How much money should one make to justify a $20-30,000 car purchase?I make $114,000 a year and I'm questioning spending $25K to replace my current car that's falling apart.
>>28199602The only justifiable car purchase in current year is a 2001 Toyota Corolla in Champagne gold.
>>28199607well I have a blue 410,000 mile 2001 Corolla and it's about to fall apart.I can't even go on dates with that car, I have to borrow a car from a friend.
>>28199602>$114,000 a yearJob? If you don't mind me doxing you?
>>28199630Why not upgrade to an 03 corolla with 250k miles?
>>28199659union Aerospace + side gigs>>28199664I want to get married.and girls in my age range tend to ask when I drive on dates.
>>28199669just drive a super duty like everyone you beautiful bastard
Must suck not being able to budget. I only make 60k a year and my car + truck ran 75k. Of course I don't live in California either so I don't pay 5k for an apartment
>>28199669if you want a quick fuck you buy something that just looks expensiveif you want a girl that'll stick by you through thick and thin, hell and high water, you keep whatever you're drivingeven better if it's a manual so it can be push started, lets you litmus test; if she sticks with you after she has to help you push start the car she's a keeper
>>28199602
>>28199602Get what you wantI'd go used, cue typical 3800/panther/ls400For new I'd stay away under any circumstanceNo reason to piss away money for a car with less options, lower reliability, less visibility, and a 6 month backorder for parts
>>28199693>200k+>accordOh fuck we're cooked
>>28199602I think the real question is how retarded you have to be to consider spending $20-30,000 on a Mustang.
>>28199602I make close to 200k TC (tech industry) and I drive a early 2000s honda I bought for 5k, and I still feel like I'm a homosexual
>>28199602So it sounds like you're not really a car enthusiast since you're asking that kind of question. Get a cheap used econobox or refer to >>28199693
>>28199747The S is on the wrong side, that's why.
>>28199602Dude, I knew a 21 year old kid that got a '22 Q60 A year ago that had an $800 monthly car payment and quit the job where I work because he "Felt pressured" and management was "too strict". He also had a kid on the way.Dude just called last week trying to get the job back and he lost his car.Be smart with your financial decisions.
>>28199693>>28199602What the fuck do you guys do with the rest of your money? I make 90k a year and I'm running out of tax sheltered accounts to save it in.
>>28199602if you can pay cash, the total value of your vehicles shouldn't exceed 25% of your annual income.go fot it.
>>28199602I make ~500K/year and just bought a new Egoboost for $27Ki have no ragretz
>>28199878Mortgage is $7k/mo
>>28199602If you're not in a salt state buy a new fwd econobox. If you are buy a southern beater.
>>28199602Income is irrelevant. If you seriously can't fit a 48-month payment for a $20K car into your budget, you need to do a self-audit and get your spending in order.>but muh depreciating assetYes, that's what cars are, and you deal with it. You either live with your shitbox and accept its drawbacks, or pack sandwiches instead of going out for lunch every day so you feel less guilt when you make your payments on a car that's genuinely nice and improves your quality of life.
i dont even have a job and mine was $40k.
>>28199602That's more of a personal question and we know nothing else of your finances, dude. Don't know your age, debts, money saved for retirement, goal retirement age, other assets, your cost of living, etc.. 25k for a car you use for a long time doesn't sound bad on its own, but we don't have enough information
I'm not interested in giving sound financial advice. Buy the hottest, fastest sports car you're approved for and can fit into your budget.You wanna save money? Go on Craigslist and suck dick for bus fare. Now that everyone is 30+ on /o/ it's all "check out my bad model compact crossover, it's stylish, roomy, and the wife loves it!"
>>28199602There's almost no reason to spend more than $10k on a car unless it's something FAST, rare, or its experience can't be replaced with a different and cheaper car.Just get an E24 635CSi, E30 325i with a huge turbo, E31 850i, E38 750i, E39 530i, E92 M3 Competition or 335i, F10 M5 Competition, 1750 GT Am, Delta Integrale, W124, R129, W140, or W201 already goddamn
>>28199985I can buy up to a $70,000 car in cash right nowbut I'm not going too.$25K seems like way too much, but I wanted more opinions.>>28200039I have about $3,000 a month free flow cash.want a comfy daily.gonna see if I can fit into a GS350 or similar >>28200086been seeing this Pasta a lot recently.
>>28200092It isn't "pasta," to use the parlance of our times.And I had a gs350 fsport; the E39 is better.
>>28199602Just buy what you can afford with cash
>>28199602>I make $114,000 a yearSo 60k after (((taxes))) and 37k after (((rent))) and now you want to buy a 25k car plus (((interest)))? Will you have enough for has and groceries?
just go lease a Corolla op
>>28199693>6-10 year old shitboxes are considered bottom of the barrelMeanwhile me with 19 year old shitbox as a third owner...
>>28199878Start investing in non-tax sheltered accounts. Paying capital gains is still better than missing out on 10% return a year
>>28199602You should have at lease $250k in cash and an income of above $300k and a net worth of above $3m to make such a purchase.
>>28199699It's even worse than that because it's >IncomeAnd not >Net worthYou can't afford an Accord at that level either desu. Ramsey is right the true metric is max 10% of your net worth or you've got too much car.
