If I take a second job, can I afford a new car?

[thehotsung8701A]

I have a primary job and so the money won't even touch it. I want to get a 2nd job just to buy a new car.

I want the Ford Shelby 350 GT Mustang. It scream to me. Gear 1 is 55 mph and yet my SUV at gear 4 is barely 50 mph D:.

I know they say to only use 10% of your gross income if you want to buy a car but if I take a 2nd job (not touching my primary job income), would that be consider 10% or more?

I was going to get a Prius so that I can travel far and wide like Ashe and Pikachu but then I realize the fun part of traveling is the thrill of the drive and that only happen in a driver car, something I never experienced before.

All I ever had in my life was boring Camry and what not. Currently I'm driving a manual Honda CRV which is okay. But it shifter and gear is shit.

What do you guys think? I want some enjoyment on the road and out of life.

 

[Insomniator]

I think the enjoyment lost by having a second job negates anything gained by the extra car.

Also you wont be doing much shifting in the Shelby if first gear is 55

 

[thehotsung8701A]

I think the enjoyment lost by having a second job negates anything gained by the extra car.

Also you wont be doing much shifting in the Shelby if first gear is 55

That true if my job require work but it doesn't. My primary job I don't do anything and get pay. I can't really go into further detail cause that a breach of policy with my workplace.

Meaning I work night shift and I can work dayshift as well. Would be much better since i'll be out of the house and interacting with people instead of working at home.

As for the gear, yup but it makes it easier to eat and drive like an automatic. My Honda CRV gear shifts is just not possible. It would be like having a first day job except that you may be right. I won't have time to even drive that car.

Ever since my mom pass away (a year before her retirement and social security) life to me is just so short and I want to enjoy it while I can you know. Also I been in 4 accidents via Cars hitting me on my bike so I know that you got to cherish each and every moment so why not go out with a bang?

 

[postmortemIA]

and this is reason why car companies make so much money.

 

[thehotsung8701A]

and this is reason why car companies make so much money.

What do you mean by that?

 

[postmortemIA]

What do you mean by that?

You're going out of your way to buy a car that you admit you cannot reasonably pay with your current income. As others have said, this is the last reason a person should have for getting a second job.

Better reasons would be:
-invest for college
-invest money for opening a small business
-save for home upgrade
-pay off debt

etc.
vs
-spend it on something expensive that loses the value every year

So who should be buying that car? Somebody who won't be negatively affected by paying for it.

So what should you do if you like cars but you cant afford fancy ones? The answer is: get the car you can afford and drive it to the ground, and improve it as you can.

 

[videogames101]

You're going out of your way to buy a car that you admit you cannot reasonably pay with your current income. As others have said, this is the last reason a person should have for getting a second job.

Better reasons would be:
-invest for college
-invest money for opening a small business
-save for home upgrade
-pay off debt

etc.
vs
-spend it on something expensive that loses the value every year

So who should be buying that car? Somebody who won't be negatively affected by paying for it.

So what should you do if you like cars but you cant afford fancy ones? The answer is: get the car you can afford and drive it to the ground, and improve it as you can.

mr pragmatic :thumbsdown:

 

[Dr. Detroit]

YOLO!

Fuck it man, get yourself a 7 or 8yr loan on that new Shelby with minimal down. Get a $1000 deductible cheap insurance policy without gap coverage as well.

Might as well enjoy your life in a car you can barely afford as you work a 2nd job waiting tables or delivering pizzas in your CRV.

YOLO!

 

[shabby]

I think the enjoyment lost by having a second job negates anything gained by the extra car.

Ain't that the truth.

 

[thehotsung8701A]

You're going out of your way to buy a car that you admit you cannot reasonably pay with your current income. As others have said, this is the last reason a person should have for getting a second job.

Better reasons would be:
-invest for college
-invest money for opening a small business
-save for home upgrade
-pay off debt

etc.
vs
-spend it on something expensive that loses the value every year

So who should be buying that car? Somebody who won't be negatively affected by paying for it.

So what should you do if you like cars but you cant afford fancy ones? The answer is: get the car you can afford and drive it to the ground, and improve it as you can.

Thank you for the explanation :thumbsup:

To followup with your replies. I already graduated from a good university. I don't care about opening a small business. I don't care about owning a home (I don't like being in one place too long). Pay off debts - you have a point there but I'm doing fine on that front.

