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/biz/ - Business & Finance


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File: 166 KB, 1024x768, 2008LexusISF-Wincos3020.jpg [View same] [iqdb] [saucenao] [google]
1464109 No.1464109 [Reply] [Original]

/biz/ I need some financial advice on car buying.

>Have 40k in the bank
>Make 45k a year
>Will make 55k-60 next year when I go for promotion
>Dad is master auto technician at Toyota
>I need a new car
>Only thing I like is an lexus IsF
>29k price

Would this be a dumb financial decision considering I don't make much right now? I really want the car and it's basically bulletproof. Only thing I'd need to do is breaks and oil changes.

>> No.1464112

>>1464109

Also I would consider financing the car, not paying cash. Auto loans are so low right now.

Any advice would be appreciated.

>> No.1464114

If u planning on sleeping in dat motherfucker go for it

>> No.1464116

only if you spend the remaining $16000 you plan to make this year on various chains, rims, and jordan shoes

>> No.1464119

>>1464109
>Only thing I like

stop being so dramatic

>> No.1464120

>>1464114
>>1464116

Lol I figured it would be a stupid decision.

Wish I made more money.

>> No.1464122

>>1464119

Go look at the Toyota line and get back to me

>> No.1464123

>>1464116
>This nyugah
You cant jump out of an IS with weak shoe game, no chain game, and stock rims. Go buy lottery tickets to make the money back.

>> No.1464125

>>1464123
>>1464116

Ok then what would be an appointment budget for a car?

>> No.1464131

>>1464125
1999 Honda CRV for u, sir.

>> No.1464136

>>1464125
Not the majority of your net worth, that's for sure.

>> No.1464138

>>1464125
Well seeing as your dad is a fucking toyota mechanic id say get a decently new Camry, price better be lower than 15k even that is pretty high and you dont need it, if I were you id get some 04-05 for cheap as i can and good miles, I thought this post was bait when i first saw it OP. Time value of money nigga.

>> No.1464145
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1464145

>>1464122

A car is a tool to bring you (and maybe some merchandise) from A to B. Given the fact you have a limited budget, don't look for a tool you like. Go for the low maintenance one. Moreover, you have a dad working there. Profit from him. Ask him which model has the least repairs and lowest gas consumption.

>> No.1464149

>>1464145

I live a few miles from work. Gas is not a problem. And the isF is very reliable and no repairs are necessary.

>> No.1464150

>>1464138

Lexus's are Toyota's

>>1464136
Best advice so far

>> No.1464154

Never spend more than ten percent of your gross salary on a car

>> No.1464161
File: 7 KB, 225x225, 190dd9b88a258aefccafbe9ba3eb965e.jpg [View same] [iqdb] [saucenao] [google]
1464161

>>1464149
>no repairs are necessary

Dude, again:
You're heavily biased by your preference for that car. If an ISF needed no repair, it would be the only model on this planet.

Ask your dad 4 sensible advice. Pay it in cash, don't spend more than 15-18k.

>> No.1464167

>>1464161

Even though you're mocking me, thanks for your advice. I appreciate it anon

>> No.1464171

>>1464109
Jesus Christ, OP, you are dumb as hell. OF COURSE THAT'S A RETARDED IDEA. Why the fuck would you blow money on a 30k car you don't need? Why the fuck wouldn't you invest that money?

Dude fuck you. You don't deserve what you have if you're that fucking stupid. Get the fuck off of /biz/.

>> No.1464172

>>1464109
Personally, I would wait for the new Model 3. Same price range, much better car, much faster as well. This is coming from someone who has owned an E92 M3 and an '08 SL65, among other cars, so I'm not some hippy who likes electric cars.

Honestly the Tesla 3 just seems like a much better option.


Now, besides which car you should by, we should consider the price. I am very frugal, and if I was making $40k a year and had $40k in savings, I would probably buy something cheaper.

Look at something like a low milage ("low" for a Toyota) '05-'07 IS300. Those are great little cars, and reliable when compared to their market parallels.

>> No.1464173

>>1464145
Lexus == Toyota
Toyota ==! Lexus

>> No.1464175

>>1464173

???

>> No.1464182

>>1464171

You're right. I'm young and want a new car. I've never had one. But now I'm back to reality.

Short term gains are hard to come by, are you talking about long term investments?

>> No.1464190

>>1464172

Thanks for the advice anon

>> No.1464255

>>1464109
OP is retarded.

>> No.1464310

>>1464125
Keeping to around 1/4 of your before tax income seems to be a reasonable budget for a car, at least here in the uk

>> No.1464418

>>1464310
>1/4 of your before tax income
>UK

So 150% of your after tax income?

>> No.1464426

>>1464418
SAVGE

OP just got BTFO

>> No.1464448

>>1464418
>>1464426

I admire the effort but this board has IDs

>> No.1464451

lease it.

>> No.1464557

>>1464448

kek

>> No.1464608

>>1464109
How the fuck you have 40 in the bank?

I make 65 and have like 20. Fuck people who can still live with their parents.

>> No.1464610

>>1464109
>>Make 45k a year
cars are terrible investments. you should not be buying a car for 29k on your current salary. 10-15k is a more reasonable budget for you.

>> No.1464616

Probably a smarter move than I recently made
>get job in another state
>need to replace my cavalier with 193K+ miles
>buy new civic for 20k
>6k in bank, 60k gross annual salary
probably shouldve just bought something used but whatever, i like the car and i'm hoping it doesn't get rekt/i dont get fired

>> No.1464622

Buy a used car.

No one in their right mind buys a brand new car, you're literally throwing away 50% of the cost.

>> No.1464626

>>1464610
really hoping this is a troll

>spending more than 1/5 of your salary on a car

if you're making less than 100k a year you should have thought twice at school about working hard so you can spend money on shit like expensive cars

the is-f is the performance version of the IS first of all so you can get the exact same car without the tuning for easily 8-10k less.

there are bulletproof econoboxes for 3k that will carry you like a trooper from A to B until the end of time and only ask for oil changes in return. buy one of those to hold you over until you're older and can afford to get the car without anally raping your wallet

>> No.1464648

Lease a Camry or corolla or prius whatever is cheaper for like $120pm after tax

>> No.1464763

>>1464608

Op here, gonna get a used IS 350 for around 15k. Thanks biz for setting me back to reality. I was daydreaming when I made the thread.

>> No.1465304

>>1464763
Still a nice car, anon