who's delivering pizzas!?

[GregV]

Papa John's you say?

[fistpoint]

Originally Posted by justaquestion

Um, no.. We have so many people deeply in debt in this country because the economy crashed as well as the job market. There is an accepted difference between being in debt, and financing something. Our economy will never touch what is was in the late 80s/90s but guess what? People still financed then.

Yes, and the qualifications to get those loans was much more strict back then. Handing out loans like they were candy to people who the banks knew damn well would default on was the the fault of Congress and the Consumer Reinvestment Act('92, '95 changes), NOT coincidentally right after the dates you posted.

The rock bottom low interest rates you see on homes and cars directly results in 110% worthless savings accounts. People used to actually make money in a savings account. 3% is pathetic, yet today that is a world marvel of an APR if you're lucky enough to score it. 1% is uncommon. .05% is common.

The other guy had it right, people themselves ruined the economy with their idiotic purchase decisions(namely housing) and it had a snowball effect. Just because the bank offered you a loan for a $250000 home with a $35000 income does not mean you can afford it. That's what happened to tons of people, they accepted the loan and the APR changed(per the contract!).

You can't fix stupid.

[luxmn]

Originally Posted by GregV

Papa John's you say?

lol thanks for the chuckle. i thought it was a guy i know for a second

[chulooz]

Originally Posted by GenkiElite

A decent pizza delivery guy usually makes about 15 hr, half of which is cash. They can afford it.

$15hr, thats money? This is a BRZ thats being bought not a 240sx.

[fistpoint]

Originally Posted by justaquestion

Um, you have it backwards. Banks were handing out mortgages more freely in the 90s, and as the economy started to slip, they continued to do so knowing what was happening. The economy crashed and nobody could pay their mortgages, meaning the banks stopped making money, hence the bail out. Today its very hard to get a mortgage, and that is because they really tightened the qualifications to fit the current economy, and its why its such a big deal on the news when you hear of banks who took bailout money and continued to lend to people they know could not pay for them had they cared enough to look.

That's exactly what I said, 1992 and 1995 is the 90's isn't it? Congress and Clinton. Fast forward 10 years and the the problem had ballooned out of control. It was brought to the attention of Congress and those in charge of the institutions said everything was fine. Would you like to see the video of their lips moving/lying before the crash?

Originally Posted by justaquestion

Lol wtf? Your saying that low interest rates on goods is the direct effect of savings accounts interest rates being lower? Right...

Low APR on HOUSES and CARS yes of course. Banks make less money from the big loans, so they lower the % they pay YOU with your savings account. That's how it always worked. High home APR, high savings rates, low home APR, low savings rates. How else would it work?

The down payment is also what screws everyone over. In the '70's and '80's people put significantly more down on both cars and homes. That changed too, now you can put as little as 3.5% on a home...zero on a car.

[Nevermore]

Originally Posted by chulooz

$15hr, thats money? This is a BRZ thats being bought not a 240sx.

I make $14 an hour and I can afford my FR-S. I live at home, but hey, my parents don't mind and I'll get a better job pretty soon, hopefully, so it won't matter much longer. I even pay rent, cheap rent, but rent no less.

[Scion]

What I don't understand is that the car was priced in the mid range between previous and current sport production vehicles. Yet everyone acts as if you have to be "well off to afford it". I believe it's priced for the middle class, which is the category many fall in.

[e30kawi]

I enjoyed reading this thread, its very interesting reading peoples take on finances.

Look at some of these people that buy stuff they can't really afford and instead of getting rid of some of their recurring debt they look for a second job. To me my time is worth more to me than minimum wage working a job I hate.

I had a friend who bought two motorcycles, a four wheeler, had a car payment, rent, and a big f250, all of which were on installments. He worked so much to barely make ends meet he never had time to enjoy his toys. Ignoring all good advice he choose to try to keep stringing the payments along until everything was repo'd.

Get in over your head with debt, sell your shit!

[earthsscum]

Originally Posted by GregV

Papa John's you say?

finally on topic

still need a 86 though

[engee]

Let's do some math shall we.

$15 x 40 hours = $600 a week

Government takes about 25% for income tax (depends on bracket though):

After tax, we get:

$600 x 75% = $450

To keep things simple, let's say there are 4 weeks in a month.

$450 x 4 = $1,800 a month is your monthly income.

Now, I hope you are a fiscally smart individual and will save at least 10% of your paycheck.

$1,800 x 90% = $1,620.

MSRP of FR-S: $24,930

I know some states have no tax, but in NJ there is 7% tax. So let's take the median of 3.5%.

