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Old 01-11-2017, 09:04 PM   #211
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I say it d be eaiser to afford an expensive car the younger you are as long as you have a steady job because you don t have as many responsiblities, you get more help from the parents and you just feel careless about having a big debt.

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Old 01-11-2017, 09:45 PM   #212
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Another thing to consider is given the rise in car prices dealerships are financing longer for up to 84 months. A 30,000 car with a small down payment/ trade in can be had for 3-4 hundred a month. I would not finance a car that long but a lot of people do it.



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Old 01-14-2017, 07:19 PM   #213
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Small inheritance from parents after that passed allowed me to buy my first stang 99 v6 auto. From there I traded it for a 99 cobra, than I traded for a 350z, than recently I put down my first car loan on a 05 gt with 95k for 8600. I found it cheap and I really like it. Never had a car loan so this is a cool experience.

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Old 01-18-2017, 07:58 PM   #214
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I always wondered how young people afford these cars too... when the 2015's came out I noticed almost overnight all the young kids at my local cars and coffee had the them right away while I was driving a base 2014 V6.

It seems most everyone these days finances these expensive cars. I wouldn't be surprised if we see this car financing bubble burst in a few years.

I was always taught to never buy a car that you couldn't pay cash for (not sure I agree with this anymore). Thus far, every car I've owned (2 corvettes and 3 mustangs) has been paid off from day one. My biggest advantage came from my parents paying for my college. In addition though, I worked throughout highschool and college, and saved/invested all my money. Then I went on to become a CPA which paid well too.

One key thing that also helped me, was I waited till I was 23 to buy my first car (a c4 corvette). Before then I either borrowed a car from my parents or went without a car. Looking back, considering how obsessed I am with cars, I don't know how I went so long without.

At a young age, I think its best to focus on accumulating cash and to avoid blowing it on expensive depreciating assets. Post-ponning marriage and kids is a good idea too. It definitely gives you a huge step up later down the road in life. There's no reason life has to end at 30 either (I'm 30 btw).

I'm not trying to brag... but because I was super thrifty for so many years now I have a house that pays for itself (partial rental property) and once I get out of school in 6 months (working on my PhD) I can pretty much buy any car I want within reason.
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Old 01-18-2017, 10:51 PM   #215
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I'm 23. Graduated from college December 2015, got my first salaried job January 5th 2016, bought my mustang January 13th. Before that I delivered pizza in a 98 Pontiac Sunfire

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Old 01-24-2017, 11:50 AM   #216
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I get 2 huge grants for college, usually have $7k after two semester in the bank, I'm a senior now so I've had a

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Old 01-24-2017, 11:51 AM   #217
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Dang I uploaded my pics backwards lol


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Old 01-24-2017, 12:14 PM   #218
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Buying a new car, & owning a paid-off car are VERY different things haha


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Old 01-24-2017, 04:06 PM   #219
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I decided college wasn't for me and went to trade school


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Old 01-28-2017, 10:44 AM   #220
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I decided college wasn't for me and went to trade school


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Old 01-30-2017, 05:45 AM   #221
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$50,000 is cheap. ^^
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Old 01-30-2017, 09:56 AM   #222
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And that is the sad part ^^


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Old 01-30-2017, 10:52 AM   #223
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i'm 50% American, but 100% Canadian. & it grows every day...
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Old 01-30-2017, 01:41 PM   #224
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I was able to buy a new Mustang GT back in 92 because I still lived with my parents. I had to sell it 13 months later when I moved out lol. I went to trade school, so I made decent money then. But now, all the kids that went to college and got a degree make a ton more than I do, so I can't really buy a new Mustang. They just cost so damn much and I'd rather spend the money on a nice family car or car for my wife. Great condition used Mustangs are still around though, if you're willing to be patient. Heck, my 04 Mach 1 is leaps and bounds better than my 92 GT was as far as performance, brakes, etc. I might look for a Boss 302 or GT500 someday down the road, but I'm happy with the Mach as well.

Here's a tip for you younger folks...get the college degree. It really starts to shine when you are older and deep in your career. It also gives you more opportunities to change careers compared to trade schools. Anyway, thought I'd chime in on an older thread.
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Old 02-02-2017, 06:31 PM   #225
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Thanks for the advice!


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Old 02-03-2017, 01:58 PM   #226
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Here's a tip for you younger folks...get the college degree. It really starts to shine when you are older and deep in your career. It also gives you more opportunities to change careers compared to trade schools. Anyway, thought I'd chime in on an older thread.
I agree with this to a degree (haha see what I did there?! )

I know plenty of people who have a bachelors degree in liberal arts fields or business and are making more in trades than what their major would pay. The key is to be smart about what you go for.

Perfect example, one of my roommates in college attended Marquette University for journalism. When I was there ~2007-2012 tuition was $34k/year. Needless to say his highest job offer after 4 years was under $30k. He's now a premise tech at AT&T making more than his highest journalism job offer. He graduated with close to $100k in student loans and a degree he couldn't use to pay them back!

