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Forum » Is it retarded to buy a new truck with 70k salary?
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Thread: Is it retarded to buy a new truck with 70k salary?

post 1660800923 05-05-2022, 06:43 PM
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Is it retarded to buy a new truck with 70k salary?

My dad is telling me not to get a Tacoma for three years and to get a ****box and save up which I get what he’s saying but I could technically pay $1000 for a studio apartment which is one paycheck after taxes and the. Second paycheck after taxes I can do car payment $500 and food $200 then I can save like 2k a month so idk what my dad is on about?? I do want to save for a house and I think 1.5k a month is pretty decent in saving for a house. Does anyone here have similar financial situation and have a large car payment? Btw I work remote and am only using this truck for fishing and skiing gear which might sound retarded but I live for my hobbies.
post 1660800953 05-05-2022, 06:44 PM
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I would suggest it is potato to buy a new truck regardless of salary.
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post 1660801023 05-05-2022, 06:45 PM
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If I didn't own a home yet I would not buy a new vehicle.
post 1660801293 05-05-2022, 06:51 PM
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Originally Posted By IPoopStandingUp⏩
If I didn't own a home yet I would not buy a new vehicle.
Ok so you think it’s best to aggressively save until a house is secured
Originally Posted By Ironmanlet⏩
I would suggest it is potato to buy a new truck regardless of salary.
You don’t see the customizations that you can do?!
post 1660801343 05-05-2022, 06:53 PM
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with that salary you can't afford any car above 20k srs
post 1660801463 05-05-2022, 06:55 PM
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Originally Posted By PShift5⏩
You don’t see the customizations that you can do?!
I do see them. I don’t see what purpose they serve that makes them worth the money. Keeping up with the Jones’ is not a good reason to give up money in my book.

I understand a lot of people don’t share my perspective.

Can’t take it with you. The truck or the money. I get it, just not for me.
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post 1660801473 05-05-2022, 06:55 PM
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Originally Posted By PShift5⏩
Ok so you think it’s best to aggressively save until a house is secured
Yeah I'd drive something more affordable than a new Tacoma in that situation, unless there's some reason you need a truck. Before I had a house I had very little use for a truck but I don't know your situation. Even if you need a truck you could probably listen to your dear old dad and get a beater.
post 1660801493 05-05-2022, 06:55 PM
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Originally Posted By MiscMathematician⏩
negotiate based on the number of chips
The new Tacoma’s going for 40k passive telling me 20k it’s all over they won’t go that low
Originally Posted By EasyPassive⏩
with that salary you can't afford any car above 20k srs
Fuarkkkkk
post 1660801513 05-05-2022, 06:55 PM
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Tacomas are righteous but now is a terrible time to buy a house or car. I would compromise and maybe get something used you can pay off in a year or two.
post 1660801723 05-05-2022, 06:58 PM
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Depends on how much savings you have. A house isn't in the realm of possibility anytime soon for most people. If you can put down a big down payment to greatly reduce the monthly payments, why not?

That or buy it outright
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post 1660801793 05-05-2022, 06:59 PM
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Are you using it for business/income purposes (I.e. is it a tax deductible expense)

Because that largely determines my answer
post 1660801863 05-05-2022, 07:00 PM
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Originally Posted By MiscMathematician⏩
40k truck with a 20k down payment is like 350 bucks a month at a low interest rate for 5 years. totally doable for most making 70k
Yea I only have 2k saved lol I guess it ain’t happening rn that’s life
post 1660801923 05-05-2022, 07:02 PM
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Originally Posted By r32gojirra⏩
Are you using it for business/income purposes (I.e. is it a tax deductible expense)

Because that largely determines my answer
100% usage is for fishing (driving on beach, back rack for rods and bed for bike and gear), and skiing and going to the market, so I am assuming that’s a no from you as well lol
post 1660802013 05-05-2022, 07:05 PM
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i'd just buy a motorcycle OP.

odds are in your favor you won't need to worry about money ever again
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post 1660802083 05-05-2022, 07:07 PM
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Originally Posted By PShift5⏩
My dad is telling me not to get a Tacoma for three years and to get a ****box and save up which I get what he’s saying but I could technically pay $1000 for a studio apartment which is one paycheck after taxes and the. Second paycheck after taxes I can do car payment $500 and food $200 then I can save like 2k a month so idk what my dad is on about?? I do want to save for a house and I think 1.5k a month is pretty decent in saving for a house. Does anyone here have similar financial situation and have a large car payment? Btw I work remote and am only using this truck for fishing and skiing gear which might sound retarded but I live for my hobbies.
Originally Posted By PShift5⏩
Yea I only have 2k saved lol I guess it ain’t happening rn that’s life
your math doesn't make sense.
you live at home but only have 2k savings?
post 1660802093 05-05-2022, 07:07 PM
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Post deleted by user
post 1660802123 05-05-2022, 07:09 PM
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Originally Posted By IPoopStandingUp⏩
If I didn't own a home yet I would not buy a new vehicle.
This.


