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
Justin Torres
The camaro is a shit car. Buy the mustang you wont regret it
Cameron Allen
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.
Lincoln Mitchell
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?
Liam Perez
Type R Civic
Jaxon Foster
I hate Ford.
But I hate Chevy more.
Get the Mustang GT.
Michael Rogers
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.
Christopher Ward
>mustang ecoboost >MUSTANG ECOBOOST
LMAO
you lost breh
Liam Powell
Used 981 Cayman S, it's a no-brainer.
Wyatt Cruz
>4 cylinder mustang
Grayson Hughes
Get a used 15+ Mustang gt.
Gabriel Hughes
Get a manual faggot. Change your commute.
Jack Parker
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
Gabriel Young
>he doesnt buy a $45k camaro on $20k a year you gotta live sometimes my mang
Ryder Cruz
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?
Landon Hughes
The 2018 mustang gt blows all prior GTs out of the water.
I want a commuter car.
Joshua Price
The ecoboost will become boring VERY fast. The camaro is shit. Buy neither of them.
Isaiah Allen
But it looks like it has downs. If you want a commuter car then get a civic for 3k or keep your current car.
Robert Adams
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.
Aiden Smith
Go buy an optioned up 17 gt being dumped to make way for the 18s. Ford often offers 0 percent financing as well.
Owen Thompson
>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.
Gabriel Smith
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.
Ethan Stewart
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.
Austin Parker
im not OP im just here to tell you you have autism.
Carson Davis
Bruh, if he has $5000 earning $500 a year, why would he sell it to pay off $5000 incurring $150 a year??
Anthony Reyes
I am the OP and I'm here to suck your cock
Owen Long
I love my 2017 v6 mustang. I test drove the ecoboost and the v6 manuals. AMA
Ethan Jones
Because compound interest works both ways. I know most of this board is teens but fuck you guys are bad with money.
Adrian Perez
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
Gabriel Long
>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?
Daniel Ross
t. Financially illiterate trollop
Connor Watson
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.
Jason Morgan
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.
Jace Morris
>ec/o/nomics
Ethan Fisher
>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
Bentley Sanchez
Cayman
Alexander Thomas
>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?
Gabriel Turner
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%.
Brody Baker
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.
Owen Martinez
Camaro 1le V6, best bang for your buck 'sports' car
Gabriel Lee
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.
Brody Carter
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.
Dominic Hernandez
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.
Blake Flores
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
Jason Peterson
>ecoboost
if you get either car get the V8 or find a different car
Connor Gray
Used zl1 1le manual would be my pick
Hurry up and make a rhd version gm u stupid cunts
Matthew Morgan
:Hmm:
Colton Cooper
MOTORCYCLE
Colton Peterson
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.
Jeremiah Cox
>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.
Levi Powell
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.
Nathan Johnson
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
Aaron Sullivan
jesus christ this is why defaults on subprime auto loans are growing
Adrian Clark
>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?
Parker Morgan
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%.
Juan Davis
Where the fuck is a Ecoboost Mustang more then $45K?
Also your on Veeky Forums so you gotta get the ecoboost
Caleb Sullivan
>I rather not refuel 2-3 times a week. then buy a civic don't buy the neutered version of a muscle/pony car
Luis Evans
>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.
Hunter Martin
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.
Christopher Martin
>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?
Matthew King
>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.
Daniel Price
What a moron fuel is the cheapest fluid your car takes apart from water.
Cuck
Daniel Long
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.
Owen Collins
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.
Jackson Anderson
why not this? mustangs and camaros aren't the only american muscle cars
Nolan Gutierrez
is it just me or is anyone else scust at sport sedans?
inb4 subaro owners
lmao fuck a "sport" sedan
Kayden Fisher
>autotragic >fca
Luis Mitchell
M3 upwards or amgs also use 13+ l/km Mustang can do lower on highway
Ryder Sullivan
>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?
Ryder Cooper
hey Veeky Forums where can i learn more about money is Veeky Forums good?
Nathan Russell
Honda Accord
Luis Gutierrez
bump
Nicholas Cooper
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
Nathan James
How about get rid of the loan completely first you nigger
Anthony Lopez
Veeky Forums is shit
t. Veeky Forums
Juan Taylor
Stop being a pussy about manuals and get a Focus RS. All the fun of these 2 with way more practicality.
Colton Young
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.
Jaxson Allen
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.
Bentley Bailey
Get a used GT low miles. Don't get an eco meme. Retard.
Anthony Peterson
GT isn't designed for an hour long bumper to bumper daily
Retard
At least suggest a car that makes sense for his needs.
Luis Richardson
only thing worse than a 4 cylinder mustang is a v6 camaro. get the mustang.
Camden Bennett
>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.
Jackson Harris
>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
Dylan Lewis
>Assuming past results dictate future returns
Aiden Campbell
I'd rather eat worms than drive a Chevy
Hunter Wood
OP clearly wants a PONY car or muscle car.
Reading must be challenging since your thoughts constantly revolve around "muh V8"
Jayden Lee
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