I've been working for 2 years now on 55k salary

I've been working for 2 years now on 55k salary.

My student loan are 4k only and I have a decent amount saved in the bank.

I want to get a new car.

I'm leaning toward mustang ecoboost premium or a camaro.


What car does Veeky Forums recommend?

Which has more fun handling?

Under $45k

The camaro is a shit car. Buy the mustang you wont regret it

Personally I liked the mustang more, so I bought a 2015 GT. Try them both, Mustang has more creature comforts I find, being able to see out of the car is one lol.

Ah I see

I would get the ecoboost due to my slow commute but still want the looks and some fun.

Did you get your car new?

Type R Civic

I hate Ford.

But I hate Chevy more.

Get the Mustang GT.

Honestly I would buy that if it had an automatic

My drive home in afternoon is an hour long in stop and go traffic so no thanks manual.

>mustang ecoboost
>MUSTANG ECOBOOST

LMAO

you lost breh

Used 981 Cayman S, it's a no-brainer.

>4 cylinder mustang

Get a used 15+ Mustang gt.

Get a manual faggot. Change your commute.

How about you pay off your debt instead of going into more debt to buy a car that's 90% of your salary. You cant afford a 45k car

>he doesnt buy a $45k camaro on $20k a year
you gotta live sometimes my mang

Because my investments for two consecutive years have earned over 10% and my student loans are 3%.
And student loans are rare debt you can itemize.

Why would I pay that off?

The 2018 mustang gt blows all prior GTs out of the water.

I want a commuter car.

The ecoboost will become boring VERY fast. The camaro is shit. Buy neither of them.

But it looks like it has downs. If you want a commuter car then get a civic for 3k or keep your current car.

t.poor teenager

A car note should be 20% of your gross income or less per month. 5 year note on a $45k car is about $660/month. Which is easily affordable on a $55k/year job. He could get a slightly used one for cheap also.

Go buy an optioned up 17 gt being dumped to make way for the 18s. Ford often offers 0 percent financing as well.

>over 10%

A chimp could have earned that in this market. Stop roleplaying as some savvy wolf of wall street type with your $500 index fund "investments" you delusional twat.

I'm not saying I'm an investment type.
I'm simply stating that my student loans are 3% while investments are 11%


My question is why would I pay it off?

You're the delusional twat who can't answer a simple question and reads too much into a statement.

I'm not even that poster. I just like to laugh at people larping. Anyway, you'd pay it off to free up more capital to invest if you weren't a simpleton who understood the time value of money.

I don't give a shit though. Enjoy your modern plastic shitheap.

im not OP im just here to tell you you have autism.

Bruh, if he has $5000 earning $500 a year, why would he sell it to pay off $5000 incurring $150 a year??

I am the OP and I'm here to suck your cock

I love my 2017 v6 mustang. I test drove the ecoboost and the v6 manuals. AMA

Because compound interest works both ways. I know most of this board is teens but fuck you guys are bad with money.

You can't afford the car, you should get a 15k-20k car. But fuck it live your life I guess and have a good time, just don't spend money anywhere else

>capital

If I pay off debt I am free of a LIABILITY.

My working capital is money, it goes away if I pay off debt.

What the actual fuck dude?

t. Financially illiterate trollop

Close but wrong - the general rule is you should spend no more than 20% of your gross annual income as the total purchase price.

20% of 55k = $11,000. With that income you can afford an $11,000 car, reasonably.

Some say if you REALLY want the nicest car you can afford you can do 50% - or $22,500 for OP.

OP - you can't afford a $40k car. You should be in the 100k plus range annually before considering it.

Also - the way new cars depreciate in value and even cars in general are not investments.

Horrible decision - but go with the Mustang definitely.

And if he reinvests dividends, he still comes out ahead. Or if his stocks increase at a fixed rate of 10% a year, like the past two years as he said. $5000 into $5500 into $6050.

But I'm just a certified accountant, I don't know much.

