How do you know how what kind of car you can afford? I'm 21 making ~50k a year but still drive the Colorado my dad bought me in hs I see so many people poorer than me with nice cars how do they afford them?
They budget their income to include a car they want. It's not that hard.
They usually spend more on the car than they do other things. I actually used to know a guy who had a mid-00s BMW of some kind, and he just lived out of it.
Others will get some cut-rate used one and then neglect it until it dies, all the while wondering why it's making this horrible grinding noise after never changing their oil once.
a lot of people live beyond there means
or know how to budget for what they want
also sacrifices..
i live in a dirt apartment so i can have multiple vehicles, a cottage and a boat
20% down and 20% of your monthly income for the highest payment is a kind of guideline I heard somewhere and I kinda follow.
most people in america don't follow anything though and just open new debts and go overboard. that mexican dude you see with a new leased MB is dumping 75% of his money into the car and probably has massive debt while working his 30k job
>>14713827
This is the conclusion most people come to and I agree with it. Don't follow the 10% rule - dumb in my opinion, states that the entire purchase price of the car should be under 10% of your MONTHLY income. Only saying this because I've seen it posted by journalists which will end up with getting a beater. If you do this you can actually get something nice and that you want. A car is an investment that you need to get to places so it's worth it to spend a little more and not just get the cheapest piece of junk. And yes the complete opposite is bad too where you're spending more than 20% or 30% per month. Only exception is obviously if the extra money was you paying off the loan quicker.
Been reading longpost guy's stories and honestly it seems like most of the trouble relating to debt is to keep trading in depreciating cars which undoes most of the previous money you put into it. Do research and stick with your choice.
>>14713788
Look at your bank account's balance. This is what you can afford.
>>14716538
Idiotic. You're throwing money away if you don't finance.
>>14716557
>large_nose_rubbing_hands.jpg
>>14716557
>not giving money to banks is throwing money away
>>14713806
option 2 is best option
a Hyundai Sonata will run for a year and a half sans oil change
They can't afford the cars, their bank can. They don't own the car, their bank does.
>>14716568
>>14716586
>I paid my house in cash
>it's a cockroach filled trailer home but it's mine goddammit
>don't need no new car when I can just the majority of my free time keeping my $3000 shitbox running
Literally everyone who argues against using credit is a redneck moron or has no credit score
>>14716602
You made a valid argument, I bow to your wisdom.
>>14716602
going to have to agree with this guy
get off /pol/ and step into the real world kids, credit is the lifeblood of our economy and one of the most important human inventions off all time. Forget about enriching the Jews it doesn't matter, responsible use of credit will exponentially increase your standard of living
>>14713788
they probably sell drugs.
>>14716597
Actually they own the cars. The security of most car credits is the car itself tho
>>14716613
yes mr. goldberg.
i totally agree.
>>14716613
>living beyond your means through debt
>exponentially increased standard of living
Funny way of looking at things.
Using credit to purchase a liability is not going to increase your 'standard' of living. It is about feeling good now, fuck the consequences.
>>14716678
The trick is to not live beyond your means. If you want a house, and to simplify matters, lets say the house you want costs $10. You earn $2 a year, but in order to pay for other living costs you can only use $1 a year for house payments or savings.
You can work 10 years, and buy the house with your own money, but by then you'll probably have different needs, and the house in question may not even be in the market anymore.
The other option is going to a bank and financing the house. You pay $1 a year, and you live in the house. At the end of the road, you paid $11 for financing the house, instead of $10.
It's simple to see which of these is a better idea.
>>14713813
>a cottage
>dirt apartment
........
there is not a single modern car today worth buying
>>14716727
This thinking is how people get ruined.
>>14716864
Yeah if you're an idiot maybe. Everything in moderation. Just like having one beer won't kill you, financing a reasonable house won't either. Housing is a need, not a luxury.
The problem really starts when you start financing small shit, like appliances, or clothes. Then you always lose.
>>14716727
>tfw rich people probably look at my $70k a year income as earning $2 a year.
>>14716884
Nah, money is money. There's no need to feel bad if you practice financial responsibility. An idiot earning $200k a year who finances everything will be much worse off than a person earning half as much who finances only large, but necessary, purchases
>>14716634
>Actually they own the cars
>lien title
>bank owns your car
>>14716888
You're not understanding. I'm pointing out that some people are so rich, they consider my annual income to be something they would spend on a whim.
>Hey guys, look at what Frank is driving
>Frank drives up in a new 911 he has owned for 3 hours
>Frank gets out, I heard these things are like a nice Volkswagen, I was bored today so I decided to try out the 'peoples car'
>How delightfully adventurous, Frank. We were all just in the middle of sucking eggs out of live fish and polishing our monocles, would you like to join us?
