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Forum ยป I make $70k/yr, can I afford any of these cars? [srs thread][10k+ for advice]
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Thread: I make $70k/yr, can I afford any of these cars? [srs thread][10k+ for advice]

post 1442348851 05-15-2016, 08:45 PM
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Glad there's a miscer with actual brains and not buying a car that's their entire salary.
Those are some decent picks, I wouldn't deal with any luxury brands (older models), because of maintenance/repair/higher octane gas. I'd look into seeing what warranty is covered on each vehicle, the reviews to see if there's any common issues with that particular model year & see which holds the best depreciation.
post 1442349241 05-15-2016, 08:47 PM
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Originally Posted By CurlBrah1234⏩
Gross. Obviously a lot of people will spend much more on a vehicle. But from a pure financial investment standpoint, 30% is about as high as anyone should go for a depreciating asset.
wasnt 30% rule for the rent?

30% seems high as fuk for a car bro.
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post 1442349481 05-15-2016, 08:48 PM
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post 1442349561 05-15-2016, 08:49 PM
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There's a car salesman on here that can direct you to the best car for your buck OP.
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post 1442349611 05-15-2016, 08:49 PM
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According to the misc, you can't afford any car, unless your salary is at least 500x the price of the car and you pay for it in cash, so no. You can't afford any of those cars. you are going to have to have to take the bus, until you get to a 6 figure salary. Then you can buy a used volkswagon that was made in the 1970s
post 1442349621 05-15-2016, 08:49 PM
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Originally Posted By Blakliffy⏩
I just got the 16' 4wd supercrew xlt.

fkn love it.

feel like a king among peasants when i drive around.

so i say, f150
How much do you gross if you dont mind me asking?
Originally Posted By CurlBrah1234⏩
Rule of thumb is: Never spend more than 30% of your before tax income on a vehicle.

0.30 * 70,000 = 21,000


Any of those choices are within reason financially

So your fine bro. I'm impressed, this is the first thread where a miscer actually isn't trying to 'ball out' by buying a 2016 3 series they can't afford

edit: Nissan would be the 'smart' choice. But the 5 series would be hnng. All depends on how stable your income is and expected pay raises in the next few years.


edit edit: but why such a low savings? I make 25k a year and have near just as much srs
I spend a nice chunk of my savings on some vacations last year. Was in a yolo state of mind (was worth it to me though)
Originally Posted By Tears⏩
wtf kind of stupid thread is this? You don't know if you can afford something 1/3rd of your income with 600 rent and no debt?

Are you ****ing retarded, op?
I don't know why people like you bother posting. You are not contributing to the thread in any way.
post 1442350241 05-15-2016, 08:53 PM
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Originally Posted By Krunk
Have to agree with this. OP you have no debt and make $70k a year. After rent/utilities, you have like $3,000 cash a month that is disposable. Also questioning if you have no debts or what the fuk you spend your money on if you've only saved $10k with only $600 in rent.
I'm just very reluctant before I make a big purchase and want to make the right decision here. And I spend some of my savings on some vacations last year. I graduated 2 yrs ago so I am relatively new to my industry and was making chit money while I was going to college. In the next years I plan to grow my savings a lot more.
post 1442350451 05-15-2016, 08:54 PM
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Originally Posted By mrcarter1990⏩
wasnt 30% rule for the rent?

30% seems high as fuk for a car bro.
I think it might be close to 25, but considering most people go upwards of 50%, 30 seems reasonable.

.30 * 70,000 = 21,000

5 year payments = 60 months
21,000/60 = 350 cost per month (Could be closer to 500 after interest)

70k gross = 5,800 per month, so probably comes out to about 4,000 - 4,500 per month take home?


so about $500 per month out of $4,500 seems reasonable to me
espeically if OP has low rent/mortage, should be easy to pay off
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post 1442351211 05-15-2016, 08:59 PM
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Hmm. I would appear that the links tell me how far away you are from the dealerships. If I was some sort of map-wizard I could probably figure out where you are.
post 1442351321 05-15-2016, 09:00 PM
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You can easily afford those.