>ec/o/nomics

>have $6k in savings
>makes about $600/year
>re-invest it and pay off debt in 4 years and still have $6k
>spend the $6k on paying off a debt with low interest
>Now I have $600 to invest
>I make $60 a year
>takes 30 years to get back to the $6k
>but at least I paid off that debt

Cayman

>I have a decent amount saved in the bank.
how much?
45k is crazy high for a 55k salary, and you already have unpaid student debt. Why isn't that paid off if you have money in the bank?

I keep 1 year worth of emergency funds.
I budget my expenses (including entertainment) and extra money invested yelds over 10% and my interested charges 3%.

This. I waited until I was making $90k before I bought a $35k car. Saved up until then and paid off the car in 6 months.

You're gonna be dedicate more than half your salary (before taxes) to a car. Bad move, breh.

Camaro 1le V6, best bang for your buck 'sports' car

I'm not paying the whole car off in one year and I plan to use it 5-6 years.
I get what you mean though.

Not those posters, but I think it is a bit risky.

Also personally I would wait and drive a beater for a while longer. The new 2018 GT will depress all previous Mustang prices greatly, so you can score them for a bit cheaper.

You could get an Ecoboost premium for less than $25k especially with the 2018s coming in. Add in the Ford tune for $700 and you have 335 hp/390 tq. Lots of fun and still affordable. You could probably squeeze some more power out of it with bolt ons, and down the line, swap in a big turbo kit for some serious power gains.

I've always had a positive attitude that I will make more money the next year than the current year but I guess it's not the safest strategy.

I rationalize the purchase by amortizing it over 5-6 years while income climbs

>ecoboost

if you get either car get the V8 or find a different car

Used zl1 1le manual would be my pick

Hurry up and make a rhd version gm u stupid cunts

:Hmm:

MOTORCYCLE

I rather not refuel 2-3 times a week.

I dread once a week enough, thanks.
i'm surrounded by big rigs constantly, no thanks. I rarely see bikes because it's shitty with all this traffic, big rigs, and idiot drivers.

>A car note should be 20% of your gross income or less per month.

Says who?

The rule of thumb that I've always heard is the 20/4/10 rule

>with 20% down
>and a 4 year (48 month) term
>if the payment is more than 10% of your gross monthly income, you can't afford it

So on a $45k car he'd have to put $9k down.

Let's say he can get a 1.9% APR loan (prime-ish on a new car with dealer financing). He'd be financing $36k over 48 months.

That would give him a monthly payment $779 (lmfao). His monthly gross income is $2292. This means that his car payment would be almost 34% of his monthly gross income. OP should be shooting for a vehicle with a $229 monthly payment, which would be a vehicle worth just over $13k assuming 20% down and same APR.

Or, you can just go by the ole Jay-Z rule of thumb

>if you can't afford to buy it twice, you can't afford it

OP, don't be a fucking retard. You CANNOT afford a $45k car on a $55k salary. You've been warned.

Ah I'm tired. Divided everything by pay period (24) and not months (12).

So this nigga can afford a $26k car. A payment on a $36k loan for a $45k car would be 17% of his gross monthly income. Still too high.

MSRP top of the line ecoboost $38k MSRP.
Discount is about 13%.

0% financing on those cars.

$33,000+ 9% tax

$36k

$7.2k down

28800 / 60 (0% financing 5 years on mustang ecoboosts) = $480 monthly

jesus christ this is why defaults on subprime auto loans are growing

>can buy the car I want 3 times over with this logic
>still want to take out a long-ass loan for muh credit
Tell me, user. What's a good balance on financing if my goal is just to build credit?

Of course if you stretch the loan out longer it will be a lower % of your monthly income. The point of capping the loan at 48 month is so that you don't get overextended for your income level.

5 years is a short investment horizon as well. The 0% APR is nice, but there are countless 5 year windows where the market yields negative or neutral return.

Meanwhile, your credit is shot to shit during this time period. Your utilization percentage will be through the roof with $28800 debt. If you have any unexpected expense that requires financing over the next 5 years, you will get burned on APR. You can also forget about getting a decent mortgage rate (if you're in the market or will be) until your utilization % goes back under 30% of your total combined credit line.

a $28800 loan w/ a 48 month 0% APR term gives a $600/mo payment. 13% of your gross monthly income. Still a little high my nigga. Get it down to 10%.

