OT: what do you do? (career)
08-13-09, 12:43 PM
#1
Lead Lap
Thread Starter
OT: what do you do? (career)
Okay, so it will stay somewhat on topic, I'm looking to buy a used LS460 in the near future....probably 6 more months or so but I really try to get it before the end of this year for tax break purposes...only prob is I am a recent graduate and poor as ******...need to pay off my loan...hopefully will be done by then. 
anyways, the real question: I saw you guys have pretty damn nice car (or cars). Must be loaded. What do you do and how much is your annual income if you don't mind sharing. Will you adopt me? I'm potty trained
anyways, the real question: I saw you guys have pretty damn nice car (or cars). Must be loaded. What do you do and how much is your annual income if you don't mind sharing. Will you adopt me? I'm potty trained
08-13-09, 01:12 PM
#2
please understand i am not trying to come the wrong way, but here's my 2 cents about your situation
if you are just a new grad and you say you are "poor" on top of paying off your student loan, then luxury cars shouldn't be really on your radar. ability to manage your finance and also planning goes a long way.
even if you pay off your loan in 6 months as you say, it doesn't sound like you will have significant amount of savings or financial base to handle potential variables. i'd build the equity up first before dipping too deep into luxury cars, which honestly is a pure expense and depreciation
again, just my 2 cents
if you are just a new grad and you say you are "poor" on top of paying off your student loan, then luxury cars shouldn't be really on your radar. ability to manage your finance and also planning goes a long way.
even if you pay off your loan in 6 months as you say, it doesn't sound like you will have significant amount of savings or financial base to handle potential variables. i'd build the equity up first before dipping too deep into luxury cars, which honestly is a pure expense and depreciation
again, just my 2 cents
08-13-09, 01:34 PM
#3
Lead Lap
Thread Starter
please understand i am not trying to come the wrong way, but here's my 2 cents about your situation
if you are just a new grad and you say you are "poor" on top of paying off your student loan, then luxury cars shouldn't be really on your radar. ability to manage your finance and also planning goes a long way.
even if you pay off your loan in 6 months as you say, it doesn't sound like you will have significant amount of savings or financial base to handle potential variables. i'd build the equity up first before dipping too deep into luxury cars, which honestly is a pure expense and depreciation
again, just my 2 cents
if you are just a new grad and you say you are "poor" on top of paying off your student loan, then luxury cars shouldn't be really on your radar. ability to manage your finance and also planning goes a long way.
even if you pay off your loan in 6 months as you say, it doesn't sound like you will have significant amount of savings or financial base to handle potential variables. i'd build the equity up first before dipping too deep into luxury cars, which honestly is a pure expense and depreciation
again, just my 2 cents
08-13-09, 01:43 PM
#4
please understand i am not trying to come the wrong way, but here's my 2 cents about your situation
if you are just a new grad and you say you are "poor" on top of paying off your student loan, then luxury cars shouldn't be really on your radar. ability to manage your finance and also planning goes a long way.
even if you pay off your loan in 6 months as you say, it doesn't sound like you will have significant amount of savings or financial base to handle potential variables. i'd build the equity up first before dipping too deep into luxury cars, which honestly is a pure expense and depreciation
again, just my 2 cents
if you are just a new grad and you say you are "poor" on top of paying off your student loan, then luxury cars shouldn't be really on your radar. ability to manage your finance and also planning goes a long way.
even if you pay off your loan in 6 months as you say, it doesn't sound like you will have significant amount of savings or financial base to handle potential variables. i'd build the equity up first before dipping too deep into luxury cars, which honestly is a pure expense and depreciation
again, just my 2 cents
08-13-09, 02:18 PM
#5
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As stated before by Rominl: I also am not trying to be a ****: but yeah the last thing you should be thinking about is buying a yacht, the second to last thing on your mind should be a luxury car. Both are money pits for your disposable income, and from your short story it sounds like you wont have any of that for awhile.
I am happy to disclose that under normal circumstances you can expect to pay in the neighborhood of $1000 a month for the car and it's secondary costs. That number can go a long way down or up, depending on how 'used' the car is, for how long you arrange the financing, and how many extras you add to the car (of course)...
Best of luck to you!
Z
I am happy to disclose that under normal circumstances you can expect to pay in the neighborhood of $1000 a month for the car and it's secondary costs. That number can go a long way down or up, depending on how 'used' the car is, for how long you arrange the financing, and how many extras you add to the car (of course)...
Best of luck to you!
Z
08-13-09, 02:50 PM
#6
Lead Lap
Thread Starter
Yeah thanks...on top of the student loan, i'm actually paying for the apt and a Tundra 5.7L truck i purchased for my dad as a gift for him when I graduated. The truck has about 14 payments left (about $1000/month) so $1k payment for the Lexus would totally be okay. Just need to get rid of the student loan and i'll be okay. I guess if I wait until next year, prob. just get a new Lexus instead of used.
anyways, what do you guys do for a living anyways? i'm in the medical field...took more decade of school to get here...sucks...should have gone into businness or someting
anyways, what do you guys do for a living anyways? i'm in the medical field...took more decade of school to get here...sucks...should have gone into businness or someting
08-13-09, 06:43 PM
#7
Well, I'll give you credit for looking at a used LS. However, even used, a car is undoubtedly the fastest depreciating asset on the planet. At this point in your life you would be best served by purchasing the cheapest utilitarian vehicle you can find.
