Can I afford a 2014 Mustang?
08-18-2015, 02:18 PM
#18
Gentleman's Relish
Join Date: Feb 2005
Location: AZ
Posts: 13,090
Something is not jiving...expected income for a 17/18 old is 180K a year in a couple months...yet you're looking at a car now instead of waiting a few months....
Just wait for a couple months. Buy a cheap beater now which you can use in the winter and buy a fully loaded GT after you get that 180K a year job....
just what exactly are you doing where you expect to make this much with just a HS diploma? Oh wait Colorado..."medicinal" pot?
Just wait for a couple months. Buy a cheap beater now which you can use in the winter and buy a fully loaded GT after you get that 180K a year job....
just what exactly are you doing where you expect to make this much with just a HS diploma? Oh wait Colorado..."medicinal" pot?
08-18-2015, 02:52 PM
#19
2nd Gear Member
Join Date: Apr 2014
Location: AR
Posts: 236
Every one of these threads go the same way.
1. Question: Can I afford this? Answer: If you have to ask then no.
2. Supporting claim: In the near future my financial situation will change. Reply: Ok then wait.
3. Alternative idea: Get a less expensive older model or beater and buy the stang later. Reason for not liking the idea: I don't want to buy twice.
4. Final Outcome: OP ignores all advice as they really just wanted a yes answer.
My Answer: Yes you can't afford it right now. I'd think the interest rate alone on your age and income level would make it a bad choice. You'd likely want to refinance it later which is nearly the same as buying a new car anyway.
Don't spend the income before you have it. Loans are fine I'm not saying that you should save until you can buy it outright, but don't take out a loan on the basis of what you think will happen to your income in the future. No way 50%+ of your income on a car makes sense.
1. Question: Can I afford this? Answer: If you have to ask then no.
2. Supporting claim: In the near future my financial situation will change. Reply: Ok then wait.
3. Alternative idea: Get a less expensive older model or beater and buy the stang later. Reason for not liking the idea: I don't want to buy twice.
4. Final Outcome: OP ignores all advice as they really just wanted a yes answer.
My Answer: Yes you can't afford it right now. I'd think the interest rate alone on your age and income level would make it a bad choice. You'd likely want to refinance it later which is nearly the same as buying a new car anyway.
Don't spend the income before you have it. Loans are fine I'm not saying that you should save until you can buy it outright, but don't take out a loan on the basis of what you think will happen to your income in the future. No way 50%+ of your income on a car makes sense.
08-18-2015, 03:19 PM
#20
Join Date: May 2015
Location: California
Posts: 48
Can I afford a 2014 Mustang?
Well its not impossible to make good money out of highschool, Derf, I'm beginning to intern with a engineering company and in about a year can/maybe/will be making around that much money, it just doesn't always happen, which is why we suggest that the OP wait a bit before making a hasty purchase that may come back to haunt him