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I have seen many folks think a 450-600 a month payment is doable. Then add 150 for insurance....120+ for maintenance....300 gas.....Then your REALLY talking closer to a G+ a month.
Being somewhat frugal i cant justify spending major money on what will essentially be a toy so i usually prefer used versions.
If you want a sports car to carve up twisty roads then a nice used Miata can be had for under $10K.
If you view your sportscar as a straight line affair a used Mustang with a big V8 will do the trick,price would depend on how much horse power you want.
It all depends on your vision of a sportscar and what you want to do with it..
If buying a new well equiped camaro, challenger, nissan 370z or mustang i'd imagine $500 a month would be in the ball park.
I have seen many folks think a 450-600 a month payment is doable. Then add 150 for insurance....120+ for maintenance....300 gas.....Then your REALLY talking closer to a G+ a month.
People will have gas with any car so that's negligible (and in comparison, many sports cars get mid 20's on the highway so that's better than suv's or trucks)
As for maintenance, that also depends. I bought a 2004 mustang GT (40th anniv. competition orange, 30k miles, 5 spd, mach 1000 stereo) in 2008 for 17k. My payment was 275/mo. In the 70k or so miles I put on it over the next few years, I: changed oil at 4000, changed rear diff fluid once, replaced starter (or alternator, can't remember) once, changed tires once. Other than that, zero maintenance.
Yes, it was a 4 year old car, but it was loaded with low miles, but it was cheap and easy to maintain.
So, depending what the person wants (sounds similar to my Mustang) and whether they buy new or used, you can be sitting ok..
Now if you want the Camaro ZL1, or Mustang GT500, that will be a different story.. These cars he lists range from a good one used for 20k, or a top model at 65k new..
So, to the OP, need more direction.. I think a good condition, used mustang, for around 20k could be afforded by someone who makes 50k a year no problem if they have good credit and finance it out for 4-5 years, in which case they should have a lot of trouble free miles..
But if you went to the finance forum, they would say you need to make 200k/year to drive a $20k car.. So it all depends what your financial goals are, etc.
Don't list a bunch of cars with prices that could be all over the map. Give us a budget for a car and that'll be a lot easier to determine whether you can afford it or not.
I know a school teacher who bought a 370z nismo (40k?) with a salary of 23k. Not sure what she was thinking but living at home helps.
That's both kinda dumb and kinda cool at the same time.
Though I hope she's not like many people I've known who claim that they live with their parents because they're "saving up for a house," and then blow every penny they make on luxury items.
I know a school teacher who bought a 370z nismo (40k?) with a salary of 23k. Not sure what she was thinking but living at home helps.
I am glad you are taking notes
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