I've been working for 2 years now on 55k salary. My student

The camaro is a shit car. Buy the mustang you wont regret it

>>17607700
Personally I liked the mustang more, so I bought a 2015 GT. Try them both, Mustang has more creature comforts I find, being able to see out of the car is one lol.

>>17607720
Ah I see

I would get the ecoboost due to my slow commute but still want the looks and some fun.

Did you get your car new?

Type R Civic

>>17607700

I hate Ford.

But I hate Chevy more.

Get the Mustang GT.

>>17607730
Honestly I would buy that if it had an automatic

My drive home in afternoon is an hour long in stop and go traffic so no thanks manual.

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>mustang ecoboost
>MUSTANG ECOBOOST

LMAO

you lost breh

>>17607700
Used 981 Cayman S, it's a no-brainer.

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>4 cylinder mustang

>>17607700
Get a used 15+ Mustang gt.

>>17607740
Get a manual faggot. Change your commute.

>>17607700
How about you pay off your debt instead of going into more debt to buy a car that's 90% of your salary. You cant afford a 45k car

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>>17607832
>he doesnt buy a $45k camaro on $20k a year
you gotta live sometimes my mang

>>17607832
Because my investments for two consecutive years have earned over 10% and my student loans are 3%.
And student loans are rare debt you can itemize.

Why would I pay that off?

>>17607799
>>17607777
The 2018 mustang gt blows all prior GTs out of the water.

I want a commuter car.
>>17607777

>>17607700
The ecoboost will become boring VERY fast. The camaro is shit. Buy neither of them.

>>17607962
But it looks like it has downs. If you want a commuter car then get a civic for 3k or keep your current car.

>>17607799
t.poor teenager

>>17607832
A car note should be 20% of your gross income or less per month. 5 year note on a $45k car is about $660/month. Which is easily affordable on a $55k/year job. He could get a slightly used one for cheap also.

Go buy an optioned up 17 gt being dumped to make way for the 18s. Ford often offers 0 percent financing as well.

>>17607955
>over 10%

A chimp could have earned that in this market. Stop roleplaying as some savvy wolf of wall street type with your $500 index fund "investments" you delusional twat.

>>17607993
I'm not saying I'm an investment type.
I'm simply stating that my student loans are 3% while investments are 11%


My question is why would I pay it off?

You're the delusional twat who can't answer a simple question and reads too much into a statement.

>>17608001
I'm not even that poster. I just like to laugh at people larping. Anyway, you'd pay it off to free up more capital to invest if you weren't a simpleton who understood the time value of money.

I don't give a shit though. Enjoy your modern plastic shitheap.

>>17608014
im not OP im just here to tell you you have autism.

>>17608014

Bruh, if he has $5000 earning $500 a year, why would he sell it to pay off $5000 incurring $150 a year??

>>17608023
I am the OP and I'm here to suck your cock

I love my 2017 v6 mustang. I test drove the ecoboost and the v6 manuals. AMA

>>17608030
Because compound interest works both ways. I know most of this board is teens but fuck you guys are bad with money.

You can't afford the car, you should get a 15k-20k car. But fuck it live your life I guess and have a good time, just don't spend money anywhere else

>>17608014
>capital

If I pay off debt I am free of a LIABILITY.

My working capital is money, it goes away if I pay off debt.

What the actual fuck dude?

>>17608040
>>17608014
t. Financially illiterate trollop

>>17607989
Close but wrong - the general rule is you should spend no more than 20% of your gross annual income as the total purchase price.

20% of 55k = $11,000. With that income you can afford an $11,000 car, reasonably.

Some say if you REALLY want the nicest car you can afford you can do 50% - or $22,500 for OP.

OP - you can't afford a $40k car. You should be in the 100k plus range annually before considering it.

Also - the way new cars depreciate in value and even cars in general are not investments.

Horrible decision - but go with the Mustang definitely.

>>17608040

And if he reinvests dividends, he still comes out ahead. Or if his stocks increase at a fixed rate of 10% a year, like the past two years as he said. $5000 into $5500 into $6050.

But I'm just a certified accountant, I don't know much.