>>14713796
>They budget their income
This.
How do some people manage to survive
>>14716262
Literally the dumbest 'rule' I ever heard off. It makes it impossible to buy any decent car even with a very large income. You are a retard.
>>14713788
Lots of people live beyond their means, but honestly if you're responsible you can go pretty far especially if you don't have bills. I knew a guy in high school who worked as a detailer and he saved up $20k over 2 years and bought an M3.
it's much smarter to save up $15k cash over an inordinate amount of time
and then use all of it buying a car in cash
so that now you have zero liquid cash to use for emergencies, and an 'asset' that will only drain money from you as time goes on
but at least obama didn't con you into getting those evil jew payments
dave ramsey would be proud, he hides his money in a coffee can stuffed up the fireplace
>>14713788
>how do they afford them?
Getting in deep debt.
Don't do that to yourself.
>>14713788
I am a house owner in rural Finland.
I drive a 13 years old MG and an18 years old Peugeout and I have a 16 years old Volvo sitting on the yard. I make 48k€/year.
My buddy doing the same exact job with the same exact pay next to me drives a 2012 M3 and pays rent for living.
It's all about are you fucking retarded or not.
>>14713788
Does your Colorado still work well?
Keep driving it, but start putting money aside into a new vehicle account.
When the Colorado has a serious failure, then you can look at that money and decide if it's worth fixing the truck or to use it for a different vehicle.
>>14718503
Not with interest rates so low.
The cost of a 60 month note at 2.99% on $30,000 is only about $2400. That's just over a dollar per day for the term.
>>14713788
>I see so many people poorer than me with nice cars how do they afford them?
loans
denbts
>>14716769
Laughing pretty hard at this
>>14713813
>not just living at said cottage
>>14716872
Just stop. He will never understand the virtues of credit and will be poor forever
>>14716864
this
>>14713788
They don't.
>mfw i see a 18 year old p plater working 2 jobs and paying off his new car loan on his sv6 ute
wagecucks gonna cuck
>>14719465
>b-but it's $500 per month
>i make $600 per month
>do the math, i can clearly afford it!
>>14716602
>don't need no new car when I can just the majority of my free time keeping my $3000 shitbox running
My 3000 dollar shitbox is doing better than my friend's 2013 fiesta, which has just gone to the dealer for transmission repair, and my other friend's 2012 sonata, which just had an engine failure at 45k miles, AND I'm not making payments. Just get gud at picking used cars senpai.
>>14719486
Seriously what the fuck is the point of this?
Then they have to pay insurance, fuel and other shit and i always see every bogan and his dog going backwards.
>>14719512
the average person is a retard
i read this article (economist, i think) and they mentioned an experiment capital one ran with a store credit card at a clothing store.
they offered two different sign up bonuses for getting a card and spending $100: $20 cash back or 30% cash back. which do you think was more popular? the $20 fuckin dollars. what can we assume from that? that people can't do math? it's astounding to me
i am convinced that the modern credit industry exists to abuse the retards. credit actually isn't evil if you use it appropriately. you can actually game them. in fact, i bet all the credit agencies in the world hate the guts of anyone who uses credit responsibly, as in appropriate budgeting, 100% on time bill payment, using and abusing discounts and rewards, etc.
>>14713788
They lease and put a high percentage of their income towards their car and image.
>>14716780
There's not a single modern car you can afford, anon.
>>14719538
>tfw grandmother is the poster woman for sweet little old lady
>would literally bake you a cake right there if you asked
>mfw watching her bend credit agencies over the table because of her near perfect credit score
Be careful with your money, live cheap and save some money.
I know a few 25 year olds that could pretty much retire because they work hard and know how to spend and budget their money. Everything's paid for and they got money in the bank.
I know this 26 yo chick who makes 300k a year welding but still lives at home. Lame right? We'll she's got a Ferrari, sooo... priorities man.
Asians know how to live cheap and save money. They live in "shitty" 100k duplexes that are paid for, eat cheap, but they get a new GT-R and S class every year. Priorities.
I also know people worth 10m+ that drive 2000's Corolla's and wear Walmart clothes.
>>14716613
>Yes goyim, live well beyond your means so you can have a new car every year and live in a McMansion with 10 empty rooms with 95% of your income going to creditors at a very reasonable 28.9% apr
>>14716613
>credit is the lifeblood of our economy and one of the most important human inventions off all time
AHAHA
AHAHAHA
AHAHAHAHA
stay in debt, goyim
>>14719465
>mfw i see a fat unemployed 25 year old virgin living at his parents and collecting centrelink
youre a plague on society
>>14721865
>get a new GT-R
>every year
>It's been the exact same thing for 9 years
>>14721945
>Muh 2hp increase and satnav update
