ok so I just graduated and have been working my job for about a month now. one of my biggest motivators through school was to be able to buy a nice car, I would always spend countless time just looking at cars i wanted for sale during my time in school now i graduated and make 120k, can i afford a 60k car? Assuming no debt, and about $750 rent, $150 utils. im looking at a c63s #tech
I mean you can if you really want to
Rule of thumb is 1/3 on cars and 3x in house
Lol at 3x house
It’s more like 1/10 for car 5x for house…
Yes, why not
You can but should you?
If you’re trying to get people to tell you “yea that’s a financially prudent decision”, it’s not gonna happen
I bought Tesla model 3 for 57k in 2018 when I was making 120k, I paid it off and my TC is 220k now, still feels like a new car, enjoyed it over the years. You do you.
Who buys a glorified Corolla for 57k ?
when did you pay it off completely?
It's your money!
You could, but probably not a great idea. I would put your budget closer to 30-40k.
Do it my guy, you're only young for that long. Money will come.
But the easiest money comes from compounding growth on early-career investments.
Bad idea