$24,930 x 103.5% = $25,803

Per finance.yahoo.com, average auto loan interest rate is 3.65%.

Let's suppose you finance the full amount, monthly payments with that interest rate for 60 months will make your monthly payments $472.

$1,620 - $472 = $1,148

Depending on your insurance, you could possibly pay anywhere from $50 - $200 a month.

Let's take the higher rate.

$1,148 - $200 = $948

Now let's add in another allowance for gas. Current U.S. average is $3.613 for premium conventional per www.eia.gov.

Let's use the 3,500 every 3 month per oil change recommendations. That makes 1,167 miles a month at $3.613 and assume you get 30 mpg.

That means you pay $123 a month on gas.

So now we are down to roughly $825 a month.

If you have any other expenses (phone, rent, utilities, etc.), then you will go down even further. Also add in things like going out and other activities/hobbies that you might have. Can you make ends meet? Probably. Is it the smartest decision? I personally don't think so.

At the end of the day, it's your money do what you want.

Originally Posted by GregV

Papa John's you say?

[chulooz]

Originally Posted by justaquestion

I bought my first NEW car when I was 18. It was 23k.... I payed it off with a 35 hour a week job at Target, at 8.75 an hour while I was in school... 15 dollars is enough for someone living at home, or with roommates to buy a BRZ.

More than 50% of Americans don't even make 20 dollars an hour, so you are either really ignorant, or really young, or maybe just stupid.

Be nice!

I didnt factor in the concept of someone buying a new car but not living independently... sorry for being the 'just stupid' one here.

$15hr aint shit for a good living, especially around my parts.

[bucket]

Originally Posted by engee

Let's do some math shall we.

If you have any other expenses (phone, rent, utilities, etc.), then you will go down even further. Also add in things like going out and other activities/hobbies that you might have. Can you make ends meet? Probably. Is it the smartest decision? I personally don't think so.

At the end of the day, it's your money do what you want.

Priorities I suppose. In college, I was living on that $825/mo, and not really poorly, just like a college student. I agree that $15/hr is not much (hell, I wouldn't have bought this car when I was making $27/hr). My perspective is rather skewed though, and I have an expensive racing habit to support. If I was only making $15/hr, I sure as hell would get the 240sx + motorswap, and put the rest towards tires and having fun with aforementioned 240sx. Even now, I see buying a new car for $30k a rather great indulgence...I wouldn't even consider buying a car that is 80% of my yearly salary. Seriously, take that money and invest it...http://personal.fidelity.com/toolbox...h/growth.shtml (since this has already well derailed from a pizza-86). A car will only lose the money you put into it.

[GenkiElite]

I think some of you missed the point of half of that 15 hr being cash. Now I'm sure we would all like to think its all being reported but it isn't.

[velocity]

Hey, I see lots of people with low-paying jobs driving nicer cars than me.
And i'm a doctor. Just sayin.

[Allch Chcar]

I love how a thread about delivering pizzas turned into yet another financial discussion.

Originally Posted by GenkiElite

I think some of you missed the point of half of that 15 hr being cash. Now I'm sure we would all like to think its all being reported but it isn't.

Yeah, there is a specific option for reporting tips on income taxes. So what you are suggesting is still illegal.

[slizoth]

Yes in finance terms a car will only lose value, if you're number one concern is making good financial decisions you will never buy a new car.

I personally value experiences, traveling, outdoor activities, team sports, friends, and yes, driving a new BRZ which I love. If I were in any job, pizza delivery or other that required routine driving, I would absolutely buy this car all over again. That being said, I think work has to pay per mile to cover maintenance or provide you with a delivery vehicle, my 2cents.

[Snoopyalien24]

Originally Posted by engee

Let's do some math shall we.

$15 x 40 hours = $600 a week

Government takes about 25% for income tax (depends on bracket though):

After tax, we get:

$600 x 75% = $450

To keep things simple, let's say there are 4 weeks in a month.

$450 x 4 = $1,800 a month is your monthly income.

Now, I hope you are a fiscally smart individual and will save at least 10% of your paycheck.

$1,800 x 90% = $1,620.

MSRP of FR-S: $24,930

I know some states have no tax, but in NJ there is 7% tax. So let's take the median of 3.5%.

$24,930 x 103.5% = $25,803

Per finance.yahoo.com, average auto loan interest rate is 3.65%.

Let's suppose you finance the full amount, monthly payments with that interest rate for 60 months will make your monthly payments $472.

$1,620 - $472 = $1,148

Depending on your insurance, you could possibly pay anywhere from $50 - $200 a month.

Let's take the higher rate.

