Financial question: Brand new 2004 WRX STi

[Nocturnal]

Ok, so I don't have the funds for it, nor do I want to take out a loan for it but, what kind of money would I need to be making in order for me to be able to pay off about a $300-400 monthly car loan, $300.00 insurance premium for four months, and having money left over for rent, groceries and the like?

Do I need to be making at least $20.00 an hour in order for me to acheive this goal?

 

[Nocturnal]

On another note what kind of job would I need to have to obtain $20.00 an hour?

 

[zer0burn]

usually on some car sites they have calculators explaining all this go look.

 

[Angrymarshmello]

How hard is it for you to take out a calculator and do it yourself?

 

[iamwiz82]

how do you plan on getting it down to $300-$400 per month? How much are you going to put down/trade in? Since a $30000 car(ignoring all options/dealer markup) at 4.9%(unlikely in 2004), for 6 years with $5000 down is $505 a month

 

[RossMAN]

Originally posted by: Angrymarshmello
How hard is it for you to take out a calculator and do it yourself?

Let's not even go there, I could type paragraphs.

$20/hr x 40 hrs x 52 weeks = $41,600

I'm assuming you have very little or no cc debt, so yes if you had a FULL TIME $20/hr job for at least 1-2 years you could prob afford this car.

Keep day dreaming.

 

[Storm]

I hope you make at least 40k and live at home if you really want this car in two years.

 

[JeffreyLebowski]

Originally posted by: RossMAN

Originally posted by: Angrymarshmello
How hard is it for you to take out a calculator and do it yourself?

Let's not even go there, I could type paragraphs.

$20/hr x 40 hrs x 52 weeks = $41,600

I'm assuming you have very little or no cc debt, so yes if you had a FULL TIME $20/hr job for at least 1-2 years you could prob afford this car.

Keep day dreaming.

He could afford it but not to put gas in it or food in his stomach.
I make $17/hr and am barely making ends meet with $700rent/electric, $450 car payment, $90 a month in insurance, and food and gas, and occasionally going out on the town.

 

[iamwiz82]

Originally posted by: JeffreyLebowski

Originally posted by: RossMAN

Originally posted by: Angrymarshmello
How hard is it for you to take out a calculator and do it yourself?

Let's not even go there, I could type paragraphs.

$20/hr x 40 hrs x 52 weeks = $41,600

I'm assuming you have very little or no cc debt, so yes if you had a FULL TIME $20/hr job for at least 1-2 years you could prob afford this car.

Keep day dreaming.

He could afford it but not to put gas in it or food in his stomach.
I make $17/hr and am barely making ends meet with $700rent/electric, $450 car payment, $90 a month in insurance, and food and gas, and occasionally going out on the town.

yo upay $450 a month for a sentra? That is absolutely insane. I dont like paying my $125 payment.

 

[JeffreyLebowski]

i put nothing down and i don't have to pay $450 i'm just paying it off quick.

 

[Nocturnal]

Originally posted by: RossMAN

Originally posted by: Angrymarshmello
How hard is it for you to take out a calculator and do it yourself?

Let's not even go there, I could type paragraphs.

$20/hr x 40 hrs x 52 weeks = $41,600

I'm assuming you have very little or no cc debt, so yes if you had a FULL TIME $20/hr job for at least 1-2 years you could prob afford this car.

Keep day dreaming.

LOL@Keep day dreaming. I would love to fight you in a mixed martial arts match one day. That would so rock my world. Every thought about figthing MMA?

 

[ultimatebob]

Honestly, I don't think that the car is worth it. I saw one at the NY auto show, and it just looks like a regular WRX with fancy sport seats and a big supercharger.

You could save a few grand by getting a Mitsubishi Lancer Evolution, and you wouldn't lose much in the deal.

 

[OS]

Originally posted by: Nocturnal
Ok, so I don't have the funds for it, nor do I want to take out a loan for it but, what kind of money would I need to be making in order for me to be able to pay off about a $300-400 monthly car loan, $300.00 insurance premium for four months, and having money left over for rent, groceries and the like?

Do I need to be making at least $20.00 an hour in order for me to acheive this goal?

I want to know what tax free world you live in.

Why not a standard wrx? You can get them for invoice and you'll save almost ten thousand.

 

[beer]

What's funny is you'll spend two years of your life working for it, and in five years, it'll be worth nothing, and you'll be pissed.

Live within your means.

 

[Don Vito Corleone]

What I want to know is, how are you going to achieve paying only $900 per year to insure such a high performance car? I have to think it would run much higher.

 

[amnesiac]

Originally posted by: Don_Vito
What I want to know is, how are you going to achieve paying only $900 per year to insure such a high performance car? I have to think it would run much higher.

$300 x 4 months = $1200 / year

 

[Don Vito Corleone]

Originally posted by: amnesiac

Originally posted by: Don_Vito
What I want to know is, how are you going to achieve paying only $900 per year to insure such a high performance car? I have to think it would run much higher.

$300 x 4 months = $1200 / year

Ahem - last I checked, there were 3 4-month segments in a year. $300 x 3 = $900

So there!

 

[SuperTool]

how about keeping a second beater car for the winter. You only insure the STi for 3 summer months, then garage it, and insure some corolla or something for the remaining 9 months.

 

[adlep]

Honestly, I don't think that the car is worth it. I saw one at the NY auto show, and it just looks like a regular WRX with fancy sport seats and a big supercharger.

Ignorant....


In my dreams I am getting a 2004 WRX Wagon....

 

[RichieZ]

Hahahah 1200/yr for coverage on an STi, what are you smoking?

 

[Koing]

Originally posted by: Nocturnal
On another note what kind of job would I need to have to obtain $20.00 an hour?

Be a very busy male gigolo...........[if you manage to achieve this for more then 10hrs HATS OFF TO YOU!]

I'd take you on in a mma fight

(big ufc, pride and mma fan! also spars and trains in it)

 

[Cyberian]

Originally posted by: Nocturnal

Originally posted by: RossMAN

Originally posted by: Angrymarshmello
How hard is it for you to take out a calculator and do it yourself?

Let's not even go there, I could type paragraphs.

$20/hr x 40 hrs x 52 weeks = $41,600

I'm assuming you have very little or no cc debt, so yes if you had a FULL TIME $20/hr job for at least 1-2 years you could prob afford this car.

Keep day dreaming.

LOL@Keep day dreaming. I would love to fight you in a mixed martial arts match one day. That would so rock my world. Every thought about figthing MMA?

LOL indeed! - If you were actually able to somehow kick RossMAN's ass, would that lower your car or insurance payments?

 

[RossMAN]

Edit: I would like to clarify that this was a wink not an eye roll, thank you.

 

[SyahM]

Originally posted by: SuperTool
how about keeping a second beater car for the winter. You only insure the STi for 3 summer months, then garage it, and insure some corolla or something for the remaining 9 months.

No No NO, that is so wrong. You MUST use STi during the winter months cuz it's more fun and practical in the snow that using a beater like corolla. Remember, STi is AWD dude ...

 

[iamwiz82]

Originally posted by: SyahM

Originally posted by: SuperTool
how about keeping a second beater car for the winter. You only insure the STi for 3 summer months, then garage it, and insure some corolla or something for the remaining 9 months.

No No NO, that is so wrong. You MUST use STi during the winter months cuz it's more fun and practical in the snow that using a beater like corolla. Remember, STi is AWD dude ...

its not like AWD is the end-all-be-all of winter driving. If you were looking for that you would get a tracked vehicle. AWD and 4WD will just make you over confident and put you in a ditch when you least expect it.