>24 years old
>Condominium unit fully paid
>Other car fully paid
>No other liabilities
I really want to buy the Ford Mustang GT but it costs $60k in my fucking country. How much cash and crypto should i have before i should even consider buying the fucking thing?
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I live in south east asia if that counts in the computation
$60000
3M at least so you don’t spend more than 2% on a depreciating asset
yeah, sure
1.5M at least
>$60000
Thats fucking stupid lol
>3M
>1.5M
What the fuck its not a porsche ffs.
If you have to ask how much you need then you don't have enough cash. Also, if you spend 60k on a car you are either retarded or rich and it doesn't seem like you are rich so that leaves us with...?
at least 60 M in bank and 100k / month passive income
honestly I will never understand car fags
$60,000 on something that produces nothing and will only go down in value is a terrible financial decision. The correct advice is that you should at least be a millionaire but you'll probably buy the car as soon as you can.
spending more than 1% of your wealth in a car is a mistake
>$60k is stupid
>$1.5m and $3m are too
Seems like you already decided upon an answer.
>If you have to ask how much you need then you don't have enough cash.
But I'm young and have no liabilities w/ 217k usd in cash and crypto in total. I mean dont people normally take car loans for this and just pay them off during their lifetime? I mean im going to make money wagecucking during my lifetime after all.
Is this a bad idea? I mean its not like i'm 50 years old with retirement coming up
tfw you will not have your dream car before 30 :(
>spending more than 1% of your wealth in a car is a mistake
This is what i dont understand if spending more than 1% of your wealth in a car is a mistake doesnt that mean majority of car owners are making a mistake? There is a ton of traffic in the USA and even people below 30 years old have cars. The cheapest car there is what? $20,000? That means a net worth of $2 million for a 20k car based on your standards.
There is no way in hell the average person has a $2 million net worth and thats in the US. Im guessing other countries are worse.
its called enjoying something you humorless pencilneck waste of skin
>tfw you will not have your dream car before 30 :(
Lmao he said 1% of your networth and this guy says more than 2%.
The cheapest car for a cheap brand like hyundai is $10,690 in the USA. He is basically saying you need to have $500,000 before you buy the cheapest hyundai while the other guy says $1,000,000 before you buy the cheapest hyundai
I’m in a similar boat to u. I got 230k all in crypto and want the Shelby mustang gt 350 which costs around 70k. I will only buy it once I hit atleast 1 mill in crypto. (Max I’d ever put into a car I really want is 10% of my net worth
Mate if buying a car will genuinely bring you happiness then go ahead as long as you don’t put yourself in debt.
I’m not sure what kind of response you were looking for on a financial board, I think most people here would want to spend as little money as possible on something that will only lose value as time goes on
>I’m not sure what kind of response you were looking for on a financial board, I think most people here would want to spend as little money as possible on something that will only lose value as time goes on
I mean doesnt anyone here have gains that they used to buy a car? I was just wondering what their networth was when they bought it. I mean obviously im not looking for retarded answers like 1% of your networth lol.
Thats asking a person with $1 million to buy a $10k car. Thats warren buffet cheapness level.
#1: You must be able to pay the car in cash.
#2: The car must not exceed 50% of your early income
#3: The msrp of the car must not exceed 5% of your net worth
If you fail any of the three you can't afford the car
>The cheapest car there is what? $20,000?
Most people don't buy new cars. Can easily get one in perfect condition for like $5k. Can even go as low as $1k if you're willing to put some elbow grease into it.
People buy things to enjoy life you fucking brainless depressed miserable loser.
>Most people don't buy new cars
I call bullshit lol, pretty sure most buy brand new
All this means shit when u have several hundred thousand saved up. Ur criteria is for fuckers living paycheck to paycheck
>doesnt that mean majority of car owners are making a mistake?
Yes.
Is #2 really necessary? That cuts the pool of people that can buy a lot
I would say liquid assets for 1 000 000 and over at minimum. You gonna lose 30k on that easily but then selling get 30k back
>rich people are this out of touch with reality
>rich people are this out of touch with reality
Its based on observation. Most of them pick cheap models and use car loans. If most people buy used cars then car manufacturers should be losing a ton of money right now.
you do whatever the fuck you want to do user. it's not like as soon as you buy the car you lose 60k.
check the used car market, if you're able to sell it for 45-50k, it's not a big spending considering you will use the car for at least 3 years.
Most people get loans so they can pay for a used car. Pretty much every vehicle manufacturer is doing poorly because only a small percentage of people can get new cars.
>check the used car market
Is buying a used version of the $60,000 car a bad idea? You just gave me an idea lol why the fuck do i buy this shit brand new
>south east asia
So you're a gook living in australia?
Most new cars are leased by companies for employees. If a job requires long distance driving it might be good deal to lease a brand new. For people who have millions to burn it might be smarter to buy 1 year old for example.
