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I am a Nashville resident born and raised and I want to leave my hometown. Los Angeles has always been my dream city and I have been there plenty of times, so I know the area. I currently have a degree in Supply Chain Management and work in Finance making around 55-65k a year. In addition, I drive a loaded Mustang that costs me about 600 dollars every month in car payments. I looked up the equivalent salary for me to maintain my current life in LA and it was like 80k. Is this highly exaggerated? I really don't want to have to voluntary surrender my car and **** up my credit. Will I even be able to get a business job there? I don't care to live in the trendy areas, but I do want to live in an area where I don't have to worry about crime lol.
I am a Nashville resident born and raised and I want to leave my hometown. Los Angeles has always been my dream city and I have been there plenty of times, so I know the area. I currently have a degree in Supply Chain Management and work in Finance making around 55-65k a year. In addition, I drive a loaded Mustang that costs me about 600 dollars every month in car payments. I looked up the equivalent salary for me to maintain my current life in LA and it was like 80k. Is this highly exaggerated? I really don't want to have to voluntary surrender my car and **** up my credit. Will I even be able to get a business job there? I don't care to live in the trendy areas, but I do want to live in an area where I don't have to worry about crime lol.
Well, let's see, where do I start?
First off, if you are paying $600. a month for a mustang, either you are paying a tremendous interest rate(which would mean bad credit), or the mustang is comparable to a bently in price.
Unfortunately, you may not want to hear this, but the mustang is an albatross around your neck.
That needs to go.
Sell it privately, and try to get what you owe on it, that way it doesn't affect the credit.
You need to start searching online for work in the Los Angeles area, before even thinking about a move here.
A few things you need to consider:
Where you will live.
Is it close to work?
Do your credentials warrant $80 K or more?
Do you have enough money to tie you over for 6 months?
If you keep the albatross, the cost of insurance, gasoline, and maintenance, is much higher here , than anywhere else.
These things are very important to think about when moving to a new area.
As I stated above, do your research online before deciding to move.
Talk with perspective employers.
Search for affordable housing that is in line with your income and expenses.
There is always a right way, and a wrong way to approach problems, and coming out here unprepared is in the wrong category.
Do your homework, if you want to be successful once you make the decision to move here.
First off, if you are paying $600. a month for a mustang, either you are paying a tremendous interest rate(which would mean bad credit), or the mustang is comparable to a bently in price.
Unfortunately, you may not want to hear this, but the mustang is an albatross around your neck.
That needs to go.
Sell it privately, and try to get what you owe on it, that way it doesn't affect the credit.
You need to start searching online for work in the Los Angeles area, before even thinking about a move here.
A few things you need to consider:
Where you will live.
Is it close to work?
Do your credentials warrant $80 K or more?
Do you have enough money to tie you over for 6 months?
If you keep the albatross, the cost of insurance, gasoline, and maintenance, is much higher here , than anywhere else.
These things are very important to think about when moving to a new area.
As I stated above, do your research online before deciding to move.
Talk with perspective employers.
Search for affordable housing that is in line with your income and expenses.
There is always a right way, and a wrong way to approach problems, and coming out here unprepared is in the wrong category.
Do your homework, if you want to be successful once you make the decision to move here.
Bob.
I drive a loaded 2017 Stage 3 Mustang Roush GT with zero percent interest lol. Bentley's can cost up to over 1.5k to 3k a month if financing so idk where you are getting this comparison from lmao. In other words, the mustang ain't going anywhere lol, so don't bash my ******* car okay. In addition, I hope you don't have any pets or kids either because I consider them albatrosses around your neck. However, we are all different people and spend money on different ****. Aside from that, is 80k in Los Angeles considered a lot for someone with a degree in business? Is 80k a somewhat sketch for a single male?
Last edited by NashvilleBoy; 02-07-2018 at 08:38 PM..
