Too fancy of a car?

[chisness]

I'm in college right now and in a couple years I'll probably get a new car (right now I'm in a '98 Corolla).

I don't generally spend too much and am trying to put almost all of my money away, but I figure it'd be nice to treat myself to a nice car when the time comes.

The question: Does it look dumb to get a $40k car when my first job out of college probably won't be earning much more than that? Would this work against an employee because the others would feel like maybe he doesn't "need" a promotion?

I'm concerned that it would look very wasteful in this situation. So what is the "nicest" car level that should be gotten in this case ($20k, $30k, $40k)?

[Patrick del Poker Grande]

Don't do it.

[miajag81]

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Don't do it.

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[Al P]

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Don't do it.

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[chisness]

So what car are we getting in this spot? A nicely loaded Camry?

[BillNye]

http://www.legogh.com/MOCpages/LEGO-Porscherrari-Car.jpg

its cheap, small and dosnt take gas.

[TheWorstPlayer]

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Don't do it.

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[SippinSoma]

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Don't do it.

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[TheWorstPlayer]

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I'm in college right now and in a couple years I'll have no need for a new car (since right now I'm in a '98 Corolla).


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[slavic]

A car is transportation, the best ones are "paid off" and cheap to run. I have a hard time seeing how the Carolla doesn't fit this model.

[peachy]

m3 and no...i bought one before i even had mah 1st job AFTER college and im gettin the 06 soon

[Shajen]

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do it.

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http://www.film-o-holic.com/pictures/stills/s/starskyandhutch_1_stiller_wilson.jpg

[Patrick del Poker Grande]

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m3 and no...i bought one before i even had mah 1st job AFTER college and im gettin the 06 soon

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You are entirely too proud of your M3. You need to stop bringing it up in every post remotely related to cars.

[IndieMatty]

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A car is transportation, the best ones are "paid off" and cheap to run. I have a hard time seeing how the Carolla doesn't fit this model.

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GEE THANKS!

http://www.nndb.com/people/824/000047683/carolla.jpg

I'm way too lazy/busy to make a gimmick account, so all of you just use your [censored] imagination.

[TheWorstPlayer]

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m3 and no...i bought one before i even had mah 1st job AFTER college and im gettin the 06 soon

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You are entirely too proud of your M3. You need to stop posting.

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[chisness]

id appreciate some real answers -- i realize a corolla is perfectly fine, but it makes sense to treat yourself to something nicer when possible

i'm wondering what range would be practical, nice, but not too flashy (since i suspect this wouldn't have a good effect at a new job/among new co-workers)

[Patrick del Poker Grande]

For a serious answer, I'd say stick with what you have for several months into the job. Wait and see what your living arangements are like and give yourself enough time to see what your budget is really like. Then, you can go from there to see how much you can afford.

[TheWorstPlayer]

The real answer is that you should stick with the Corolla until you actually have need for a new car. It looks stupid to drive a car that is too flashy for your status in life and it is a waste of money. If you feel like your car is too run down or whatever, fine, I would recommend a 1 or 2 year old Camry replacement. But my advice would be not to get it too pimped out. Moon roof, fine. Leather seats, fine. Subwoofer taking up the entire trunk, uh oh.

[samjjones]

This thread is CRYING OUT for David Wooderson...

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Don't do it.

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[Duffman]

Get yourself one of these bad boys.


http://eur.i1.yimg.com/eur.yimg.com/i/de/mov/kult14.jpg

[iMsoLucky0]

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Don't do it.

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Why shouldn't he "do it?" If he has extra money and wants a new car, he should get whatever the hell he wants.

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Don't do it.

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[TheWorstPlayer]

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Why shouldn't he "do it?"

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Because he doesn't want his friends, colleagues, and potential friends to think he is a big douche? And because he has proper values and doesn't want to blow half his net worth (or whatever) on a car?

[swede123]

Have you considered this: keep your Corolla and get something else for fun. I'm talking a motorcycle, an off-road vehicle like a Bronco or Scout or maybe an older muscle car or something. This way you have your practical, reliable transporation, but you also have something fun to drive when the mood strikes you.