That being said eventually driving a nice car just becomes driving a car. You really are better off just getting a reliable 2010 Car for 10k ish and putting the other 10k or so towards a house.
post 1442351411 05-15-2016, 09:00 PM
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Originally Posted By Rojoh⏩
Hmm. I would appear that the links tell me how far away you are from the dealerships. If I was some sort of map-wizard I could probably figure out where you are.
Come at me bro
post 1442351691 05-15-2016, 09:02 PM
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4300-4500/month after taxes

look to pay $400-450/month in payments at most, like 10% of your monthly income.

you can afford any in your list, easily
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post 1442352391 05-15-2016, 09:06 PM
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Originally Posted By Austanian⏩
You can easily afford those.

That being said eventually driving a nice car just becomes driving a car. You really are better off just getting a reliable 2010 Car for 10k ish and putting the other 10k or so towards a house.
Originally Posted By Zerafian⏩
4300-4500/month after taxes

look to pay $400-450/month in payments at most, like 10% of your monthly income.

you can afford any in your list, easily
Thanks brahs. Looking for something in the 10-15k range though a lot of good cars around that price range.
post 1442352671 05-15-2016, 09:07 PM
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Originally Posted By nn586⏩
I'd be financing. Currently looking at cars around $10,000 now. What's are some good options?
What you're considering is pretty spot on tbh. Reliable, lower miles, already taken the initial value hit when the guy before you drove it off the lot.

I personally wouldn't buy an ecoboost but that's just me. And I think Chargers are overpriced
post 1442352861 05-15-2016, 09:09 PM
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Originally Posted By mrcarter1990⏩
wasnt 30% rule for the rent?

30% seems high as fuk for a car bro.
10% of gross per year for car
or 1% of net worth
post 1442353281 05-15-2016, 09:12 PM
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Sure you can afford it, but doesn't it seem goofy to pay almost as much per month for your car as you do for the place you live?

I'm not sure what you get for $600/month in Michigan, but here you'd be living in a complete dive and cruising around in an Infiniti/BMW...
post 1442353701 05-15-2016, 09:15 PM
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Op, you live in fear.

I bought a 30k car and make less than you.

No fuks given
post 1442353911 05-15-2016, 09:16 PM
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Originally Posted By stevesteve12⏩
10% of gross per year for car
or 1% of net worth
I'm all for financial stability but lol at 10%.
Brb a guy that makes 100k can't even buy a new base civic

The point of having a financial 'rule' is to make it reasonably easy to get something you like and fairly easy on the wallet too.

10% is a penny pincher rule. Might as well tell OP to save his money and walk 2.5 hours to work everyday.
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post 1442353931 05-15-2016, 09:16 PM
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Originally Posted By nn586⏩
No debt, all i have is my rent which is 600/mo and a car which i would sell privately for around $2,000-$2,500 (99, 73k miles drives great but want something newer). Savings is around 10k

2013 Dodge Charger R/T Max AWD - $22,995
http://www.cargurus.com/Cars/invento...ting=143631068

2010 BMW 5 Series Gran Turismo 550i - $22,995
http://www.cargurus.com/Cars/invento...ting=140600079

2014 Ford F-150 XLT SuperCrew 4WD - $23,995
http://www.cargurus.com/Cars/invento...ting=138035776

2013 Nissan Altima 2.5 SL - $14,659
http://www.cargurus.com/Cars/invento...ting=138279031

2014 Lincoln MKZ Base AWD - $22,995
http://www.cargurus.com/Cars/invento...ting=135041353

2013 Infiniti G37 xAWD - $18,995
http://www.cargurus.com/Cars/invento...ting=129705568

2013 Ford Fusion Titanium AWD - $18,299
http://www.cargurus.com/Cars/invento...ting=139626524

Really am looking for something under $25 that is has aesthetic interior and is comfortable/fun to drive
Fusion and Altima will have the lowest cost of ownership most likely when you factor in gas and maint.

