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Do I purchase a 60k car as a new grad?

Facebook sheckwes
Nov 13

Graduated earlier this year. I was thinking of buying a used porsche cayman or 911 for 50-60k. I’ve only been working for a few months but the financials seem to work out. No student loans or debt. I can max out my 401k and Roth and still have room for the $1,000 a month loan payments. Is this a good idea or am I being a fucking idiot?

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  • Microsoft Underover
    Live it up! You’ll also get laid way more often in a Porsche!
    Nov 138
    • Uber / EngoOBb03
      A nice bed in a nice house is way more effective.
      Nov 13
    • Amazon / EngDoorStep
      I literally don't know any guys that have gotten laid because of their cars.

      How do you even bring up you Porsche into the first conversation without sounding like a douche?
      Nov 13
    • Lyft rpMF46
      What kind of cars do they have? i8 will get you laid way before you even think about it.
      Nov 13
    • Uber / EngoOBb03
      Is that the culture at Lyft?
      Nov 13
    • Lyft rpMF46
      Nope, not at all. Why would you correlate what I said to Lyft though?
      Nov 13
    • Uber / EngoOBb03
      No reason. I'll keep my methods secret.
      Nov 13
    • Google / Othersnidely
      Lyft vs Uber! Oh snap!
      Nov 14
    • Lyft rpMF46
      Lol, seriously. Amazon got cockblocked in collateral damage.
      Nov 14
  • Atlassian / Eng
    Luffy, M.D

    AtlassianEng

    PRE
    Facebook
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    A prematurely grumpy somewhat old man
    Luffy, M.Dmore
    You're being a fucking idiot. Get a short term cheap lease on something practical, save the difference in cash for a year or two and see if you still want to put the remaining $10-20k to the luxury or sports car when its writing one big check
    Nov 130
  • Airbnb jim.hodlen
    just live your life
    Nov 130
  • eBay eyxitsjtj
    My 2 cents - A Porsche looks fine on a driveway of a million dollar house, not under a Carport.
    Nov 133
    • AMD
      5nm

      AMD

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      Intel
      5nmmore
      Well a million dollars will get you a condo with a carport😊... in most places in the Bay Area
      Nov 13
    • eBay eyxitsjtj
      If you read between lines what I am saying is first save enough to afford that house (not condo) then Porche can follow.
      Nov 14
    • AMD
      5nm

      AMD

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      Intel
      5nmmore
      😊
      Nov 14
  • Adobe PalmTrees
    As a Porsche owner and with your financials laid out, I say go for it.

    But, before that happens, what’s your housing situation? Emergency funds?
    Nov 134
    • Facebook sheckwes
      OP
      I’m renting for my housing right now and I don’t have plans to purchase a house anytime soon. I have enough for $7,500 emergency fund but not sure if thats enough.
      Nov 13
    • Oracle / Engyo6dc
      Better save more. How about wait for one more year and get a 992?
      Nov 13
    • AMD
      5nm

      AMD

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      Intel
      5nmmore
      You need to have at least 6-8 months of living expenses, before making a large purchase.
      Nov 13
    • Adobe PalmTrees
      Definitely build up the emergency fund as you drive your Porsche 😉. But, with all your other numbers, go for it. Some might disagree with that, but you have no debt and are maxing our your 401K.
      Nov 14
  • OneMarket crazyoldie
    Buy it and enjoy. I drove a nice car when I was younger (before kids, marriage, insurance, house etc). 100% I would do it again. Even if you are able to buy it later, you are young only once.
    Nov 130
  • Cisco ChecksOut
    If you want everyone to think you’re compensating then sure
    Nov 130
  • Oracle / Engyo6dc
    Go for it. Sell it in two years if you need money. Porsche cars hold their value really well. Sometimes the cost of ownership is even lower than some Japanese shitbox.
    Nov 130
  • Bloomberg rope
    Down payment on a condo + a motorcycle vs a Porche. Nice, ya go for it dude.
    Nov 135
    • Yelp / Eng5*
      Lol, no condo in the Bay.
      Nov 13
    • Bloomberg rope
      Look around you can get a place 350k. At 20% OP is pretty much there. Might not be the NEMA but it's starter real estate.
      Nov 13
    • F5 Networks / Eng1u2ir8v3f7
      But I thought buying condo isn't a great idea?
      Nov 13
    • Bloomberg rope
      Vs a detached house maybe it's less economical, but OP is talking about a sports car. There are few investments that will guaranteed - 50%, but that's one of them.