Swede

[chisness]

god no

[chisness]

i'm talking 10% of net worth not 50% (at time of purchase)

[Patrick del Poker Grande]

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Have you considered this: keep your Corolla and get something else for fun. I'm talking a motorcycle, an off-road vehicle like a Bronco or Scout or maybe an older muscle car or something. This way you have your practical, reliable transporation, but you also have something fun to drive when the mood strikes you.

Swede

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This (http://maps.google.com/maps?q=buffalo+grove,+il&spn=0.055366,0.076647&t=k &hl=en) is where he lives (Chicago's left armpit).

[TheWorstPlayer]

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i'm talking 10% of net worth not 50% (at time of purchase)

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First point is still overwhelming, in my opinion. I mean, if you want to get a porsche with a vanity plate that says PKRPAYS go right ahead, but I think it makes you look like a douche. I had a good friend in college whose parents are very wealthy and told her she could get any car she wanted. She debated and debated and ended up getting a Volvo. She was extremely pleased with it and I think it was a very wise decision. Getting a Jaguar convertible (which she was debating) would have made her life considerably less happy.

[oddjob]

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Have you considered this: keep your Corolla and get something else for fun. I'm talking a motorcycle, an off-road vehicle like a Bronco or Scout or maybe an older muscle car or something. This way you have your practical, reliable transporation, but you also have something fun to drive when the mood strikes you.

Swede

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this is the best answer, if you're set on blowing your money. personally, i'd keep the corolla, and get a mustang fastback or whatever kind of car you can get for 10k or less. you can get some old school porsche for less then 10k and have a hell of a lot of fun driving them. and you won't feel like a complete ass licking retard for having such a fancy car at such a young age. and people won't see you as such an ass licking retarded for having such a fancy car at such a young age. and you have a cool car that will still pick up the ladies.

another motorcycle would also would be in my future, if i had an extra 40k to blow. probably a ducati monster (used) for like 5-6k.

now you got like $24k to blow on drugs and whores for a year. and since you have that vintage sports car that has kept it's value, and you get fired cause you're doing too many drugs and you have to start paying for medication to treat whatever VD you've contracted after a year of screwing sluts, so you sell the vintage car and motorcycle.

and you have your same old reliable corolla.

[YourFoxyGrandma]

Buy a new car when your old one breaks down. And don't spend freaking 40k, unless 40k somehow becomes chump change. Spending that much on something that is going to need to be replaced in 10 years or less is a huge waste of money.

[ScottTheFish]

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i'm talking 10% of net worth not 50% (at time of purchase)

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If that's true and you're paying cash it's not a horrible move financially. But it really will affect your relationship with your peers and coworkers.

My son goes to a private school and I dread when people ask me where he goes. I get the rasied eybrows and the "wow, I had no idea you were some rich bigshot" look. I hate it. I have more money than most of my friends and coworkers but you'd never know it by my lifestyle.

I'd much rather invest for the future and actually BE rich a little later on, than spend it all trying to look rich now.

Do yourself a favor Buy a reasonable car.

[peachy]

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m3 and no...i bought one before i even had mah 1st job AFTER college and im gettin the 06 soon

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You are entirely too proud of your M3. You need to stop bringing it up in every post remotely related to cars.

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no...im not proud of it...i just love the car...it gets great gas mileage...looks great...has lasted well...its an all around great car to me

[citanul]

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Spending that much on something that is going to need to be replaced in 10 years or less is a huge waste of money.

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I think this is a pretty narrow minded way of looking at things.

