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View Poll Results: How much should you make to buy a 50-55k Car? 1M for example
around 50k annually 7 7.78%
80k annualy 18 20.00%
100k or more 52 57.78%
Cash cars only 6 6.67%
Shouldn't spend this much on a car 7 7.78%
Voters: 90. You may not vote on this poll

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      06-26-2015, 09:21 AM   #67
DJKapeesh
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Thank you,

very useful opinions. They can be found inside the Blog if your interested or want it removed please lmk and I will
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      06-26-2015, 09:24 AM   #68
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Quote:
Originally Posted by CANGRKE70 View Post
I thought you were being transparent?

So tell me how you're going to afford a down payment on not one but two properties and a new BMW with your "example" scenario.

I hear lenders in the USA are used to giving money out, but not for 2 houses and a BMW to people who have 58M (student loan, car) unsecured loans, 6M in assets and make 80M a year.

You seem to just be pissing money away...renting, buying a BMW to say look at me look at me...you're like the male version of Sara504

Do what you think is right, but the government is NEVER going to forgive your student loan. Keep paying the minimum payment, sure high utilization never hurts a person's credit bureau right?

At the end of the day you came her asking for information, don't get sour when people reply with what you need to hear as opposed to what you wanted to hear.

Best of luck at learning how to win a life!
Great information and advise here (minus some stuff)

Will be using it and rephrasing this thank u. U also make some good points I will consider for myself.
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      06-26-2015, 09:35 AM   #69
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Hey..., I'm still waiting on the spreadsheet. I was the only one who gave you information. I expected results.
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      06-26-2015, 09:40 AM   #70
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      06-26-2015, 09:50 AM   #71
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Quote:
Originally Posted by DJKapeesh View Post
Great information and advise here (minus some stuff)

Will be using it and rephrasing this thank u. U also make some good points I will consider for myself.


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      06-26-2015, 10:13 AM   #72
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why is this posted in multiple forums?
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no signature. except for this one.
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      06-26-2015, 10:19 AM   #73
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Originally Posted by gtron View Post
why is this posted in multiple forums?
first one was asking a different question and posted in a non automotive forum when it was an automotive question
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      06-26-2015, 12:11 PM   #74
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Nobody wants to be transparent because capitalist society will breed selfishness and many want to have the upper hand on others.....these questions are better asked in communism utopia.
However if your good in math and can consider a maintenance/repair cost algorithm and have a few bucks stacked away and are able to put more away, life favours your success.....your good to go and good luck.
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      06-26-2015, 12:12 PM   #75
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Quote:
Originally Posted by Needbmwpartzz View Post
Nobody wants to be transparent because capitalist society will breed selfishness and many want to have the upper hand on others.....these questions are better asked in communism utopia.
However if your good in math and can consider a maintenance/repair cost algorithm and have a few bucks stacked away and are able to put more away, life favours your success.....your good to go and good luck.
Comrad Stalin says, "all your money now belongs to us".
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You can detect right away those that are going to be shaky, and that will fall behind and those that are very hungry, and that hunger you will have to develop. You gotta create a goal for yourself whatever that may be, a short term goal and a long term goal and you gotta go after that. And if you donít see it, and if you donít believe it, who else will?
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      06-26-2015, 12:14 PM   #76
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Quote:
Originally Posted by Delta0311
Quote:
Originally Posted by Needbmwpartzz View Post
Nobody wants to be transparent because capitalist society will breed selfishness and many want to have the upper hand on others.....these questions are better asked in communism utopia.
However if your good in math and can consider a maintenance/repair cost algorithm and have a few bucks stacked away and are able to put more away, life favours your success.....your good to go and good luck.
Comrad Stalin says, "all your money now belongs to us".
In utopia Comrade Stalin is just a good fellow brother.
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      06-27-2015, 12:12 AM   #77
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IF you are financing the car, it is very important that you will have a constant stream of income (passive and active) to pay for it, while you save and pay off your debt.

If not, I would go with safer route. There is no shame driving a $3000 car. After you save/invest bunch,you can reward yourself with $300k+ cars?
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      06-27-2015, 09:01 PM   #78
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I bought a P1 and I make $25k/year
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      06-28-2015, 08:50 AM   #79
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Quote:
Originally Posted by MrPrena
IF you are financing the car, it is very important that you will have a constant stream of income (passive and active) to pay for it, while you save and pay off your debt.