I drive a loaded 2017 Stage 3 Mustang Roush GT with zero percent interest lol. Bentley's can cost up to over 1.5k to 3k a month if financing so idk where you are getting this comparison from lmao. In other words, the mustang ain't going anywhere lol, so account it in my topic not bash it. I hope you don't have any pets or kids either because I consider them albatrosses around your neck. However, we are all different people and spend money on different ****. Aside from that, is 80k in Los Angeles considered a lot for someone with a degree in business? Is 80k a somewhat sketch for a single male?
Have you ever visited LA? Do you know anyone here? Why the desire to live here?
I don't normally agree with Bob but he has a very valid point. And to be honest Mustangs out here are usually driven by tourists who think they're in LA and that's what people here drive, so they rent a Mustang to be cool, and you can tell they're tourists driving down Sunset....LOL.
You car insurance is going to go up and it depends on your zip code as to how much.
Sometimes in life we have to give some things up for something else we want. You sound young and maybe you don't get that yet.
To answer your question 80K is about right salary wise, if you insist on keeping the car I would move in with a roommate. Because $600 a month off the top every month is a lot.
If you haven't ever visited, I would suggest a visit and don't do the touristy stuff, do research about places to live and their proximity to companies you're interested in.
Have you ever visited LA? Do you know anyone here? Why the desire to live here?
I don't normally agree with Bob but he has a very valid point. And to be honest Mustangs out here are usually driven by tourists who think they're in LA and that's what people here drive, so they rent a Mustang to be cool, and you can tell they're tourists driving down Sunset....LOL.
You car insurance is going to go up and it depends on your zip code as to how much.
Sometimes in life we have to give some things up for something else we want. You sound young and maybe you don't get that yet.
To answer your question 80K is about right salary wise, if you insist on keeping the car I would move in with a roommate. Because $600 a month off the top every month is a lot.
If you haven't ever visited, I would suggest a visit and don't do the touristy stuff, do research about places to live and their proximity to companies you're interested in.
Thank you for the response. I don't care if I'm a tourist or not, I love my car like it's my child and I don't plan on going anywhere. In addition, I'm not worried about my car insurance because I have USAA with a clean driving record so my car insurance is cheaper than most people despite having a GT Mustang. I honestly want a roommate and just want to live in the cheapest area possible without crime. I don't care if it's even San Bernardino or Anaheim tbh because I want to get the **** out of Nashville. Wherever my job is I want to be close is a huge factor tbh.
I don't think 80k is unobtainable, but I also don't think you would start off at that amount as a new employee.
You would need to move up to that amount over time.
Los Angeles is a very competitive market for most businesses, and SCM is no different.
I did not meant to infer that your "toy" is an albatross, but the monthly payment sure sounds like it is.
I have a Corvette, with no payments, and $600 a month would definitely not be something I would want, regardless of how much money I make.
As I said above, do your homework.
The idea is to live as close to work as possible.
Los Angeles has the worst traffic congestion in the world.
That study result was just published yesterday, so you will want to live close to work.
Ten mile commute in your neck of the woods would take perhaps 15 minutes.
Here it would be more like 2 hours, or a lot longer if there is an accident, which are very common on a daily basis.
A small example; I visit my doctor every four months, which is seven miles from my house.
The trip usually takes one hour and twenty minutes, if there isn't an accident.
I wish you all the best in your search.
One more thing, the rental market in the metro ares is absolutely insane.
Again, you will need to shop around for the best deal when it comes to renting.
I don't think 80k is unobtainable, but I also don't think you would start off at that amount as a new employee.
You would need to move up to that amount over time.
Los Angeles is a very competitive market for most businesses, and SCM is no different.
I did not meant to infer that your "toy" is an albatross, but the monthly payment sure sounds like it is.
I have a Corvette, with no payments, and $600 a month would definitely not be something I would want, regardless of how much money I make.
As I said above, do your homework.
The idea is to live as close to work as possible.
Los Angeles has the worst traffic congestion in the world.
That study result was just published yesterday, so you will want to live close to work.