Not company cars is most bought for status. Porsches and such are sometimes purchased by car enthusiasts who simply drive or race for enjoyment tho
>So you're a gook living in australia?
No i live in the philippines
>msrp
buying new. lmfao
Dude if u got lots of money why would u cheap out on a car and buy one used with peoples farts and odors. Not to mention a used mustang get was most
Likely drive by some young punk who abused it. If u got several Hundred thousand what’s the point in cheating out, enjoy life
Shit, it might be possible to buy one off an american expat lmao. You guys drive on the left side of the road, yeah?
>Importing an American car
please guys stop. ur killing me over here
No, we drive on the correct side of the road.
I'm pretty sure markets vary wildly by country, it might be true where you live. But I know it's not true where I live, and I dug up some links about US, where apparently used car sales outnumber new car sales 2 to 1.
it's personal choice brah. if you buy it used it might not even lose any value from the price you bought it.
you can have fun with it and sell it whenever you are getting bored from it.
yeah it is funny because the average people probably has at least 30% of nw in their car
Majority of people stay in the highest income bracket for just one year. Only about 5% stays at top of the game for 10 years. Better use net wealth for measure.
This also skews income data, as high earners are much smaller group than thought. Most people only visit high earn bracket. These is also why enterpeneurs etc. are over represented in income data at top. They are theere for 1 year because of company sales / dividends
this list changes a lot when you consider taxes though. cars are cheap in the us.
in my country a continental gt sells for €650K
That’s the difference between people who are satisfied with their riches and people that want more out of their money.
>$150,000 to $200,000 ANNUAL income to buy a honda civic or a toyota corolla
Might as well save every cent you have and bury all your money with you in the grave. I would rather go all in some $100 daily volume shitcoin and possibly win than live a life as frugal like that.
For real though, i doubt anyone in biz follows that picture you posted.
"If you can't buy 5, you can't afford one"
lease it for a year or two. buying a car is fucking stupid
>spending $60k on a car that's a staple for white trash in the US
Pretty dumb imo. If you have the cash I guess do it but I couldn't justify spending $60k on a mustang.
nobody is forcing you to get a mortgage for a car that will lose you money every year in depreciation and maintenance while you live paycheck to paycheck. but go ahead.
Yes but car does not really bring much enjoyment unless you are racing with it or driving on a track.
It's just sitting in the carage, and then at retirement age people are too poor to do anything...
>"If you can't buy 5, you can't afford one"
Thats a pretty good metric. But i heard on the radio (or might have read somewhere) that if you can't buy 2 porsches then dont buy one because the repairs/maintenance will kill you
this list is absolutely fucking retarded
>while you live paycheck to paycheck
well I don't work at all, but I think I will get a job just so I can get the fucking car without feeling bad
>Yes but car does not really bring much enjoyment unless you are racing with it or driving on a track.
So in your opinion would you rather just save it to buy a really nice house in the future or is hookers and blow a better idea. I'm really trying to gauge what biz wants to do with money.
After all we are chasing mad gains in crypto, i thought a nice car is the first thing to enjoy your money with when you get lucky?
Lamboland is ironic. The point of getting mad crypto gainz is to live a normal life without having to work a job or put any effort into life whatsoever, just throw money at any problems that arise during your NEETdom.
Chasing mad gains is not same as "made mad gains"... if you made 10m in a recent rally, go ahead buy a lamborghini or lease a one. You will get bored quickly, so prolly better just lease :)
> if you made 10m in a recent rally, go ahead buy a lamborghini or lease a one.
A lambo isnt $60,000......
That's what I'm talking about.
repairs, etc. on top of all your regular spending that you have to do to not be homeless and starving. Can't tell you how many people I know who would have so much saved up if they didn't keep buying fucking cars they don't need.
You can lease a lambo very cheap. Aventador goes for 300k
2.3 Ecoboost is the best engine for this car.
Of course they do. I mean 20000$ for a fucking car?? Do you think money comes out of my ass or something. Unless you earn a bunch of money its not fucking happening. I have no clue who keeps buying this expensive shit.
Mostly niggers and people in their 40-50's it seems. Young people here only buy old used cars. Which are like 1K - 3K. The car industry is going down the shitter because of it.
Cars might become something exclusively for the rich soon.
How can you enjoy life without having all the money in the world?
OP here. Fuck this lmao, i'll probably just spend money in amsterdam and thailand again instead of buying a $60,000 car. I dont know why but whenever i plan on spending a ton of money in something i try to compute it in hooker costs.
Hmmm $60,000 car. I spent $3,000 fucking a lot of hookers in thailand for a week where i fucked 3 hookers in a day sometimes. Thats like 20x a weekend of hooker experience... I guess i'll enjoy 20 hooker filled weekends than a car.
But sometimes i dont know, whenever i see someone with a $60,000 car i get the urge to buy one too.
100k
youtube.com
Oil field arabs brining their cars from middle east to london :O
I wish we all drove on the left side. RHD Makes so much more sense, to steer with your dominant hand and shift gears with your left. Right side is just a meme from the horse and carriage days.
