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Say you got your first real job making some real money..

J

jinduy

Diamond Member
let's assume you drive a 96 accord that's running in good condition and you live in an apartment.

i'd invest in a house... i'm not too into flashy or luxurious cars. as long as it runs fine and won't crap out on me on a trip to vegas, then it's all good 🙂.
 
Home. I had a 96 Accord, I'd still be driving it if stupid sister didn't blow out the transmission in her van, forcing me to buy a new car.
 
If I had a '96 Accord, I'd invest in a house before a new car. I don't (I have an '89 Cavalier) so when I get a job, a car will be my first major purchase.
 
You can sell a home for the same amount you bought it for. Your car is relatively new, it works, and the only reason you want a new one is to feel like a badass driving a 2004 Nissan 300ZX.

Of course I'm assuming things... but if I'm correct don't be a dumbass and get yourself a house.
 
is a car considered an investment? I think it's more like, would you buy a new car or would you start saving towards a house?

If my wife was making money, i'd buy a car. If she wasn't, I'd see what was more important to her, then go buy a car 😀
 
A car is not an investment, heh. It goes down in value the moment you drive it off the lot.
 
The thing with the house is that you can start saving money for it, but you would be still a couple of years off in actually buying one. With a car you can get instant gratification. I would probably get a car. Not a too expensive one of course.
 
You didn't put your living situation in there. Do you already have a 1996 2 bedroom japanese house?
 
Originally posted by: chrisms
You can sell a home for the same amount you bought it for. Your car is relatively new, it works, and the only reason you want a new one is to feel like a badass driving a 2004 Nissan 300ZX.

Of course I'm assuming things... but if I'm correct don't be a dumbass and get yourself a house.
Click to expand...

you mean a 2004 350Z?
 
well I got a car.. truck actually.. not new but relatively. '00 SVT Lightning.. But I do not see myself buying a house for years to come.. guess I get that from my dad, who is 42 and has never owned a house. Guess here in my 20's I always want that option to pick up and disappear to the other side of the world at a moments notice
 
Originally posted by: Nebor
You didn't put your living situation in there. Do you already have a 1996 2 bedroom japanese house?
Click to expand...

okay and you're currently living in an apartment. i'll edit original post.
 
Saving for a house is a good thing to do, but you also need to consider that your vehicle won't last forever. You may have to start sinking a lot of cash into your car. It is 2004 afterall. In two years, that accord will be 10 years old.

Personally, I'd start saving for BOTH. Put your money away, and when you think that you need a new car, buy one.

R
 
Originally posted by: Eli
A car is not an investment, heh. It goes down in value the moment you drive it off the lot.
Click to expand...
Eli is correct.

Check this out... We are trying to sell our house now. We've lived in it for about five years, we'll be able to sell it for enough (above our original cost) to just about make up for all of our mortgage payments, including property taxes.

Basically, we've been living here for free, for five years.

What's that car going to be worth, compared to how much you've paid for it, after you finish paying off the loan in five years? On a $20,000 car, you'll probably lose more than that.

At today's low rates, (imho) you are freakin' stupid for not at least looking into buying a house now.
 
Originally posted by: rgwalt
Saving for a house is a good thing to do, but you also need to consider that your vehicle won't last forever. You may have to start sinking a lot of cash into your car. It is 2004 afterall. In two years, that accord will be 10 years old.

Personally, I'd start saving for BOTH. Put your money away, and when you think that you need a new car, buy one.

R
Click to expand...

that's what i would do. if you have to get a car down the road, you have the money. otherwise, it can go toward a house.
 
neither...I would start putting money into an IRA so that I can save for retirement, plus save a grand in taxes every year...after that I would save for a house, because I don't need an expensive car.
 
Oh give me a freakin break.
Of course the logical thing would be to invest in a house but none of you would do it.

The question is "your first real job making money"
I don't know of anyone who after getting a real job started thinking about saving money for a house.

Lets ponder this question for a second.
"Its your first real job making some real money"
If this was the case , it means you're not driving that great of a car.
Hell, who here can afford a nice car working at a menial job ???
So if this was the case, most if not all people would buy a "nice" car before even thinking about saving for a house.

When I finally got a job making $30K++ , I bought myself a nice car.
Even though I had a decent looking Accord that would have lasted me another 3 yrs.
My frugal sister whos making $100K++ a year, she even broke down and bought a brand new car for $26K CASH. You don't think she could have used all that CASH to buy a house instead of wasting it on a new car.

Through 32 yrs, I seriously do not know of anyone who after landing a good job, still drive a beater and saved up their money for a house instead..

Let me add another point....most people landing their first real job I'm assuming is <25yrs old.
Do you really think someone in their early 20's would save their money to get a house instead of a car ??
Hell NO....I call this voting BS.
 
Why the hell do you need a new car? When I graduated about a year ago I had a car that was in very good shape...a 98 with about 48k miles on it. I was glad I had a pretty new car cuase most people's first purchase is a car and I wouldn't have to waste money doing that.

The first thing I thought was house(my dad had grown my roth IRA from 2k to over 15k for me so I had a down payment)...it's gone up about 30k from what I bought it at. I also bought a new house and got it built so I had 6 monthes to save up my whole salary by living at home. Good luck though...no one takes you seriously when you buy a house at 21. In my case my parents came with me everywhere and people talked to them and completely ignored me.
 
Originally posted by: CTrain
Oh give me a freakin break.
Of course the logical thing would be to invest in a house but none of you would do it.

The question is "your first real job making money"
I don't know of anyone who after getting a real job started thinking about saving money for a house.

Lets ponder this question for a second.
"Its your first real job making some real money"
If this was the case , it means you're not driving that great of a car.
Hell, who here can afford a nice car working at a menial job ???
So if this was the case, most if not all people would buy a "nice" car before even thinking about saving for a house.

When I finally got a job making $30K++ , I bought myself a nice car.
Even though I had a decent looking Accord that would have lasted me another 3 yrs.
My frugal sister whos making $100K++ a year, she even broke down and bought a brand new car for $26K CASH. You don't think she could have used all that CASH to buy a house instead of wasting it on a new car.

Through 32 yrs, I seriously do not know of anyone who after landing a good job, still drive a beater and saved up their money for a house instead..

Let me add another point....most people landing their first real job I'm assuming is <25yrs old.
Do you really think someone in their early 20's would save their money to get a house instead of a car ??
Hell NO....I call this voting BS.
Click to expand...
I don't have a real job, but I've been making real money for about a year -- and I'm still driving my 1994 Saturn SW2. I will drive it till it breaks down, and then I won't buy a car because I'll be travelling all over the world, or having too much sex at home, with a girlfriend(who would have a car 😛)

Right now, most of my money goes into savings, until I graduate upon which time I will use some of it to travel, the rest will stay saved and by then I will also have enough time to figure out good ways to invest all the money I've saved up and all the money I will continue to earn.
 
car.

who wants to own a house? nothing like paying +$300K for something that's only going to eat more money and make you spend the rest of your days doing upkeep on it.
 
Originally posted by: loki8481
car.

who wants to own a house? nothing like paying +$300K for something that's only going to eat more money and make you spend the rest of your days doing upkeep on it.
Click to expand...
WTF?

You're not the sharpest kife in the drawer, are you? 😛
 
I'd probably buy a $15-$20K car assuming a $50K salary.

I'd probably save up for a nice condo, but probably not a house. I could own the property and still keep a high-density urban lifestyle.
 
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