What careers or salary levels correlate to comfortably buy cars in this range? #personalfinance
TC is 310k, I drive a 70k car now. No skin off my back. Comprehensive insurance and liability is cheaper than just liability on my 12 year old 5k shit box. (Insurance had a hard time explaining that to me...) If you like cars and save your money, easily doable once you hit above 200k take home post tax. Just remember it is a deprecating asset. NW: 300k not counting car, 4 YoE, promo inbound.
My friend took out a 70k loan for a Tesla. He is a DevOps engineer with 140k TC.
Isn't it just 20k more than an average car purchase price in US?
Unfortunately yes. Manufacturers are pushing expensive models, there's lack of choice on cheaper models. Dealers are light on inventory so options on trim are fewer. People are willing to pay over sticker price. There are deals on EVs. New car prices are through the roof
A Civic EX is around 30k now Wtf is this time
$70k is really not that much; any SDEs should easily afford it (if they don’t have a lot of loans) I drive a ~$300k car. The only amount that was out of pocket- down payment. It was around 60k. I use my passive income to pay off my monthly payments + insurance + expenses So, your NW or passive income streams matter most.
I’ve always driven a car that costs 1-2 months salary. I figure if I can’t replace it in a couple paychecks I’m probably driving too much car.
As long as you can afford $1000 to 1500 payment a month
I made $370k last year, $80k car with $800k house
Probably made 330 last year. 77k car
Most people can afford it, just most people on blind are so obsessed with TC and NW they only see a car as a depreciating asset and not something that could make your journey from a to b better. Also people on blind don’t go past 60mph anyway
Isn't that a compliment? Unless you truly enjoy cars, buying a fancy car just to show you have a big shlong is the reason why we're talking about student loan forgiveness in this country.
No. Most of the time it's not about showing off. Real car owners enjoy their cars instead of showing off.
Most people on blind can. It's a question of do you want to put that much money into a depreciating asset.
Rarely are material wants not depreciating assets, gotta live a little and be willing to lose some $ (if you truly enjoy having a nice car)
Food is also a depreciating asset. Trying to make everything about savings is not that bright.