Too fancy of a car?
 

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)?

Re: Too fancy of a car?
 

Don't do it.

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Don't do it.

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Re: Too fancy of a car?
 

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

Re: Too fancy of a car?
 

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

its cheap, small and dosnt take gas.

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Don't do it.

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Re: Too fancy of a car?
 

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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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Re: Too fancy of a car?
 

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

Re: Too fancy of a car?
 

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do it.

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http://www.film-o-holic.com/pictures...ler_wilson.jpg

Re: Too fancy of a car?
 

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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.

Re: Too fancy of a car?
 

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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.

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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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Re: Too fancy of a car?
 

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)

Re: Too fancy of a car?
 

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.

Re: Too fancy of a car?
 

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.

Re: Too fancy of a car?
 

This thread is CRYING OUT for David Wooderson...

Re: Too fancy of a car?
 

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Don't do it.

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Re: Too fancy of a car?
 

Get yourself one of these bad boys.


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

Re: Too fancy of a car?
 

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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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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?

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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

Re: Too fancy of a car?
 

god no

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

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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 where he lives (Chicago's left armpit).

Re: Too fancy of a car?
 

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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.

Re: Too fancy of a car?
 

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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.

Re: Too fancy of a car?
 

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.

Re: Too fancy of a car?
 

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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.

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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

Re: Too fancy of a car?
 

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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

Re: Too fancy of a car?
 

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Don't do it.

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Re: Too fancy of a car?
 

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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?

Re: Too fancy of a car?
 

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.

Re: Too fancy of a car?
 

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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 site?

Re: Too fancy of a car?
 

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.

Re: Too fancy of a car?
 

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