Where the fuck is a Ecoboost Mustang more then $45K?

Also your on Veeky Forums so you gotta get the ecoboost

>I rather not refuel 2-3 times a week.
then buy a civic
don't buy the neutered version of a muscle/pony car

>ecoboost mustang or camaro
>turd with good gas mileage or even more expensive turd with worse gas mileage
Buy a charger, faggot. You can fit all your friends in it and it has some power.

a pony car by definition is a neutered affordable sporty LOOKING car.

wtf

also any german car has to refuel once a week such as bmw 330i, audi a4, c300.

doesn't have to be a civic.

>my goal is just to build credit?
Then why would anyone go 35K into debt, pay sales tax, spend a few thousand a year on insurance and dealer maintenance, while taking a huge car value hit the minute you drive it off the lot, then have it depreciate?

>What's a good balance on financing if my goal is just to build credit?

Forget the car. Just get a starter credit card and pay it off in full before the closing date every month. Do that for 12 months. Congrats, you have a 720+ FICO.

What a moron fuel is the cheapest fluid your car takes apart from water.

Cuck

You're the moron considering you don't know how to read.

OP complained about visiting the gas station 2-3 times a week. He did not mention money. He only mentioned going there.

It means he doesn't like wasting time refiling it RETARD.

You sound like a pussy.
>can't watch road because too much traffic.
Nigga if I'm legally blind and have to wear glasses and can stop quick or evade dumb drivers then so can you.

why not this? mustangs and camaros aren't the only american muscle cars

is it just me or is anyone else scust at sport sedans?

inb4 subaro owners

lmao
fuck a "sport" sedan

>autotragic
>fca

M3 upwards or amgs also use 13+ l/km
Mustang can do lower on highway

>also any german car has to refuel once a week such as bmw 330i, audi a4, c300.
It could fill once a month or twice a day. Who knows how much mileage he's doing?

hey Veeky Forums where can i learn more about money is Veeky Forums good?

Honda Accord

bump

if you're not getting the manual there's no point in getting a sports car.

you'd have a better time in a tahoe or equally sized SUV

How about get rid of the loan completely first you nigger

Veeky Forums is shit

t. Veeky Forums

Stop being a pussy about manuals and get a Focus RS.
All the fun of these 2 with way more practicality.

I've always been a big GM fan but I've driven 4 newer Camaros (2011,v6) (2011,V8) (2014,V8) (2016,V8) and honestly they were pretty fucking dull and had no personality and felt overly heavy while driving them, where as the Ecoboost mustang I drove was very fun and had a nice ride,got decent fuel economy too.l,I've never enjoyed a Ford that much so I'd go with the mustang.

Too small car for little boys.

Only an idiot would pay a tax deductible 3% student loan.
Op said he wanted a sporty sedan not
Sport sedan.


One letter does make a difference mong.
Mong.

Get a used GT low miles. Don't get an eco meme.
Retard.

GT isn't designed for an hour long bumper to bumper daily

Retard

At least suggest a car that makes sense for his needs.

only thing worse than a 4 cylinder mustang is a v6 camaro. get the mustang.

>spending 80% of your annual salary on a car

God damn people are stupid. Why don't you invest that money instead of blowing it on a rapidly depreciating plastic shitheap? If your investments really do earn 10% you should be able to pay cash for a car that fits your salary in no time instead of giving away interest to a jew.

>wanting a crippled muscle car
>just want to look """"cool""""
>not wanting to refuel
>auto tranny

Go ride the bus, faggot. You don't belong in this board

>Assuming past results dictate future returns

I'd rather eat worms than drive a Chevy

OP clearly wants a PONY car or muscle car.

Reading must be challenging since your thoughts constantly revolve around "muh V8"

Get a used 15-17 GTPP for low $20ks

The 18+ is far too expensive new might as well get the 350 for that money
Have you driven a Camaro? It's abysmal inside and for that 1LE money get a 350