>ec/o/nomics

>>17608040
>have $6k in savings
>makes about $600/year
>re-invest it and pay off debt in 4 years and still have $6k
>spend the $6k on paying off a debt with low interest
>Now I have $600 to invest
>I make $60 a year
>takes 30 years to get back to the $6k
>but at least I paid off that debt

Cayman

>>17607700
>I have a decent amount saved in the bank.
how much?
45k is crazy high for a 55k salary, and you already have unpaid student debt. Why isn't that paid off if you have money in the bank?

>>17608125
I keep 1 year worth of emergency funds.
I budget my expenses (including entertainment) and extra money invested yelds over 10% and my interested charges 3%.

>>17607832
This. I waited until I was making $90k before I bought a $35k car. Saved up until then and paid off the car in 6 months.

You're gonna be dedicate more than half your salary (before taxes) to a car. Bad move, breh.

Camaro 1le V6, best bang for your buck 'sports' car

>>17608152
I'm not paying the whole car off in one year and I plan to use it 5-6 years.
I get what you mean though.

>>17608199
Not those posters, but I think it is a bit risky.

Also personally I would wait and drive a beater for a while longer. The new 2018 GT will depress all previous Mustang prices greatly, so you can score them for a bit cheaper.

>>17608146

You could get an Ecoboost premium for less than $25k especially with the 2018s coming in. Add in the Ford tune for $700 and you have 335 hp/390 tq. Lots of fun and still affordable. You could probably squeeze some more power out of it with bolt ons, and down the line, swap in a big turbo kit for some serious power gains.

>>17608228
I've always had a positive attitude that I will make more money the next year than the current year but I guess it's not the safest strategy.

I rationalize the purchase by amortizing it over 5-6 years while income climbs

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>>17607700
>ecoboost

if you get either car get the V8 or find a different car

Used zl1 1le manual would be my pick

Hurry up and make a rhd version gm u stupid cunts

>>17608152
:Hmm:

>>17607740
MOTORCYCLE

>>17609057
I rather not refuel 2-3 times a week.

I dread once a week enough, thanks.
>>17609075

i'm surrounded by big rigs constantly, no thanks. I rarely see bikes because it's shitty with all this traffic, big rigs, and idiot drivers.

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>>17607989

>A car note should be 20% of your gross income or less per month.

Says who?

The rule of thumb that I've always heard is the 20/4/10 rule

>with 20% down
>and a 4 year (48 month) term
>if the payment is more than 10% of your gross monthly income, you can't afford it

So on a $45k car he'd have to put $9k down.

Let's say he can get a 1.9% APR loan (prime-ish on a new car with dealer financing). He'd be financing $36k over 48 months.

That would give him a monthly payment $779 (lmfao). His monthly gross income is $2292. This means that his car payment would be almost 34% of his monthly gross income. OP should be shooting for a vehicle with a $229 monthly payment, which would be a vehicle worth just over $13k assuming 20% down and same APR.

Or, you can just go by the ole Jay-Z rule of thumb

>if you can't afford to buy it twice, you can't afford it

OP, don't be a fucking retard. You CANNOT afford a $45k car on a $55k salary. You've been warned.

>>17609128

Ah I'm tired. Divided everything by pay period (24) and not months (12).

So this nigga can afford a $26k car. A payment on a $36k loan for a $45k car would be 17% of his gross monthly income. Still too high.

>>17609128
MSRP top of the line ecoboost $38k MSRP.
Discount is about 13%.

0% financing on those cars.

$33,000+ 9% tax

$36k

$7.2k down

28800 / 60 (0% financing 5 years on mustang ecoboosts) = $480 monthly

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jesus christ this is why defaults on subprime auto loans are growing

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>>17609128
>can buy the car I want 3 times over with this logic
>still want to take out a long-ass loan for muh credit
Tell me, anon. What's a good balance on financing if my goal is just to build credit?

>>17609162

Of course if you stretch the loan out longer it will be a lower % of your monthly income. The point of capping the loan at 48 month is so that you don't get overextended for your income level.

5 years is a short investment horizon as well. The 0% APR is nice, but there are countless 5 year windows where the market yields negative or neutral return.

Meanwhile, your credit is shot to shit during this time period. Your utilization percentage will be through the roof with $28800 debt. If you have any unexpected expense that requires financing over the next 5 years, you will get burned on APR. You can also forget about getting a decent mortgage rate (if you're in the market or will be) until your utilization % goes back under 30% of your total combined credit line.

a $28800 loan w/ a 48 month 0% APR term gives a $600/mo payment. 13% of your gross monthly income. Still a little high my nigga. Get it down to 10%.

