2012 is
10-14-10, 08:42 AM
#46
I think the Repo did hurt my credit score, but I'm slowly working on fixing it. The downpayment i put on the lease was $2200 or $2500, and it cost me $339 a month, or around $368 (including tax). It was just a bit too much.
But, I'm hoping to get my old job back, and its going to have more pay. $10 an hour. I left the company with $11.50 an hour 2 years ago, but if they rehire me, I'm hoping I get what it was when I left. But with $10 an hour, and 32hrs a week, I should be making
$1,155 a month (after taxes) or with $11.50 an hour, should be $1,325 after taxes.
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.
But, I'm hoping to get my old job back, and its going to have more pay. $10 an hour. I left the company with $11.50 an hour 2 years ago, but if they rehire me, I'm hoping I get what it was when I left. But with $10 an hour, and 32hrs a week, I should be making
$1,155 a month (after taxes) or with $11.50 an hour, should be $1,325 after taxes.
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.
10-14-10, 09:34 AM
#48
Do you even need a car? Or just want one? Especially a Lexus. I think you said you lived at home, can't use your parent's car? You just don't pay the price of the car, you've got reoccurring insurance payments, gas, and you said you wanted to mod it. I think you are biting off more than you can chew with a Lexus.
Pay off the debt ASAP and forget about a Lexus. Forget about buying a car if you can, if not, get a cheap used car until you get back on your feet.
Pay off the debt ASAP and forget about a Lexus. Forget about buying a car if you can, if not, get a cheap used car until you get back on your feet.
10-14-10, 02:38 PM
#49
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@ Dayrinni: Well, I am doing my best to pay off both of my credit cards. I have a balance of $1,375 in one credit card, and a balance of $3,379 on my other credit card; and both credit cards have an APR of 29.99%. So which one should I pay off first? Obviously the $3,379 one, right? But that **** is gonna be hard. I can try to pay off both cards in 12 months, but my payments will be a total of $451.92. My APR is 29.99% for now, but like I said, in February, my account is going to be reviewed, and hopefully my APR will drop. The only reason why its so high is cause of late payments, but in the contract, it says if i make 6 consecutive payments (ive made 10 so far, if not more), than they will lower it. They haven't lowered it yet, so I need to wait it out 4 months and see what happens.
And personally, $6,000 a month IS a lot of money. You kidding me? If I make $1,300 a month, I'm pretty comfortable living on my own, but I live with no rent. Lets say $2,200 for mortgage when I do move out (in a condo), $1,000 for car payments and insurance, throw in $100 for cell phone, $300 for gas every month, (credit cards will be paid off by then). So far thats $3,600 a month for expenses. Throw in $500 for Utilities. Throw in $500 a month for food. And thats $4,600. Covering all of my expenses, and still being able to save $1,000 a month, and be able to blow off $400 on whatever happens. But, I'm democratic, and pretty conservative too (not sure if im contradicting myself, but whatever). And basically, Taco Bells $2 meal deals are feeding this college student, and I don't always buy expensive ****, I just love to go out and eat.
I'm sure that I'll be able to get a used IS350 (or even better a used GS350!) for about $500-$8,00 a month, financed in either 5 years, or maybe the Lexus dealership will have a special or something. By the way, is it better to buy CPO or just a used Lexus?
@ Moses0324: Is your name really Moses? Cause thats what my name is! lol. Your $600 monthly payments, is it a lease or buy? How longs the term, and how much of a down payment did you put? I'm gonna be financially ready once both of my credit cards are paid off in 12 months. Afterwards, I'll get a Lexus, maybe not new, but I'll get one.
@ IXI187IXI & DigitalDon: I already own a car. A 1990 Lexus LS400, with 132,000 miles, and runs pretty good, I dig it, but I hate how its a V8, and its probably gonna be my first and last V8 for a while, until I have the money to really afford one, you know?