If I were to drive my current car in the ground, I would be 67 years old before that things break down since I only drive 3500 thousand miles per year which is far less than the average. I bought this car a long time ago. It been 15 years now and the car is only at 80K to give you an idea. It would literally be my first and last car ever. I mean for an SUV, it is pretty dam fast but it no Mustang. There no point in buying a nice sport car when your old and can't drive it. My dad can no longer drive a manual car anymore.

Also why do I need a loan? I can pay it off monthly pretty easily.

 

[tortillasoup]

I have a primary job and so the money won't even touch it. I want to get a 2nd job just to buy a new car.

I want the Ford Shelby 350 GT Mustang. It scream to me. Gear 1 is 55 mph and yet my SUV at gear 4 is barely 50 mph D:.

I know they say to only use 10% of your gross income if you want to buy a car but if I take a 2nd job (not touching my primary job income), would that be consider 10% or more?

I was going to get a Prius so that I can travel far and wide like Ashe and Pikachu but then I realize the fun part of traveling is the thrill of the drive and that only happen in a driver car, something I never experienced before.

All I ever had in my life was boring Camry and what not. Currently I'm driving a manual Honda CRV which is okay. But it shifter and gear is shit.

What do you guys think? I want some enjoyment on the road and out of life.

Fast cars are boring if driven in a boring way. You can have fun in a Prius if you drive it aggressively. I just test drove a 2016 Prius today and I have to say, they really did stiffen up the handling and I wasn't even driving the touring model. When you drive a Prius, just pretend you're driving a 30 year old car and it won't feel so slow. If a car feels boring to you, it's because there is no excitement and frankly, most cars today are so refined that most really aren't all that exciting even if they are scary powerful because the power is so well buttoned down.

Another prop to the 2016 Prius is they finally have a way of turning off the traction control. Why it took a decade to do that is beyond me!

 

[slugg]

Just by reading the title, I thought this was going to be a troll thread. I see the OP is actually serious.

No, don't do it.

 

[thehotsung8701A]

Just by reading the title, I thought this was going to be a troll thread. I see the OP is actually serious.

No, don't do it.

I notice that you have a Miata in your signature. Ironically, the 2016 new design Miata is my 2nd choice and a car I can easily afford at 24K versus 60K for the 350gt. Obviously I can buy a regular Mustang but I don't see the point.

I know the Miata isn't about speed but handling that that also interested me like all other driver cars out there but the only thing stopping me from getting one is it not practical at least not as your only car.

What are your thoughts on the Miata? I never really like the look of the Miata until now.

 

[nOOky]

If you can't write a check for it, you can't afford it. Save up for it, don't get caught up in the monthly payment "I can afford this much a month" scam. Don't people save money or think about the future these days?

If you hate your CR-V trade it in, why drive something you don't like and then have a fun second car, yet double your insurance and license etc? If you take a second job be patient and save your money.

 

[KentState]

If you think that you are going to be driving around normally taking the car to 55 in first gear, then you shouldn't even come close to this car. Forget about income and car payments, that right there is reason enough to stick with a CR-V. Any novice manual driver would be shifting into 5th gear around 55mph on the road. Even on a road course, the car wouldn't see first gear besides leaving the pit area.

 

[XavierMace]

You can have fun in a Prius if you drive it aggressively.

No you can't.

 

[Dice144]

Getting a second car that requires a second job... sounds like a receipt for disaster.

If for some reason you lose your job... huge pile of debt without income.

 

[Kaido]

I say go for it. If you're willing to work to achieve your dreams, why not. I worked three (crummy) jobs in college one point to cover my school bills; financial goals are doable if you're willing to work for them! You could be hit by a bus tomorrow & you'll have missed out on driving the car you love, so if you have the itch & have a work ethic, go for it.

Bottom line is, if you can responsibly afford it, there's no reason not to. If that means picking up a second job to cover the bill, and you're willing to do that for the next 5 years on the loan, then while it's not the most pragmatic idea, it's not like you're using credit cards to pay the bill every month, and there's always part-time jobs & night-shift jobs available. The math works, too - let's say the car is $50k, divided by a 60-month loan, equals $834 a month or $209 a week. Go deliver pizzas for a few hours a night, six days a week, and eventually your car will be paid off & you can quit the second job because you'll only need to cover gas, insurance, and repairs instead of a huge car payment.

