financial planner in your area if you come around to your senses PM me and I can give you his info. You can be a very wealthy guy if you play your cards right.
Just to give you an idea go play with this calculator.
http://www.moneychimp.com/calculator...calculator.htm
Anyway.... thats my rant and rave for you. Be smart with your money. No one said you have to die with it but you can also make the second half of your life much more leisurely than every other guy you know.