And personally, $6,000 a month IS a lot of money. You kidding me? If I make $1,300 a month, I'm pretty comfortable living on my own, but I live with no rent. Lets say $2,200 for mortgage when I do move out (in a condo), $1,000 for car payments and insurance, throw in $100 for cell phone, $300 for gas every month, (credit cards will be paid off by then). So far thats $3,600 a month for expenses. Throw in $500 for Utilities. Throw in $500 a month for food. And thats $4,600. Covering all of my expenses, and still being able to save $1,000 a month, and be able to blow off $400 on whatever happens. But, I'm democratic, and pretty conservative too (not sure if im contradicting myself, but whatever). And basically, Taco Bells $2 meal deals are feeding this college student, and I don't always buy expensive ****, I just love to go out and eat.
I'm sure that I'll be able to get a used IS350 (or even better a used GS350!) for about $500-$8,00 a month, financed in either 5 years, or maybe the Lexus dealership will have a special or something. By the way, is it better to buy CPO or just a used Lexus?
@ Moses0324: Is your name really Moses? Cause thats what my name is! lol. Your $600 monthly payments, is it a lease or buy? How longs the term, and how much of a down payment did you put? I'm gonna be financially ready once both of my credit cards are paid off in 12 months. Afterwards, I'll get a Lexus, maybe not new, but I'll get one.
@ IXI187IXI & DigitalDon: I already own a car. A 1990 Lexus LS400, with 132,000 miles, and runs pretty good, I dig it, but I hate how its a V8, and its probably gonna be my first and last V8 for a while, until I have the money to really afford one, you know?
10-14-10, 02:46 PM
#50
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Here's a question about the 3IS.
Will Lexus increase the Horsepower and Torque on both models?
I ask, because Infiniti increased the power for their G35/37 from 300 to 330. They even have a G25 with 220hp.
Also with BMW, they have their 335is with 320hp, and their 328i has 230hp.
^Both of them are obviously competing with the IS250/350, but their cars have more power and torque.
So, will Lexus increase the power of the 3IS also?
I'd love to see an IS250 pushing 230-250hp, and an IS350 pushing 320-340hp, both stock. That would be amazing. But will they/are they, gonna do it?
Will Lexus increase the Horsepower and Torque on both models?
I ask, because Infiniti increased the power for their G35/37 from 300 to 330. They even have a G25 with 220hp.
Also with BMW, they have their 335is with 320hp, and their 328i has 230hp.
^Both of them are obviously competing with the IS250/350, but their cars have more power and torque.
So, will Lexus increase the power of the 3IS also?
I'd love to see an IS250 pushing 230-250hp, and an IS350 pushing 320-340hp, both stock. That would be amazing. But will they/are they, gonna do it?
10-14-10, 03:52 PM
#53
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http://www.cars.com/for-sale/searchr...gId=2102&rd=40
^Right there is a list of IS350s within a 40 mile radius of where I live. There are 35 of them, 9 of which are CPO, miles range from 16,000-112,082 and the prices range from $15,995-$29,998.
Which would be the best deal? I want something with low miles. If I get a 4 year old car, the absolute max mileage I want is 60k, 70k would be pushing it, but I want it fairly low.
^Right there is a list of IS350s within a 40 mile radius of where I live. There are 35 of them, 9 of which are CPO, miles range from 16,000-112,082 and the prices range from $15,995-$29,998.
Which would be the best deal? I want something with low miles. If I get a 4 year old car, the absolute max mileage I want is 60k, 70k would be pushing it, but I want it fairly low.
10-14-10, 03:55 PM
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@ Dayrinni: Well, I am doing my best to pay off both of my credit cards. I have a balance of $1,375 in one credit card, and a balance of $3,379 on my other credit card; and both credit cards have an APR of 29.99%. So which one should I pay off first? Obviously the $3,379 one, right? But that **** is gonna be hard. I can try to pay off both cards in 12 months, but my payments will be a total of $451.92. My APR is 29.99% for now, but like I said, in February, my account is going to be reviewed, and hopefully my APR will drop. The only reason why its so high is cause of late payments, but in the contract, it says if i make 6 consecutive payments (ive made 10 so far, if not more), than they will lower it. They haven't lowered it yet, so I need to wait it out 4 months and see what happens.
