Buying a nice car when company is doing poorly..

[SpatiallyAware]

I'm curious of the overall thoughts on this..

Here's the scenario - I work for a small business that has had to take fairly serious paycuts and gone through some layoffs. Things are overall looking better, but no huge jobs yet so paycuts are still active. However, we haven't had a layoff since October.

I am IT, (i.e. not a 'production' employee and thus fairly shielded from the poor market the rest of the company is involved in)


I'm in need of a car, and can afford (and want) something nice. However, I feel like it looks crappy to other employees and the owners who have had to sell their nice cars and property early/middle last year. Note that I've kept myself out of crazy debt and all that, and have no kids, wife, etc.



Thoughts?


I'm looking at these, which are around $28k.

http://i22.tinypic.com/156d24o.jpg

 

[amdhunter]

Just do it. You only live once.

 

[Platypus]

If you got laid off tomorrow could you still live comfortably with the car? If so, then yes go for it. If not, it would give me pause... you never know what life is going to hit you with and if your current car still works fine it's more of a luxury than a necessity.

 

[SpatiallyAware]

Also I feel like it's relevant to point out that I currently drive a total POS... So it's not like I'm moving from a nice 03 maxima to this or something..

 

[darkxshade]

Why should you care about the opinions of others on such matters? If you need a car, buy a car.

 

[Aharami]

damn that's a nice M coupe. I'd say get it, but it will cause resentment towards you from your co-workers

edit: I voted do it. That's a really nice //M

 

[boomhower]

If you have taken care of your finances and can comfortably afford it and can weather a layoff with the new car note, go for it.

 

[Fizzorin]

If, given various contingency scenarios, you can afford it, do it!

Why should your neighbors' or coworkers' poor money management skills force you to not live how you want to?

 

[sunzt]

Very important consideration:

- Do you have a private Garage?

 

[Suspicious-Teach8788]

what is nice? should probably describe. if nice is bugatti veyron, then no. if nice means bmw 3 series... sure maybe.

 

[surfsatwerk]

I'd suggest something with four wheel drive in case of zombie apocalypse or striking peons.

 

[SpatiallyAware]

what is nice? should probably describe. if nice is bugatti veyron, then no. if nice means bmw 3 series... sure maybe.

Um I posted a pic of what I'm buying, not sure what else you need.

 

[JulesMaximus]

If you need a car you need a car. Who are they to question your needs?

Get what you want...it's not as though you're buying a Ferrari.

 

[soccerballtux]

I definitely would not buy that. Will be bad for company morale. They will talk about you, you can be sure of that.

 

[spidey07]

I definitely would not buy that. Will be bad for company morale. They will talk about you, you can be sure of that.

Agreed. OP will get a talking to.

Not fibbing, an exec at a previous employer got fired for showing up in a brand new 911 turbo. It sent a bad message.

 

[JulesMaximus]

Also I feel like it's relevant to point out that I currently drive a total POS... So it's not like I'm moving from a nice 03 maxima to this or something..

That's what I drive...and I'm ready to move on quite frankly.

 

[PieIsAwesome]

Go ahead, others should mind their own business and not worry about what you do with your money.

 

[JulesMaximus]

I definitely would not buy that. Will be bad for company morale. They will talk about you, you can be sure of that.

$28k? That's hardly an expensive car...

 

[GlacierFreeze]

Agreed. OP will get a talking to.

Not fibbing, an exec at a previous employer got fired for showing up in a brand new 911 turbo. It sent a bad message.

Wow, I'd hate to work for that company. It'd suck to work for someone that dictates how you spend your money.

Voted no. But if you must get one, I'd recommend a monthly note of 25% or less (preferably less) of your monthly income.

 

[TwiceOver]

Define complete POS. I don't think any job in this market is completely shielded.

Do what you will, but that's an aweful lot of car payment I imagine.

 

[lxskllr]

I'd drive your current car awhile longer to make sure your future's secure. Actually, *I'D* drive my current car into the ground, but not everyone's like that. I'm a cars last stop before the junk yard. They aren't worth anything when I'm finished with them.

 

[Aharami]

$28k? That's hardly an expensive car...

doesnt matter if it is expensive. it looks expensive. His coworkers wont care that he's driven a POS all these years and have been frugal and saved up money. All they will see is OP driving a nice car when they are having to make all these cuts and will cause instant resentment. They will assume OP is getting paid a lot more than them. Jealousy is a bitch like that

 

[spidey07]

Wow, I'd hate to work for that company. It'd suck to work for someone that dictates how you spend your money.

The company was Papa John's International- their headquarters. Rumor was Papa John didn't like somebody lower than him driving a nicer car, Papa likes his automobiles.

 

[JulesMaximus]

Agreed. OP will get a talking to.

Not fibbing, an exec at a previous employer got fired for showing up in a brand new 911 turbo. It sent a bad message.

This is a used BMW that costs around $28k...not a $120,000 exotic.

 

[JulesMaximus]

The company was Papa John's International- their headquarters. Rumor was Papa John didn't like somebody lower than him driving a nicer car, Papa likes his automobiles.

What a douchebag and yet another reason I won't eat their crappy pizza. I'd sue his ass for wrongful termination.