normal life?
2006-06-20 10:11:14 · 14 answers · asked by Anonymous in Business & Finance ➔ Investing
75k... 6.25k a month then
The average income percapita of an american citizen is 42k (according to 2005 survey ) a year, which means 3.5k a month
assuming you already have a home, then you have a budget of:
( 6.25 - 3.5k monthly payment ) x 12
or
2.75k monthly payment x 12 = 33.000 US$
If you spend that much on your car, then you will be an NORMAL AMERICAN CITIZEN in every way, except for the quality of your private transportation
2006-06-20 15:42:49 · answer #1 · answered by dojodomo 3 · 0⤊ 1⤋
A car is (almost) never an investment.
It is variously: a tool; a luxury; or a status symbol.
You need to decide whether your budget affords you either the luxury or the status symbol. Even if you can afford it you need to consider whether the car is a high enough priority to exclude other luxuries - you can get a really nice HDTV, lots of movies and a great vacation for the same amount. As for status symbol, you will appear very sad if you spend a massive amount on one thing and look poor in every other area of your life.
You should assume that the car will depreciate at 20-30% per year. This, combined with insurance and maintenance will set you back a substantial amount of cash for the first few years. After four or five years, the effective cost is smaller - but you no longer have a shiny new status symbol.
My advice would be to buy an older "cool" car and get attention by maintaining it really, really well.
2006-06-20 10:32:45 · answer #2 · answered by hbarrass 3 · 0⤊ 0⤋
I would buy a $5K car and buy a cheap house and invest wisely for 30 years and retire to a house and land in Colorado.
The other "normal" way to look at buying cars is to take 1/2 your annual pay and do not exceed that number for the purchase price. A house should not exceed 3 times annual salary.
2006-06-20 10:50:41 · answer #3 · answered by robert t 1 · 0⤊ 0⤋
Why are you obsessing over your car so much (at least 4 questions)? I guess I'll never understand. After taxes, shelter, food, and everything else, figure out how much money you have. Would you rather have that money growing in a 401k, Roth IRA, etc.? Or would you rather have that money deprecating every year in a car?
Map out a budget based on your income and expense and you should see how much you have left over to spend on the luxury car that you seem to be going for. You can't tell based on just one side of the equation.
2006-06-20 10:16:44 · answer #4 · answered by Arbitrage 7 · 0⤊ 0⤋
LOL sugarbear...
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seriously though.. me personally? w/ that income? i'd buy a house first.. because that's single most important investment you'll ever make
but if you really want a nice car.. don't spend more than your annual income (after taxes).. so let's say 50k at the most
you can get a nice luxury car w/ that.. maybe an E class benz, 5 series beamer, or a lexus gs430.. those would be my choices
2006-06-20 11:25:05 · answer #5 · answered by do it movin' 1 · 0⤊ 0⤋
Dont know if u can afford it but if i had alot of money i wuld buy the fastest and most stylish on the market right now, just to show off.
2006 Bugatti Veyron 16.4
Top Speed mph (km/h): 253 (406)
Type: Quad-Turbocharged W16
Torque lb-ft (Nm) at RPM: 923(1250) / 2200-5500
Redline at RPM: 6500
In UK Money £810,000
This is my personal Fav
2006-06-20 10:20:40 · answer #6 · answered by r0ck_fr34k06 2 · 0⤊ 0⤋
Considering you've asked this question about 10 times in slightly varying ways, I'd say living a normal life for you is already out of the question. Good luck with that...
2006-06-20 10:14:34 · answer #7 · answered by Sugarbear 3 · 0⤊ 0⤋
I'm assuming you want to impress people with your car.
Buy A 5or6 year old BMW That is in perfect shape.
This will show people you have had money for a while.
Remember most really rich people drive 3 year old Honda Accords.
Trey are not really interested in appearances.
2006-06-20 10:24:49 · answer #8 · answered by James A 4 · 0⤊ 0⤋
I probably wouldnt look any higher than a 30000 dollar car, you can get a very nice car for that...Infiniti's are nice, a M35 or M45 is great...classy, but not the price tag of a bmw or benz
2006-06-20 10:15:03 · answer #9 · answered by perfectguyw/othelooks 2 · 0⤊ 0⤋
Look at the Infiniti G35 or the Acura TL.
2006-06-20 10:15:38 · answer #10 · answered by Brian 5 · 0⤊ 0⤋