OtherGround Forums At what annual salary woud you...

2/12/18 4:59 PM
5/7/08
Posts: 18667

Drive a 35k car? 

2/12/18 5:00 PM
6/2/14
Posts: 939

175k. 

I would buy a 3 year old 35k car and get it for 27.

Edited: 2/12/18 5:02 PM
12/22/10
Posts: 14974

12k

I would put rims that cost 4k on it  and a system that cost 5k in it, too. 

#BALLIN

2/12/18 5:06 PM
2/13/12
Posts: 2464
dignan -

175k. 

I would buy a 3 year old 35k car and get it for 27.

This is pretty much my thought as well 

2/12/18 5:06 PM
2/29/16
Posts: 980

Probably about $100k. That’s like $500/mo. Plus insurance. 

2/12/18 5:09 PM
1/5/07
Posts: 15181
Depends on other variables. Am I debt free? or am I paying off $100K in student loans? Do I have a family with 5 kids? or am I single and only responsible for myself? What are my monthly bills? etc...
Edited: 2/12/18 5:12 PM
1/1/01
Posts: 38212

I usually make around 100K and am about to buy a 35K tacoma.  Buying one 2 or 3 years old only saves me two grand so that's not much of an option.  I am extremely conservative on my spending but I have no problem doing this.  The last thing I want to do is spend 10 or 15 grand on a vehicle and have it in the shop half the time because it's so old.

EDIT:  I am debt free including mortgage.

Edited: 2/12/18 5:29 PM
6/2/14
Posts: 942
Soup and Beer -

I usually make around 100K and am about to buy a 35K tacoma.  Buying one 2 or 3 years old only saves me two grand so that's not much of an option.  I am extremely conservative on my spending but I have no problem doing this.  The last thing I want to do is spend 10 or 15 grand on a vehicle and have it in the shop half the time because it's so old.

EDIT:  I am debt free including mortgage.

I love the look of Tacoma's but last I checked they are the lease reliable of Toyota models.  

Unfortunately a 35k car ain't what it used to be, those cars are not 50k.  A fucking 4runner can cost 50-70k!

Our combined incomes make us able to purchase whatever vehicles we would want.  We have no debt, 2 children, and have been catching on retirement for years.  The only thing we spend "lavishly" on is our son's sport trips.  He competes at big jiu jitsu tournaments.

So with this ability to choose, and my history of buying a nice Mercedes a decade ago(I sold it after two years), I don't like cars all that much.  I like saying no to shit I could do.

I have to admit driving a Mercedes, BMW, or Tacoma is more fun than the leased Prius I drive, but I have it set up where both of our cars are written off entirely, and our gas expense per month is $150/mo.

 

Something you may want to look into, swapalease or leasetrader where you can take over someones lease for like 100 bucks.  No down payment, no taxes, and if you know how to do proper LLC and bookkeeping you can write the payment off.  You could get a NICE vehicle for like $300-350 a month.


Congrats on being mortgage free.  I ain't. :|

2/12/18 5:30 PM
6/2/14
Posts: 943
garythekid -
Soup and Beer -

I usually make around 100K and am about to buy a 35K tacoma.  Buying one 2 or 3 years old only saves me two grand so that's not much of an option.  I am extremely conservative on my spending but I have no problem doing this.  The last thing I want to do is spend 10 or 15 grand on a vehicle and have it in the shop half the time because it's so old.

EDIT:  I am debt free including mortgage.

I am about to buy something from the early 2000s cause I only have 4K to spend and I’m retarded. Taking a real gamble here, but I need a ride and have no choice. 

Check this out.

2/12/18 5:36 PM
5/14/09
Posts: 2011

Well I just got a new tundra for 32k and my salary with my wife’s was just shy of 200k a year.  I couldn’t believe I was about to pay that for a fucking vehicle but honestly I love the truck and the payments haven’t hurt us.  Until then every vehicle I’ve ever owned was a used pile of shit that I constantly worked on.

2/12/18 5:38 PM
6/2/14
Posts: 945
Twinkle Toes -

Well I just got a new tundra for 32k and my salary with my wife’s was just shy of 200k a year.  I couldn’t believe I was about to pay that for a fucking vehicle but honestly I love the truck and the payments haven’t hurt us.  Until then every vehicle I’ve ever owned was a used pile of shit that I constantly worked on.

Beauty when in you're in that spot.

2/12/18 5:42 PM
11/19/06
Posts: 5132

I don't know.. 35k at 0.00% is much different than 35k at 25%.. so I guess it would depend a lot on credit score. 

2/12/18 5:43 PM
8/20/03
Posts: 129911

I wouldn't spend 35k on a car.

2/12/18 5:50 PM
11/19/06
Posts: 5133

Also where at? Mid west 100,000 goes a lot farther than LA 100,000. Also tally expenses and need for said vehicle. If you are just driving to a fro a job.. I see no need for 35k unless you are a baller. I myself need a diesel truck. I can justify paying 40,000 for a 2014 Cummins with air conditioned seats on 35"s. Because I use it for my business.

2/12/18 5:59 PM
10/31/11
Posts: 8343

Gonna drive my 2011 manual transmission Honda Civic with shitty looking hub caps until the wheels fall off. Guy I carpool with has an accord with 350,000 miles on it and refuses to buy a new car. He makes around 90k. 

