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

[kdawg]

Can you? Yes.

Should you? Hell no.


If I were you I would spend something like $5k on something reliable, save for a year and then get something nice for about $15k - you can get something around 2 years old and in great condition.

You'll never regret that - but you probably would regret this.

 

[Top Boy]

Well, I'm looking for a job in my field of study and the jobs starting salaries are between $44k to $48k a year, so I am wondering can that be able to afford a $36k car? I plan on getting a brand new Dodge charger R/T max in a year or two, so I'm just curious. Thanks in advance..

 

[rko2004]

OP is this your first car?

And of course, the best option is to save up and just pay for everything out of pocket. No car note is the best note.

 

[ghenges]

You're going to finance it? Five year loan? Don't do it.

 

[kevlar shrimp]

This dude said he is LOOKING for a job. Get a job first.

 

[rko2004]

This dude said he is LOOKING for a job. Get a job first.

Oh damn OP get a job first and save some coin. Make sure you plan thoroughly!

 

[fdub]

Well, I am currently working, but it's obviously just a stepping stone job. I do live at home for now. I am 26 years old and I just graduated from college 2 weeks ago.. I currently have a 2007 Impala LT that I had since, 2010. I just paid it off back in march.. All my payments were on time... I never had a ticket, so my insurance is $117 a month. I don't plan on getting it right away, but I really don't want the hassle getting a used car.. Could trading it in and putting an additional down payment help lower the cost as well as negotiating? My next goal is to get my credit union to finance it..

 

[waitwut]

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

This dude said he is LOOKING for a job. Get a job first.

/thread



get the job save up to move out imo

any way you look at it it isnt a good idea to drop that much on a car

 

[mr marcus]

In the south you can because cost of living is cheap

 

[young thundercat]

Lawd i wish i didnt have a car note, OP just finished paying off a car now he wanna jump back into car payments...



smarten up kid.

 

[Top Boy]

Man you coppin a 36k car but still live at home at 26 years old?

Not even sure if srs anymore

 

[omgitswes]

Depends on how much you have saved up, and what your spending habits are.

I really think a personal finance class should be required for every student before they graduate.

 

[miniojw]

Well, I am currently working, but it's obviously just a stepping stone job. I do live at home for now. I am 26 years old and I just graduated from college 2 weeks ago.. I currently have a 2007 Impala LT that I had since, 2010. I just paid it off back in march.. All my payments were on time... I never had a ticket, so my insurance is $117 a month. I don't plan on getting it right away, but I really don't want the hassle getting a used car.. Could trading it in and putting an additional down payment help lower the cost as well as negotiating? My next goal is to get my credit union to finance it..

Drive your Impala till the wheels fall off. Man, what are you thinking. You got a '07. Save up and buy something more usefully for your life.

 

[keano]

i would save for more important things

 

[Trent Reznor]

If you have to ask this question on a message board, then no, you can't afford it.

Like said, drive that impala until it DIES and BANK as much money as you can. If you stay home for another year while working, you might have upwards in 20k saved up in a year.

Then this time next year we can be talking about the house you just bought rather than the car you bought thats gonna keep you in your parents house.

 

[mvp07]

This is an economical question and thus you have to look at it from economical perspective. The factors you should be looking at are expenses that are attributed to the type of life you wish to have,factoring in expenses, while also looking at your careers future stability ( raises/demotion =$).


Get a solid number of your Income after taxes, subtract anything from monthly expense to emergency/savings fund, then you will get an idea of where you stand. Base your decision from their on.

 

[bigtomgetsgwap]

My rule of thumb is only spend half your salary on your car

 

[fdub]

This is an economical question and thus you have to look at it from economical perspective. The factors you should be looking at are expenses that are attributed to the type of life you wish to have,factoring in expenses, while also looking at your careers future stability ( raises/demotion =$).


Get a solid number of your Income after taxes, subtract anything from monthly expense to emergency/savings fund, then you will get an idea of where you stand. Base your decision from their on.

Thanks, it was just a thought.. I don't plan on getting it anytime soon, but it was into speculation down the line..

 

[frshstunna]

OP I would either keep that 07 Impala, or buy a nice used car...doesnt have to be brand new, fully loaded to ride clean...

 

[venom lyrix]

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

Use your brain.

seriously

 

[rell826]

Man you coppin a 36k car but still live at home at 26 years old?

Not even sure if srs anymore

Easy to say when you don't know his situation. I do agree about a 36k car, but if he finances it properly and is going to ride it til the wheels fall off, what's the big deal? Stay out of his pockets. He might be able to get a nice trade in value on the Impala and put it toward the new whip.

I'd advise to stack your money, but you're going to do what you want to do. I'm glad that I can take a train into Jersey and Connecticut should it ever come to that.

 

[joepac12]

Stay in lane op.

 

[fdub]

Easy to say when you don't know his situation. I do agree about a 36k car, but if he finances it properly and is going to ride it til the wheels fall off, what's the big deal? Stay out of his pockets. He might be able to get a nice trade in value on the Impala and put it toward the new whip.

I'd advise to stack your money, but you're going to do what you want to do. I'm glad that I can take a train into Jersey and Connecticut should it ever come to that.

I did have it mind to get the Charger RT max used, but the miles got to be super low... I got my car with 54k miles, so I'm indeed looking into getting a used car (if I choose that route) with much lower miles then that.. Honestly, the way you guys are breaking it down, I'm probably going to wait it out.. Hopefully they will be enough used 2012-2013 dodge charger RT maxes with low miles out there

 

[freeze]

lease it. and yes.


but i don't know the state of your finances and or other expenses you currently have so it's hard to give viable advice.

 

[fdub]

lease it. and yes.


but i don't know the state of your finances and or other expenses you currently have so it's hard to give viable advice.

I paid off my car a d my credit card bill in full all this year Alone. The only dept I have coming up is my student loans in November..