Keppie

Don't touch the car. You are getting in way over your head and once you walk out the door with signed papers your goose is cooked. While I enjoy my IS it is a car, only a car and there are many great cars available for a lot less money. I don't want to discourage your dreams and goals but as others have said you have no idea what will happen in the future. Save up for a down payment on a home, invest in the stock market, buy bonds, etc. Do things that will make you money not guarantee a loss. There will be a time in your life when you can lose money on things like cars but when someone refers to cell phone bills, food and a 40K car in the same thread I get nervous about the outcome. Please don't interpret my comments as negative but realistic.

Keep us posted.

dojoman

iTrader: (5)

$38K invoice sounds about right but mine was also invoice $38k but includes X-package, Premium Pkg, Nav without ML. I think Neil quoted you a bit higher. I recommend you talk to internet fleet manager name Gabe.
As for lease? Don't do it. You buy Japanese cars, you lease European cars. Lease will lock you in with low miles every year and if you go over you have to pay. Also if you get a used car think about all the options you want is in the car. If you want Nav but the car you are about to get has no nav, don't get it. After market din Navs don't look good with this car and it will lower the car's value. Tomtom, Garmin those type are ok but not aftermarket head unit.

Lex Law

I'm with everyone else on this thread. $9.20/hour = $18,400/year gross. If you want a 2IS get a 2006 IS250 model. It looks practically identical to every other 2IS on the road. If you have to drive this car, pay 1/2 and get a used car that will give you the Lexus pleasure without the pain from the finance company. You aren't doing well enough to eat 50% depreciation. At that hourly rate, you cannot afford a brand new Lexus and there is no point in trying.

At least we are having this conversation before you buy (I hope that's still true). Just make sure you take the car to a mechanic before committing your money. If you have the money, you are in charge, not the seller.

Someone I know owns their car outright and sets aside money each pay period as a car payment on their next car. Try doing that a couple of years, or at your rate 10 years, and see what it buys you. Then you'll realize the crazy jack you are about to spend on a car.

Put your eyes back in their sockets and start figuring out how, with more education, experience or certification, you are going to significantly improve your income. That extra money you save by getting a cheaper car will buy ALOT of toys, not just a cell phone and an electric bill.

Phil888

iTrader: (1)

Seriously you gotta pay to play.. But in your case with your low income, i would definately recommend a used car. You have to think ahead about your own future cause you might think you can afford the payments but sooner or later its going to catch up to.. Get something you're going to be happy with and not have to worry about it in the long run. You can get a 06 to 07 ISx50 around 25,000 and that should be your budget for a 4 to 6 year finance.
The best thing to do is have someone co-sign the car for you, hoping their credit score is better then yours and hopefully the bank (loan) will approve you faster. GL on your decisions and please dont give out any more of your personal information.. lolz

mvlbr

Is the OP for real You make $9.20 an hour and you want to buy a +40k car What do your parents think about your wise decision. Seriously if you make that much I wouldn't be looking at anything more than 15k even then it's too much.

phast350

So many caring people! That's why I love this forum!

Don't do it Gus! =)

I used to drive my Corolla and imagined all the way it was an IS250! Worked pretty well.
Vroom vroom!

Gus738

Thanks for the advice and you said the same line that my mom said " you are married or going to marry the car!" lol 5yr loan on a 2.9 apr puts me around 3k in intrest (plus inproved credit)

I negociated $40,500 OTD (including fee's out the door!) for a 2009 lexus is 350 with nav black on black! with preimum pakage so given the deal its kind of hard to turn it down Unless its not much of a deaL?

kalvano

No way any reputable bank buys this loan, unless you get a loan officer on crack for the day.

You want to buy a car that costs double what you make in year? Almost 50% of your monthly going to a car payment?

Those days are over.

It's an automatic TD with LFS if you don't crack $24K a year.

jackblack7

I sure hope this is a joke. And if not I hope no one would be crazy enough to approve his loan.

Gus738

Thanks for PMD me I have no bills to attend to other then my cell ($35) and electric($100) thats it .... and yes my % to income ratio is making this gap hard for being aproved, all in which case i wasnt aproved .....

Thunker

Gus738, I know it's disheartening to read all of these responses that are suggesting you not get the car. But they are right. There are folks on here that make 5 times what you do that give a LOT of thought to paying $40k for a car. A lot is going to change in your life over the next 4 or 5 years whether you believe it or not. You might get married, you might want a house, you might meet a girl that changes your priorities, you may want to go to school... there are so many things that can happen at your age that you'd really be crazy to spend that much money - you don't want to be tied to a car payment of that size. Having said all that, go to Edmunds and go to Forums in the upper right hand corner, find Lexus, then go to "Prices Paid and Buying Experience." You'll see what people are paying there.

Gus738

Well its not going to matter if i didnt get aproved, in which case maybe a used 06-07 makes more sense my intention is to keep car around 10yrs btw edmunds > forums is car space ? but i cant find the prices paid and buying experence section.....

ber01

So you make $9.20 an hour and are considering buying a $41k car? And you have debt?

I think you should be looking back to an 06 IS250, or honestly, something even more modest. A car should not be equivalent to an entire year's salary, let alone 4.

I make more than 10x your annual salary and still did not think it wise to buy a brand new IS350.

mvlbr

How many McDonald's employees do you see driving any ISX50 ?
Answer: None
So why should you be the exception to the rule when you clearly make just as much as a McDonald's employee. Not trying to be an A-hole just being realistic. Maybe you should look for a first gen IS if you really want an IS. BTW the insurance and maintenance on these cars are high have you even considered that?

speed_Demo

Hey, i don't think McDonald pay that much. He might work at In & Out, they get pay better.

Invoice price for 09 350 Nav, 18", Luxury Package is around $38,400. Vary slight in different area.


used 08 should be around low $30K

used 07 should be around high $20k, same options as above.

Good luck,