so i did all the math and checked out my budget. i want to get an evo IX, but i would have to finance about 2/3 of it and that will end up being 44% of my "free money"...NOT 44% of my income, but the money i have left over after taxes are taken out, my bills, rent, food, insurance, car payment, etc. in essence this "free money" would be the money i use to buy things that are not essential.

cliff notes: getting car would eat up 44% of my "play/free money"

where i need advice: would you do it?

 

I dont think thats bad at all. If the evo costs $4xx a month, I dont think a lot of people have $1000 of free money after paying all their bills so I think you are doing fine with that much left over.

 

Why not? The evo is taking up nearly 100 percent of my "free money," and I can't even drive it, because I have no issurance... I just love it that much.

 

I would recommend getting financing through your local credit union or the bank that your family uses. They will look at your financials and give you an honest answer about whether you can afford this car or not.

The dealer just wants to sell you the car, so they don't really care if the payments will put you in a financial hardship. Unless you can get a fantastic interest rate from them, I would avoid dealer financing.

 

FWIW, "free money" as described above is called discretionary income.

 

if you're not going to save or invest then do it. but if you want to buy toys and go out and play besides just driving...then don't.

 

In a way 44% isn't bad a bad use of your fun money. Especially since it's also transportation. But it also depends how much money you are really talking about and what you're willing to give up for the car.

 

If you really have that much $$$ left over at the end of the month, why not use it to go towards an EVO? Is this a replacement car, or an additional? I could think of many things less worthy to spend your $$ on than an EVO which will be useful and fun. I say go for it!

 

Do it.... you live once... I just pulled the trigger on one and have no buyers remorse at all.. the way I justify things is, "when I am 65, 70, whatever, am I going to sit there and be like, "****" I wish I hadn't bought that car back in 06"... NO.

 

44% of your "fun money" is nothing! Do you work at ups? You should be able to afford two evo's. A couple of my buddies drive for UPS and they make almost $35 an hour. Pisses me off because I drive for Budweiser and make $27 an hour delivering kegs and all they do is walk packages up to peoples door steps. Talk about cake, they wont hire me because I have full sleeves tatooed from when I was in the Marine Corp. While I am throwing out numbers I must admit that Michigan is much much cheaper to live than San Jose so $35 an hour is a lot of money here. You should buy from South Coast in Costa Mesa. They are offering a deal that couldnt be beat anywhere here in Michigan. I just bought one there last week. Even with me flying out there, and driving back I saved over $3000.00, not bad but a long drive.

 

thanks! i've always been fighting for a good description of what i'm talking about!


yeah, but i just started as a driver. believe me, if i was at top scale (2 years from now)...i wouldn't think twice about buying one. . that's also part of my reasoning. it will be 44% of my "free money/discretionary income" NOW, but when i hit top scale...it will be less than 10%...lol.

 

And you get to wear that cool brown outfit!

I'm not teasing you. When I see the female UPS drivers in those cute brown shorts......oh yeah baby.

Hopefully some girls are thinking the same about you!

 

...i could only hope

 

No way! Nearly half your income on a car? Not a good idea at all -- especially a Mitsu that depreciates like mad. Either buy a used VIII or wait another year or 2 and then pick up a 9.

 

Auh buddy....he didn't say 44% of his total income it would be 44% of his discretionary income, big difference.

Oh and btw I would do it, I think mine right now it taking up about 75% of my discretionary income, including mods....it would take 100% but then I wouldn't have a girlfriend.