U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics > Personal Finance
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 03-22-2013, 10:00 PM
 
9 posts, read 11,737 times
Reputation: 10

Advertisements

I am graduating this May with a professional degree and I secured a job that pays relatively well. All of my close friends think I should buy a fancy car (and I am sure most of my future colleagues drive luxury cars) but I say a honda or toyota will do.

Is there some advantage to conformity?
Reply With Quote Quick reply to this message

 
Old 03-22-2013, 10:01 PM
 
5,619 posts, read 8,549,762 times
Reputation: 7705
Yea, fitting in.


I'd rather be the oddball who retired years earlier than everyone else!
Reply With Quote Quick reply to this message
 
Old 03-22-2013, 10:03 PM
 
Location: Central Texas
13,720 posts, read 25,531,774 times
Reputation: 9216
If you don't have to drive clients in your car, I think a sensible car says more positive things about you than spending money on a luxury car.

A nicely equipped sensible car, well maintained and clean, says a lot of good things. You aren't ostentatious, risky (debt), and pay attention to details.
Reply With Quote Quick reply to this message
 
Old 03-22-2013, 10:28 PM
 
2,135 posts, read 3,679,863 times
Reputation: 1671
If you want to go broke....sure. get that 45k car and that 450k house all while making 60k a year.
Reply With Quote Quick reply to this message
 
Old 03-22-2013, 10:40 PM
 
Location: Florida -
8,763 posts, read 10,837,755 times
Reputation: 16632
A lot of people who were trying to "keep up with the Jones's" ... are now "keeping up with the Jones's debt."
Reply With Quote Quick reply to this message
 
Old 03-22-2013, 10:48 PM
 
9 posts, read 11,737 times
Reputation: 10
I wont drive clients but I may take colleagues to lunch in the car once in a while. Oh and if it matters I will be making in the low $200s. However, I still think a honda accord will do but I want to hear from you all whether there is direct or indirect value "to keeping up with the joneses".
Reply With Quote Quick reply to this message
 
Old 03-22-2013, 11:24 PM
 
504 posts, read 652,890 times
Reputation: 512
It depends. There isn't that much of a difference between a $30k Honda and a $50k BMW, it's just how you choose to spend your money. If you were driving a rusty 20 year old car with stuff falling off that might be a different story.


There are plenty of people who make much more than you who drive very plain cars, just like there are people whose car payment is 1/2 their monthly take home.

But yeah, in certain jobs there is an expectation that someone will dress a certain way and display a ceratin lifestyle and it may count against you if you stray too far from that model. But a nice, new Accord isn't going to be perceived as way off base.
Reply With Quote Quick reply to this message
 
Old 03-22-2013, 11:26 PM
 
24,503 posts, read 35,430,103 times
Reputation: 12832
Quote:
Originally Posted by packer43064 View Post
If you want to go broke....sure. get that 45k car and that 450k house all while making 60k a year.
That just seems careless. One shouldn't be making just $60k/year.
Reply With Quote Quick reply to this message
 
Old 03-22-2013, 11:29 PM
 
24,503 posts, read 35,430,103 times
Reputation: 12832
Quote:
Originally Posted by jj102 View Post
I wont drive clients but I may take colleagues to lunch in the car once in a while. Oh and if it matters I will be making in the low $200s. However, I still think a honda accord will do but I want to hear from you all whether there is direct or indirect value "to keeping up with the joneses".
You only need a certain amount of money to guarantee financial success in 99% of situations. $200k is a decent amount of money to be making but it's not a lot. You're just out of college, so it's not expected for you to be rolling in $$$ yet.

Unless you've managed to save a decent amount of cash already, you should probably start out with a low end car like a Honda Accord or Toyota Camry. A few years down the road when you have a comfortable amount of savings, you can upgrade.

Don't worry about what others say.
Reply With Quote Quick reply to this message
 
Old 03-22-2013, 11:43 PM
 
2,135 posts, read 3,679,863 times
Reputation: 1671
Quote:
Originally Posted by NJBest View Post
That just seems careless. One shouldn't be making just $60k/year.
Plenty of people make around 60k and it is hardly carless. Are you a 1%er?

Just because YOU need to spend 100k a year doesn't mean the rest of America does.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics > Personal Finance
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top