Is it Dumb for a Young Guy Earning 80 - 100K to Buy a 40K Car?

[VanBuurenTiesto]

Cliffs:

- I make around 80 to 100K a year
- my monthly expenses without car payment are about 2100
- I only drive 3 miles for work so I spend very little on gas
- I have no debt

I'm thinking about buying a Lexus GS used for around 40 to 42 in a little while, should I do it? Keep in mind the Lexus vehicles have huge resale value - this car at 90k miles will likely still be worth 18K and they're the most reliable cars on planet

[VanBuurenTiesto]

Bump

[Zerafian]

how many years have you been making that much is the question

[demadio]

[NeedMoarMilk]

It's only dumb because of the car you would be spending that money on

[montecarlo]

no, not dumb.


edit: just read you're buying a used car with 90k miles on it......dumb as **** *******.

[LiquidSword]

Why would you buy when you can just lease?

[VanBuurenTiesto]

how many years have you been making that much is the question

1 year but I have no reason at all to believe I will make less as my skills in my field grow

[Tbone991]

do it brah, think of the pussy

[Lamborg]

Make 100k a year and you're buying that car

[tech99]

It's only dumb because of the car you would be spending that money on

this. buy something new.

[18ToLife]

buy it

2100 a month x12 is only 25200

the other 54800 a year should easily pay it off plus insurance and everything just for 1 year

cant you just pay in cash if ur worried?

[District]

What do you do OP?

[chpalmer24]

I'd get a different car but if you like the GS 40k for a car would be within your means based on what you said

[VanBuurenTiesto]

Why would you buy when you can just lease?

Lol


Leasing a 60k Lexus is about a 600 payment if not more. Why would I pay 600 a month to rent a car when I can do 600 for 6 years and own it?

[GetClassy]

that's very reasonable considering your not paying that 40k prolly in one year instead you will through a loan broken over a span of probably 4-6 years. that car fit in your income bracket. it's ur decision no one knows exactly how much you have in your bank and how much you need in the bank monthly to support yourself. Are you expecting gains in income as the years go by? I think you're fine

honestly if i made 100k i would get a 6 series. jussayin lol

[drFEEL]

It's only dumb because of the car you would be spending that money on

what, the fuk, are you

[Zerafian]

starts at $48k according to Lexus site....From personal experience I would wait until you have the price of the car saved in the bank, even if your going to finance. Better to be safe then sorry, you really have NO clue what could happen in the job market even if you feel you have a secure job, Iv been there.

[VanBuurenTiesto]

this. buy something new.

Used Lexus GS with 30K miles >>>>>>>>>> buying a new BMW 3 series or Audi s4 or whatever

[khuong1994]

3 miles to work? might as well just buy a scooter

[Austanian]

Investing 40-50% of your income in a depreciating asset is never smart.

You are 25.

Have you been investing in retirement?
Saving for a house?

Money should go into those before you blow money.

[VanBuurenTiesto]

starts at $48k according to Lexus site....From personal experience I would wait until you have the price of the car saved in the bank, even if your going to finance. Better to be safe then sorry, you really have NO clue what could happen in the job market even if you feel you have a secure job, Iv been there.

I work in sales and I'm very very good at my job....thinks will likely only go up from here


And remember this is a Lexus, if something happens and I gotta downsize to a cheaper car, I can trade it in and get close to what my payoff on it is

[RainingBlood]

40k on a car and you're making 100k? No lol. 40k cars are reserved for people who make more.

[VanBuurenTiesto]

Investing 40-50% of your income in a depreciating asset is never smart.

You are 25.

Have you been investing in retirement?
Saving for a house?

Money should go into those before you blow money.

I'm saving like mad for a house brah but I'm clearing somewhere around 5000 or more a month after tax. Even with a 600 car payment, I'm saving 2400 a month or so


And yes I'm usually very financially conservative so that's why I made this thread

[Briangumble]

If I was making 80k-100k I would buy a 80k-100k car. With a good down payment and a 4-5 year loan your monthly payments are only going to be a 1/4 of your income so you'll still have enough to pay your mortgage and bills and still have money left over to save and invest.

[98eclipseRS]

Yes its dumb. Buy a <20k car and invest the rest. Make that money work for you. When you are 50 and that investment money is worth ten fold what it is now or you have no mortgage payment you will be glad you did.

[GinoFelino]

I'm saving like mad for a house brah but I'm clearing somewhere around 5000 or more a month after tax. Even with a 600 car payment, I'm saving 2400 a month or so


And yes I'm usually very financially conservative so that's why I made this thread

If you really want it then go for it as you can afford it. I still agree with his point though. Much better use of money at your age to invest than buy a 40k car.

[tdnick]

"Lexus keeps its value"

Lol

[VanBuurenTiesto]

40k on a car and you're making 100k? No lol. 40k cars are reserved for people who make more.

U gotta look at all the factors brah. There are people who drive 25,000 miles a year who own Honda Accords who spend more on their car per year than I would. I spend about 80 bucks a month on gas

[VanBuurenTiesto]

If I was making 80k-100k I would buy a 80k-100k car. With a good down payment and a 4-5 year loan your monthly payments are only going to be a 1/4 of your income so you'll still have enough to pay your mortgage and bills and still have money left over to save and invest.

Not sure if troll or retard