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Old 03-01-2013, 07:18 AM
 
5 posts, read 7,020 times
Reputation: 11

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Hello All,

I accepted a job offer near Chicago and plan on living in Hyde Park from California. I would like your opinions as to whether I should be able to afford a pretty luxury car (maybe jaguar ~30k). I will be be making $90k including bonus and have found a condo to rent for $1100. Also, I have no kids and no debt other than a $5k student loan.

I think I can afford it but when I went for a site visit to my new job I rarely saw any luxury cars and I know people there are making just as much as me or more. Is there something I'm missing?
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Old 03-01-2013, 07:21 AM
 
Location: Uptown
1,520 posts, read 2,576,737 times
Reputation: 1236
lol
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Old 03-01-2013, 07:34 AM
 
3,111 posts, read 8,056,744 times
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I think you will be broke within a week.
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Old 03-01-2013, 07:38 AM
 
Location: Oak Park, IL
5,525 posts, read 13,955,364 times
Reputation: 3908
$30k doesn't buy a luxury car these days.
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Old 03-01-2013, 07:41 AM
 
241 posts, read 465,810 times
Reputation: 131
You probably don't see a lot of nice cars because people who are smart with their money see cars as nothing but a pit of money, especially in a big city where its so incredibly unnecessary.

Don't get me wrong, I LOVE cars, or anything with wheels and motor for that matter, but I would only have one as a toy for the weekends, my daily driver would be a honda or something. But that's not going to be until I have a home anyway.
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Old 03-01-2013, 07:47 AM
 
Location: Oak Park, IL
5,525 posts, read 13,955,364 times
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I find it hard to believe that you didn't see a lot of $30k cars at your new job, given the income you report. Even a Toyota Camry can cost over $30k these days.
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Old 03-01-2013, 07:51 AM
 
1,210 posts, read 3,063,670 times
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90k will let you live a very comfortable life. Yes you can probably afford a 30k car.
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Old 03-01-2013, 07:53 AM
 
5 posts, read 7,020 times
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I always buy used and let someone else take the large depreciation hit which is why I stated ~$30k.
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Old 03-01-2013, 07:54 AM
 
Location: Upper West Side, Manhattan, NYC
15,323 posts, read 23,937,691 times
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Not sure why you're asking us. You already know your monthly rent, then your salary.....did you need to know how expensive food, etc is? I think you can figure this one out on your own.
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Old 03-01-2013, 07:56 AM
 
14,798 posts, read 17,693,010 times
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Quote:
Originally Posted by marothisu View Post
Not sure why you're asking us. You already know your monthly rent, then your salary.....did you need to know how expensive food, etc is? I think you can figure this one out on your own.
Thanks, I was going to type the same thing but I'm feeling lazy today.
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