He can't pay it off in 3 months because he doesn't net anywhere near $17k/month. And he has other large debts as well as needs money to live off of in the mean time. However, with his income if he was patient he could clear all of his debts and build a strong financial foundation very fast, and then can be in the market for a much nicer car all the while never having to enslave himself to a creditor again. But hey, patience is a virtue possessed by few.Real simple buy the 2020 if you find you can’t swing the payments sell it (btw at $17K a month you can pay it off in 3 months)
Congrats on the schooling, training and family.I just need to hear opinions/voices of reason in my dilemma. I understand the bias of posting in a CTR forum, but maybe I'm just looking to hear what I want to hear. But I welcome all opinions
Just to get a full picture, just a little background
In early 30s, married, no kids (but planning for near future), sole breadwinner for the house. Monthly income of about 17k/month but only started the job 4 months ago after years of schooling and training so don't have a ton saved up (~70k) Don't want to necessarily get into all the money since its not a financial advice sub, but I spend roughly about 5k/month on essentials. I haven't finalized my refinance, but also looking to spend about 5k/month on loan repayment.
I want to buy a 2019 CTR. Best offer so far (in socal), 42k out the door (including warranty), my current plan is to put 12k down, already preapproved for a loan, monthly payments will be ~550/month.
But have 2 years left on lease (2019 accord manual), I'd lose about $4000 selling the lease at this point.
my current dilemmas
Thanks for reading, I know there are no "right or wrong" answers, lot of is personal preference and decision making, but just want to hear people's thoughts and opinions.
- I know I'm essentially wasting money to get what I want early- but is this completely irresponsible financially? Is waiting the only and right answer?
- Is this car even worth it at this point in my life...I can be spending that money on school loans, saving up for house, etc.
- Less of a financial dilemma-- should I wait for 2020 model (I like the honda sensing, but not a need need, but just feel like I'd be missing out; but also anticipating huge markups for 2020 on release esp in socal, so would I have to wait another year or so to see reasonable prices)
Never enslave yourself to a creditor again HALLELUJAH AMEN BROTHERHe can't pay it off in 3 months because he doesn't net anywhere near $17k/month. And he has other large debts as well as needs money to live off of in the mean time. However, with his income if he was patient he could clear all of his debts and build a strong financial foundation very fast, and then can be in the market for a much nicer car all the while never having to enslave himself to a creditor again. But hey, patience is a virtue possessed by few.
Yahoo here, I gave my personal viewpoint on finances because he asked for it. A vehicle is likely the second largest purchase you'll ever make. It is ultimately a finance question. Most people don't like my viewpoint because most people are broke and they can't stand to face the realization that it's their own fault. Don't ever take financial advice from a broke person unless you want to be like them.Congrats on the schooling, training and family.
But, why ask a forum of people that don’t know you for advice (and the set of yahoos espousing their personal viewpoint on finances). If you really want some advice, talk with your parents, friends, former instructors, peers at work whom you trust.
Yeah for sure, I’d definitely listen to other yahoos in debt. Smh.Congrats on the schooling, training and family.
But, why ask a forum of people that don’t know you for advice (and the set of yahoos espousing their personal viewpoint on finances). If you really want some advice, talk with your parents, friends, former instructors, peers at work whom you trust.
If you need someone on a forum to advise you what to do or not do, you shouldn't be looking at all. You obviously signed up for an account on this forum for a reason. Based on grammar, I think you are trolling.I just need to hear opinions/voices of reason in my dilemma. I understand the bias of posting in a CTR forum, but maybe I'm just looking to hear what I want to hear. But I welcome all opinions
Just to get a full picture, just a little background
In early 30s, married, no kids (but planning for near future), sole breadwinner for the house. Monthly income of about 17k/month but only started the job 4 months ago after years of schooling and training so don't have a ton saved up (~70k) Don't want to necessarily get into all the money since its not a financial advice sub, but I spend roughly about 5k/month on essentials. I haven't finalized my refinance, but also looking to spend about 5k/month on loan repayment.
I want to buy a 2019 CTR. Best offer so far (in socal), 42k out the door (including warranty), my current plan is to put 12k down, already preapproved for a loan, monthly payments will be ~550/month.
But have 2 years left on lease (2019 accord manual), I'd lose about $4000 selling the lease at this point.
my current dilemmas
Thanks for reading, I know there are no "right or wrong" answers, lot of is personal preference and decision making, but just want to hear people's thoughts and opinions.
- I know I'm essentially wasting money to get what I want early- but is this completely irresponsible financially? Is waiting the only and right answer?
- Is this car even worth it at this point in my life...I can be spending that money on school loans, saving up for house, etc.
- Less of a financial dilemma-- should I wait for 2020 model (I like the honda sensing, but not a need need, but just feel like I'd be missing out; but also anticipating huge markups for 2020 on release esp in socal, so would I have to wait another year or so to see reasonable prices)
lolI will tell you the CTR may not be what you think it is. I say this from experience. I have a 2019 CTR, Hondata 93 oct tune with improved throttle response, PRL HVI and PRL TIP. All that and my GF stock WRX is more fun in daily driving conditions. The only time I get a smile is the freeway ramp for about 2 seconds. Anything more than that and you are playing with fire. I'm hoping a custom tune will get me where I'd like to be. As I look around for my next mod I also toss the idea of trading my CTR for a WRX. As great as the CTR is it did not tick the boxes I was hoping it would. Also, our winter car 2014 Mazda 6 w 144,000 Ohio miles has dead center steering. All the rave reviews about the CTR steering had me so excited about that. It's pretty good but not what it was hyped up to be. The Mazda is better.