And personally, $6,000 a month IS a lot of money. You kidding me? If I make $1,300 a month, I'm pretty comfortable living on my own, but I live with no rent. Lets say $2,200 for mortgage when I do move out (in a condo), $1,000 for car payments and insurance, throw in $100 for cell phone, $300 for gas every month, (credit cards will be paid off by then). So far thats $3,600 a month for expenses. Throw in $500 for Utilities. Throw in $500 a month for food. And thats $4,600. Covering all of my expenses, and still being able to save $1,000 a month, and be able to blow off $400 on whatever happens. But, I'm democratic, and pretty conservative too (not sure if im contradicting myself, but whatever). And basically, Taco Bells $2 meal deals are feeding this college student, and I don't always buy expensive ****, I just love to go out and eat.
I'm sure that I'll be able to get a used IS350 (or even better a used GS350!) for about $500-$8,00 a month, financed in either 5 years, or maybe the Lexus dealership will have a special or something. By the way, is it better to buy CPO or just a used Lexus?
And personally, $6,000 a month IS a lot of money. You kidding me? If I make $1,300 a month, I'm pretty comfortable living on my own, but I live with no rent. Lets say $2,200 for mortgage when I do move out (in a condo), $1,000 for car payments and insurance, throw in $100 for cell phone, $300 for gas every month, (credit cards will be paid off by then). So far thats $3,600 a month for expenses. Throw in $500 for Utilities. Throw in $500 a month for food. And thats $4,600. Covering all of my expenses, and still being able to save $1,000 a month, and be able to blow off $400 on whatever happens. But, I'm democratic, and pretty conservative too (not sure if im contradicting myself, but whatever). And basically, Taco Bells $2 meal deals are feeding this college student, and I don't always buy expensive ****, I just love to go out and eat.
I'm sure that I'll be able to get a used IS350 (or even better a used GS350!) for about $500-$8,00 a month, financed in either 5 years, or maybe the Lexus dealership will have a special or something. By the way, is it better to buy CPO or just a used Lexus?
I took my car in for its 25,000 service a few weeks ago...bang $450. Yeah, I could go to a different place but I like going to the dealership. Do you know how much stock tires cost on the IS? Around $300 a piece. You can save money by getting cheaper ones with research, etc.
How far do you plan to drive to work after you get out of school? I spend on average around $150 a month on gas. My car insurance is $100 a month. So right now I am spending 340 + 150 + 100 = 490 on my car alone. Factor in, say, $700 a year for service and other odd things for the car and that comes out to around $550 per month.
Hopefully, you are starting to see the trend here with how money comes in and goes right out. More money - more problems!
I do not know if your $2,200 per month mortgage includes taxes/PMI. My total payment is around $2,850 and of that, around $2,050 is the actual mortgage. The rest is the PMI and the taxes. We have a two income house so it isn't as bad as it sounds. So in reality I pay around $1400 a month for the house. I can't even begin imagine paying $2,200 on the house alone with my salary - which is the same as what you are hoping to get (and on the max end).
Regarding your question on what credit card to pay off first - I'd go with the one with $3,000 on it. This is because the interest will be more on there. Also, be careful on the other one because you are near the limit. I don't know what sort of things happen if you go above your limit due to the interest charges. Any one know?
I may seem like a hard *** - but I only want to help you. I want you to do GREAT things! I am playing devil's advocate.
Last edited by dayrinni; 10-14-10 at 03:57 PM. Reason: formatting went nutsss
10-14-10, 04:16 PM
#56
Honestly its a noble cause. Living beyond one's means and financial irresponsibility is the primary reason this country has turned into what is, never hurts to try to save a lost soul. The road to hell is paved with good intentions
10-14-10, 08:17 PM
#57
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I am sorry to say this, but your math is flawed. If you are making $6,000 before tax, you will be bringing home around $4,000 after taxes. So your estimates are incorrect. Things always find a way to suck more money out of you. For example, we moved into our new house in June. I spent $500, thats right $500, on watering equipment for the lawn. I have to get garage door openers...another $600-800. A water softener...$1,400-$1,700.