The rule of thumb is you can afford any used car or total value of all your vehicles combined are not more than half your anual take home. If your post tax is 50k then you can have 1 25k car or two 12.5k cars.


Oh and don't make payments pay cash for it. Show me a payment plan and I can show you how you can have more car my way.
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post 1442355101 05-15-2016, 09:24 PM
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22k is around 400 a month, grab that charger boyo
post 1442355191 05-15-2016, 09:24 PM
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dodge charger

i've got the 2014 edition hemi v8 and would buy it again
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post 1442355291 05-15-2016, 09:25 PM
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Originally Posted By headturner1⏩
Op, you live in fear.

I bought a 30k car and make less than you.

No fuks given
No, I just live in the real world. I'm not trying to make a stupid decision like you.
post 1442356191 05-15-2016, 09:31 PM
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If you have to ask, then the answer is no. Learn more about your finances before your splurge on luxury items. (srs)
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post 1442356431 05-15-2016, 09:32 PM
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Originally Posted By Destor⏩
Sure you can afford it, but doesn't it seem goofy to pay almost as much per month for your car as you do for the place you live?

I'm not sure what you get for $600/month in Michigan, but here you'd be living in a complete dive and cruising around in an Infiniti/BMW...
It's pretty low cost of living here brah. I am looking to spend max $350 a month [no troll price btw]
post 1442356901 05-15-2016, 09:36 PM
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Originally Posted By nn586⏩
I could get diagnosed with cancer or something one day brah, you never know... Plus I did a lot of drinking in college (dont drink anymore)
Dumbest response ever. So you drank? For some unknown reason you think you're dying early? Sounds like a great way to cop out of investing in your future and a 401k. Sure, spend it all when you're young and be somebody elses burden when you're old and realize you didn't save because you thought "well hey something random might kill me, why save" and put all that stress of caring for you on your kids or family.
post 1442357051 05-15-2016, 09:37 PM
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Originally Posted By Hadtodoit⏩
Dumbest response ever. So you drank? For some unknown reason you think you're dying early? Sounds like a great way to cop out of investing in your future and a 401k. Sure, spend it all when you're young and be somebody elses burden when you're old and realize you didn't save because you thought "well hey something random might kill me, why save"...
Lol well where should I start investing? I literally don't know much about it. I have money to put into whatever I want but I don't know what's the best option for me. (besides a 401k)
post 1442357371 05-15-2016, 09:40 PM
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Buying a car you plan on keeping for 3+ years, is a big and responsible driven decision.

You gave no good info, besides what you make and that you want nice interior and fun. Phuck most the cars you listed and tell me:

Why da phuck you're selling a car with 100k miles at around 2k?

Is your personal vehicle relevant to your job? If yes, how so?

What's your max for full coverage insurance? (Where I live, if you're financed....full coverage.)


Do you prefer trucks or cars?

















Inf4imnotacarsalesman


























Would you be interested in a zero% financing offer?
post 1442358921 05-15-2016, 09:52 PM
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At 26 years old & presumably without kids to drive around, you should go for themuchsexier Infiniti G37(x) coupe.
Even if financing, you can EASILY find a low-mileage pre-owned / off-lease 2011 - 2012 model in excellent condition for $350 - $400 / month on a shorter term with $0 down in MI.
The $$ saved by going with a slightly older (but same generation / style) G37 can go toward insurance / sensible upgrades.
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post 1442359401 05-15-2016, 09:56 PM
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the feels wen jst purchased 03 350z for $5000 went to get gas and saw som kid I knew back from middle school driving a 2011 Ford Shelby Cobra... Feels kicked in hard brahs...
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post 1442359491 05-15-2016, 09:57 PM
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I'm just gonna keep my 99 and keep saving brahs. I need to learn how to invest and what to invest in. Any tips would be appreciated. Would like to invest but don't know WHAT to invest in, what kind of plans, etc.
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