If Hero:

a) has a enough money that 40k isn't a huge amount of money to him
and/or
b) spends (will spend) a lot of time in his car
and/or
c) can buy something he'll actually derive a lot of enjoyment from

he should go ahead and spend the money.

as this is a pretty personal utility question, i don't think that oot is really qualified to tell him what to do. it's just basically he needs to figure out what he wants more in the short and long term, the 40k or the new car or say 20k and a different new car.

as for other cars you could look into, again it depends on what you want to get out of your car. if it's just you want something more comfortable to get from point a to point b in, a new civic is a nice car, a new accord (though more expensive) is a nice car. a pre-owned lexus, bmw, or acura are all nice cars.

go out and do some thinking about what you want and then do some research into cars you might like.

citanul

[shant]

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Don't do it.

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[Al P]

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i'm talking 10% of net worth not 50% (at time of purchase)

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So you'll be earning 40K you said - but will have a net worth of 400K right out of college?

[YourFoxyGrandma]

I don't think anyone here is telling the OP what to do; we're just giving opinions. He did ask for them, after all.

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Spending that much on something that is going to need to be replaced in 10 years or less is a huge waste of money.

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I think this is a pretty narrow minded way of looking at things.

If Hero:

a) has a enough money that 40k isn't a huge amount of money to him
and/or
b) spends (will spend) a lot of time in his car
and/or
c) can buy something he'll actually derive a lot of enjoyment from

he should go ahead and spend the money.

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I formed my opinion based on on these things but looking at A as an overwhelming factor. the OP said he's probably not going to be making more than 40k when he gets out of college. Assuming he can easily afford a 40k car, I don't see anything wrong with buying one, but it seems like that might be hard to do only making 40k a year. I'm making a few assumptions here (i.e. no secondary income) which may or may not be true, but I would hardly call my thinking "narrow-minded".

EDIT:I clearly missed this:

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i'm talking 10% of net worth not 50% (at time of purchase)


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Sheesh. Do whatever you want, man.

[TheWorstPlayer]

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i'm talking 10% of net worth not 50% (at time of purchase)

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So you'll be earning 40K you said - but will have a net worth of 400K right out of college?

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Maybe you aren't familiar with the people who post on this (http://www.twoplustwo.com) site?

[cdxx]

upgrade from the toyota, but don't go for new (i bought a 2 year old car coming off a lease, for example). make sure that it makes financial sense (some cars in $40k range come out to $700+/month including insurance, so not smart).

putting close to $500 every month towards loans, or just into IRA or some mutual fund is a great benefit to living cheaply.

[RacersEdge]

I would say 40K is a little excessive. I would keep it 30K max.

[Dazarath]

If you're a "long-term, save money" kind of person, the correct answer is obviously, stick with your Corolla. But I have nothing against getting a new car. Hell, I'd get one if I had 40-50k extra. (Extra meaning, I'm well-bankrolled for my stakes, I have extra spending money, I have money for my life expenses, etc etc, AND I have another 40k.) If you ask me for a specific price range, I'd say 20k or maybe 30k won't be too flashy (unless your first job is going to be at McDonald's, in which case your corolla may already be a "luxury"). I'd really say it depends a lot on the car though. Driving something like a Camaro looks flashier and will make you look like more of a deuchebag than a BMW 3-series (this is all IMHO, of course). So my answer to you is, if you're planning on spending 40k on a Corvette, and you worry that it'll look too flashy, then don't do it. If you're looking into a standard luxury car (ie. BMW, Audi, Mercedes), then I have no gripes. Keep in mind that this is coming from someone who is considering buying a car himself in a couple years when his bankroll has grown.

To peachy: You do seem overly proud of your M3. But who gives a [censored]? If I had 50k to spend right now, it'd be the car I'd get as well. Even though I wouldn't post about it (not too much, at least) on an internet message board, I'd probably talk about it enough that one of my friends would break my jaw. THEN I'd post about it on OOT until I could take the cast off.

[DasLeben]

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To peachy: You do seem overly proud of your M3. But who gives a [censored]? If I had 50k to spend right now, it'd be the car I'd get as well.

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She doesn't even have the $50k+ variety. She has the $20k-$25k E36 variety. /images/graemlins/wink.gif

Not that that's at all bad. I love the E36 M3.

