Thread: 2004 Evolution VIII (Possability)

Originally Posted by nFiniteTuning

Uhm, HAHA yes I can....$1800 take home exactly. The car payment will be 560 a month, Insurance is 300 a month, that leaves me with 940 a month to play with.

play with? you mean pay for food, utilities, gas, and rent? You mentioned a fiance, so you can't be living with your parents after the wedding.

And I do not want to inform my parents on the new car thing, cause I wont hear the end of it.[...]and my brothers tell me I need to get my own place[...]

Sounds to me like you might not be living with your parents when they find out you bought a $37,000 car. I did some math, and the only way you are getting it for $560 a month is with a 72-month term. Think about that--6 friggin years. Would you be at all excited about getting a $560 payment on a 2001 Evo? Doubtful.

You also gotta think about crap you don't think about. What if you lose this job, for whatever reason? You won't be able to sell the car and cover what you owe because the term is so long. You need to have some money saved up incase something like that happens, and with almost half your income dedicated to a new toy, I don't forsee you saving any money for contigencies. You are gonna set yourself up for some REALLY hard times if you buy this car.

No, dude re read my post. Play with meaning I have nothing else to pay for. Food, Gas And utilities are allready covered...And yes its a 72 month term. I wanted an 80 month term but he said my percentage will go up for that...and 2001 Evo? Its a 2004 BRAND NEW EVO8. It has 15 miles on the odometer, HID Headlights, Leather Recaro Interior, 6 Disc In Dash Changer, you name it, it has it. And I Wont lose my job for 8 years. ITs a contract. If they hire me, They will not fire me for a very long time unless I do something really ****ed up, and this is the type of Job I love to do...I'll be babying it.

And my parents wont kick me out if I buy a $36000 car. But if they found out I was thinkin about it, they would probably *****. You dont know my family, its like competition...a friend of the family just bought a 310hp mustang just so he can beat my accord. And I will have money saved up, I'm going to repost the EXACT MONEY SITUATION so you can look it over.


$12 x 80Hours A Week = $960 gross x 2 pay periods a month = $1920 Gross a month - Taxes (if my calculations are correct, which they most likely are) = $1800-$1850 - Car Payment W/5% APR Financing = 1240 - Car Insurance = $940 - Rent = $505.

That means I have 500 bucks left over to play with...Yes, Play. Play = Mod my fiance's car or my car, buy us a bigger TV after a few months of saving up, Saving up money for retirement....I'm starting this job at this minimum pay of 12 an hour. This is the type of job that you dont continue making that ammount, They send you to get trained on a new subject and they up your pay a buck or more...By the end of the 8 year term, I will be probably making 18 an hour. Recently that company just uped my dad's pay from 25 to 28!!!! He's been working there for 30 years. And I plan on working there for 30 years.

So, if I save up 500 a month, thats 6000 that I have in the bank for whatever spending I might need. Like Emergencies (which I have every benifit in the book with this job), Car wreck, Loosing my job and having money saved up to continue to make car payments while I look for a job....

I seriously dont see how you can see that I will be unable to afford this.

Remember, they said they will make me a deal. I dont know how good of a deal, but I'm sure they can drop it down to 35k.

my point with mentioning a 4 year old car with a payment that high is that in 4 years, you will have a 4 year old car with a payment that high.

See, NOW you mention rent, which you didnt earlier, which brings your "play with" figure down from $940 to $505. What about food? Electricity? Phone? Internet? Cable/Satellite? Clothing? With all that, there is NO WAY you can save $500 a month. I hope you don't also have credit cards to pay off...but I don't think you do so that's a really good thing.

So it's a contract, eh? Well, what happens if you get hurt or sick? What happens if your new wife gets pregnant, and all of a sudden you have to think about buying food for 3 instead of 2? Don't say "that won't happen" because you don't know that. Neither do I.

Do this favor for yourself, I beg of you: get settled in the job before you go buy the car. Then you can figure out if you can really afford to buy a car like this. After 3 of 4 months, you will be able to see what your living expenses will work out to. You definately don't want to miscalculate what you need for food.

Well...My fiance wont let me pay for food, cause she wants to handle that. Internet I get for 5 bucks a month from Comcast Cable just because I'm gonna be moving in next door to my brother and he's gonna add a second IP for me for 5 bucks more. Clothing...I'm a guy, I have new clothes that will last me the next 2 years. For her, she's not really gurly. She has like 3 pairs of pants and a few shirts and she'll buy a new shirt or pants every 3 months or so. And, I can afford a kid if it happens, I'm not scared about her getting pregnate. But, her and I have to make sure it DOEsnt happen until she's out of college. I can't be responsible for her giving up her dream.

And like I said, this job gives every benifit in the book, so I'll have medical, dental, 401k, all of that stuff.

if I can handle living with 900 less then what I will be making, I can handle living with 900 more a month and a car payment.

Utilities are paid on this apartment, this apartment is furnished for 435 a month! You may think I'm a stupid 20 year old. But I'm not. I am not the type to just jump into something without knowing what I'm getting into. I do calculations on everything, and I make sure everything is worst case senerio. Just to make sure I have money left over.

And, its an Evo8....560 bucks a month in 4 years will be WAY Easier. I'll probably be making in 4 years, 15 an hour. And in 4 years my insurance will be lower. When you turn 21, insurance goes down...when you turn 25, insurance goes down again. So in 1 year, my insurance will drop down about 15 bucks or so, I'm not too sure exactly, but I can find out...then 4 years after that, my insurance drops down again ALOT...and my pay rises ALOT.

Also, I don't think your takehome is going to be as much as you think. Social Security alone will be 7.5% of your gross, which will knock you down to $1776. My calculations, done at www.paycheckcity.com , come out to $1588 a month filing single and claiming only yourself as a dependent. Lucky for you, Nevada does not have State Income tax

BTW, I put my info in that calculator, and it was within $10 of my monthly take home pay. PLEEEEEEEEEEASE wait to buy your "dream car" until you know you can afford it!

Originally Posted by wizardPC

Also, I don't think your takehome is going to be as much as you think. Social Security alone will be 7.5% of your gross, which will knock you down to $1776. My calculations, done at www.paycheckcity.com , come out to $1588 a month filing single and claiming only yourself as a dependent. Lucky for you, Nevada does not have State Income tax

BTW, I put my info in that calculator, and it was within $10 of my monthly take home pay. PLEEEEEEEEEEASE wait to buy your "dream car" until you know you can afford it!

I can't. IT will cost more. Thats what your not understanding. I can afford this 04 Evo8...I CANNOT afford a 05 EvoMR. They are not going to be selling any Evo8's any more....The 06 Evo9 is going to be released june of this year...and the price on the 05 MR wont go down that much. I dont like the MR because of the wheels and it doesn't come with HID's or leather.

And I'm not workin to pay off this car in a year. I dont know where you guys get that stuff from, but its stupid. to be able to afford a car you have to be able to afford 3x the car payment a month. I am not going to pay it off in a year. I'm going to pay it off in 6. So, thats 120,000 for a 35k car!