Income only matters if you're going to finance your car. Financing a car is retarded. You want a $30k car? Save $30k and buy it in cash. That simple. Whether you make $50k a year or $500k a year, you can afford a $30k car if you have $30k in your bank account.
>>28200550paying cash for a car is retarded. op used a mustang in the op so i'm going to use it as an example but obviously this next part varies from car to car.a 30k mustang premium purchased brand new in 2019 is worth 20k right now. 30k in 2019 adjusted for inflation is 37k. you lost 17k paying cash.the same car financed with 0 down after interest is 34k, adjusted for inflation is 41.5, or 4.5k in interest. so you lose 21.5k.meanwhile that 30k cash you didn't put down on the car went into stonks and it returned 13k, meaning you drove the same car for the same amount of time and it only cost you 8.5k, meaning you saved 8.5k dollars by financing. by paying cash you flushed over 8000 bucks straight down the drain.
>>28199602>How much money should one make to justify a $20-30,000 car purchase?it's almost never justified. Cars are devaluating assets also the more they cost the more you are going to pay in insurance and maintenance. The best financial option is usually a used 3-5y/o car with a price of 8-12k and less than 100k miles, with the possibility of spending a little bit more if you need certain features (obvoisly check with a mechanic).IF you want a nice car then you just need to pay full in cash and have everything in order (decent passive income, 1 year of emergency, if no passive income then a property of your own, taxes set aside, etc... and the car should cost no more than 6 month of revenue)you can also just yolo and buy whatever on a lease but this will hurt your financial position in case of a recession. worth adding that woman just want your car to be clean, not about to fall appart and not give murderer vibes
>>28199602I make $580k in tech and i wouldn't spend more than 50k on a car so i guess 200-250k income for your purchase.
>>28199602I make 50 billion a year and I wouldn't spend more than $7.50 on one of those little rubber band cars you pull back and then it drives forwards a little bit. You would need to have more money than exists on earth to buy a non running 2005 Honda Civic
i am payed $800/hour and i would not spend more than 3 hours pay on a vehicle.
Buy a used hearse, paint flames on the side
>>28200634You can tell the bitches they won't be the deadest fish that's laid in the back
>>28199607Based
>>28199669Aerospace plus bitch work only nets you slightly into 6 figures?
>>28199607>2001 Toyota Corolla in Champagne gold.As a jew earning $18000/week from my immigration law practice, i can endorse this.
>>28199602Yo dawg i make 2 grand a month in government checks and i say spend 50k on that shit man and another 15k for rims
Is it really that difficult for normoids to save up $20k? You don't need to worry about muh car payment per income nonsense if you just buy the whole damn car.
20% of your yearly income with a 3 year loan. Maybe 4. Preferrably with interest under 5%
>>28200584>a used 3-5y/o car with a price of 8-12k and less than 100k milesmfw 8-12k is 20 year old shitbox territory around hereI HATE THE PNWI HATE THE PNWI HATE THE PNWI HATE THE PNW
>>28199950is it really so cheep there?!? its minimum 70k euro here
>>28200934$12k can get you such a clean E39 or E92
i make a milion a day and i ride a horse to work
>>28201221actually i work from home and made salami from the horse
>>28199693I bought a brand new (at the time) 2019 Civic hatchback sport 6mt, making 45k/yr. Eat shit :)
>>28201274>fag wheel drive>hatchback
>>28201276>retard>bus rider
>>28201277>fagwheeldrivelet>boyrider
>>28199607blue
$25k is fine.even 50k is fine.what matters more, is how long you plan to keep it.its idiots who update every few years who are financially irresponsible.
>>28200934ah, fellow PNW fag.you taking your Vitamin D?>>28201218stop recommending maintenance whore BMWs.
>>28199602Question how old are you and does having a higher income really make a difference???
>>28200092Dont bother used market is broken unless you want something specific.25k gives you the choice of like three vehicles. Nissan Vega, Chevy Traxx, Kia Soul, and Mazda 3.If you want absolute bang for your buck get a Chevy Silverado WT at 43K Hell can even find 2500s at that price if ya shop.If you want to impress women get above and lift kit and wrap.Average new vehicle price is 44k now so stop living under a rock.
>>28200582The money saved not having replacement insurance more than out does any "interest" earned.>>28200584Nigga needs to check his numbers, and doesn't live in the rust belt.
>>282015445.3 Crew Cab Standard bed.Can get 2.7 Double Shorts for 39k
>>28201558
>>28201544>shit advice >reddit spacing checks out.>inb4 it's not reddit spacing it is, anons here don't space sentences that are part of the same thought.
>>28201207usually around 33gay but i'm a hardKKKore negosturbator (jew)
>makes low sixfigures>has 70k in cash>"durr how do i buy a 30k shitbox
>>28199602You're a fucking adult. Just examine your budget, savings, and financial goals to determine how much you can and are comfortable spending on a vehicle. It's that easy. Asking randos on a bus seat appreciation forum is completely retarded. Don't be retarded.
>>28199630Falling apart in what way, I know Toyota interiors are shit, my 350k mile 2008 civic is mint minus some scrapes from some hit n runs
>>28199669You're underpaid. I answer telephones at the VA hospital in Pennsylvania and cleared $65k last year. I literally spend 8 hours a night either coding or playing video games.