Op you are falling for the classic American trap.


Instead of saving 2k let’s save the 2500. Or dump that $500 into a 401k
post 1660802203 05-05-2022, 07:10 PM
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Originally Posted By NextPound⏩
99.9% of vehicles are a depreciating asset. Houses/investments generally appreciate if you are not an idiot.

The only question is do you want to make decisions that make you poor or rich.
Rich moves
post 1660802273 05-05-2022, 07:12 PM
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Originally Posted By ymer⏩
So you need any truck, not a brand new 50k truck.

But you do whatever makes you happy.
Yea you’re right I just get impulsive when I get ideas sometimes and it takes me a while to calm down
Originally Posted By NitrogenWidget⏩
your math doesn't make sense.
you live at home but only have 2k savings?
Just got out of college last week
post 1660802443 05-05-2022, 07:15 PM
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[QUOTE=PShift5;1660800923]My dad is telling me not to get a Tacoma for three years and to get a ****box and save up which I get what he’s saying but I could technically pay $1000 for a studio apartment which is one paycheck after taxes and the. Second paycheck after taxes I can do car payment $500 and food $200 then I can save like 2k a month so idk what my dad is on about?? I do want to save for a house and I think 1.5k a month is pretty decent in saving for a house. Does anyone here have similar financial situation and have a large car payment? Btw I work remote and am only using this truck for fishing and skiing gear which might sound retarded but I live for my hobbies.


You can also just lease a tacoma for around $250 a month through a broker.
post 1660802533 05-05-2022, 07:17 PM
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Yes, it is a stupid move financially.
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I reciprocate reputation.
post 1660802693 05-05-2022, 07:20 PM
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Is that what everyone is doing now except with 35K take home? I thought timmy at mcdonalds was rich since he just leased a 6 series BMW.
post 1660802753 05-05-2022, 07:22 PM
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Get one of those overhead storage units for the skiing gear and fishing gear.
Put it on a reliable Japanese vehicle from the 90s.


Get a house ASAP and rent out the spare rooms.

Buy a truck using the money from the spare rooms.
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post 1660802943 05-05-2022, 07:25 PM
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Absolute idiot financial move OP but I’ve been there and I get it. The classic trap of “well rent is covered with one paycheck and I have all this leftover” is impressionable when you want a badass rig

Unfortunately all that money saved could aggressively go to building more wealth, at which point you can buy a truck in cash out right and not dive into interest.

I’ve been there and done that, sold my dream truck and use my excess money saved from no insurance, diesel, registration or maintenance towards my mortgage debts on my two houses

Building wealth means sacrificing short term gratification
post 1660803013 05-05-2022, 07:26 PM
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You can't save yourself rich anymore, but you also shouldn't sabotage your ability too. That's an extra 6k a year down the pipe.

Save up and buy cash right now. Stay out of debt. Work on making more money.

Then when you have more money saved and make more money, you can trade in your car and pay cash for a better car. Then you keep going with that and stay out of debt.
post 1660803283 05-05-2022, 07:32 PM
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Dated a girl when I was younger and her father was highly successful. He sat me down (probably hoping I would marry his daughter, and I should have) and told me a simple rule to live by……..don’t buy a single thing in life if you can’t buy it outright, no debt, no payments. To this day I’m not sure if he was right, but such a simplistic approach is true freedom. If all you can buy with cash is a chitbox, then drive that chitbox with a grin knowing you don’t owe the joo bankers a dime.
post 1660803583 05-05-2022, 07:36 PM
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Originally Posted By MiscMathematician⏩
u cant invest yourself rich either. even with "safe" stocks.

lol

lost 15% in the last month
Exactly. The only chance people had were riding crypto swings for a short period of time to make bank. Funny how everything in the market is downs. Crypto, gold, silver, stocks, etc. doesn't make much sense. I'm down too and even down with gold and silver during unheard of inflationary times. Have to love market manipulation!

Assets and cash flow are king. Have to start your own business now. Utilize the tax breaks and you hold the ability to grow it based on your own actions. No corporation is going to give you big enough raises to keep up either. **** is getting crazy.
post 1660804243 05-05-2022, 07:49 PM
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Originally Posted By PShift5⏩
Yea you’re right I just get impulsive when I get ideas sometimes and it takes me a while to calm down



Just got out of college last week
yeah, you should probably make sure you will stay employed before buying a new car.
your dad is right.
mostly because he will feel obligated to pay for it if something goes wrong with you're new job.
post 1660804373 05-05-2022, 07:52 PM
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Some great advice itt I’m out of reps but will get you guys later. My final decision is to not take out a loan on a new vehicle right now as I was thinking impulsively.

Thank you all saved me a huge headache
post 1660804733 05-05-2022, 08:00 PM
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