2012 is
10-13-10, 07:59 PM
#18
I agree, the last few years of a model are more reliable. But don't forget about how resale values take a bigger hit compared to earlier model years. The car is outdated in a very short time. So if you add up all that, the value may be a wash as far as recalls and TSB's.
10-13-10, 10:31 PM
#19
Lexus Test Driver
Great point. Deals are much better near the end.
10-13-10, 10:50 PM
#20
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*raises hand* Old person here.
With your calculations, I'm guessing that you are living somewhere that has no rent payment. Keep in mind that for the duration of your loan (should you decide to keep it) you will (unless you get a raise or better pay) have to keep your lifestyle the way it currently is.
Will you move somewhere else and have to pay rent, utilities and food?
Will you have an SO that will occupy some of your paycheck?
Will you be continuing school (less time for work)?
Will you be wanting any more expensive toys (motorcycle, perhaps?)
Always always always have emergency money stashed away. My rule of thumb is to have at least 1/3 of your paycheck put into savings.
With your calculations, I'm guessing that you are living somewhere that has no rent payment. Keep in mind that for the duration of your loan (should you decide to keep it) you will (unless you get a raise or better pay) have to keep your lifestyle the way it currently is.
Will you move somewhere else and have to pay rent, utilities and food?
Will you have an SO that will occupy some of your paycheck?
Will you be continuing school (less time for work)?
Will you be wanting any more expensive toys (motorcycle, perhaps?)
Always always always have emergency money stashed away. My rule of thumb is to have at least 1/3 of your paycheck put into savings.
You're correct, I don't have any rent payment because I still live with my parents. I'm thinking of getting my IS350 next Christmas, which will probably be the last set of IS350's before the redesign. I plan to lease my IS350 for 3 years, and then buy it, or if the payments are less and the APR is real low, have a 60 month finance buy.
To answer your questions:
I am going to school to get an AS in Fire Technology, and hopefully become a FireFighter in 4 years or less. Once I become a Firefighter, my monthly income will go from $1,200 to $5,500-$6,000 a month.
I do plan on moving out, once I get my career going, but will continue going to school for a BA. With the money I'll be making as a Firefighter, I should be able to afford a Condo (payments less than $2,200 a month), and afford utilities and all other bills.
I don't plan on buying any other expensive toys, other than modifying my IS350 to make it nicer looking and faster. I'm more of a technology nerd, so I'll be buying gizmo's and gadgets and so on.
As for saving money, with my current job of making $1,200 a month, I do plan to save around $300-$500 a month.
10-13-10, 10:51 PM
#21
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10-13-10, 10:51 PM
#22
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How sure are you about the 2012 release of the 2013 model?
It's just, I donno. The GS is having a redesign, and it will give it a 6 year cycle, and I figured the same would happen to the IS, since they were both released the same year, and I figured they would both have a redesign in the same year also.
It's just, I donno. The GS is having a redesign, and it will give it a 6 year cycle, and I figured the same would happen to the IS, since they were both released the same year, and I figured they would both have a redesign in the same year also.
10-13-10, 10:53 PM
#23
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I plan on spending $300 for credit card payments a month (damn 29.99% apr, ruinin my life), less than $100 for phone payments. I'm hoping to spend less than $500 a month for a car. I do plan on saving $400 a month for at least a year or 2, having anywhere between $4,800-$9,600 saved up. Obviously its not all gonna go towards a down payment. Just $2,500. The rest should be there to make the payments for the car, in case, God forbid, my hours get cut.
Pay down your debt and start saving man. A car is a horrible investment in general and especially so when it represents 2-3 years of take home pay and is new.
I like my IS250, but 70% of what I spent on the damn thing is going to disappear over the next 8 years. I have enough credit/savings to buy a $100k car, but can't stomach losing $70k on it over the next 8 years which is why I opted for the IS250.
10-13-10, 10:58 PM
#24
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Hello Old Person (how old? 30s?)
You're correct, I don't have any rent payment because I still live with my parents. I'm thinking of getting my IS350 next Christmas, which will probably be the last set of IS350's before the redesign. I plan to lease my IS350 for 3 years, and then buy it, or if the payments are less and the APR is real low, have a 60 month finance buy.
To answer your questions:
I am going to school to get an AS in Fire Technology, and hopefully become a FireFighter in 4 years or less. Once I become a Firefighter, my monthly income will go from $1,200 to $5,500-$6,000 a month.
I do plan on moving out, once I get my career going, but will continue going to school for a BA. With the money I'll be making as a Firefighter, I should be able to afford a Condo (payments less than $2,200 a month), and afford utilities and all other bills.
