Greetings /biz/
>be mid-30's
>engineer at same place for 11yrs
>~110k/yr - can walk across the street and get a new job at any time.
> own a condo that I rent out
> rent a downtown apartment
> own a 10yr old car that is falling apart.
> ~7k in credit card debt
> just got $7k in federal tax return
>have a mere $2k in checking account.
>have $16k in savings account that I never touch.
>$240k in Roth Ira
>no wife, no gf(obvious) and no kids.
I got a $7k refund and that herpes-like credit card burden of $7k. I plan to pay it off immediately.
I will be *debt-free*
I'm looking at buying a $33k car (new).
Talk me out of it.
I know that feeling at a smaller scale. Just accept that like a business, it makes sense to have a constant level of debt that you can continuously roll over, especially if you can get good terms. For instance, when I get 0% interest or 0% balance transfer credit card offers, I'll use those to make purchases, then pay them off before the interest kicks in.
>>1104852
>10yr old car that is falling apart.
Why? What are you doing to this car that it falls apart after only 10 years? Either it was a piece of shit when you bought it, or you've abused the fuck out of it.
dude never buy a new car the depreciation is ridiculous in the beginning. If you buy a certified used one of the same model from last year you'll save 5-6 grand minimum
>>1104852
Google "eaely returement extreme"
I presume you dont dread work but is the slave labor worth it boyo?
>>1104892
I'm sorry I don't understand the things you typed into this thread.
>>1104866
>certified used
Not anymore, friend. Companies charge premium price for a lesser product, it's the 2015 way and it's here to stay.
So, anon, I actually did some research a few months ago and concluded that Subaru Outbacks depreciate by roughly 14% each year based on the listing prices on craigslist.
This means: the newer you buy the more money you lose when you sell.
If I were in your position, I'd buy about an 5-7 year old car and keep it until I started to get significant repair costs and then move on.
You're engineer I assume you know how to fix cars and repair complicated pieces of machinery. You're pretty much set for retirement with 240k in your IRA. I am assuming you're dumping the max 5k? If you're live close to your workplace, you should just bike to work. I think you should learn how to repair your car on your own.
>>1104925
>engineer
software engineer, so...
>>1104923
I appreciate the data. I do, however, have a bit of an emotional attachment towards the Subaru Outback (2015-16).
>AWD
>4cyl
>Leather
>EyeSight
>>1105021
Buy a 5-7 year old subaru then wait until the 15-16 one is 5-7 years old.
>>1105021
FWIW, a colleague of mine bought a 2016 Subaru Outback and loves it more than her husband, so if you have your heart set on new...
>>1104852
Wife and I are in the same situation. Just save a couple thousand a month and buy a used car around years end.
>>1104883
May I ask why you're buying an SUV? If I was in your situation I'd be looking at more sporty cars
>>1104852
Eh, don't fall for the car meme. I bought a 2016 Lexus RX350 and I cringe everytime I look at the bill.
Since the US might go into recession, hold off and dollar cost average your next 1-2 years.
Then buy a 2018 Subaru. If you get lucky, you might be able buy a luxury brand car instead.
>>1104852
Do what you want. I've figured out that you can't talk people out of being greedy and buying things they don't need.
>>1105021
are those fancy doodads worth 400$+ a month for more than half a decade? put it into perspective bro. an owned car doesn't require insurance on that vehicle, so insurance is 50% what it could be. also paying interest on a depreciating asset=no bueno
come on dude you're supposed to be smart and shit
>>1104852
If by new you mean brand new then no. But I bought a 2012 this year with 40k miles and holy shit is it worth it. I was driving old beaters like you since I was 16 (holy shit almost 15 years...) , my last one was a manual too. And I gotta say, having a big comfortable ride is the best thing ever. It sounds like you can clearly afford it. I would highly recommend. I bought a Nissan titan if you're curious
Idk if you're down for some work but you could buy a salvage title car and fix er up. Saves a shitton of money, did it with an 09 Audi TT a few years back for 10k (including repairs).
But in general, absolutely do not buy new. Subarus are nice and relatively reliable.
>>1105056
Valid point. I went through that phase where I daydreamed about BMW 3's and Audi A4/A5's...
I want a very functional car - I have a dog, I love road trips to the mountains/camping, etc.. and I am a relatively slow/conservative driver.
My friend has an older Outback and it's really nice - but lacks some refinements that I will definitely spring extra $$ for.
>>1105061
This. This is the kind of real-world buyers remorse that keeps me up at night.
I considered a 2013 Lexus RX450h AWD but then realized that only Asian women drive that car (in Southern California).
>>1105072
The logical part of me really follows but this is definitely an emotional/vain purchase. I don't need and iPhone 6, but I jumped at the chance to get one in the first week.
I make decent money and I drive a shit-tier car compared to my peers. I'm not reaching for the stars by financing a Tesla - I feel like I'm buying a pricey functional car that will last me 10yrs, family-ready, safe, reliable, etc...
I know there's no easy way to stomach a $32k toy.
>>1104852
Just buy a pre 2010 car with less than 100k miles on it, OP. Save fucking money. You god damn Mongoloid.
>>1104925
>pretty much set for retirement with 240k in your IRA
not really
>>1105021
how do you have an emotional attachment to a car you don't even own yet, that you're trying to get us to talk you out of?
but yeah, buy one that's like 5 years old.
>>1106067
This car allows me to do some things that I can't do these days ... namely, road trips with a load (of people, dogs, gear).
There's definitely a perception of lifestyle freedom here rather than vanity...although I can buy an older version, i just feel like private sellers and used car dealers are always trying to get over on me, or pass on a problem to a sucker.
Oh and new car smell is nice.
Realistically, how often are you gonna take road trips dude?