      Condos are fine so long as they're not 100 year leases and the fees are decent.
      Nov 13
    • AMD
      5nm

      AMD

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      Intel
      5nmmore
      $350K in the Bay Area will get you a spot in a garage.
      Nov 13
  • BlackBerry / Other
    CFederighi

    BlackBerryOther

    BIO
    Putin is my bitch
    CFederighimore
    Cars are so overrated. You may be better off saving for a house
    Nov 130
  • Microsoft QpwEa/w3=
    So dumb. Yes, do it. So people can spot your douchebaggery from a mile away.
    Nov 130
  • Twitter Wax paper
    i only buy used cars with all cash. Anything else is retar.ded
    Nov 133
    • New / Engcato
      That’s fine if you’re a great mechanic, but it’s not the only way. Leasing is great for some
      Nov 13
    • Oracle / Engyo6dc
      Not for Porsche. They have really bad lease terms. However they depreciate really slow so buying one is fine and the actual cost of ownership per mile is pretty low.
      Nov 14
    • New / Engcato
      Yeah sorry wasn’t thinking of Porsche, more like Honda 😂
      Nov 14
  • Uber Sentinel
    Buy Tesla Model 3.
    Nov 130
  • Dropbox pol
    Save up for a house or condo first. Car depreciates
    Nov 130
  • Lyft rpMF46
    Go for it. You'll see people saying that it's a bad move but don't listen to them. You can always earn money. Go for the experience.

    Is it considered a bad move? Mostly yes because cars are generally a bad investment when you're starting your career.
    Nov 130
  • Apple EXQB54
    Definitely being fucking idiot. You don't have enough savings if shit hits the fan. Buy the car only if you can afford to wreck two of them and be alright financially.
    Nov 142
    • Facebook sheckwes
      OP
      How much savings would you recommend?
      Nov 14
    • Apple EXQB54
      At least 2x the price of the car
      Nov 14
  • Intel Scarface
    Being in a California you can ride a motorcycle most part of the year. Riding a motorcycle and having a cheap Japanese practical car won’t burn your wallet and is on par cool and exciting is what I think.
    Nov 131
    • Atlassian / Eng
      Luffy, M.D

      AtlassianEng

      PRE
      Facebook
      BIO
      A prematurely grumpy somewhat old man
      Luffy, M.Dmore
      This. An inexpensive 650-750cc sports bike is under $10k new and will out accelerate most of those $60k cars and get through traffic quicker for your commute.

      A used Gladius will be even cheaper, 3.5s to 60 and probably closer to 5k than 6k.
      Nov 16
  • Google / Othersnidely
    Better to make stupid decisions when you're young. The first time you need an out-of-warranty repair on it you'll know exactly what I meant.
    Nov 131
  • I assure you this will be one of those purchases you’ll look back in and ask what the hell you were thinking.
    Nov 140
  • Amazon Northman
    This guy fucks.
    Nov 140
  • Boeing / OpsAirbus
    definately go for it. 3-4 years from not you wont be the same. Same porsche will not excite you as much
    Nov 130
  • Amazon BB!
    Do some financial planning. You're not as rich as you think you are
    Nov 130
  • Amazon / Eng多撚餘
    911 is a mid life crisis car. Are you having it early?
    Nov 211
    • Adobe Downbeat
      Not a midlife crisis car if he’s a car buff.
      Nov 26
  • Amazon ranald
    TC?
    Nov 141
    • Facebook sheckwes
      OP
      somewhere around ~200k but probably less since stock isn't doing so hot
      Nov 14
  • Deloitte / Consultant
    ayyylmao

    DeloitteConsultant

    PRE
    Deloitte
    ayyylmaomore
    You’re being a fucking idiot, but if the financials work, do what you want. I’d spend $1000/mo very differently, personally.

    This will be a huge albatross around your neck if you ever want to buy a place, though.
    Nov 140
  • PayPal YoBroo
    Go for it! YOLO! You can make money later! Enjoy your life!
    Nov 130
  • Console Connect / OthergqDS15
    Fair.com until you can be an accredited investor.
    Nov 130
  • Intel Ynot231
    No no no no no no no.. in case I wasn’t clear, NO! First of all, a cayman isn’t a real car. Get a Jeep and enjoy the beautiful Cali weather. Invest that money elsewhere. Splurge on cars later.
    Nov 130
  • Cisco bitset
    Buy amazon stock if you have so much money. You can go various places using Honda/ Toyota. Why spend 3x when you don’t need to
    Nov 130
  • New / Engcato
    Buy a truck, then you can get a motorcycle/dirt bike/mountain bike, etc. more options, more fun
    Nov 130
  • Apple Magikarp16
    I wouldn't have done it.
    Nov 130
  • IBM
    83638269

    IBM

    PRE
    Blue Origin
    83638269more
    Why would you even want a Porsche in the bay area? I get it if you live in LA.
    Nov 130

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