You don't mention what you're looking for in a car, so it's hard to say. If you're looking for luxury, I'd say you could get a fully loaded Accord or Camry for well under $30k, an A4 or 3 series for not much more, or something really lux a year or two old for less.

I'd probably tell my co-workers that I got a great deal on a lease, though.

[Bluffoon]

If you want a nice car get a nice car and [censored] what anybody thinks.

[Voltron87]

im definitely going to be tempted to buy a m3 as soon as i go to college. though i don't like the latest incarnations. probably a good thing, preowned is cheaper anyway /images/graemlins/grin.gif

[tdarko]

i was told that when buying a car think of it like you would your bankroll. just because you have 1K and can buy in for the max at a 5/10NL table that doesn't mean you should do it.

wait until you have the proper net worth that supports a 40K car (it might be right now, i do not know your financial situation).

if its not logical don't do it, stick with the corolla till' it's done or until your feet or on the ground with your new job and you have a feel for things.

and it's stupid to listen to anyone that just says "don't do it" and doesn't say anything else, i hate it when people look at others with nice things and judge, calling them a "douchebag" or a "prick" b/c he can AFFORD what he has. now if he is driving a mercedes and has to live with his parents and eat spam b/c he spent all his money on his car then that would definately make him a douchebag. /images/graemlins/smirk.gif

[Patrick del Poker Grande]

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and it's stupid to listen to anyone that just says "don't do it" and doesn't say anything else

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What if he comes back and gives the real, good answer 15 replies (23 minutes) later?

[CamelZoo]

are you kidding? saying that you're not proud of your m3 and then citing its gas mileage is even dumber than both trying to show off that you have an m3 in an online forum AND denying that you're proud of it. lol.

corolla owner, get whatever you want, i'd advocate keeping it, but just remember that 40k is not just the 40k b/c of maintenance and gas costs, etc.

[Patrick del Poker Grande]

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just remember that 40k is not just the 40k b/c of maintenance and gas costs, etc.

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And INSURANCE for a young man driving a 40k car.

[tdarko]

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What if he comes back and gives the real, good answer 15 replies (23 minutes) later?




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ahhh patrick you weren't being a post count whore were ya? /images/graemlins/tongue.gif

this thread should have died after your serious post actually. /images/graemlins/smirk.gif

[tdarko]

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And INSURANCE for a young man driving a 40k car.


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this what truly kills yet nobody every thinks about it.

[Patrick del Poker Grande]

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And INSURANCE for a young man driving a 40k car.


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this what truly kills yet nobody every thinks about it.

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I hope he doesn't live in San Diego or Seattle (or other such border towns).

[Miggo]

I don't know if this was mentioned or not. If you don't own a home, use it on a downpayment for a house. Or put it away until you're ready to get one. If you already own a home, I say get any kind of car you want. I really don't think it influences your promotion chances etc. at work.

[Patrick del Poker Grande]

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What if he comes back and gives the real, good answer 15 replies (23 minutes) later?




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ahhh patrick you weren't being a post count whore were ya? /images/graemlins/tongue.gif

this thread should have died after your serious post actually. /images/graemlins/smirk.gif

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Meh. I don't really care a bout post count.

Also, most threads should be over after I give my genuine response.

Finally, your location is awesome.

You're not getting a car. Cars are for closers.

[peachy]

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To peachy: You do seem overly proud of your M3. But who gives a [censored]? If I had 50k to spend right now, it'd be the car I'd get as well.

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She doesn't even have the $50k+ variety. She has the $20k-$25k E36 variety. /images/graemlins/wink.gif

Not that that's at all bad. I love the E36 M3.

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i prefer the body style i have right now...the only reason im considering a newer one is the 06s look bad...i dont care about sayin o i have an 04 or 05...i love the look of my car

and im not overly proud of it...it has some serious sentimental meaning...yes its a flashy car TO SOME...but my point was at least its economical for me as well (gas mileage) Jesus...sorry i like this car so much...get over it

[AncientPC]

Make up your own mind. If you're looking to others for support on buying a $40k car out of college, then you don't need a $40k car.