I'm in big trouble...
What ever happened to 'if you can't say anything nice don't say anything at all?' Leave the kid alone. If anyone of us had our pay cut in half, we'd all be making cutbacks, it doesn't have to do with the fact that he's young, or irresponsible, it's just an unseen circumstance. Good luck finding a better job bro, keep reaching for whatever aspirations you have, and don't let d1cks tell you you can't, or shouldn't do it.
buying a car with expenses that is half of your monthly earnings (when he was full pay) is a responsible thing to do? 
Losing his hours is unfortunate but I don't think it is a wise thing to spend half of your income on just a car. That is irresponsible in my eyes. That being said he needs to get rid of stuff.
At 60k a year i still had to think long and hard about buying my g35 because even though i could afford it I didn't need it.
Losing his hours is unfortunate but I don't think it is a wise thing to spend half of your income on just a car. That is irresponsible in my eyes. That being said he needs to get rid of stuff.
At 60k a year i still had to think long and hard about buying my g35 because even though i could afford it I didn't need it.
buying a car with expenses that is half of your monthly earnings (when he was full pay) is a responsible thing to do?
Losing his hours is unfortunate but I don't think it is a wise thing to spend half of your income on just a car. That is irresponsible in my eyes. That being said he needs to get rid of stuff.
At 60k a year i still had to think long and hard about buying my g35 because even though i could afford it I didn't need it.
Losing his hours is unfortunate but I don't think it is a wise thing to spend half of your income on just a car. That is irresponsible in my eyes. That being said he needs to get rid of stuff.
At 60k a year i still had to think long and hard about buying my g35 because even though i could afford it I didn't need it.
If he's only paying 4-$500/mth on rent (or living with parents) and he makes $1200/mth after taxes, he could easily afford it. There's a forum member here who claims he owned a Ferrari while working as a Valet, and again, it's all about priorities.
Thread Starter
Registered User
Joined: Apr 2012
Posts: 18
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From: Atlanta
When I got the car, I was making roughly 2k a month. It's complicated.... but at the time, the car payment was note breaking my back nor creating a stressful atmosphere. I simply paid my bills. I had money for the car that's that, now I don't, that's that. I appreciate you guys looking out for me, but you thinking about the situation I'm in is immature can be simply turned around on you for how you handle my reach for help/advice. Selling MAY be the only option at SOME POINT, but for now... why shouldn't I try my best to figure out what to do, to keep what I worked so hard for? To simply sell it or trade it in for a "beater" car would not be a very constructive answer. Thanks anyways.
You live in florida, no state income tax. Take home in other states is less.
another 25k "millionaire". Either get a 2nd job and make more money, or lower your bills to an affordable level.
You could trade your Z in on a older Z and lower your car note........not the best solution though.
You could trade your Z in on a older Z and lower your car note........not the best solution though.
10hr, avg 25hrs a week is no where near 1200 after taxes. More like 820 in georgia with the fewest exemptions. 880 with 2 exemptions.
1050 if he works 30hrs every week and takes 2 exemptions.
That is not enough to be spending 600+ a month on a car.
I was in your situation in college and it sucked!
You live in florida, no state income tax. Take home in other states is less.
another 25k "millionaire". Either get a 2nd job and make more money, or lower your bills to an affordable level.
You could trade your Z in on a older Z and lower your car note........not the best solution though.
another 25k "millionaire". Either get a 2nd job and make more money, or lower your bills to an affordable level.
You could trade your Z in on a older Z and lower your car note........not the best solution though.
10hr, avg 25hrs a week is no where near 1200 after taxes. More like 820 in georgia with the fewest exemptions. 880 with 2 exemptions.
1050 if he works 30hrs every week and takes 2 exemptions.
That is not enough to be spending 600+ a month on a car.
I was in your situation in college and it sucked!
1050 if he works 30hrs every week and takes 2 exemptions.
That is not enough to be spending 600+ a month on a car.
I was in your situation in college and it sucked!
POS, please explain how suggesting the OP buy a different car is “crap advice.”
You said it yourself, he needs to either increase his income or cut costs. Let’s be realistic, he currently works for $10/hr and is about to start college. The odds of him finding a high paying *legal* job that is flexible with class hours is extremely low, so that leaves cutting costs.
Assuming the OP continues to make the same income with a new/additional job he is netting somewhere around $1500 per month. That means he’s spending 50% of his income on transportation if you count the $450 note, $250 insurance, and for $100 fuel. 50%, I’ll let that sink in for a minute.
Now, by selling the z and buying a reliable, slightly older car with the proceeds he can cut his note to 0%, insurance to around $125 roughly, and gas down to about $75 with the right car. Now he’s only spending 13% on transportation.
If you live with your parents and don’t pay rent, electric, gas, water, food, have a woman, pet… the OP can get by spending ½ his money on a car. No one with any sense will tell you that keeping the Z in his financial situation is the right thing to do.
You said it yourself, he needs to either increase his income or cut costs. Let’s be realistic, he currently works for $10/hr and is about to start college. The odds of him finding a high paying *legal* job that is flexible with class hours is extremely low, so that leaves cutting costs.
Assuming the OP continues to make the same income with a new/additional job he is netting somewhere around $1500 per month. That means he’s spending 50% of his income on transportation if you count the $450 note, $250 insurance, and for $100 fuel. 50%, I’ll let that sink in for a minute.
