Advice on saving money in Torrance (buy, salary, maintenance)

[Commonproject]

Honestly it sounds like having a nicer car gives you a lot of joy, which isn't the same case for everyone. I say go ahead and enjoy it. People are just having negative responses because of the way you asked for advice on saving money, then mention buying a $40-50k car.

[jm1982]

Originally Posted by Mr_Geek

Yeah don't bother driving a 40k BMW here if you want it for looks. There's so many car poor people in addition to rich people that you will most often have the dumpiest car on the lot even with a 40-50k BMW. People at my work make fun of me all the time for driving a car worth about $3,000. Then again, many of these people live in tiny apartments in their 40/50s because they spend so much on keeping up with the benjamins.

You and your bank accounts will both be happier when you can stop trying to impress and stop caring what others think.

I think a lot of people in L.A see the high housing prices and then say “well since I can’t buy a place might as well enjoy myself and have a nice car “ not saying this is OP mentality .

They could be buying property out of the area or out of state and then at least earning a return and hopefully some appreciation .

[Vic Romano]

Originally Posted by Commonproject

Honestly it sounds like having a nicer car gives you a lot of joy, which isn't the same case for everyone. I say go ahead and enjoy it. People are just having negative responses because of the way you asked for advice on saving money, then mention buying a $40-50k car.

The title of the thread is "Advice on saving money..." not "Give me confirmation that I want to buy a BMW".

His mind is made up already. This is a public forum, and negativity happens. He can choose what he wants to do.

I bought a new $44k BMW 20 years ago. I was more than 10 years older than the OP is now. So I already know about "valid points".

[pnwguy2]

I think the points being made here are indeed "valid".

Perhaps some on here want to help others in the same situation? That would be a good thing.

Bottom line, many of us have been brought up on living in a materialistic society. Who has the nicest car? Our pride and self-esteem are set up to be related to our vehicles. Great! But it is completely wrong.

As I posted earlier, your life has nothing to do with how others notice your nice new truck or car. Yes, it can feel good for about 5 seconds on the freeeway, but at the end of the day, it offers nothing to your future. Once you get past this false sense of success, you will be able to focus on what is most important. Long-term thinking with investments, buying a home, your future family and children, and all that stuff that seems unimportant now, but will someday be very important.

[varun2123]

Originally Posted by pnwguy2

I think the points being made here are indeed "valid".

Perhaps some on here want to help others in the same situation? That would be a good thing.

Bottom line, many of us have been brought up on living in a materialistic society. Who has the nicest car? Our pride and self-esteem are set up to be related to our vehicles. Great! But it is completely wrong.

As I posted earlier, your life has nothing to do with how others notice your nice new truck or car. Yes, it can feel good for about 5 seconds on the freeeway, but at the end of the day, it offers nothing to your future. Once you get past this false sense of success, you will be able to focus on what is most important. Long-term thinking with investments, buying a home, your future family and children, and all that stuff that seems unimportant now, but will someday be very important.

Ur mossing the point..its not about proving anything to anybody lol
I have an engineering degree with a real engineering job. my upside is a lot higher than your average.
I have family who are well off rhat will help in buying property.

Aside from all they I want the car I do because of joy and internet in BMW's far far from trying to prove anything.

The question may of been asked wrong to where so many insecurities have been brought up without knowing but its OK.

[Vic Romano]

Originally Posted by varun2123

Ur mossing the point..its not about proving anything to anybody lol
I have an engineering degree with a real engineering job. my upside is a lot higher than your average.
I have family who are well off rhat will help in buying property.

Aside from all they I want the car I do because of joy and internet in BMW's far far from trying to prove anything.

The question may of been asked wrong to where so many insecurities have been brought up without knowing but its OK.

Wow. Really...

Look at your first post. We answered based on that. Then you give us information after the fact. As someone mentioned, you moved the goalposts. First you say you have additional income. Then you say your family can help you buy property. Then you start putting people down saying your upside (not guaranteed) is higher than someone’s average.

You really didn't want advice after all. Lol!

[varun2123]

So would going Japanese be a better option?..I've thinking of g37 or something like that..I did more research and realized I'd rather use that money and invest into a business than go 40k in debt for a car

[36_Chambers]

//www.city-data.com/forum/autom...t-buy-car.html

[jm1982]

Originally Posted by varun2123

So would going Japanese be a better option?..I've thinking of g37 or something like that..I did more research and realized I'd rather use that money and invest into a business than go 40k in debt for a car

“Or maybe they get money, buy a business
I rather buy 80 gold chains and go ign'ant”

[fumbling]

Originally Posted by varun2123

I appreciate the responses but it would be my only depreciating asset. I have no debt at all and my concern is to just have a bit of savings. I said 50k but I really mean 40k at most. Maybe I might consider a Tesla S or something else.

This is my first job as an engineer so salary will be going up as well as my secondary income which can alone cover my car payments.

I am not into those outdoor toys so my only payment would be the the BMW. Family helps chip in a bit as well.

I believe my payments for the car would barely cross the 10% rule of your gross income if not meet it

Buy a Prius and invest the difference in low cost stock index funds and hold for 20+ years and your future self will thank you. A BMW will wreck your financial future. The choice is yours.