Why the fuck are you even asking for Jow Forums's opinion if you've already made up your mind?
lol your a fucking idiot paying 60k for a FORD mustang. I live in America, specifically Southern California and literally every teenager drives a mustang. they get a bad reputation in the car scene because they always crash or hit someone at car meets. Im not joking, you can literally find dozens of videos online about this happening in Southern Cali. mustangs are worth 20k max here and you want to pay 3x that? get a fucking performance BMW AUDI or Benz with 60k. S4/S5/335i/C63 C45 AMG
I have $150k and bought a $1200 car if that helps you.
Your fucking dumb dude. I drive an S Series Audi Certified Preowned. I have extended warranty for 80k miles and I bought it for around 34k. Im in my early 20s. I paid off the car fully in CASH when I was 22. The car was pretty much brand new and less than 30k miles on it. I paid half the MSRP 55k MSRP + taxes and registration. I have a 6 figure net worth in crypto. You are fucking dumb if you are only allocating 5% of your networth on a car. so you are saying a person with a net worth of half a mil should only drive a honda civic which is around 24k? literally every teenager in LA drives a brand new civic. Also, I know how to do maintenance on my own Audi for headlights and fluids. its not hard to maintain a car if you actually read some fucking manuals. For brakes/rotors I leave it to my personal mechanic who can do them for $100-200. so cheap to maintain and peace of mind with warranty. And I get all the bitches driving an Audi while you drive a beat up 1998 Volvo
A brand new mustang is 20k maximum? lmao no way. im not talking about the old shitty mustangs im talking 2018
FUCK NEVERMIND, i forgot. Our country has 100% to a 150% increase in car price. So if a mustang costs $25,000 in the USA it costs almost $60,000 in ours. I live in the philippines. Fuck this shit ass country.
I know nothing about cars; how many problems are you looking at buying something with 100k miles on it?
LOLOL your fucking dumb, do you live in america? if not shut the fuck up. heres a listing for a 2018 Ford Mustang for 19,000 convertible. dont try to act smart you sound so fucking dumb right now
losangeles.craigslist.org
have fun paying 60k for a car that i can get for 19k brand new with under 5k miles :)
Read my corrected post this is so fucking unfair
yea i feel sorry for you man. i truly do. i know muscle cars must cost alot overseas and are probably more in demand. im a fan of them but they are really common in Cali, i see like 10 camaros/mustangs/dodges parked in parking lots all the time when going to groceries and restuarants. however they may be much rarer over seas. its all about perspective. if u wanna buy it go for it. ford is very easy to maintain
A 4 cylinder eco boost is not a muscle car by any definition.
>boost
a mustang ecoboost has 310 hp, which is still faster than 90% of the cars on the streets with all the fucking priuses, toyotas and honda civics around. and its also faster than a porsche cayman. get your fucking facts straight. its a muscle car base model but dont underestimate the power.
this user is right. you shouldnt spend ANYTHING on luxury items until you are a millionaire.
never laughed so hard in my life
also:
>buying a 300K car so you can pull some chick who looks like she should be waiting tables at a fucking applebees
kek
lol you are gonna be 50 years old when that happens, by that time no one will want to fuck you even if you drive a luxury car. best time to get it is in your 20s DESU. you can flex on all the roasties. a 30k Mercedez Benz will still have the same image as a 100k Benz. girls cant tell the difference they only look at the brand
if you want to buy a luxury item you should have liquid assets enough to buy 10. . . basic shit
>car goes vrooooom
lol 30 is excessive, you should have liquid assets to buy x2-3. its called having a stable annual cash inflow. if you have x30 liquid assets you have too much saved up that needs to be reinvested. i work in finance bro you are a fucking dumbass
Left side is just a meme from manual transmission days.
So you already have a working car? So dont spend the money on another car. The 60k could be worth 500k in a few years in crypto.
Do you plan to work on it yourself or are there capable mechanics near you?
Do you have a job? If you make 100k yearly and crypto as a side income buy now
user i can see your from australia. I am in the car sales industry here. I often post my cars up for the lols
If your going to buy new, youd be a fucking idiot not to buy the 2019 model coming later this year? I think. Or go buy a used one.
Some pointers
>finance is cheaper on a mew car - lower base rates
>if you strucutre the loan correctly (residual amounts, loan length) and commit to it, you can maximise your ‘interest paid back’ with a healthy balance of cashflow.
>finance is a product. Dont go sith the dealerships finance because they package it into one
I used to be a private car broker in Syndey. I am happpy to Answer and questions user for free. Whats your telegram?
Pic related, one happy customer of mine.
Lol i did read the part your in SE asia... brainlet
why u so mad though?
You only need like 6k. The rest will be paid in small sums/month that's nothing, it is the true way to buy like a good goyim.
so this is what subprime auto loans look like
stocks, etfs's are considered liquid assets.