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re: Is buying a $24k car on $50k salary dumb?

Posted on 3/11/15 at 11:30 am to
Posted by STLhog
Nashville, TN
Member since Jan 2015
17718 posts
Posted on 3/11/15 at 11:30 am to
quote:

make sense.


Varying opinions on that definition.

Can he afford it purely numerically? Probably.

Does it make sense? As this thread has shown, that is debatable.
Posted by hungryone
river parishes
Member since Sep 2010
11987 posts
Posted on 3/11/15 at 11:42 am to
quote:

any of the other gay vehicle reccomendations that have been given.

Wow...homophobe much? Sure hope OP is not an actual LSU alum, 'cause that thought depresses the hell of of this alum. Hadn't realized this word as slur was still used anywhere outside of 7th grade boys' PE classes.

ETA: and now, as a result of this thread, I have Big Tymers' "Still Fly" stuck in my head. "Gotta quarter tank of gas in my new E-class, but that's okay, I'm gon' ride...." LINK
This post was edited on 3/11/15 at 11:44 am
Posted by BeerMoney
Baton Rouge
Member since Jul 2012
8375 posts
Posted on 3/11/15 at 11:51 am to
Depends on what's important to you and what your 5 year plan is. When I was in my early 20's I had a $60k salary and a $30k vehicle. Now I'm married with kids have a far larger salary and both my personal vehicles combined aren't worth $15k. All the money goes in the family now.

If you're planning on starting a family anytime soon or have a family I wouldn't do it. If you're single and just looking to hook as much poontang as possible then sure buy expensive cars.
Posted by TheIndulger
Member since Sep 2011
19239 posts
Posted on 3/11/15 at 11:58 am to
quote:

"Gotta quarter tank of gas in my new E-class, but that's okay, I'm gon' ride....




Alright guys lets just let him act like a baller in his audi on a 50k salary. If that's what he values then no problem. This should've been on the OT.
Posted by dj30
New Orleans
Member since Feb 2006
28725 posts
Posted on 3/11/15 at 12:12 pm to
I'm just saying, who wants to finance a car they dont like. There is no fun driving a Toyota camry, it definitely doesn't give you any extra play with the ladies.
Posted by Epic Cajun
Lafayette, LA
Member since Feb 2013
32473 posts
Posted on 3/11/15 at 12:14 pm to
I'd really like to know the personal lives of the posters who always suggest buying a used car and driving it into the ground and that it's stupid to buy anything new; rather than buying something that someone may like. Do they not have any hobbies that cost money? Do they buy all of their clothes from thrift stores? Do they live in a "tiny house"? People have different priorities, I guess some don't realize this.

They are either hypocrites or have the most boring lives ever.
Posted by lynxcat
Member since Jan 2008
24151 posts
Posted on 3/11/15 at 12:55 pm to
Epic hit the nail on the head. There are things in life that bring enjoyment that outweighs the financial impact. For some it may be a cheap hobby like nice coffee but for others it may be expensive like new cars. One is not right or wrong and it is all about balance and life fulfillment.

I am very cautious financially and I just bought a nice car because I enjoy it and I spend a lot of time in it. When the note hits, I don't love seeing it but it has not changed my lifestyle one bit.

To me, this is the key question: Can you afford X without sacrificing long-term planning or it causing issues on other necessary expenses?

If so, then go for it.
Posted by LNCHBOX
70448
Member since Jun 2009
84118 posts
Posted on 3/11/15 at 1:28 pm to
quote:

I'd really like to know the personal lives of the posters who always suggest buying a used car and driving it into the ground and that it's stupid to buy anything new; rather than buying something that someone may like. Do they not have any hobbies that cost money? Do they buy all of their clothes from thrift stores? Do they live in a "tiny house"? People have different priorities, I guess some don't realize this.

They are either hypocrites or have the most boring lives ever.



A million times this. People on here are so full of it. Most of the people suggesting Accord and Camrys probably don't even drive those cars themselves.

And even if they do, I'd bet 99% of them have a hobby that they make less than financially prudent expenditures on. I'm honestly amazed people still bring car questions to this board.
Posted by Sigma
Fairhope, AL
Member since Dec 2005
3643 posts
Posted on 3/11/15 at 1:41 pm to
True, to a point. A lot of people posting in this thread, though, see saving as a kind of hobby of sorts. It's what we enjoy "spending" our extra money on.
Posted by LNCHBOX
70448
Member since Jun 2009
84118 posts
Posted on 3/11/15 at 1:42 pm to
quote:

A lot of people posting in this thread, though, see saving as a kind of hobby of sorts. It's what we enjoy "spending" our extra money on.