$1,148 - $200 = $948

Now let's add in another allowance for gas. Current U.S. average is $3.613 for premium conventional per www.eia.gov.

Let's use the 3,500 every 3 month per oil change recommendations. That makes 1,167 miles a month at $3.613 and assume you get 30 mpg.

That means you pay $123 a month on gas.

So now we are down to roughly $825 a month.

If you have any other expenses (phone, rent, utilities, etc.), then you will go down even further. Also add in things like going out and other activities/hobbies that you might have. Can you make ends meet? Probably. Is it the smartest decision? I personally don't think so.

At the end of the day, it's your money do what you want.

I like you. Hey guise! This guy knooowwss

Originally Posted by Allch Chcar

I love how a thread about delivering pizzas turned into yet another financial discussion.

Lol!

[GenkiElite]

Originally Posted by Allch Chcar

I love how a thread about delivering pizzas turned into yet another financial discussion.



Yeah, there is a specific option for reporting tips on income taxes. So what you are suggesting is still illegal.

When did this become a moral dilemma? It doesn't change the facts or the point. I don't think too many people give a shit about the pizza guy reporting all his tips, or the hair dresser, doorman, taxi driver, stripper or waitress.

Btw I'm pretty sure just about everyone on this forum breaks the law in their cars at least once a day. What's your point.

[RS2]

Originally Posted by engee

Let's do some math shall we.

$15 x 40 hours = $600 a week

Government takes about 25% for income tax (depends on bracket though):

After tax, we get:

$600 x 75% = $450

To keep things simple, let's say there are 4 weeks in a month.

$450 x 4 = $1,800 a month is your monthly income.

Now, I hope you are a fiscally smart individual and will save at least 10% of your paycheck.

$1,800 x 90% = $1,620.

MSRP of FR-S: $24,930

I know some states have no tax, but in NJ there is 7% tax. So let's take the median of 3.5%.

$24,930 x 103.5% = $25,803

Per finance.yahoo.com, average auto loan interest rate is 3.65%.

Let's suppose you finance the full amount, monthly payments with that interest rate for 60 months will make your monthly payments $472.

$1,620 - $472 = $1,148

Depending on your insurance, you could possibly pay anywhere from $50 - $200 a month.

Let's take the higher rate.

$1,148 - $200 = $948

Now let's add in another allowance for gas. Current U.S. average is $3.613 for premium conventional per www.eia.gov.

Let's use the 3,500 every 3 month per oil change recommendations. That makes 1,167 miles a month at $3.613 and assume you get 30 mpg.

That means you pay $123 a month on gas.

So now we are down to roughly $825 a month.

If you have any other expenses (phone, rent, utilities, etc.), then you will go down even further. Also add in things like going out and other activities/hobbies that you might have. Can you make ends meet? Probably. Is it the smartest decision? I personally don't think so.

At the end of the day, it's your money do what you want.




:

I had a pizza job 5years ago I was making 10$/h cash plus tips and I would only work about 5-6 hours a days and I was making around 150-200 per day... But I was using 1996 cavalier... Would I use a brz/fr-s
For te job never in a million years... Jobs like these you abuse your car in the worst ways I find. I personally feel that if you have to use your own car and gas to make money... Is just not right business if you 16-18 fine take the job but 16-18 wouldn't be driving a brz/fr-s. if je is then his selling some stuff on the side... Lol anyways that was my 2cents

[Allch Chcar]

Originally Posted by RS2

I had a pizza job 5years ago I was making 10$/h cash plus tips and I would only work about 5-6 hours a days and I was making around 150-200 per day... But I was using 1996 cavalier... Would I use a brz/fr-s
For te job never in a million years... Jobs like these you abuse your car in the worst ways I find. I personally feel that if you have to use your own car and gas to make money... Is just not right business if you 16-18 fine take the job but 16-18 wouldn't be driving a brz/fr-s. if je is then his selling some stuff on the side... Lol anyways that was my 2cents

$150-200 a day!? That's good money for being a pizzaman.

[RS2]

Originally Posted by Allch Chcar

$150-200 a day!? That's good money for being a pizzaman.

Yes but thinking about it, there's was no tax invole... And I was a student in that time so I didn't get rape by taxes

[Aetyrno]

Originally Posted by earthsscum

i've seen sti and evos and more expensive cars delivering pizzas

Back when I delivered pizzas I was making $70ish a night in pay and another $50-$150 in (under the table) tips.

Take home pay on a good day was close what I make now as an engineer after taxes and benefits... Averaged out to far less due to unreliable hours though.

Definitely doable to buy a car like this on pizza boy pay, provided you don't have a lot of other bills.