Type R Owners, How much do you make? Financial advisers chime in.

[tsdobbi]

27 year old here looking for opinions and advice for trading in my car for a TypeR. I think the peer pressure of co-workers

and friends giving me shit for not getting a type-R and spending money on the base model is making me

consider trading it in for one, although deep down i've been wanting to get one for quite some time anyway, but i've always

been conservative with my money and have always owned really cheap used cars in the past. So I gross

70k a year and have around 32k saved up right now. I only pay 300 a month rent at my parents' house but am gonna move

out very soon. Would it be a smart decision to take the hit of trading in my sport i've had for 1.5 years and

finance the R? It would be my daily. Is it worth it? Am I just being cheap or am I too poor to be able to afford one? Get one

now or wait for 2020 idk...

Im more or less just jealous I didn't do what you did and live with my parents for a spell out of college. They would have been more than willing to keep me around, but I wanted out. In your current situation you can easily finance a type R. As far as when you are out on your own, it completely depends on your cost of living. Telling us how much you make without knowing what your rent/mortage bills are a month is kind of pointless.

With all this said let me tell you a story.

One of my good friends from highschool, went to school for computer science got a job out of college, lived with his parents. Drove old used cars, was thrifty. He bought a McDonalds franchise with the money he saved at 32. We're now both 37 and he owns 4 McDonalds franchises and doesn't actually work. He now lives in a sprawling McMansion with a BMW as his daily driver and 3 restored classic cars. I really wish I had his discipline when I was younger. Your 30's aint old, As long as your parents are cool with it, keep living at home and make your money work for you and soon enough your Type R could be your cheap vehicle.

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[julianzh]

i wonder how people can live in SF or NYC while only working in Starbucks.

OP, if i were you. i will live with my parents and save enough money to buy a house or a condo. ask yourself this, do you need a car or want a car? take care your needs before your wants.

 

[GarbageFk7]

Im more or less just jealous I didn't do what you did and live with my parents for a spell out of college. They would have been more than willing to keep me around, but I wanted out. In your current situation you can easily finance a type R. As far as when you are out on your own, it completely depends on your cost of living. Telling us how much you make without knowing what your rent/mortage bills are a month is kind of pointless.

With all this said let me tell you a story.

One of my good friends from highschool, went to school for computer science got a job out of college, lived with his parents. Drove old used cars, was thrifty. He bought a McDonalds franchise with the money he saved at 32. We're now both 37 and he owns 4 McDonalds franchises and doesn't actually work. He now lives in a sprawling McMansion with a BMW as his daily driver and 3 restored classic cars. I really wish I had his discipline when I was younger. Your 30's aint old, As long as your parents are cool with it, keep living at home and make your money work for you and soon enough your Type R could be your cheap vehicle.

I was just reading it actually takes around 500,000$ to buy a mcdonalds franchise? He saved that much until he was 32?? Anyways I've been working my ass off now 6 days a week ever since I got my type R because I realize I did make a terrible financial decision, but it was kinda worth it because it's a crazy fun car to drive. So by the end of this year I'll be turning 27 and gonna be on par for 50k in savings. If i work my ass off for 2 more years I'll have around 110k in savings when I turn 29. I just don't know what to invest my money in at that point. Rental property? Maybe stocks? I just wanna invest in something so I can retire early and not work anymore just like your buddy.

 

[julianzh]

I was just reading it actually takes around 500,000$ to buy a mcdonalds franchise? He saved that much until he was 32?? Anyways I've been working my ass off now 6 days a week ever since I got my type R because I realize I did make a terrible financial decision, but it was kinda worth it because it's a crazy fun car to drive. So by the end of this year I'll be turning 27 and gonna be on par for 50k in savings. If i work my ass off for 2 more years I'll have around 110k in savings when I turn 29. I just don't know what to invest my money in at that point. Rental property? Maybe stocks? I just wanna invest in something so I can retire early and not work anymore just like your buddy.

it's his job, IT field makes a lot of money.

if you really into stock. buy google, apple, and amazon. buy it and forget about it. by the time you retire, those stocks will worth millions.

 

[Fenrir07]

Sorry to necro this thread.

Responding to the OP. I'd probably wait another year or two, long after you've moved and got your budgeting established but also firmed up your position within your career. Just my two cents.

I'm also looking at getting a Type R. My intent is to put a down payment of $23k (give or take) on the car and finance the rest for 36-48 months. My income is nearly $100k and I've been very budget conscious along with investing my money since college so the money is definitely there to spend.

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