Now, by selling the z and buying a reliable, slightly older car with the proceeds he can cut his note to 0%, insurance to around $125 roughly, and gas down to about $75 with the right car. Now he’s only spending 13% on transportation.
If you live with your parents and don’t pay rent, electric, gas, water, food, have a woman, pet… the OP can get by spending ½ his money on a car. No one with any sense will tell you that keeping the Z in his financial situation is the right thing to do.
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Joined: Aug 2011
Posts: 79
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From: Gainesville FL
Im a college student too...not making huge money yet but enough to pay my note (08 HR) base...and Good coverage Geico insurance ...here's what ya do...work the forty hour weeks at job one...every week try to maximize hours...then HUSTLE to make the rest...dude you can sell things online...do odd jobs like tree trimming...cleaning cars...whatever people will pay for...just find a talent and exploit it ...I can bring in extra 500 month by doing detail work ( of course it did cost bout 400 for a high speed buffer and gallons of each of my favorite Meguiars products and im trained detailer) but regardless ...just hustle the money up from other means! Even fifty dollars a week is two hundo a month extra!
It's all about priorities sir. If you don't have a family to take care of, you can afford a Z on his wadge. I don't understand why you hesitated on a g35 at 60k/yr. I only make about $46k and I easily financed a Z, without even putting anything down (and being upside down on my trade in).
If he's only paying 4-$500/mth on rent (or living with parents) and he makes $1200/mth after taxes, he could easily afford it. There's a forum member here who claims he owned a Ferrari while working as a Valet, and again, it's all about priorities.
If he's only paying 4-$500/mth on rent (or living with parents) and he makes $1200/mth after taxes, he could easily afford it. There's a forum member here who claims he owned a Ferrari while working as a Valet, and again, it's all about priorities.
The reason I had to think hard about it is because it's not priority. Having a g35 wasn't going to improve my life at all over having any other car to drive. It's merely a toy. If you've ever talked to financial analysts they will tell you when you purchase A HOUSE to select something that the mortgage will be 1/4 of your monthly income. That's a HOUSE....so if you are supposed to do that for housing how is it responsible to waste that kind of income on a car that doesn't provide shelter or give you equity? That's just ridiculous. People have completely lost what real priorities in life are. Everyone can afford health insurance if they just cut back on stupid things they don't NEED in life like 250$ a month tv packages, 200$ a month flat screen tv lein, half your income in a car payment....etc
When I got the car, I was making roughly 2k a month. It's complicated.... but at the time, the car payment was note breaking my back nor creating a stressful atmosphere. I simply paid my bills. I had money for the car that's that, now I don't, that's that. I appreciate you guys looking out for me, but you thinking about the situation I'm in is immature can be simply turned around on you for how you handle my reach for help/advice. Selling MAY be the only option at SOME POINT, but for now... why shouldn't I try my best to figure out what to do, to keep what I worked so hard for? To simply sell it or trade it in for a "beater" car would not be a very constructive answer. Thanks anyways.
It can be simply turned around. My fiance was making 80k a year as a head rep for Ambien. 8 years and out of nowhere they let go 40% of Sanofi Aventis (pharm company) which included her. Our total income went from 140k per year to 60k per year (online mine). Do you not think we had to adjust our living and remove some things that we didn't need? You aren't the first person to get your hours cut so don't act like the people giving you advice are just making stuff up.
Get a cheaper car, cut back other expenses and focus on school. School will get you further in the long run so why have all this stress and distraction that could lower your potential to learn?
I stopped reading after this. Thanks for telling me what my priorities should be in life. I'll make my own decisions from here on out, k? Your priorities might be those things, but they don't have to be mine.
Edit: To explain further, I don't necessarily agree with people who own $50k cars and live in $30k trailers, but that's their life decision to make. I pay more for my car per month than I do my housing. Why? Because I'm at my apartment for sleeping, that is all. I don't need to live in a luxury apartment, because I don't care about how it looks, or how nice the neighborhood is (to an extent that is). I put most of my money into my car because at my current point in life, that is my priority. It's my right to have that as a priority, and not yours to tell me that I need to change my priorities to match your view of perfection.
Last edited by SLOPOS; Apr 30, 2012 at 12:03 PM.
Join military. Then go to school for free. Deploy and pay your car off. I was in college for 3 years got tired of being broke. So now I have the military pay for rest of my school. Takes a bit longer to get where u wanna be end result in life IMO. But good experience a solid paycheck if u dot get stuPid.
Join military. Then go to school for free. Deploy and pay your car off. I was in college for 3 years got tired of being broke. So now I have the military pay for rest of my school. Takes a bit longer to get where u wanna be end result in life IMO. But good experience a solid paycheck if u dot get stuPid.
I agree. Do it for the experience. Steady pay. Free schooling free health benifits. Housing and food allowances Get a top secret clearance and make bank on the outside doing another govt job later on. Do it for your country. A lot of opportunity in the military but also has downsides but IMO its worth it.
I agree. Do it for the experience. Steady pay. Free schooling free health benifits. Housing and food allowances Get a top secret clearance and make bank on the outside doing another govt job later on. Do it for your country. A lot of opportunity in the military but also has downsides but IMO its worth it.