How realistic is my future living dream in SJ with all details inside? (San Jose: for rent, mortgage)

[jaypee]

Originally Posted by shadowyman

Wow guys, i thought my car payments would be reasonable but well glad that I asked. I'm planning to buy an Audi A6/BMW 5.35i 2013 without any down payment for 4 year payment. Either of them will be the first and last luxury item in my life, having them in my mind to motivate me until this point I've reached. If paying this much is really a problem how on earth all those other people manage to get these and more expensive cars then? It's a question of genuine curiosity.

They make more money than you.
They lease.
They put a hefty down payment.
They're living beyond their means.
Someone else is paying for them.

Not sure what other people drive has anything to do with your own financial well-being.

[jaypee]

Originally Posted by 5thgenSF

i agree. and each race tends to hire more of their own race which leaves the rest of us natives unemployed!

"Them foreigners are taking 'our' jobs!!"

[BayAreaHillbilly]

For a more assimilated cultural environment, the area between Sunnyvale and ~ SSF is the most closely aligned. The exceptions are EPA, and the eastern districts of RWC and San Mateo (quite Hispanic feeling places). The price reflects this - it's a bit higher than most of the South Bay. Of course if you are comparing with Cupertino, then it's not all that much more expensive if at all.

[StandingRoomOnly]

Sigh. I think you have more internet research of your own to do...and a trip out here. The 2 bedroom house in your choice neighborhood will be 3000 a month...not 2000 as you will likely NOT want to live in any of the towns you listed.

Audi 2013? Really? 23? ::anyone else doing a facepalm::?

You'll be fine as a single guy on that income here, and sure, you can buy the luxury car and eat out, etc, etc... but at the same time will be living from paycheck to paycheck with no real future savings...and will be as poor as the next guy making 40k living paycheck to paycheck and just getting by.

[roadwarrior101]

Seriously, I think $1,300/month for a car payment is far too much for someone at your salary. I'd wait a while and save, so you can put down $5-10k or so. Also, I know its best practice to pay off a car sooner, but in this case, I don't think you can afford it. We have an Audi Q5, where we put $10k down, did a 5 year payment plan, and still have a payment of close to $800 (and we make a lot more than you do). I would suggest looking at your options here, to free up more cash to live here.

Also, for a 2 bedroom house, I think you're going to struggle to find something in your price range in a great area. We live in Mtn View and 2 bedroom houses here go sometimes over $3k. You may want to look at apartments, at getting a roommate, or living in a further flung suburb. Good luck!

[easybay]

Either of them will be the first and last luxury item in my life, having them in my mind to motivate me until this point I've reached.

Seriously the first and last luxury? Do yourself a BIG favor and take your $5000 signing bonus and buy something to get around with and save up to buy yourself the luxury car after you have actually EARNED it - now that's a concept huh? Think through things a bit. What if you hate it here in the Bay area, miss your friends, hate the new job, get laid off, etc., that $1300/mo car payment isn't so manageable any more. You sound like you're a smart guy - stick that $1300 per month into a retirement calculator and see how much money you would have in 50 years.

[mysticaltyger]

Originally Posted by shadowyman

Wow guys, i thought my car payments would be reasonable but well glad that I asked. I'm planning to buy an Audi A6/BMW 5.35i 2013 without any down payment for 4 year payment. Either of them will be the first and last luxury item in my life, having them in my mind to motivate me until this point I've reached. If paying this much is really a problem how on earth all those other people manage to get these and more expensive cars then? It's a question of genuine curiosity.

Dude, a 1.3K per month car payment is CRAZY . There are 2 options for those other people buying them:

1. They are like you and can't really afford them.
2. They really do have the money to burn.

I'm willing to bet people in category #1 outnumber the people in #2 by a pretty significant margin.

You can choose to look rich, or you can choose to be rich. But very, very few people can afford to do both.

And why do you even care about what kind of cars other people drive anyway? I think maybe you've been watching too many car commercials.

[rimmerama]

Originally Posted by shadowyman

Wow guys, i thought my car payments would be reasonable but well glad that I asked. I'm planning to buy an Audi A6/BMW 5.35i 2013 without any down payment for 4 year payment. Either of them will be the first and last luxury item in my life, having them in my mind to motivate me until this point I've reached. If paying this much is really a problem how on earth all those other people manage to get these and more expensive cars then? It's a question of genuine curiosity.

You pay with cash from your bonus. At least buy used. Luxury cars depreciate fast. Also, repair and maintenance will be pricey, I doubt you will keep it for life.

[mysticaltyger]

Originally Posted by StandingRoomOnly

Sigh. I think you have more internet research of your own to do...and a trip out here. The 2 bedroom house in your choice neighborhood will be 3000 a month...not 2000 as you will likely NOT want to live in any of the towns you listed.

Audi 2013? Really? 23? ::anyone else doing a facepalm::?
You'll be fine as a single guy on that income here, and sure, you can buy the luxury car and eat out, etc, etc... but at the same time will be living from paycheck to paycheck with no real future savings...and will be as poor as the next guy making 40k living paycheck to paycheck and just getting by.

Shadowyman, I hope you read and re-read this post (especially the part in red) about 10X a day to get it through your head). You do NOT want to start out your financial life with huge rent and car payments. It's just not smart on so many different levels.

[mysticaltyger]

Originally Posted by rimmerama

You pay with cash from your bonus. At least buy used. Luxury cars depreciate fast. Also, repair and maintenance will be pricey, I doubt you will keep it for life.

Oh, and one last thing. Cool new cars almost never bring the satisfaction and happiness that people think they will.