Car Financial Questions

By finding out how much it costs and comparing it to how much you make.

>>16524313
not that simple mang
it's all about credit and debits

>>16524313
Well I take home about ~$500 a week, more or less. I have a couple thousand saved. Not sure if I should buy something in the sub-$6000 range with CASH, or finance something maybe in the $11,000 range, with a huge downpayment, while keeping a couple thousand as emergency money, as well as money for tires, battery, alternator, tune up, and any other maintenance components at whatever given Mileage the car is at.

BTW currently drive a $3k civic, and it's a ticking time bomb to be honest

>>16524309
30% of your income

Depends on the kind of person you are. Is your car nothing more than a soulless appliance to get you from A to B? Then you probably shouldn't be spending more than 20% of your income on a car. If you're an enthusiast who loves driving and are willing to sacrifice savings then you can get away with up to 50% of your income.

tl;dr: get what you can afford and use your brain.

>>16524322
financing luxury goods (a car is a luxury good) is always a bad idea
that way u just delay your problems and they get bigger

>>16524318
>>16524322

It is that simple.

>This costs X amount
>I have Y amount to spend
>If X is more than Y I can't afford it

If you can't buy it cash, you can't afford it

>>16524329
Do you seriously think every successful person in the world buys everything with cash up front? Let me guess, you keep your money under your mattress too?

Spotting poorfags is 2ez.

>>16524324
>>16524325
Ok but is that 30% of my acquired savings, or 30% of my monthly income, for a monthly payment?

>>16524351
See >>16524324

>>16524346
ohhhhhhhhhhhhhhhhhhhhhhhhh

File: 1483981007257.jpg (186KB, 750x743px) Image search: [Google]

186KB, 750x743px

>>16524350
you need to be a real fucking idiot to compare getting outside capital for an investment (for example buying and then renting out an apartment) to getting a loan for some fucking luxury good
that's probably a top 3 strategy to stay a poorfag
>Spotting poorfags is 2ez.
you are either poor yourself and talking out of your ass or nouveau rich af

>>16524628
Except he didn't compare it at all. Why would you drop cash on a car and lose funds that could be spent elsewhere? Finance it and put the excess cash into investments that return higher than what you're paying on the loan. Is the reason you're poor because you don't like making money or something?

>>16524322
I make about the same as you. A little more technically. I bought a $19k car. After taxes, a used car warranty, and gap insurance the price was $23k. Just goes to show there's more to look at than the sticker. Then there's insurance. Just call your insurance company and ask for an estimate, give the VIN on one you're looking at. It'll kill your dreams quick, especially on a new car because those are the highest.

>>16524628
>he saves pictures of random girls that would never look at him

Your pathetic shit aside, it would do you well to learn about the concept of what capital actually is and when is/isn't an appropriate time to tie it up. Basically what >>16524642
said already.

>>16524642
>Why would you drop cash on a car and lose funds that could be spent elsewhere

>implying you do something else with this money
>implying you can beat the interest of the credit

i am not a filthy jew
I work hard for my money and buy just things I can really afford

>>16524350
>Let me guess, you keep your money under your mattress too?

yeah I do
and guess what, I even got money to put under my mattress in contradiction of pretty much anybody in my age
most are living from paycheck to paycheck and spend everything immedietly and get credits and cry that they dont have any money

I am not rich, but I could go tomorrow out of the house and buy pretty much anything i want and pay it with cash

stay poor

>>16524967
>implying you can beat the interest of the credit
Oh god my sides. How terrible is your credit that you can't get <3% on a loan? You literally do not know what the fuck you're talking about and you're calling other people nouveau rich.

>>16524967
So you're better off than the people you share a trailer park with? Well yeehaw! Your weird notion of success coming from being able to make a lump-sum purchase of "pretty much anything I want" only further shows what a poor plebby piece of shit you are. Or that your aspirations are super low. Probably both.

Stay delusional.

>>16524322
Fix the civic. There's no reason for it to be a time bomb.

>>16525007
kekkles yeehaw lolol

>>16525041
DESU I lied. I have a ford explorer and I need better MPG than 16. I like taking it on dirt roads though and drifting in mud and sand and loose dirt. I've had it for almost 8 years and its time for CHANGE. NEW PRESIDENT. NEED NEW CAR

>>16525310
Buying a new shitbox is not the answer. 3k for a civic or a down payment on a newer car buys a lot of gas.

10% of your salary.

So if you make 30k you're stuck with a 3k civic. 60k used civic SI for 6k. Mustang GT you could afford if you got a 2005-10 with 60k but it'd be tighter since they go for about 10 now? Factor in more v8 gas, higher insurance on the si and GT.

If you're doing payments, 10% is still good if you stick to under that, over X years. You'll have a nicer newer car but you'll be a slave to debt. Better to get plan out what you'll pay for a mustang GT of the model year you'd like, every month depositing that theoretical monthly payment into an index fund while you drove the civic until you have enough cash in the market to liquidate it all and buy a 1-2 year old mustang GT without a loan. In the end, it's like giving yourself a loan for driving a shitty old civic for a few years.