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Started By
Message
re: Jeremy Hill new ride
Posted on 6/23/14 at 9:02 pm to Mshargois3
Posted on 6/23/14 at 9:02 pm to Mshargois3
it's completely not uncommon to hear of a relatively new college grad earning, say, 50K a year, to buy a 25K car and finance it to pay for it over 5 years. Whether or not this is considered to be wise is besides point of my comment here. these kinds of younger adults assume they will still have a job in 3 years (or if they lose job, would be simple enough to quickly find another).
glimpsing over other responses here, it seems Mr. Hill will be earning $1,000,000 per year average over next 4 years (??).
if this is in fact the case, simple proportion suggest to match a boilerplate college grad, Mr. Hill would be buying a 500K car.
Given the purchase is a maserati priced at maybe 1/5th of that, its hard to fault him for being irresponsible.
the problem as I see it isnt that he bought a luxury car, its more that he is setting a standard in his quality of life that isnt realistic to expect throughout his life... yet.
if he is injured or doesnt perform well before a second, larger contract - this may be the last extremely nice car he ever has (at the young age of 22ish).
of course, he could have short lived NFL career and still go on to be enormously wealthy businessman.
point being, so what if the kid wants a luxury car.
glimpsing over other responses here, it seems Mr. Hill will be earning $1,000,000 per year average over next 4 years (??).
if this is in fact the case, simple proportion suggest to match a boilerplate college grad, Mr. Hill would be buying a 500K car.
Given the purchase is a maserati priced at maybe 1/5th of that, its hard to fault him for being irresponsible.
the problem as I see it isnt that he bought a luxury car, its more that he is setting a standard in his quality of life that isnt realistic to expect throughout his life... yet.
if he is injured or doesnt perform well before a second, larger contract - this may be the last extremely nice car he ever has (at the young age of 22ish).
of course, he could have short lived NFL career and still go on to be enormously wealthy businessman.
point being, so what if the kid wants a luxury car.
Posted on 6/23/14 at 9:04 pm to jose canseco
quote:
Wut? People buy $30,000 cars all the time that make less than 6 figures and seem to make it work.
Those people have no money if/when they lose their job.
Posted on 6/23/14 at 9:06 pm to gerkin
quote:
it's completely not uncommon to hear of a relatively new college grad earning, say, 50K a year, to buy a 25K car and finance it to pay for it over 5 years. Whether or not this is considered to be wise is besides point of my comment here. these kinds of younger adults assume they will still have a job in 3 years (or if they lose job, would be simple enough to quickly find another).
Here's a common theme you will find among recent college grads.
The ones with new cars dont have student loans.
The ones with older cars are paying their car payment on student loans.
Posted on 6/23/14 at 9:06 pm to PhiTiger1764
quote:
People with steady jobs and 40 year careers.
No they don't. Most people a couple of years out of college, lease 100k-250k houses, 30k+ cars, and don't know if they'll be laid off in the next year or two.
r year career my arse. You never know what will happen. You could be safe today, and fricked tomorrow.
Posted on 6/23/14 at 9:09 pm to moneyg
I bet a lot of the people b*tching/hating never knew had to struggle and don't know what the struggle is.
Some kids dream of being able to buy what they want. You do what you want with your money and let him live his dream.
He put his health on the line for you entertainment. He earned it. Do you.
Some kids dream of being able to buy what they want. You do what you want with your money and let him live his dream.
He put his health on the line for you entertainment. He earned it. Do you.
Posted on 6/23/14 at 9:11 pm to tiger perry
quote:
Yes there is a lot of truth about athletes going bankrupt because of purchases like this. Hope JH is not one of the extended list
After several purchases like this don't you mean? I just hope my boy keeps his head on straight, and dominates the league of course.
Posted on 6/23/14 at 9:12 pm to thunderbird1100
quote:
The ones with older cars are paying their car payment on student loans.
Wrong, Graduated in 08 with 0 debt and still driving my college truck. Will probably drive it until the fricker falls apart.
Posted on 6/23/14 at 9:13 pm to moneyg
quote:
Those people have no money if/when they lose their job
are you serious? You can easily finance a $30,000 car for less than $500 a month. And a $60,000 a year job should have no problem with that payment over a few years.
Posted on 6/23/14 at 9:14 pm to LuzianaFootball
quote:
He put his health on the line for you entertainment. He earned it. Do you.
I don't care if he plays football or not. So don't act like he is doing me a big favor.
Posted on 6/23/14 at 9:15 pm to TigerNlc
quote:
Wrong, Graduated in 08 with 0 debt and still driving my college truck. Will probably drive it until the fricker falls apart.
Let me know when things pick up for you
Posted on 6/23/14 at 9:17 pm to thunderbird1100
I'm doing fine I have a brand new house and been saving my money.
This post was edited on 6/23/14 at 9:27 pm
Posted on 6/23/14 at 9:18 pm to TigerNlc
Did you get your truck in college?
Posted on 6/23/14 at 9:19 pm to TigerNlc
So it's still pretty new then
Posted on 6/23/14 at 9:20 pm to thunderbird1100
It wasn't new when I got it.
Posted on 6/23/14 at 9:21 pm to TigerNlc
It it cant beat an '02 with 200k+ miles on I dont wanna hear it
Posted on 6/23/14 at 9:21 pm to thunderbird1100
Not as many miles but older
Posted on 6/23/14 at 9:22 pm to Dr. Shultz
quote:
Will make about 4 mill over 4 years. Spends 200k+ on a car. Aint no thang partna
Takes about $350k to net $200k. Almost 10% of contract on a car? That's a bunch...
Posted on 6/23/14 at 9:24 pm to TigerNlc
I do love my Acura RL but it's starting to become a money pit, need new steering column and it's time for a timing belt change. Finally going to get my first "new" car since 2007 which will probably be a BMW 740iL, 750Li, Chrysler 300C SRT-8 or Mercedes Benz S55 AMG
Posted on 6/23/14 at 9:24 pm to doya2
quote:
Takes about $350k to net $200k. Almost 10% of contract on a car? That's a bunch...
quote:
Takes about $350k to net $200k. Almost 10% of contract on a car? That's a bunch...
It's a $140k car
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