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I am a young professional (mid-20s) who is looking for a car (either lease or buy - haven't made up my mind yet) for my work commute. I have a decent amount of disposable income and can budget for an all-in monthly cost for a car (including insurance, gas, maintenance etc.) anywhere from $1,000 to $2,000
I have been looking at cars like the Porsche Cayman, BMW M3, Nissan 370Z, Audi A5, BMW Z4
My ideal car would be relatively inexpensive (no Ferrari's or Lambo's obviously), fast yet comfortable for a 30-45 minute city commute, if used, then not more than 20k miles on it, not a four door, and something that is not too over the top (like a Mustang Boss, since my work place is quite conservative, and I don't want my car to scream in the parking lot)
Realize that I am being ambiguous, however, would love to hear some thoughts on what would be a good car for me based on my budget and some of my prerequistes.
Would really appreciate the help!
Are you insecure? Why don't you get a Toyota or Honda and invest the money that you save? BMWs and Porsches don't impress anybody. They just make you look like you are trying to compensate for something.
Guys, really appreciate the responses. I do realize that I am pretty young for the cars that I described. However, for the amount of disposable income I have, and given what my colleagues drive, I think it would be foolish of me to not get something that I can truly afford and enjoy at the same time. Not sure why I could get a Chevy Malibu or a Volt when I can get an M3...I am single, have a lot of disposable income (after rent and other expenses, I save about 12k per month - not including retirement+investment contributions), have no debt, and have a pretty decent amount of liquid assets for my age. I can understand where you guys are coming from but if you put yourself in my shoes, the consensus would be that it actually might make sense and spend 1.5-2k/month all-in on a nice car
Greg - thanks for your insight. BRZ looks pretty nice but I think the IPL G Coupe is really nice - definitely will consider that
In that case... Get whatever you want, so long as you pay cash.
Lota people in a lot of industries got hit outa nowhere by job loss while covered up in payments.
E92 M3 and pay your loans off. F*ck the house for now. You don't need that until you're married.
Seriously. It's the best all around car in the world for the money in terms of luxury, practicality and of course sport. Fuel economy is it's only achilles heel. The idea that you could buy 2 or damn near 3 M3's for the price of one 911 Turbo or Aston Martin Vantage is such a joke considering the small incremental improvements in performance or status they offer.
The Ten Commandments of Leasing. 1. Don't lease if you plan to drive the same car for more than three years. 2. Don't lease if there is any possibility that you will not be able to make the payments for any reason Leases are very difficult and expensive to get out of. 3. Insist on a closed end lease if you want to walk away afterwards. 4. To figure out if it's a deal. First find out what the vehicle would have cost for cash, then price a loan, then price the lease. BEFORE YOU SIGN ANYTHING. 5. Find out what price the lease is based on. If you cannot establish this price, multiply the lease monthly payment by 100 and add on any down payments or cash equivalents. Establish the REAL interest rate, even if this means consulting your bank manager. 6. Insist on a list of all the charges you must pay before you drive away. No down payment, does not mean no charges. 7. Establish clearly what minimum charges you will be responsible for when the lease is over. Bald tires and scratched paint work can cost you a lot. Very rarely do lessees hand over the keys and walk away. Usually there is something to be paid, sometimes a lot. 8. Evaluate the buy back carefully. is the car really going to be worth that much? 9. Don't assume that a lease offers protection against the ownership of a lemon. You cannot suspend payments just because you are having trouble with the car. 10. Treat the vehicle as you would a rented apartment. Keep it in good condition, but don't spend extra money on it. Remember you are only BORROWING the car from it's real owner.
If you can afford a 1-2k car budget, forget what anyone at your office will say. Buy what ever will make you happy when you drive to work every morning. I'm a young professional also, don't make nearly as much as you, but I drive a jeep grand Cherokee and in the process of buying a dodge challenger. Why? Because I'm young, I work, and that's what I want to do with the money I work for. Life is short enjoy it.
Now I don't think you should buy an Aston Martin, but like another poster, anything under 100k!
....given what my colleagues drive, I think it would be foolish of me to not get something that I can truly afford and enjoy at the same time.
Why do you care what your colleagues drive? Are you a lemming? You should get what YOU want not what someone else thinks you should have.
Quote:
Originally Posted by op930
Not sure why I could get a Chevy Malibu or a Volt when I can get an M3...I am single, have a lot of disposable income (after rent and other expenses, I save about 12k per month - not including retirement+investment contributions), have no debt, and have a pretty decent amount of liquid assets for my age. I can understand where you guys are coming from but if you put yourself in my shoes, the consensus would be that it actually might make sense and spend 1.5-2k/month all-in on a nice car
Greg - thanks for your insight. BRZ looks pretty nice but I think the IPL G Coupe is really nice - definitely will consider that
I wouldn't buy an expensive car before I had my own home no matter how much money I was making. I suggest you buy a fun car that YOU like without regard to your colleagues. Camaros, Mustangs, Challengers are all reasonably priced and fun to drive. I know that we would not be spending $1500 a month on something that is the same as what everyone else drives. Buy what you like not what you think you should buy.
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