If not, I would go with safer route. There is no shame driving a $3000 car. After you save/invest bunch,you can reward yourself with $300k+ cars?
Or just live on the edge of financial ruin like I've chosen to. It's a lifestyle choice. I follow the Stanley plan.

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      06-28-2015, 02:16 PM   #80
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Interesting read. Interesting
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      06-28-2015, 06:42 PM   #81
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I think the real question is what YOU want. Income, savings and debts are really irrelevant when applying this to enthusiasts. Though I do understand what you are trying to accomplish.

How “enthusiastic” are you to own a 1M? How much of your income are you willing to sacrifice for the “fun” of owning one? As with any interest, you have to pay to play. Having a larger income just makes it less painful…

Best advice; apply as much wisdom to your finances as possible to allow yourself the ability to pursue your passions. It’s really up to you.

Ramen and a 60k car or
Steak and a 28k car

Mon Income - $$$$$
Bills - $$$$
Remainder - $$$$
Family (trips, gifts etc.)?
Savings?
Car?
Sports?
Hobby?
Charity?

It depends on what is most important to you.
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      06-28-2015, 08:01 PM   #82
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Are you American? If so, load up with as much as debt as possible buying shit you don't need with money you don't have. Otherwise, the terrorists have won.
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      06-29-2015, 09:06 AM   #83
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Quote:
Originally Posted by DJKapeesh View Post
Hey guys,

let me start by saying this is a project I have been working on a while to put together some sort of reference material for young car enthusiast who are thinking about buying a car.


-I'm asking you to please describe what car you bought?
-What was the price of the car? Monthly payment amount?
-How did you buy the car? (100% Finance or 50/50 Cash finance ect?)
-What is you income and is this car affordable?
-Lastly what do you have in the bank? (Stock, savings, IRA, ect)?

If you wish to provide the information anonymously feel free to do so here: Wordpress BLOG

For my own personal use I would like to know what my finances should be before buying a 1M and how I should go about buying 1?

If you offer your contributions to this I will be using them at a later time to provide a write up for young generation X Y and millennials.

Thanks guy!
Your post completely ignores debt to income ratio, which is the most important factor.

You can make $100k+/year and not have enough money to buy groceries depending on what your debt to income is.
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      06-29-2015, 09:33 AM   #84
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Quote:
Originally Posted by NickyC View Post
Are you American? If so, load up with as much as debt as possible buying shit you don't need with money you don't have. Otherwise, the terrorists have won.
lmao

u guys are all awesome for participating, BLESS

I have posted a few responses on the BLOG that I selected
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      06-29-2015, 10:18 AM   #85
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Quote:
Originally Posted by DJKapeesh View Post
lmao

u guys are all awesome for participating, BLESS

I have posted a few responses on the BLOG that I selected
You are pushing this blog so hard...
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      06-29-2015, 10:23 AM   #86
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Quote:
Originally Posted by DJKapeesh View Post
lmao

u guys are all awesome for participating, BLESS

I have posted a few responses on the BLOG that I selected
What's the link to the blog?
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You can detect right away those that are going to be shaky, and that will fall behind and those that are very hungry, and that hunger you will have to develop. You gotta create a goal for yourself whatever that may be, a short term goal and a long term goal and you gotta go after that. And if you donít see it, and if you donít believe it, who else will?
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      06-29-2015, 10:34 AM   #87
DJKapeesh
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Quote:
Originally Posted by P1et View Post
You are pushing this blog so hard...
No I'm not trying to PLUG it,

I don't want to put anyone response up there that doesn't want it there. That's why I'm notifying you to let me know if you want it down.

It's linked in the original post
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      06-29-2015, 11:42 AM   #88
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I work at Taco Bell in Mexico City and I make $2 a day American.

I am shunned to be at a place where real Mexican food is made but I serve burritos and tacos made the American way.

I have barely 2 pesos to rub together from month to month but I still have enough to buy a slightly used and only 2 people found dead in BMW 335i. The black interior really hides the blood stains.

I am happy!
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I am just here to help!
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