2/12/18 6:02 PM
11/12/07
Posts: 22588

Depends on how much debt I had and my rent/mortgage payment. 

2/12/18 6:17 PM
9/20/14
Posts: 509

Just bought 35k Acadia 2017 make about 110k a year could afford more that was my limit I set for myself 

2/12/18 6:42 PM
11/1/03
Posts: 15315

I think it depends on where you are in life as well as salary. I'm 68 if i was making 50k i could see myself buying a 50k car. Would have to be something that moved me.

2/12/18 6:50 PM
11/5/03
Posts: 19170

If you can't pay cash for it without blinking, you can't afford it.

If you're OK with that, we'll then that's Kool & The Gang. 

2/12/18 6:52 PM
10/30/05
Posts: 3200
B Sharps - Depends on other variables. Am I debt free? or am I paying off $100K in student loans? Do I have a family with 5 kids? or am I single and only responsible for myself? What are my monthly bills? etc...

.

2/12/18 7:00 PM
4/5/07
Posts: 8406
Soup and Beer - 

I usually make around 100K and am about to buy a 35K tacoma.  Buying one 2 or 3 years old only saves me two grand so that's not much of an option.  I am extremely conservative on my spending but I have no problem doing this.  The last thing I want to do is spend 10 or 15 grand on a vehicle and have it in the shop half the time because it's so old.

EDIT:  I am debt free including mortgage.


Bought my wife a Kia a while back for $4k. It went for about 5 years with no major repairs. In 2006 I got an '04 Ford Ranger, still driving it today, no major repairs. About 3 years ago we got a Honda Pilot for $15k, no repairs yet and we've towed a camper and done several long road trips.

This idea that you have to have a $35k+ vehicle to keep it out of the shop is just an excuse to spend too much on a vehicle.
2/12/18 7:01 PM
6/24/07
Posts: 2857

I’m not a car guy. So, it would have to be significant. I already make a good living. But, I drive very modest cars. I like to spend my money on travel and my children. Cars are a waste of money to me.

2/12/18 7:05 PM
4/8/07
Posts: 37714

i have a coworker who got a new car this weekend.  i was thinking today, in the 10 years i've known her, she had a new tahoe, then got a new durango, then got a new VW bug convertible, then got a new 4 door jeep wrangler, then got a new CRV this weekend.  so in 10 years, 5 vehicles.  i paid 8k in cash for my truck over 10 years ago and my wife has had 2 vehicles in that time period.  i'm glad my wife is like me and really doesn't give a fuck about vehicles.    

my coworker was telling me she was upside down on the jeep she traded in, but wanted to get rid of it because she was spending too much in gas.  it's crazy to me people who swap out vehicles every year or two.  i used to work in auto insurance years ago and many of the people with total losses were upside down on the loans.  

2/12/18 7:06 PM
2/4/11
Posts: 3060
dignan -
Soup and Beer -

I usually make around 100K and am about to buy a 35K tacoma.  Buying one 2 or 3 years old only saves me two grand so that's not much of an option.  I am extremely conservative on my spending but I have no problem doing this.  The last thing I want to do is spend 10 or 15 grand on a vehicle and have it in the shop half the time because it's so old.

EDIT:  I am debt free including mortgage.

I love the look of Tacoma's but last I checked they are the lease reliable of Toyota models.  

Unfortunately a 35k car ain't what it used to be, those cars are not 50k.  A fucking 4runner can cost 50-70k!

Our combined incomes make us able to purchase whatever vehicles we would want.  We have no debt, 2 children, and have been catching on retirement for years.  The only thing we spend "lavishly" on is our son's sport trips.  He competes at big jiu jitsu tournaments.

So with this ability to choose, and my history of buying a nice Mercedes a decade ago(I sold it after two years), I don't like cars all that much.  I like saying no to shit I could do.

I have to admit driving a Mercedes, BMW, or Tacoma is more fun than the leased Prius I drive, but I have it set up where both of our cars are written off entirely, and our gas expense per month is $150/mo.

 

Something you may want to look into, swapalease or leasetrader where you can take over someones lease for like 100 bucks.  No down payment, no taxes, and if you know how to do proper LLC and bookkeeping you can write the payment off.  You could get a NICE vehicle for like $300-350 a month.


Congrats on being mortgage free.  I ain't. :|

laziest IRS agent ever asking...

 

how do you setup a "proper LLC" if you are a w-2 wager earner?  What is your source of revenue?

 

when I am not chasing down tax cheats on MMA message boards,  I also have a 2nd full time job leasing commercial vehicles so I am well aware of the tax benefits of leasing.  I just dont know how to setup a "proper LLC" when I have no source of business revenue that I can run through it to offset the business expenses.  As far as I know, the IRS does not take kindly to people who run shell companies that only lose money and dont generate any revenue.  

2/12/18 7:07 PM
10/13/05
Posts: 5642

The type.and price of the car u drive depends on lots of factors. If u are an enthusiast, bThen. U might not have much issue with spending a higher proportion of. Ur salary in owning a nice car.

If u commute to work and aren't a car person then A cheap beater might be ok

Also, if u own businesses, then u would lease a car and depending on the revenue and cash flow of ur business then that would determine the budget

This question isn't an easy one to answer. Too many variables

I drive a relatively expensive car, but it's leased. Thru my business, I turn over cars every 5 years or so, I don't have kids, I like nice cars, I have no other expensive interests. 

So it depends.