Ten mile commute in your neck of the woods would take perhaps 15 minutes.
Here it would be more like 2 hours, or a lot longer if there is an accident, which are very common on a daily basis.
A small example; I visit my doctor every four months, which is seven miles from my house.
The trip usually takes one hour and twenty minutes, if there isn't an accident.
I wish you all the best in your search.
One more thing, the rental market in the metro ares is absolutely insane.
Again, you will need to shop around for the best deal when it comes to renting.
Bob.
Ya, I've heard about the traffic of LA. My friend is moving there this month from Tennessee, so I hope to get a lot of info from him. I hate to lose the car, but honestly I'll get rid of it if I absolutely have to. I don't want to consider getting rid of it, but I will if it's completely necessary.
When you drive in LA it's not if you get in a car accident it's when. Just today there was a multi vehicle pileup on pch in Malibu with 9 people hurt. My friend had a Porsche and had to sell it for a Prius because it kept getting vandalized by jealous people. There's also break ins and car theft to worry about. Wherever you live make sure it has a garage or gated underground parking.
You say you want crime free ... sorry dude So cal is not Mayberry. If your dead set on moving here I guess I'd recommend N Orange County for your needs but your going to have a ***** of a commute if you work in LA
When you drive in LA it's not if you get in a car accident it's when. Just today there was a multi vehicle pileup on pch in Malibu with 9 people hurt. My friend had a Porsche and had to sell it for a Prius because it kept getting vandalized by jealous people. There's also break ins and car theft to worry about. Wherever you live make sure it has a garage or gated underground parking.
You say you want crime free ... sorry dude So cal is not Mayberry. If your dead set on moving here I guess I'd recommend N Orange County for your needs but your going to have a ***** of a commute if you work in LA
How much was that GT. 63/65,000? You’ll be dumping it soon enough as the fuel bill will kill you. Especially if you’re working in LA and you live in OC. You’re looking at about 35/40 mile one way give or take a few miles. Dude I was driving a diesel to work 65 miles one way and I was paying about $650 a month on fuel alone. And I have no car payment. I bought a cheap little 4 banger to rack up miles.
Anyway you’ll most likely be looking at 60/70k starting pay. Maybe 80 if you’re lucky, IF you’re lucky before taxes. . You’re looking at
7200 a year car payment (existing)
1000 minimum rent if you’re roomies
1500 if you’re by yourself. (And you’re not going to be in the best part of town.) in fact I’m willing to bet you won’t need to worry much about the car. But you got good insurance.
Nicer areas you’re at 1800/2k starting, But let’s give 1500 average call it 18,000 a year (my cheapest rental is 2100 a month. And I can ask more but right now I’m ok as it is but I’m not making up rent numbers. The rental is in a very popular area. I’m about the lowest you’ll see there. The tenants have been with me a long time which is why rent is lower) otherwise my rentals average 2500 a month. )
I’ll go to 400 for fuel. That’s 2/3 way between my old fuel bill and my current econobox I’m going a bit higher as you have a hot rod. I’m estimating 20 mpg. Unleaded here runs 3:10 to 3:29 a gallon or higher once in LA. I’m assuming you need at least mid grade if not premium? Then you’re looking at 3:50 a gallon
Your yearly costs
7200 car payment
18,000 rent
4/4800 fuel
That’s almost 30,000 give or take a few thousand. . You need to make 120,000 to be relatively comfortable and afford your car. Whatever you’re paying where you are in insurance doesn’t mean that’s what you’ll pay here. Get a quote of the cost of living here. As much as you may love your car it’s a significant amount of your net income. You may not wanna hear this but your mustang is a financial albatross at this point in your life. I’m assuming you got a 4-5 year left on that note! I don’t much care about what car you drive. I personally could care less. I’m giving you facts.
So Cal is VERY expensive. Food, shelter, fuel, car repairs, entertainment, it’s all expensive. 60k a year will put you in the poor house. 80k a year is minimal imo
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