okay, so here is the scenario:
i'll be earning $45,000 for the next year. i'm actually going to try to go to grad school so i'll have to stop working when sept 2003 comes around. so techincally, i'll only have 12 months of pay to use in order to pay off the car before grad school. also, i have about $8k in debt b/c of my undergraduate loans.
so figuring out that out of $45k, i'll be actually getting about $31,500 after taxes, what do you think is the wisest decision to make in order to get the best car as well as being safe considering that i have $8k in loans to payback... my choices consist of:
acura rsx type s ($22k)
nissan altima 3.5se ($25k)
toyota celica gts ($21k)
2002 honda accord coupe v6 ($21k)
(all prices are before tax)
edit...
well it seems as if people are worried that i have expenses to think of. well i'm actually living with my parents during the year that i'll be working, so i honestly don't have any expenses. i have to pay for my cell phone/cable modem and that's it. those two comes out to be $100/month, so it's not that much. so basically, i'll have $31,500/12 - $100 = $2,525 to spend every month. on top of that, if i want to go out and stuff, i'll prolly need about an additional $200/month. and for those worried about insurance, it'll cost me about $2,000/year (or $166,67/month) for any of the cars listed above (it'll actually be less, but i'm using the g35 coupe as the base for the insurance).
so basically, i'll have
$31,500/12 = $2,625
$2,625 - $100 = $2,525 (after bills)
$2,525 - $200 = $2,325 (after money to spend monthly)
$2,325 - $170 = $2,155 (after insurance)
$2,155 - $670 = $1,485 (minus paying back $8k loan)
so i'll have $1,485 left to spend on the car per month. also, i have $8k already saved up for the down payment... so keeping that in mind... what should i get???
acura rsx type s ($22k - $8k = $14k/12 = $1,170)
nissan altima 3.5se ($25k - -$8k = $17/12 = $1,420)
toyota celica gts ($21k - $8k = $13k/12 = $1,090)
2002 honda accord coupe v6 ($21k - $8k = $13k/12 = $1,090)
i'll be earning $45,000 for the next year. i'm actually going to try to go to grad school so i'll have to stop working when sept 2003 comes around. so techincally, i'll only have 12 months of pay to use in order to pay off the car before grad school. also, i have about $8k in debt b/c of my undergraduate loans.
so figuring out that out of $45k, i'll be actually getting about $31,500 after taxes, what do you think is the wisest decision to make in order to get the best car as well as being safe considering that i have $8k in loans to payback... my choices consist of:
acura rsx type s ($22k)
nissan altima 3.5se ($25k)
toyota celica gts ($21k)
2002 honda accord coupe v6 ($21k)
(all prices are before tax)
edit...
well it seems as if people are worried that i have expenses to think of. well i'm actually living with my parents during the year that i'll be working, so i honestly don't have any expenses. i have to pay for my cell phone/cable modem and that's it. those two comes out to be $100/month, so it's not that much. so basically, i'll have $31,500/12 - $100 = $2,525 to spend every month. on top of that, if i want to go out and stuff, i'll prolly need about an additional $200/month. and for those worried about insurance, it'll cost me about $2,000/year (or $166,67/month) for any of the cars listed above (it'll actually be less, but i'm using the g35 coupe as the base for the insurance).
so basically, i'll have
$31,500/12 = $2,625
$2,625 - $100 = $2,525 (after bills)
$2,525 - $200 = $2,325 (after money to spend monthly)
$2,325 - $170 = $2,155 (after insurance)
$2,155 - $670 = $1,485 (minus paying back $8k loan)
so i'll have $1,485 left to spend on the car per month. also, i have $8k already saved up for the down payment... so keeping that in mind... what should i get???
acura rsx type s ($22k - $8k = $14k/12 = $1,170)
nissan altima 3.5se ($25k - -$8k = $17/12 = $1,420)
toyota celica gts ($21k - $8k = $13k/12 = $1,090)
2002 honda accord coupe v6 ($21k - $8k = $13k/12 = $1,090)
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