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first thing is you should not be stretching to buy any car. Give yourself a cushion for retirement savings and regular savings. The earlier you start saving in earnest, the easier it will be to get a nice nest egg.
DO NOT fall victim to the marketers (which includes the car magazine reviews). I have driven the new model passat and it's a terrific car. Unfortunately, part of car ownership includes maintenance and volkswagen is notorious for needing lots of repairs such that owners typically trade their cars in shortly after one or two large ticket repairs. If you are handy volkswagens are great used cars, otherwise avoid them like the plague.
if you are looking for interior volume and a great power to weight ratio for quick acceleration purchase the cheapest car you can find that satisfies those criteria. Don't be afraid to look at the previous generation since the latest generation will be old within a few years anyway. Narrow down your choices by comparing the specs then go sit in one and test drive it.
I personally love the fusion's styling and would consider a used one once the current generation gets replaced.
Avoid infiniti, mercedes, bmw for the same reasons you should avoid volkwagens. Maintenance can be costly.
I think next time I'll just ask what people prefer and why between cars instead of going into detail about potential salary. Buying a car is still a ways off given my current situation and I was just looking for opinions on different cars. Not what people think I need to do with my finances. If I make 40-45k a year and decide to buy an audi, hey that's on me. Given my other expenses and experience with friends who could afford it comfortably I think I'll probably be fine if I do.
Don't feel bad. The problem is your pre-frontal cortex has not yet fully developed and you are unable to make the considered choice that I and several other posters have given you based on our own life experience.
I was once in your shoes. Bought a brand new sporty car with my first job out of college. Made the same poor choice and bought an Audi brand new with my wife's first bonus check.
Bought a new Volvo after first year of marriage. It was expensive , twice what my new Pontiac cost a couple years earlier. Volvo cured me of European cars. Was fun to drive WHEN it worked but left us stranded more times than I can imagine. Glad we had AAA. Parts were expensive and finicky. Sold it and bought a new Accord thinking it wouldn't last, kept it for 14 years and still looked and ran good.
Despite what this board groupthinks, there's nothing wrong with a car payment. If you're in an area that has little to no public transportation, it's worthwhile to buy a reliable car. Oftentimes these days, new cars aren't that much more, factoring in incentives, than a similar used car.
Assuming the OP has to finance, a Mazda3 can be had for $300-$350 a month, which is perfectly reasonable on that salary. If OP bought a new one, then that should be a car that lasts a long while, has very little in the way of maintenance or repairs, and is very fun to drive. I traded in my Mazda3 for a BMW, so I can knowledgeably say that a Mazda3 is about 85% as fun and a great budget car if you car about fun handling.
I don't know, I used to make a similar income and had to drive a hand me down vehicle I got for free. Luckily it was a very reliable model and well maintained, so I was able to make it last for a little over 5 years. I don't see how anyone at that income could swing a $300-$350/month payment unless they are in a living situation where they pay no rent or mortgage.
Don't feel bad. The problem is your pre-frontal cortex has not yet fully developed and you are unable to make the considered choice that I and several other posters have given you based on our own life experience.
I was once in your shoes. Bought a brand new sporty car with my first job out of college. Made the same poor choice and bought an Audi brand new with my wife's first bonus check.
Now, I know better.
You should also know based on life experience that you shouldn't make assumptions about someone based on what little you know. I know based on life experience when someone is being a bit passive aggressive.
I don't know, I used to make a similar income and had to drive a hand me down vehicle I got for free. Luckily it was a very reliable model and well maintained, so I was able to make it last for a little over 5 years. I don't see how anyone at that income could swing a $300-$350/month payment unless they are in a living situation where they pay no rent or mortgage.
40k a year could easily afford that. $600 dollar apartment, $600 for both car payment and insurance together still leaves roughly $1300 or so left over.
40k a year could easily afford that. $600 dollar apartment, $600 for both car payment and insurance together still leaves roughly $1300 or so left over.
Not too sure about your math. Did you factor in income tax (state, federal, SS, FICA), health insurance (medical, dental, vision, prescription), rent or monthly home payment, rent or home insurance, electricity, water, phone, gas, car insurance, gasoline, food, and other things? All these things, depending on where you live and how many people are in your family, can quickly add up.
Agree....after I bought mine used I was going to get a small ding taken out of it and the body guy said "This is a pretty sporty car!" And I replied "This is my WINTER car - I usually drive my RX8!" But yes, it is sportier and feels good to drive. It also has a LOT of space - the back seat folds down completely and you can get a lot inside.
Narrowed it down to Acura TL, Honda Accord and Infiniti G37, all 2013 models. The Accord is an ex-l v6 trim, G37 is the sedan, TL has the tech package.
There is also a 2015 ford fusion titanium that is going for a pretty good rate, but has almost 40000 miles on it. Not sure about that one yet.
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