I don't plan on buying any other expensive toys, other than modifying my IS350 to make it nicer looking and faster. I'm more of a technology nerd, so I'll be buying gizmo's and gadgets and so on.
As for saving money, with my current job of making $1,200 a month, I do plan to save around $300-$500 a month.
You're correct, I don't have any rent payment because I still live with my parents. I'm thinking of getting my IS350 next Christmas, which will probably be the last set of IS350's before the redesign. I plan to lease my IS350 for 3 years, and then buy it, or if the payments are less and the APR is real low, have a 60 month finance buy.
To answer your questions:
I am going to school to get an AS in Fire Technology, and hopefully become a FireFighter in 4 years or less. Once I become a Firefighter, my monthly income will go from $1,200 to $5,500-$6,000 a month.
I do plan on moving out, once I get my career going, but will continue going to school for a BA. With the money I'll be making as a Firefighter, I should be able to afford a Condo (payments less than $2,200 a month), and afford utilities and all other bills.
I don't plan on buying any other expensive toys, other than modifying my IS350 to make it nicer looking and faster. I'm more of a technology nerd, so I'll be buying gizmo's and gadgets and so on.
As for saving money, with my current job of making $1,200 a month, I do plan to save around $300-$500 a month.
10-13-10, 10:59 PM
#25
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Do they even teach math in high schools anymore?
Pay down your debt and start saving man. A car is a horrible investment in general and especially so when it represents 2-3 years of take home pay and is new.
I like my IS250, but 70% of what I spent on the damn thing is going to disappear over the next 8 years. I have enough credit/savings to buy a $100k car, but can't stomach losing $70k on it over the next 8 years which is why I opted for the IS250.
Pay down your debt and start saving man. A car is a horrible investment in general and especially so when it represents 2-3 years of take home pay and is new.
I like my IS250, but 70% of what I spent on the damn thing is going to disappear over the next 8 years. I have enough credit/savings to buy a $100k car, but can't stomach losing $70k on it over the next 8 years which is why I opted for the IS250.
I did do this "blueprint" thing on the Chase website, and I have it planned out to pay off both of my credit cards (a little over $5k) by July 2012. But when December 2011 comes a long, or the next best offer for the IS350, I'm gonna go for it.
I'm currently driving a 1990 Lexus LS400, has 132,000 miles, and still runs. The reliability of the lexus is amazing, and once I buy a brand new IS350, I'm gonna be keeping it for 10-20 years before selling it. Not saying that I won't be buying another car in the meantime, just saying that I'll be keeping it for a while.
10-13-10, 11:08 PM
#27
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Cool plan! Just for the record though, the majority of us claim we'll keep our current car for a while or till it dies. Then in a few years a new model comes out, we have to have it, and the old plan goes into the trashcan. I am guilty of this, but learned a few cars ago I'm fooling myself and others with the claim. When you are a car guy, the new cars usually win out and you want the next better thing or a new project.
I'm a tech guy, I'm 23 years old, and love Apple. I got a Macbook in 2007, and then gave it to my parents cause it was falling apart, and got me a nice iMac a few months ago. But when it comes to technology, I came to realize that its IMPOSSIBLE to keep up with it. With new advances being released every 6 months to a year, there is no way to keep up. I'm not gonna be wasting money every year, just because something is newer!
When it comes to cars, thank God they're a bit more forgiving and having a facelift 3 1/2 years later, and a redesign 6-7 years later! With that said, I'm gonna buy the last year of the 2nd Gen IS350 (in 2011, I'll buy the 2012 model), and the next car I will buy, will most likely be the last year of the 4th Gen GS350 (in 2018, I'll buy the 2019 model).
At least this way, I'll have a car paid off, improve my credit score, not worry for car payments for 2 years, and then buy a newer toy.
10-13-10, 11:09 PM
#28
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People tell me to not pay off a credit card completely, cause it somehow effects your credit score in a negative way. But I will be paying off a huge majority of it in the next 14-18 months.
10-13-10, 11:12 PM
#30
dude no offense, especially since i am only 22 (i paid for my car upfront all by myself, though i did buy it used at a ridiculously low price), but what your making and how much you owe, you should totally not be leasing or even trying to buy a new car. you should really consider looking into buying used, it'll save you a fortune. In addition, your making way to little money to try to finance a car by yourself. I make close to a grand a month, and i only have to work 10 hours a week and i couldn't even buy a NEW car. you should make sure you know where your priorities are at.
get out of debt, go to school, get paid, then buy a car
get out of debt, go to school, get paid, then buy a car