I took my car in for its 25,000 service a few weeks ago...bang $450. Yeah, I could go to a different place but I like going to the dealership. Do you know how much stock tires cost on the IS? Around $300 a piece. You can save money by getting cheaper ones with research, etc.
How far do you plan to drive to work after you get out of school? I spend on average around $150 a month on gas. My car insurance is $100 a month. So right now I am spending 340 + 150 + 100 = 490 on my car alone. Factor in, say, $700 a year for service and other odd things for the car and that comes out to around $550 per month.
Hopefully, you are starting to see the trend here with how money comes in and goes right out. More money - more problems!
I do not know if your $2,200 per month mortgage includes taxes/PMI. My total payment is around $2,850 and of that, around $2,050 is the actual mortgage. The rest is the PMI and the taxes. We have a two income house so it isn't as bad as it sounds. So in reality I pay around $1400 a month for the house. I can't even begin imagine paying $2,200 on the house alone with my salary - which is the same as what you are hoping to get (and on the max end).
Regarding your question on what credit card to pay off first - I'd go with the one with $3,000 on it. This is because the interest will be more on there. Also, be careful on the other one because you are near the limit. I don't know what sort of things happen if you go above your limit due to the interest charges. Any one know?
I may seem like a hard *** - but I only want to help you. I want you to do GREAT things! I am playing devil's advocate.
I took my car in for its 25,000 service a few weeks ago...bang $450. Yeah, I could go to a different place but I like going to the dealership. Do you know how much stock tires cost on the IS? Around $300 a piece. You can save money by getting cheaper ones with research, etc.
How far do you plan to drive to work after you get out of school? I spend on average around $150 a month on gas. My car insurance is $100 a month. So right now I am spending 340 + 150 + 100 = 490 on my car alone. Factor in, say, $700 a year for service and other odd things for the car and that comes out to around $550 per month.
Hopefully, you are starting to see the trend here with how money comes in and goes right out. More money - more problems!
I do not know if your $2,200 per month mortgage includes taxes/PMI. My total payment is around $2,850 and of that, around $2,050 is the actual mortgage. The rest is the PMI and the taxes. We have a two income house so it isn't as bad as it sounds. So in reality I pay around $1400 a month for the house. I can't even begin imagine paying $2,200 on the house alone with my salary - which is the same as what you are hoping to get (and on the max end).
Regarding your question on what credit card to pay off first - I'd go with the one with $3,000 on it. This is because the interest will be more on there. Also, be careful on the other one because you are near the limit. I don't know what sort of things happen if you go above your limit due to the interest charges. Any one know?
I may seem like a hard *** - but I only want to help you. I want you to do GREAT things! I am playing devil's advocate.
I live in Pasadena, and I want to become a Firefighter in either the city of Glendale, Burbank, or Los Angeles. That means my daily commute for just work will be between 15-25 miles a day. Firefighters work at most 10 days a month, which means 150-250 miles a month, just for work, and lets just Triple that for other commutes, which becomes 450-750 miles a month; and with the IS350 getting an average of 375 miles per tank, I should be spending no more than $150 a month on gas. Lets say that insurance is $100 a month also, but my car payments are $500. That's $750.
So, with a monthly income of $5,200 minus $750 is $4,450. Lets say Mortgage is $2,200, and Utilities becomes $3,000. Thats $1,450 left.
Food per month lets say $500. $950 left, which can be used as "just in case money".
Plus, my girlfriend wants to become a Pharmacist, meaning that her income is gonna match mine, if not more. So, if me and her have a combined income of $12,000 a month, thats gonna be pretty good to afford a lot of things.
