It depends what your priorities are. Look back at all the shyt you've bought over the years. How many of them have actually made you any happier or more fulfilled in life?
When I was like 25, I took a year off from work and just chilled and partied. I traveled, woke up at 2PM, played Call of Duty every day, went to the club, ate what I wanted, and had no one I had to be accountable to. I had freedom.
That year I took off is what made me realize I'd rather have the freedom to do that for the rest of my life, than a BMW 650. Do I still want that car? Absolutely...shyt I actually want an Aston Martin DB9 instead. But I'd rather have the freedom of waking up when I want, traveling where I want, and living life on my terms than driving a car that's going to force me to work for 5 years straight just to pay it off.
That's pretty much what happened to me, I got tired of working, sold my car and took almost 2 years off and traveled around the world in that time. The most liberating and best time of my life, the car that I had spent 3 years paying off took forever to sell, wasn't nearly as valuable anymore but at least powered my trips.
Going to sleep on a hammock @ 10am on a beach, waking up at 2pm and getting some coconut milk while my friends back home were slaving away to buy more "things". There are plenty of cars I can afford right now that I would love to own (Nissan GTR ) but they don't make your life appreciably better to be honest, and if I can't buy it with flat out cash I don't want it.