If you were making $44k to $48k a year, can a person afford a $36k car comfortably?

[sunsetcity]

opps

 

[championboyz7]

most people when they buy cars nowadays look at the monthly payment than the overall cost so if you can afford 500-600 going toward a note a month i say go for it.

Let's say he puts down $3k down payment @ 2-5% interest for 60 months. His note will be almost 600 a month

Now full coverage insurance, let's just say $200 depending on his driving history and age.

Now add another $200+ on gasoline. OP's paying $1000 a month for a damn car. All bad!

Stop it !





Buy the m3 OP. DO IT !

 

[decemberlove]

Dude wants a brand new sports car on a teacher's salary

My parents would skin me alive if i even considered something like that

 

[AZwildcats]

Hearing things like this is why I'm never surprised when I see people in financial struggle.

Use your brain.

 

[rrlegend]

also what you got now ? and what can you get for it ? how much you putting down and what is your living arrangement ? those also need to be answered 

 

[sorkoram]

You can if you push the loan to 72, but you'd need a low int rate. Much better through a credit union if possible. Problem you run into is maintenance and equity by the time you pay it off.

You're risking it heavily if you got under that loan, it'd be extremely hard for you to trade that vehicle if your earnings don't increase in that time period.

 

[spot]

depends if your leasing or buying as well

but i mean sure you can afford 1000 a month towards your car (payment insurance gas etc) so 12k a year

you make lets say 40k 28k lets say rent is 1k  so your left with 16k to survive on and thats being generous if your fine paying your car off for the next 3-5 or more years then go for it

 

[snaggykicks]

You should be able to push a $90,000 with that income.

lmao

 

[melo0115]

Isn't this the american way? Image over comfort?

 

[waitwut]

Afford a 36k car? Yes.

Comfortably? No.

this

why brand new you can still get something nice for 20-25k tbh

lower your budget OP

 

[DROMONTANA]

36k for Charger??? Rather go foreign but we all have different tastes...Anyways I know this idiot who landed a good job makin about 1700 on his check with overtime. He went and bought a Lexus LS430 cause he could and wanted to "stunt" even though hes 27 and living in moms basement. With car note and insurance his monthly car expense was about $900 A month. Son never had gas, and even stopped using premium and putting regular in.. he also ran out of gas and broke down. Thats not all though. He lost his job only working after 6 months and now hes in trouble...

 

[dipsetgeneral]

I would think so. Single, no kids. Yesh

 

[loskickking23]

Some of these people don't know.... You can !! Depends on where you live and the cost of living.. Also it depends on if you have a family with kids or not... I know because I did it but I have no kids.. And I did it comfortably and now the car is paid off with only 50'000 miles on it... The main thing is if you don't have kids .. If not , go for it .... As long as its something your going to keep and not pay off and trade in.. At that point it will be a dam waist

 

[ninjahood]

Get da older SRT8, spend less & get more power.

This ninja, man! Stay encouraging cats to buy horrible maintenance cars.

you smokin if you think a dodge is a "horrible maintenance cars"

this aint bimmers we talkin about.

 

[melo0115]

http://niketalk.com/t/532427/car-no...paying-bmws-off-in-73-months/90#post_17640119

Thought this might give you some info..

 

[dtothedtotheo]

you can afford it if you still live at home w/ parents and have no other expenses.

 

[hebgbz]

Cmon dude you playin yourself. Thats 80% of your salary. The hell lol

 

[bluedeniro]

yes you can

 

[jj watt]

 

[Betonblck]

You can lease one.

You are better off getting that 3 yr old one after the depreciation hit. That may be a viable option. You should look for something used with a max price of $20K

 

[jking0821]

Seriously OP 44k salary puts your bi monthly pay check at around $1350 or so depending on if you pay health care.

So you make around $2700 a month. If you assume car cost at $600 a month + insurance you are around $750 a month

What other bills do you have?

Cell Phone?
Rent?
Gas and Electric?
Water?
College Loans?

Are any of these bills going to be in the near future even if you don't pay them now?

I would say this is a dumb idea if you ask me. You can get a used car and have a payment of around $300 even after insurance. You can then use the extra $450 to buy your Louis change purse and your Yeezys and whatever else you want to "ball" with.

Rather have money in a busted wallet then a nice designer wallet with no money in it

 

[sreggie101]

Afford a 36k car? Yes.

Comfortably? No.

this.


i bought a 2012 wrx base model. for 28 out the door @ 3.99%. needed a reliable car, but wanted one that was manual, hatch, and awd. only affordable car in america sold like that is the wrx.

i have only a cell phone bill, and no student loans whatsoever to pay. this is my first job post grad, a little over a year in, and i live at home in nyc. i am comfortable making monthly payments on the car. if i really wanted to, i could pay off faster, but im not ready to make that move yet as im looking into changing jobs, saving for other things that may come up soon.

i make around 47K. an STI on that salary would be stupid. if i were you, id spend no more than 28 out the door like me. that would be the max imo. anything less def gives you a lot more breathing room financially.

 

[105950]

i make 70k 

i drive a 15k hyundai elantra

believe me, I know the temptation is strong but just ease off for now.  I made a similar thread not too long ago 

 and I listened to the NT gods

 

[swin429]

48k afford a 36k car? 

 

[rko2004]

Op, you can afford the car under certain circumstance. Of course the car cannot put you in a financial bind. You want to make sure you have some savings just in case of car problems or normal life issues.

Have a long term plan for yourself. Give yourself enough breathing room to pay your bills, give, save and invest.

Is your credit good enough to qualify for a low interest rate? If hour credit is good enough I recommend going to a bank or credit union of your choice. If you can get them to finance you at a good rate, you can save yourself a great deal of headache.

For example. The Charger RT (Also my fav) cost $36K. Your goal is to shave off that number. If you can save $3000+ you just cut the amount you need for financing down. Just because they have the price listed as $36k, doesn't mean you have to pay it. Dealers are itching to move units which makes it a buyers market. If you're walking in with your own money. That saves them a lot of time. You did most of the leg work for them and all they have to to is negotiate a good price. So I think they'll be more inclined to get something hammered out.

Personally I try to see if I could talk them down 5-10K. Don't know how well it will work but the oal is to pay as less as possible. Hit up truecar.com too.

http://www.chargerforumz.com/