Plus, I plan to become a Fire Chief after serving as a Firefighter for 15 years. So when I'm around 40 years old, I alone will make $10-$12k a month, but could be more in the future, due to inflation, you know?
As for credit cards, yeah, you're right, I should pay off the one with the $3k balance. I think if I pay that off in 9 months, while the other one off in 12-14 months, it should be great. I say 14 months, cause by then, it'll be December 2011, and being debt free will be a present for myself
Btw, I appreciate the hard ***-ness, it helps with discipline kind of stuff.
10-14-10, 10:36 PM
#58
Here's a question about the 3IS.
Will Lexus increase the Horsepower and Torque on both models?
I ask, because Infiniti increased the power for their G35/37 from 300 to 330. They even have a G25 with 220hp.
Also with BMW, they have their 335is with 320hp, and their 328i has 230hp.
^Both of them are obviously competing with the IS250/350, but their cars have more power and torque.
So, will Lexus increase the power of the 3IS also?
I'd love to see an IS250 pushing 230-250hp, and an IS350 pushing 320-340hp, both stock. That would be amazing. But will they/are they, gonna do it?
Will Lexus increase the Horsepower and Torque on both models?
I ask, because Infiniti increased the power for their G35/37 from 300 to 330. They even have a G25 with 220hp.
Also with BMW, they have their 335is with 320hp, and their 328i has 230hp.
^Both of them are obviously competing with the IS250/350, but their cars have more power and torque.
So, will Lexus increase the power of the 3IS also?
I'd love to see an IS250 pushing 230-250hp, and an IS350 pushing 320-340hp, both stock. That would be amazing. But will they/are they, gonna do it?
That's a pretty poor trade IMHO and hopefully not what Lexus would do in the 3IS.
10-14-10, 11:36 PM
#59
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Ok, well, with every job that I've had, I get taxed anywhere between 10-15%. Right now, I'm being taxed around 10%. When I get my career going in a few years, the pay will be better. Currently, Firefighters in Southern California, get paid around $5,500-$6,000 the first year, because they are on probation. After the first year, the pay increases to anywhere between $6,500-$7,500 a month. Lets just say that I'm gonna be making $6,500 a month, and lets just say I'm gonna be taxed 20%, I should have a monthly income of $5,200, after taxes.
I live in Pasadena, and I want to become a Firefighter in either the city of Glendale, Burbank, or Los Angeles. That means my daily commute for just work will be between 15-25 miles a day. Firefighters work at most 10 days a month, which means 150-250 miles a month, just for work, and lets just Triple that for other commutes, which becomes 450-750 miles a month; and with the IS350 getting an average of 375 miles per tank, I should be spending no more than $150 a month on gas. Lets say that insurance is $100 a month also, but my car payments are $500. That's $750.
So, with a monthly income of $5,200 minus $750 is $4,450. Lets say Mortgage is $2,200, and Utilities becomes $3,000. Thats $1,450 left.
Food per month lets say $500. $950 left, which can be used as "just in case money".
Plus, my girlfriend wants to become a Pharmacist, meaning that her income is gonna match mine, if not more. So, if me and her have a combined income of $12,000 a month, thats gonna be pretty good to afford a lot of things.
Plus, I plan to become a Fire Chief after serving as a Firefighter for 15 years. So when I'm around 40 years old, I alone will make $10-$12k a month, but could be more in the future, due to inflation, you know?
As for credit cards, yeah, you're right, I should pay off the one with the $3k balance. I think if I pay that off in 9 months, while the other one off in 12-14 months, it should be great. I say 14 months, cause by then, it'll be December 2011, and being debt free will be a present for myself
Btw, I appreciate the hard ***-ness, it helps with discipline kind of stuff.
I live in Pasadena, and I want to become a Firefighter in either the city of Glendale, Burbank, or Los Angeles. That means my daily commute for just work will be between 15-25 miles a day. Firefighters work at most 10 days a month, which means 150-250 miles a month, just for work, and lets just Triple that for other commutes, which becomes 450-750 miles a month; and with the IS350 getting an average of 375 miles per tank, I should be spending no more than $150 a month on gas. Lets say that insurance is $100 a month also, but my car payments are $500. That's $750.