>>17607700
Where the fuck is a Ecoboost Mustang more then $45K?

Also your on /o/ so you gotta get the ecoboost

>>17609096
>I rather not refuel 2-3 times a week.
then buy a civic
don't buy the neutered version of a muscle/pony car

>ecoboost mustang or camaro
>turd with good gas mileage or even more expensive turd with worse gas mileage
Buy a charger, faggot. You can fit all your friends in it and it has some power.

>>17609209
a pony car by definition is a neutered affordable sporty LOOKING car.

wtf

also any german car has to refuel once a week such as bmw 330i, audi a4, c300.

doesn't have to be a civic.

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>>17609190
>my goal is just to build credit?
Then why would anyone go 35K into debt, pay sales tax, spend a few thousand a year on insurance and dealer maintenance, while taking a huge car value hit the minute you drive it off the lot, then have it depreciate?

>>17609190
>What's a good balance on financing if my goal is just to build credit?

Forget the car. Just get a starter credit card and pay it off in full before the closing date every month. Do that for 12 months. Congrats, you have a 720+ FICO.

>>17609096
What a moron fuel is the cheapest fluid your car takes apart from water.

Cuck

>>17609075
You're the moron considering you don't know how to read.

OP complained about visiting the gas station 2-3 times a week. He did not mention money. He only mentioned going there.

It means he doesn't like wasting time refiling it RETARD.

>>17609096
You sound like a pussy.
>can't watch road because too much traffic.
Nigga if I'm legally blind and have to wear glasses and can stop quick or evade dumb drivers then so can you.

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why not this? mustangs and camaros aren't the only american muscle cars

>>17609482
is it just me or is anyone else scust at sport sedans?

inb4 subaro owners

lmao
fuck a "sport" sedan

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>>17609482
>autotragic
>fca

>>17609225
M3 upwards or amgs also use 13+ l/km
Mustang can do lower on highway

>>17609225
>also any german car has to refuel once a week such as bmw 330i, audi a4, c300.
It could fill once a month or twice a day. Who knows how much mileage he's doing?

hey /o/ where can i learn more about money is /biz/ good?

Honda Accord

>>17607740

if you're not getting the manual there's no point in getting a sports car.

you'd have a better time in a tahoe or equally sized SUV

>>17607700
How about get rid of the loan completely first you nigger

>>17610021
/biz/ is shit

t. /biz/

>>17607700
Stop being a pussy about manuals and get a Focus RS.
All the fun of these 2 with way more practicality.

I've always been a big GM fan but I've driven 4 newer Camaros (2011,v6) (2011,V8) (2014,V8) (2016,V8) and honestly they were pretty fucking dull and had no personality and felt overly heavy while driving them, where as the Ecoboost mustang I drove was very fun and had a nice ride,got decent fuel economy too.l,I've never enjoyed a Ford that much so I'd go with the mustang.

>>17611034
Too small car for little boys.

>>17610493
Only an idiot would pay a tax deductible 3% student loan.
>>17610401
Op said he wanted a sporty sedan not
Sport sedan.


One letter does make a difference mong.
>>17609773
Mong.

Get a used GT low miles. Don't get an eco meme.
Retard.

>>17612239
GT isn't designed for an hour long bumper to bumper daily

Retard

At least suggest a car that makes sense for his needs.

only thing worse than a 4 cylinder mustang is a v6 camaro. get the mustang.

>>17607700
>spending 80% of your annual salary on a car

God damn people are stupid. Why don't you invest that money instead of blowing it on a rapidly depreciating plastic shitheap? If your investments really do earn 10% you should be able to pay cash for a car that fits your salary in no time instead of giving away interest to a jew.

>>17609096
>wanting a crippled muscle car
>just want to look """"cool""""
>not wanting to refuel
>auto tranny

Go ride the bus, faggot. You don't belong in this board

>>17608001
>Assuming past results dictate future returns

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>>17607700
I'd rather eat worms than drive a Chevy

>>17612450
OP clearly wants a PONY car or muscle car.

Reading must be challenging since your thoughts constantly revolve around "muh V8"

Get a used 15-17 GTPP for low $20ks

The 18+ is far too expensive new might as well get the 350 for that money
Have you driven a Camaro? It's abysmal inside and for that 1LE money get a 350