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Speaking of the OP specifically (not a programmer from what I'm seeing), I would look for a niche within the interest/education you have and network network network. Damn this got off topic. :) |
I'm 25 and take 1.5 times more than you approx and have A LOT more than you in savings. my gf and I are looking to buy a house and we currently live at my parents place. (no problem living at home and i prefer to use rent money to save for a house downpayment.)
a house is priority and I have set aside some money for a downpayment for a fun car. my goal is to pay for a fun car in cash. the longer you wait, the more you save. maybe there will be a new supra, or other cars you'll like. I'm hoping there will be some better cars, but i really want an frs now! sucks I know but I know what you're feeling |
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I'm 18.. senior in highschool and i pay and have paid off every single penny of my car and gas, but then again i don't have the bill utilities like you do. Just save up enough for a down payment and at least half of the payments paid off.. in my case i leased for 3 years, 3k down, and had saved up enough money to have 1.5 years paid off, and during that time pay off the rest!
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Obviously you have other expenses than what you listed or you'd have a bit more cash in the bank.
Start by calling your insurance agent and getting a quote on what this car is going to cost you. Also find out your town's mil rate and see what taxes are going to run you. Can you advance in your career without additional schooling? If you're going to need a master's degree then figure out what it's going to cost you and decide if you can you put it off while you pay on the car. Houses or condos...if you're both paying $700 a month for rent (does that include utilities or is that another expense?), in some areas that's a decent first house/condo for the same $1400/month mortgage but how will you save the downpayment and pay utilities. You also need to factor in that when you buy this car you aren't going to want to be cash strapped...you'll want to take weekend trips, or just simply take the long way home (gas costs)...be more realistic with your budget and then decide if it's worth the gamble. |
Patience
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Not sure why you have a BS in Computer Science and only make 2,400 a month. You need to start shopping jobs. In computers I would think 60k being the bottom of the barrel, slightly above retail job.
To the point. The rule of thumb has always been get a car worth a maximum of half your income and a house worth a maximum of double your income. This can still get people in to lots of trouble but it is a good starting point to work from. Personally I like the rule of getting a house that you can pay off in 5 years without struggling and a car that you can pay off in less than a year if needed. |
If I were in your situation, I personally wouldn't. I love this car, but no car is worth stretching your finances over. It's probably better to save and wait a year, then buy a used one.
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You probably COULD, but you're gonna' have to get used to staying in more often.
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you only live once
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