If you are just starting out and considering a career in machine tool technology or nursing and are considering an associates degree, it may be worth it to go another two years and get a bachelor's degree in engineering technology or to become an RN.

If a 4 year option is a financial challenge or just plain life challenges prevent it there's nothing wrong with an associates degree. I personally feel vocational degrees are discouraged too much by the educational system. Caterpillar has had a strong demand for welders and heavy equipment mechanics (both 2 year programs). Starting pay is around $50-70k/year. Not everyone needs to attend a 4 year institution and that's alright.

Another thing to consider is completing a degree or furthering a degree thru your employer. More and more companies are willing to further a person's education if they feel they are committed to the company and that person is looking for advancement within the company.
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Old 02-03-2017, 02:34 PM   #227
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I agree with this to a degree (haha see what I did there?! )


Quote:
I know plenty of people who have a bachelors degree in liberal arts fields or business and are making more in trades than what their major would pay. The key is to be smart about what you go for.

Perfect example, one of my roommates in college attended Marquette University for journalism. When I was there ~2007-2012 tuition was $34k/year. Needless to say his highest job offer after 4 years was under $30k. He's now a premise tech at AT&T making more than his highest journalism job offer. He graduated with close to $100k in student loans and a degree he couldn't use to pay them back!

If you are just starting out and considering a career in machine tool technology or nursing and are considering an associates degree, it may be worth it to go another two years and get a bachelor's degree in engineering technology or to become an RN.

If a 4 year option is a financial challenge or just plain life challenges prevent it there's nothing wrong with an associates degree. I personally feel vocational degrees are discouraged too much by the educational system. Caterpillar has had a strong demand for welders and heavy equipment mechanics (both 2 year programs). Starting pay is around $50-70k/year. Not everyone needs to attend a 4 year institution and that's alright.

Another thing to consider is completing a degree or furthering a degree thru your employer. More and more companies are willing to further a person's education if they feel they are committed to the company and that person is looking for advancement within the company.
I will totally agree with you there. Choosing the right path for a degree is a must. I'm sure that's pretty hard these days. You are correct, many companies (and many more than 20 years ago) have education programs that pay for most and even all your schooling. At least half the engineers where I work obtain their masters degrees on the companies dime. I think the key is to at least have an associates degree already because it's going to take several years to obtain a bachelor degree while you are working full time. I have a friend that has done that though. It took him about 12 years to get his bachelors in electrical engineering technology. I tried to go in the early 90's, but I had several years of basic classes that I needed to complete before even getting into a program. I was just too far behind lol. Times are different now than they were in the late 80's, but I think I would still recommend a college degree for everyone nowadays. When you go into a specific trade, depending on where you work, you could have limit options for moving up. You can often be stuck doing the same job for decades, with minimal pay increases. If you think about it, you can really only make a certain amount of money doing a job before it becomes an issue with your employer. Some trade jobs don't have a lot of growth room for pay because it's limited by the overall costs of what the services are. An example would be an auto mechanic. Car repair can only cost so much. At flat rate pay for an auto mechanic, you're likely to make about the same for years and years, unless you can move up and become a supervisor or a service manager. It's tough to know what you want to do when your young, but you want to at least try and pick an education that has many different avenues you can go into.
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Old 02-03-2017, 05:06 PM   #228
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Your almost young enough to still be running around with your father and you haven't been introduced to your mother.
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Old 02-16-2017, 05:22 PM   #229
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I don't know if anyone else has said it, but I got mine because of being in the military. You come off your first deployment with lots of money saved, and nothing to spend it on but booze, girls, and cars. The parking lot of my barracks looks like a car dealership; nothing but big ole brand new trucks, jeeps, mustangs, camaros, and various other sports cars like WRXs or FR-Ss.

The problem is for a lot of young guys this is their first job that pays anything worth spending (or first job at all for some of them) and run out into town and buy a car for 25% interest at some shady used car dealer. It's funny really, the mustang is the stereotypical "boot" car (boot meaning someone who is fresh and hasn't deployed yet) because they run out and buy some old mustang with a million miles and a high interest rate as soon as they hit their unit.
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Old 03-09-2017, 09:33 PM   #230
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It's simple.... cars are my passion and women are my hobby lol jk. Well depending on your definition of what young is, I am 35 and I got my 2014 for my 35th birthday. How we do it is by getting in debt lol... well I have a decent job and I make payment.
They gave me 7 years to pay for the car, 9 months in and I've already paid off a quarter of what I owe the bank.

So if you are responsible and have a decent job, it's do-able.
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Old 03-10-2017, 09:34 AM   #231
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Another issue is, too many people want the "latest & greatest," even when they don't like the styling, or engine choices, & whatever else haha
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