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Current Events > I make 50-90 g's a year. Would it be stupid to buy a 30 grand car?

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JTilly
10/14/20 11:32:59 PM
#1:


Ive been thinking about it for months. I want a fucking Dodge Charger. Its such a fucking sexy car... but can i justify that? I can buy a friggen $5,000 car and it could last a long time

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theiwantsong
10/14/20 11:34:36 PM
#2:


Sure you can justify it, but no one knows how much your other bills total to, or how much spending money you want, or how much the monthly bill will be for the car.
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JTilly
10/14/20 11:35:47 PM
#3:


theiwantsong posted...
Sure you can justify it, but no one knows how much your other bills total to, or how much spending money you want, or how much the monthly bill will be for the car.
Would you buy a dodge charger with that income.. I feel like im being fucking silly. Like maybe I should invest in a house instead

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MabusIncarnate
10/14/20 11:35:54 PM
#4:


If you do, get one preowned that's like a year or two old and under 30k miles on it. Don't buy a brand new car, it depreciates in value so fast.

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Joker98
10/14/20 11:36:00 PM
#5:


Buy a 3 year old one if anything.

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~~Every day I'm husseling and busseling~~
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Trumpo
10/14/20 11:38:03 PM
#6:


terrible idea
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JTilly
10/14/20 11:38:53 PM
#7:


Trumpo posted...
terrible idea
Money wise???? Right?

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WittleJimmyJimmyjumper
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ShineboxPhil
10/14/20 11:39:27 PM
#8:


If you afford it then buy it.
All cars are money sinks but if you manage to get one without it forcing you to adjust your lifestyle than no harm.

Look at options like buying/financing between new or used or leasing and see what makes sense.

I splurged and bought an acura ilx a-spec in 2019. I like the vehicle but looking at it now, i should have spent a bit more and got the bigger tlx.

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SevenTenths
10/14/20 11:40:01 PM
#9:


50-90k is a pretty absurd variance you need to ensure you aren't going to risk increasing your hardship if you end up at the low point.

Buying a sports/muscle car is never a good financial decision, but life isn't about just making the safest decision. If you can afford it and you'll enjoy it, have fun.

I had a ~20k car on around 70k with excessively large student loans and paying rent for myself. And it was never really a trouble.

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kinetika_
10/14/20 11:43:55 PM
#11:


$30K at 5.4% APR, 60 months, with a $5K down payment is about $525 a month.

Also, I prefer buying new. You're not saving much per month buying it the way people are advising you to. $50 a month less maybe? $50 is chump change.

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JimmyFraska
10/14/20 11:44:04 PM
#12:


Here's a link to my topic about my antique book collection. I could buy a whole bunch of them for 30 grand:
https://gamefaqs.gamespot.com/boards/400-current-events/79041103

As far as my opinion, this:

[LFAQs-redacted-quote]


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