5 ms·

car payments and insurance on a $50k car is approximately half of post-tax income at a $40k salary. and people wonder why the economy is shit?

by noodle 18y ago

rms 18y ago
Figure that the people with the $50k cars are making at least $70k -- not unreasonable at all for developers or successful freelancers.
- captainobvious 18y ago
  Damn, that is insane. I lucked out and made $110k my first year out of college and rewarded myself with an almost brand-new Camry that had a couple of scratches for $12k. Now I'm kicking myself after finding out about the Chevy Prizm through this thread. I can't believe someone who was making $70k (~45k after taxes/social-security) would trade in more than a year of 8 hour days 5 days a week in some shithole development job just to be able to commute in style (though perhaps he just wants to engage in parking-lot dick waving for some girl at the office; fine, I can believe it).
  - rms 18y ago
    I got a new Elantra. I'm happy with it.
brk 18y ago
A rule of thumb I've used is that your vehicle shouldn't cost more than 1/2 years salary. Just as a method of keeping things in proportion. A $50K car on a $40K salary is basically a recipe for fail, based on some of icey's previous comments, I'm going to guess he's a tad above the $40K salary range.
- icey 18y ago
  While I appreciate everyone's concern for my financial well-being, I promise buying a car won't put me in the welfare line. I said this elsewhere in the thread, but it's grown much larger than I'd expected - I don't expect to spend 50k on a car, but it at least provided some limitations - I mean, with an unlimited budget I'd go buy an Aston Martin Vanquish and use that for my daily driver. Maybe there are people who aren't me who are interested in similar things. I didn't feel like over-limiting the question; I honestly didn't have the intention of making this a "Dear lazyweb, buy me a car plz ok?" sort of thread. I was genuinely interested in what sort of daily drivers hackers prefer. For whatever it's worth, there have been some very interesting answers that have had me spending time at Edmunds looking up cars that I hadn't thought about checking out before.
  - whatusername 18y ago
    I think the question skirted the bounds of HN - but I think you're just ok. For those complaining - this is likely (I haven't seen the stats) predominately male audience full of people who generally like gadgets/electronics/engineering/technology. There's going to be a lot of car-guy overlap into that. I'm currently driving a Toyota Celica (and definately enjoy it) - although since toyota withdrew them a couple of years ago - your only choice is 2nd hand now. And for my recommendations: 135i Mazdaspeed 3
pxlpshr 18y ago
Seriously! Basic financial management needs to be taught in public schools... I'm blown away by some of the comments in this thread.
deleted 18y ago
[deleted]

car payments and insurance on a $50k car is approximately half of post-tax income at a $40k salary. and people wonder why the economy is shit?

by noodle 18y ago

car payments and insurance on a $50k car is approximately half of post-tax income at a $40k salary. and people wonder why the economy is shit?

rms 18y ago

Figure that the people with the $50k cars are making at least $70k -- not unreasonable at all for developers or successful freelancers.

captainobvious 18y ago
Damn, that is insane. I lucked out and made $110k my first year out of college and rewarded myself with an almost brand-new Camry that had a couple of scratches for $12k. Now I'm kicking myself after finding out about the Chevy Prizm through this thread. I can't believe someone who was making $70k (~45k after taxes/social-security) would trade in more than a year of 8 hour days 5 days a week in some shithole development job just to be able to commute in style (though perhaps he just wants to engage in parking-lot dick waving for some girl at the office; fine, I can believe it).
- rms 18y ago
  I got a new Elantra. I'm happy with it.

brk 18y ago

A rule of thumb I've used is that your vehicle shouldn't cost more than 1/2 years salary. Just as a method of keeping things in proportion. A $50K car on a $40K salary is basically a recipe for fail, based on some of icey's previous comments, I'm going to guess he's a tad above the $40K salary range.

icey 18y ago
While I appreciate everyone's concern for my financial well-being, I promise buying a car won't put me in the welfare line. I said this elsewhere in the thread, but it's grown much larger than I'd expected - I don't expect to spend 50k on a car, but it at least provided some limitations - I mean, with an unlimited budget I'd go buy an Aston Martin Vanquish and use that for my daily driver. Maybe there are people who aren't me who are interested in similar things. I didn't feel like over-limiting the question; I honestly didn't have the intention of making this a "Dear lazyweb, buy me a car plz ok?" sort of thread. I was genuinely interested in what sort of daily drivers hackers prefer. For whatever it's worth, there have been some very interesting answers that have had me spending time at Edmunds looking up cars that I hadn't thought about checking out before.
- whatusername 18y ago
  I think the question skirted the bounds of HN - but I think you're just ok. For those complaining - this is likely (I haven't seen the stats) predominately male audience full of people who generally like gadgets/electronics/engineering/technology. There's going to be a lot of car-guy overlap into that. I'm currently driving a Toyota Celica (and definately enjoy it) - although since toyota withdrew them a couple of years ago - your only choice is 2nd hand now. And for my recommendations: 135i Mazdaspeed 3

pxlpshr 18y ago

Seriously! Basic financial management needs to be taught in public schools... I'm blown away by some of the comments in this thread.

deleted 18y ago

[deleted]