Buy a car for my dad

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irnsifh83

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BIO
5’2” Indian
irnsifh83
Aug 8, 2019 20 Comments

I’d like to buy my pops a car.

How much should I have saved / disposeable income to do it and still stay financially stable? What are the considerations?

TC: 305, but salary is 155, rest is bonus and stock. car payment for the car im eyeing would be ~30% of my rent.

I have ~40k liquid, but I’d like to make a decent down payment and have not crazy monthly payment.

Car would be ~45k total. Unsure if I should sell some stock.

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 TOP 20 Comments
  • Dont really have any advice but you're so nice for wanting to do this. One day I want to buy my mom a house too.
    Aug 8, 2019 3
  • New / Eng
    QTdN03

    New Eng

     QTdN03
    Do NOT buy something for someone else that you’d have to make payments on.
    Aug 8, 2019 4
    • New / Eng
      QTdN03

      New Eng

       QTdN03
      For your kid, buy the cheapest car with a 10 star safety rating—they will likely put some dents in it.
      Aug 8, 2019
    • New / Eng
      QTdN03

      New Eng

       QTdN03
      For your dad, make sure it’s something he wants. He might be happier with all expenses paid international vacation.
      Aug 8, 2019
  • Pear Therapeutics
    prez.trump

    Pear Therapeutics

    prez.trump
    300k tc. U should be able to buy 10 Corollas, 6 Tesla's, or 1 porche.

    U can do it
    Aug 8, 2019 2
    • Google
      MrBenDover

      Go to company page Google

      MrBenDover
      You want him to live under a bridge for the rest of the year ?
      Aug 8, 2019
    • Pear Therapeutics
      prez.trump

      Pear Therapeutics

      prez.trump
      So be it if he wants to buy that many cars for his dad
      Aug 8, 2019
  • Intel
    Kitten420

    Go to company page Intel

    Kitten420
    Screw QTdN03 ... It's a good thought, get your old man a fancy toy if you want to.
    Aug 8, 2019 2
    • New / Eng
      QTdN03

      New Eng

       QTdN03
      Shit happens in life. People lose their jobs and their fortunes every day. I’m speaking from experience. Never give someone a gift that could potentially be repossessed by the bank if life turns upside down.
      Aug 8, 2019
    • Intuit
      booperino

      Go to company page Intuit

      booperino
      Then don’t lose your job or your fortune.
      Aug 8, 2019
  • Samsung
    chajimogo

    Go to company page Samsung

    BIO
    Stressed out but surviving
     chajimogo
    Whether you wound up buying something with the advice given on this thread, you are a good man. I am sure your dad is happy and proud of you. 👍
    Aug 9, 2019 0