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/biz/ - Business & Finance

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55145128 No.55145128 [Reply] [Original]

How much should you be spending on are car? Is leasing ever a good financial decision?

>> No.55145225

>>55145128
5% net worth (unless this is unfeasible and you're getting the bare minimum in order to work)

Yes, if you can make more investing your savings of the net cost of the vehicle than you pay in interest.

>> No.55145268

>>55145225
Your math says I should pay no more than $75k but I could easily do 3x that.

>> No.55145368

>>55145225
So according to your math, I need 400k to purchase a car worth 20k. Could you explain the logic behind this to me?

>> No.55145405

>>55145225
5% seems high to me
>net worth 400k
>car value 4k
of course, TCO is more important than sticker price. most people can't service their own car so below a certain value their TCO actually increases.

>> No.55145731

>>55145225
>>55145405
>>55145368
Are you guys unfamiliar with how much cars cost these days?

>> No.55145762

>>55145731
I’m on the same page as you. I do not believe it is feasible for most people to only spend 5% of their net worth on a car. Not easy to find a decent vehicle for less than $5k these days. Not saying they aren’t out there.

>> No.55145787

>>55145128
I bought a 2003 V8 Toyota 4runner SR5 4x4 SUV for $6000 a few years ago and it's the best car I've ever owned. Never not buying Toyota again.

>> No.55145804

>>55145762
It's a good rule of thumb if it's a vanity purchase, if you don't have a car at all and need one he already made an exception for that

>> No.55145824

>>55145787
I hate to tell you this, but their quality went to shit about 10 years later. Toyotas were really good from about 1986-2012.

>> No.55145836

>>55145824
Oh I know, I saw a sequoia the other day with a twin turbo V6. Lmfao. I meant I'm only buying used Toyotas.

>> No.55146748

What brands?

>> No.55147048
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55147048

This would be 8k now

>> No.55147056

>>55145128
I smoke two joints a day and I make 200k a year. Does that make you mad?

>> No.55147091

>>55145128

Leasing is never a good decision. Leasing only makes sense if your financing terms are total shit. If that's the case fuck off and fix your shit before you look for a car

Get a 3-5 year old honda or toyota with less than 50k miles on it. Drive all you want and watch it hold every dollar of value when you go to resell it

>> No.55147126
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55147126

>>55147056

>> No.55147259
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55147259

>> No.55147263

>>55147126
Ya you mad

>> No.55147272

>>55147263
>t. Seethes if anyone says anything bad about his weed
Mind broken and low t

>> No.55147293

>>55145762
Come To /o/ and we will help you buy a 5k shitbox.
Hint it's a clapped out corolla

>> No.55147306

I would say 10% of your annual salary, not net worth, is the absolute most you shoulld pay for a car. I make 78k. 10% of that is $7800. Divided by 12 for a year of payments, comes out to $650 a month maximum payment. Even that looks terribly high for me, but anything past 10% of your income for a car is rough on your finances.

Also pay your car off as past as possible, never make mininum payments unless your interest rate is 1-2%.

>> No.55148892

>>55147293
Japs always win

>> No.55148905

>it's night time in America, time for another timewasting thread with the same exact picture

>> No.55148917

>>55148905
>t. Incel seething at the thought of a business and finance thread

>> No.55148941

>>55148917
Please stay on topic, we need to discuss this very important and interesting topic related to business and finance. Ad hominem is not an acceptable presence on this subreddit. I look forward to your next thread with the exact same image and file name from your mobile device after you return from your shift tomorrow night but please bring a better attitude.

>> No.55148951

>>55148941
>we need to discuss this very important and interesting topic related to business and finance.
Indeed

>> No.55148959

>>55147056
even giving up weed wouldn't make you any less of an addict, kek

>> No.55149000

>>55145128
Leasing makes sense if you make 500k a year (post tax) and your bitch wife needs a car that she'll get tired of in 3 years and want another one.
If you're a tradie get a good work van or work truck and shell out the 100k-150k. Take good care of it and it'll last half your career. Used work vans are usually garbage and you'll spend more money fixing the damage from the previous owners meth fueled binges over the lifetime of the vehicle than buying new.
If you're a WFHcel just buy whatever the fuck you want. Beater dogshit for 2k? If it blows up who cares. You don't need it to go to work. A gay ass little manual transmission Miata? Go for it, take good care of it and it won't drop in value. Some cuck hatchback shit? Yeah, whatever, who cares.
Now if you're in sales or en prem work? Just get a fucking CR-V if you have a family or a 25k new sedan if you don't care about space. Used prices are fucked right now, just get one new and call it good.

>> No.55149006

>>55147056
Funny that every thread with this picture has someone addicted to weed who makes a round number? Curious even?

>> No.55149035

>>55145128
I believe you should aim for a car that is 10% or less of your annual income.