So, with a monthly income of $5,200 minus $750 is $4,450. Lets say Mortgage is $2,200, and Utilities becomes $3,000. Thats $1,450 left.
Food per month lets say $500. $950 left, which can be used as "just in case money".
Plus, my girlfriend wants to become a Pharmacist, meaning that her income is gonna match mine, if not more. So, if me and her have a combined income of $12,000 a month, thats gonna be pretty good to afford a lot of things.
Plus, I plan to become a Fire Chief after serving as a Firefighter for 15 years. So when I'm around 40 years old, I alone will make $10-$12k a month, but could be more in the future, due to inflation, you know?
As for credit cards, yeah, you're right, I should pay off the one with the $3k balance. I think if I pay that off in 9 months, while the other one off in 12-14 months, it should be great. I say 14 months, cause by then, it'll be December 2011, and being debt free will be a present for myself
Btw, I appreciate the hard ***-ness, it helps with discipline kind of stuff.
You're forgetting to include Medicare, Social Security, State Tax, and Disability (CASDI)... Not to mention, I assume that you would want to contribute to a 401K program and will have deductions for your responsible portion of health care. With a $72K gross, you should realistically only be expecting to net ~45K annually. Monthly, that works out to $3,750. That is NOT a lot of money.
Furthermore, it seems like you're banking on a lot of "what if's" to fall into place in order to rectify your current financial situation and/or justify your intended purchase. Trust me, life does not go as planned... ever. Save your money, go back to school, and get a degree.
Last edited by Chueezie; 10-14-10 at 11:51 PM.
10-15-10, 12:03 AM
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You're forgetting to include Medicare, Social Security, State Tax, and Disability (CASDI)... Not to mention, I assume that you would want to contribute to a 401K program and will have deductions for your responsible portion of health care. With a $72K gross, you should realistically only be expecting to net ~45K annually. Monthly, that works out to $3,750. That is NOT a lot of money.
Furthermore, it seems like you're banking on a lot of "what if's" to fall into place in order to rectify your current financial situation and/or justify your intended purchase. Trust me, life does not go as planned... ever. Save your money, go back to school, and get a degree.
Furthermore, it seems like you're banking on a lot of "what if's" to fall into place in order to rectify your current financial situation and/or justify your intended purchase. Trust me, life does not go as planned... ever. Save your money, go back to school, and get a degree.
Also, if I'm making $72k a year, my actual pay is going to be $45k? I don't get it, why so low?
And for the record, I never dropped out of school, I'm still going. Here is my ed plan, just for the hell of it:
Taking an EMT class, this semester.
Once I finish that class, I'm going to take 4 more Fire classes to prepare me for the Fire Academy, and while taking the Fire classes, I'm also going to finish my General Ed.
In Fall, I'm going to be enrolled in a fire Academy, once I pass, I'm going to have to volunteer a year at a Fire Department.
During my voluntary year at a Fire Department, I'm going to finish taking my Fire classes and get an AS in Fire Technology, and also finish my General Ed classes.
After my 1 year of volunteering is over (as well as having an AS in Fire Tech and finished with GEs), I'm going to get a job as a Firefighter and transfer to CSUN (California State University of Northridge) for a BS in Sociology.
As a Firefighter, first year is probation pay of $5,500-$6,000 a month. Afterwards, its a pay between $6,000-$7,500. I'm hoping to be 25 (no more than 26), when I become a Firefighter. After serving for 10 years, I can apply/take an exam to become a Fire Captain. Once I serve as a Fire Captain for 5 years, I will take another exam to become a Fire Chief. And Fire Chiefs make between $10-$12k a month. So please don't tell me that an annual gross of $120k is actually $75,000.
I don't get what you mean with Gross and Net. Why would me making $72,000 a year translate to $45,000? Are you saying I'm going to be taxed over 30% for my income?
I don't get it.
