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      04-03-2014, 11:45 PM   #1
E92Atlanta
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To me, I can afford it... To some, my payment sounds insane.

$630 a month. I'm 25. Bought it three months before I graduated college last fall since I already had a corporate job.

AFTER taxes I clear about $55k a year, so salary wise, gross income is around $70k.

Can I afford it? How about you all?

Sure I know the money can be better invested or saving for a house, but I wanted a car I love for a few years in my twenties. I have my own condo now, but with my son being 3, we would like to have a house in a few years In the suburbs.
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      04-03-2014, 11:50 PM   #2
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Quote:
Originally Posted by E92Atlanta View Post
To me, I can afford it... To some, my payment sounds insane.

$630 a month. I'm 25. Bought it three months before I graduated college last fall since I already had a corporate job.

AFTER taxes I clear about $55k a year.

Can I afford it? How about you all?

Sure I know the money can be better invested or saving for a house, but I wanted a car I love for a few years in my twenties.
This should be a fun thread.
I look forward to all the comments.

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      04-03-2014, 11:59 PM   #3
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      04-03-2014, 11:59 PM   #4
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Originally Posted by ddk632 View Post
This should be a fun thread.
I look forward to all the comments.

LOL yup.

To the OP, are you here bragging about the fact that you still live at home and spending money you don't have on a car? Just wanted to make sure I got it right
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      04-04-2014, 12:01 AM   #5
E92Atlanta
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Quote:
Originally Posted by SCHMOUPE
Quote:
Originally Posted by ddk632 View Post
This should be a fun thread.
I look forward to all the comments.

LOL yup.

To the OP, are you here bragging about the fact that you still live at home and spending money you don't have on a car? Just wanted to make sure I got it right
Where in my post did I say I was living at home?

I'm living in my own home, yes you are correct.

EDIT - sorry, I now see that saving for a house implies that I am still living at home with parents. Not the case, I have a condo.
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      04-04-2014, 12:07 AM   #6
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Quote:
Originally Posted by SCHMOUPE View Post
LOL yup.

To the OP, are you here bragging about the fact that you still live at home and spending money you don't have on a car? Just wanted to make sure I got it right
In some cultures, one lives at home until s/he is engaged/married. Thus, it's normal to have a couple investment properties while living at home, only to either A) purchase a new property once you're engaged to move into or B) kick out a tenant (thus, changing an asset to a liability, but you do need a place to live with your soon-to-be wife).


Btw op, this thread won't come out pretty lol.

Did you lease or buy? payment seems low for a buy.
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      04-04-2014, 12:10 AM   #7
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lolololol boy oh boy
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      04-04-2014, 12:29 AM   #8
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I can't afford my car.
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      04-04-2014, 12:32 AM   #9
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I can't afford your car either!
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      04-04-2014, 12:37 AM   #10
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I can afford all your cars
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      04-04-2014, 12:42 AM   #11
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Mines not that special but its been paid off. Saving for a house now even though I love the apartment I'm in. Great location (pub and wine tasting all walking distance) and no yard work. Have considered getting back into an M3 or another car but then I remember how much I hate car payments.
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      04-04-2014, 04:01 AM   #12
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      04-04-2014, 07:08 AM   #13
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Just depends on your priorities. Anything over a honda civic is not needed. Anything over a 2/3 bedroom home is not needed for a couple with one kid. Anything over a timex watch is not needed. Anything over a cup of coffee at 7/11 is not needed. It's all about how you want to live.
I would say if your goal is to get the house in the suburbs, you should focus on saving for that though. Could get a cheaper sporty car for now and the bmw once you get the house over with.
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      04-04-2014, 07:18 AM   #14
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If you're really currently "attempting to save for a house", WHY would you have a $630 car payment? Over three years you could save over 20k if you didn't have that payment.

Doesnt sound like buying a house is really a priority of yours, then again I have no idea what other investments/savings you have.
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      04-04-2014, 07:40 AM   #15
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Cant believe no one mentioned that fact that he has a 3yo son. Dude needs to get his priorities straight.
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      04-04-2014, 08:03 AM   #16
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Quote:
Originally Posted by gatorfast View Post
Cant believe no one mentioned that fact that he has a 3yo son. Dude needs to get his priorities straight.
This as well.

I'll buy your car, OP.
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      04-04-2014, 08:08 AM   #17
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I'm living well above my means, basically in poverty due to all the things I own and my raging crack habit.
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      04-04-2014, 08:12 AM   #18
E92Atlanta
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Quote:
Originally Posted by The_Tuner_Guy
Quote:
Originally Posted by gatorfast View Post
Cant believe no one mentioned that fact that he has a 3yo son. Dude needs to get his priorities straight.
This as well.

I'll buy your car, OP.
What does my son have to do with it?

I provide everything for him. Daycare, food, clothes, and a place to live. I wouldn't have bought a car that got in the way of me financially providing for him. His mother is in school full time, and I even work extra on the weekends at my old college job to support all 3 of us.

So....what about my son?
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      04-04-2014, 08:13 AM   #19
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Originally Posted by fireline43 View Post
Just depends on your priorities. Anything over a honda civic is not needed. Anything over a 2/3 bedroom home is not needed for a couple with one kid. Anything over a timex watch is not needed. Anything over a cup of coffee at 7/11 is not needed. It's all about how you want to live.
I would say if your goal is to get the house in the suburbs, you should focus on saving for that though. Could get a cheaper sporty car for now and the bmw once you get the house over with.
It is so wasteful to get a cup of coffee at 7/11.
I do fine with bread and water.

Instead of coffee, one can just do jumping jacks.
Jacks you right up!
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      04-04-2014, 08:17 AM   #20
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Kids love BMWs.
I don't see the problem here.
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      04-04-2014, 08:22 AM   #21
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Quote:
Originally Posted by Billup View Post
I'm living well above my means, basically in poverty due to all the things I own and my raging crack habit.
Come on, man. Gotta step it up to coke. You're trying to live ABOVE your means here.
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      04-04-2014, 08:23 AM   #22
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the house is more important than the car. sell it.
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