So yall spend no money besides essential purchases? I'm going to go ahead and say that is an extreme minority of the people here.
Posted by Sigma
Fairhope, AL
Member since Dec 2005
3643 posts
Posted on 3/11/15 at 1:48 pm to
Not all of it. I think it has more to do with financial comfort levels, present and perceived future.

For example, I would rather spend $10k on my next car and increase my 401k contribution by 2% than buy a $30k car and make no increase.
Posted by hungryone
river parishes
Member since Sep 2010
11987 posts
Posted on 3/11/15 at 1:48 pm to
quote:

So yall spend no money besides essential purchases?

No, I'd wager that most posters here spend plenty of money on all sorts of discretionary toys. But your sample--a group of people hanging around a Money Talk board--is going to skew toward the savers, scrimpers, and the thrifty. I also think that most of the regular posters here are older, more established, and can bring their own past decisions to bear on the matter at hand (which was spending the equivalent of 1/2 annual wages on a 5 year old used car).

OP wants a car, he should buy a car. But if he was confident in the soundness of his purchase, he wouldn't be second guessing himself and posting a query on a messageboard.
Posted by Eric Nies Grind Time
Atlanta GA - ITP
Member since Sep 2012
24936 posts
Posted on 3/11/15 at 1:51 pm to
Honestly if I lived somewhere that I could actually enjoy a sports car I would buy one.

But I live in a large city where I am stuck in traffic for most of the commute. Kind of pointless. So I drive an old Accord and put the car money towards other things.
Posted by BeerMoney
Baton Rouge
Member since Jul 2012
8375 posts
Posted on 3/11/15 at 1:55 pm to
That's actually a pretty good point. Although I am one of those buy used and drive it in to the ground people I do have some expensive hobbies. I guess it's all about where you want to spend your luxury dollars. In this guys case he wants to spend it on a car.
Posted by SanFranTiger
Dallas, TX
Member since Sep 2003
4897 posts
Posted on 3/11/15 at 1:56 pm to
If you date a girl who only dates guys with nice cars...dump her.

She'll cost you a lot more later
Posted by hungryone
river parishes
Member since Sep 2010
11987 posts
Posted on 3/11/15 at 2:00 pm to
quote:

If you date a girl who only dates guys with nice cars...dump her.

She'll cost you a lot more later

And the corollary to this: if you date a dude whose car is worth half of his annual income and doesn't have retirement savings or an emergency fund, ditch him. Fast forward to later life: you'll work like a dog to pile up retirement savings & kids' college funds while his cash goes to support his penis-envy car habit.
Posted by LSUAfro
Baton Rouge
Member since Aug 2005
12775 posts
Posted on 3/11/15 at 2:04 pm to
quote:

True, to a point. A lot of people posting in this thread, though, see saving as a kind of hobby of sorts. It's what we enjoy "spending" our extra money on.

Dang.... WTF are you saving every penny for? . The "golden years" when you're 65 so you can go hobble around the grand canyon or Niagra Falls and talk about the good ol' days?
Posted by GenesChin
The Promise Land
Member since Feb 2012
37706 posts
Posted on 3/11/15 at 2:05 pm to
quote:

People on here are so full of it. Most of the people suggesting Accord and Camrys probably don't even drive those cars themselves.


I suggested it but mostly because the gap between luxury car and affordable mid size is getting extremely small. The high expectations of standard tech in a car is to the point that accent pieces are the main upgrades. The drive of a car too isn't significantly different as you are seeing a lot of juice being pumped from stock 4 cylinders and the 6cyl being even better.



In today's world, a stock luxury vehicle isn't so much different from a nice midsize car with a package or two thrown on. Only real difference is the logo
Posted by dj30
New Orleans
Member since Feb 2006
28725 posts
Posted on 3/11/15 at 2:05 pm to
quote:

If you date a girl who only dates guys with nice cars...dump her.

She'll cost you a lot more later



Marry, yes. Date, No.

Posted by Sigma
Fairhope, AL
Member since Dec 2005
3643 posts
Posted on 3/11/15 at 2:06 pm to
To make that 65 a 55.
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