 

[Viper GTS]

Keep in mind that dealers are trying to get massive market adjustment on these. My local Ford dealer (which I hate for entirely unrelated reasons) has three GT350R in their showroom marked at $20k over sticker - $78k total.

Viper GTS

 

[basslover1]

Keep in mind that dealers are trying to get massive market adjustment on these. My local Ford dealer (which I hate for entirely unrelated reasons) has three GT350R in their showroom marked at $20k over sticker - $78k total.

Viper GTS

That's it? One dealer in Ohio marked theirs up $80,000 to $150,000.

 

[Yuriman]

Frankly, I'd rather tinker with my old cars on my days off than work every day to have a new car in my driveway that I never have time to enjoy.

You're free to spend your time and money however you feel will give you the greatest enjoyment, but I'd think long and hard before putting your signature on a big piece of debt.

 

[nOOky]

Getting a second car that requires a second job... sounds like a receipt for disaster.

If for some reason you lose your job... huge pile of debt without income.

Exactly, it's all about risk. A lot of people are too immature financially to consider risk. All's it really takes to become financially independent is a couple of years of buckling down, paying everything off, building a modest savings for emergencies, and then saving up for a car or a damn good down payment on one.

I really hate the justification "you might die tomorrow, live life" because normally the majority of us will live a long time. Who wants to be old and poor with no savings? But I guess the old-fashioned way is out of style in this gotta-have-everything-now culture we're in.

I can tell you it took me too long to figure it out, but after I straightened out my life financially, it was a great feeling to go in and write a check for a new car purchase. It's not so much how much you make, it's what you save and don't piss away.

Anyway the Ford is a really nice car, wish I could afford one, wish I could afford Nissan GT-R also

 

[thehotsung8701A]

If you can't write a check for it, you can't afford it. Save up for it, don't get caught up in the monthly payment "I can afford this much a month" scam. Don't people save money or think about the future these days?

If you hate your CR-V trade it in, why drive something you don't like and then have a fun second car, yet double your insurance and license etc? If you take a second job be patient and save your money.

People do think about their future these days but I don't and never have. I lost my girlfriend and kids years ago and recently lost my mom so I know how short life really is. I just want to have some fun while I can. I was close to starting my own business but my girlfriend who was soon to be my fiance die and I haven't recover ever since. She was my soulmate, she was everything to me. After abandoning the business we just started, I decided to go back to college and become a nurse. 2 years later my mom passed away and the way she die being in the ICU made it impossible for me to become a nurse with so much PTSD off so many deaths.

I love my CR-V, it my first car and you never forget your first. Though I probably should have spend a little more for the FJ Cruiser. Regardless if I'm going to be wasting gas, I rather be wasting gas having fun instead. I only plan on having one car.

Thanks for the replies, sorry about the brief history of my life. Just had to put it in there so people can understand my perspective and how I view my life.

 

[Naeeldar]

Exactly, it's all about risk. A lot of people are too immature financially to consider risk. All's it really takes to become financially independent is a couple of years of buckling down, paying everything off, building a modest savings for emergencies, and then saving up for a car or a damn good down payment on one.

I really hate the justification "you might die tomorrow, live life" because normally the majority of us will live a long time. Who wants to be old and poor with no savings? But I guess the old-fashioned way is out of style in this gotta-have-everything-now culture we're in.

I can tell you it took me too long to figure it out, but after I straightened out my life financially, it was a great feeling to go in and write a check for a new car purchase. It's not so much how much you make, it's what you save and don't piss away.

Anyway the Ford is a really nice car, wish I could afford one, wish I could afford Nissan GT-R also

Eh I'm all about fiscal responsibility but I don't get the if you cna't write a check can't afford it thing. Sounds like you got burned young and then the pendulum swung hard the other day.

I'm 31 sitting on 125k in 401k, two houses, and you better believe I pay a car payment. But i have plenty in assets. So why can't I have a car payment?

 

[angminas]

Unless you go the track a lot, you'll never be able to get that car anywhere near its limits, so paying that much for it doesn't make a lot of sense. You could get a very fun car for a fraction of what you'd pay for that Mustang.

If you're dead set on it, be absolutely sure that you check the price of full coverage insurance first and add that into your calculations. Maintenance, too.