As far as what I do (or did) it doesn't matter to you. Because if you don't like doing it, you will be miserable. That old saying is so true ............... do what you love and you'll never work a day in your life.
And if doing what you love doesn't make you enough to buy an LS, you won't even care!
As far as what I do (or did) it doesn't matter to you. Because if you don't like doing it, you will be miserable. That old saying is so true ............... do what you love and you'll never work a day in your life.
And if doing what you love doesn't make you enough to buy an LS, you won't even care!
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08-14-09, 02:21 AM
#8
Yeah thanks...on top of the student loan, i'm actually paying for the apt and a Tundra 5.7L truck i purchased for my dad as a gift for him when I graduated. The truck has about 14 payments left (about $1000/month) so $1k payment for the Lexus would totally be okay. Just need to get rid of the student loan and i'll be okay. I guess if I wait until next year, prob. just get a new Lexus instead of used.
anyways, what do you guys do for a living anyways? i'm in the medical field...took more decade of school to get here...sucks...should have gone into businness or someting
anyways, what do you guys do for a living anyways? i'm in the medical field...took more decade of school to get here...sucks...should have gone into businness or someting
08-14-09, 06:58 AM
#9
Lead Lap
Thread Starter
Wow...I guess you guys are pretty old
Yeah, I got out last year with 100k+ in student loans and bought a $35k Tundra for my dad so I had about $135k (approx) loan...paid most of it off in a year or so...now I have about $32k left of loan left (of $14k is the car but has 0% interest so not too worry of that). Should be able to pay everything off by the end of this year. I guess I'll start looking again when I'm in a better financial position by December or so
Yeah, I got out last year with 100k+ in student loans and bought a $35k Tundra for my dad so I had about $135k (approx) loan...paid most of it off in a year or so...now I have about $32k left of loan left (of $14k is the car but has 0% interest so not too worry of that). Should be able to pay everything off by the end of this year. I guess I'll start looking again when I'm in a better financial position by December or so
08-14-09, 07:55 AM
#10
Driver
Join Date: Mar 2009
Location: Texas
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I am 33, purchased my 09 LS at 32. I like the "old man" car b/c of my long daily commute.
Being financially saavy is incredibly important - avoid debt at all costs. I only bought my car after I paid off my house, saved enough money to pay cash for the vehicle, completely funded my tax-advantaged retirement acccoutns, and had no credit card debt.
You see, these cars are called "luxury cars" for a reason - meaning having them is a luxury that you should persue only after the rest of your financial house is in order.
It amazed me to see all the people out there driving cars on lease or cars they can't afford, with mountains of credit car debt and adjustable rate mortgages etc. It is so foolish.
BTW, I run a small business.
Being financially saavy is incredibly important - avoid debt at all costs. I only bought my car after I paid off my house, saved enough money to pay cash for the vehicle, completely funded my tax-advantaged retirement acccoutns, and had no credit card debt.
You see, these cars are called "luxury cars" for a reason - meaning having them is a luxury that you should persue only after the rest of your financial house is in order.
It amazed me to see all the people out there driving cars on lease or cars they can't afford, with mountains of credit car debt and adjustable rate mortgages etc. It is so foolish.
BTW, I run a small business.
08-14-09, 09:10 AM
#11
I am 33, purchased my 09 LS at 32. I like the "old man" car b/c of my long daily commute.
Being financially saavy is incredibly important - avoid debt at all costs. I only bought my car after I paid off my house, saved enough money to pay cash for the vehicle, completely funded my tax-advantaged retirement acccoutns, and had no credit card debt.
You see, these cars are called "luxury cars" for a reason - meaning having them is a luxury that you should persue only after the rest of your financial house is in order.
It amazed me to see all the people out there driving cars on lease or cars they can't afford, with mountains of credit car debt and adjustable rate mortgages etc. It is so foolish.
BTW, I run a small business.
Being financially saavy is incredibly important - avoid debt at all costs. I only bought my car after I paid off my house, saved enough money to pay cash for the vehicle, completely funded my tax-advantaged retirement acccoutns, and had no credit card debt.
You see, these cars are called "luxury cars" for a reason - meaning having them is a luxury that you should persue only after the rest of your financial house is in order.
It amazed me to see all the people out there driving cars on lease or cars they can't afford, with mountains of credit car debt and adjustable rate mortgages etc. It is so foolish.
BTW, I run a small business.
08-14-09, 09:22 AM
#12
Pole Position
I sell white women on the used slavery market. The economy has hit me hard, but I'm getting by...
08-14-09, 12:05 PM
#14
Lead Lap
Join Date: Mar 2004
Location: Florida
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I run a bunch of sweat shops in the Philippines. You should really see those little kids make those hats.
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Every exotic car board has someone ask this question.... Monthly.
Typically people get tired of answering it, or choose joke answers. I prefer the latter.
Stick with Rominl's advice.
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Every exotic car board has someone ask this question.... Monthly.
Typically people get tired of answering it, or choose joke answers. I prefer the latter.
Stick with Rominl's advice.
08-14-09, 12:55 PM
#15
I run a bunch of sweat shops in the Philippines. You should really see those little kids make those hats.
.
.
.
.
.
.
Every exotic car board has someone ask this question.... Monthly.
Typically people get tired of answering it, or choose joke answers. I prefer the latter.
Stick with Rominl's advice.
.
.
.
.
.
.
Every exotic car board has someone ask this question.... Monthly.
Typically people get tired of answering it, or choose joke answers. I prefer the latter.
Stick with Rominl's advice.
