08 ISF and I’m 48. Did well during the housing bubble {got out just in time}. Now I’m a part owner of a home healthcare business. My first car was a V8 Vega, anybody remember those?
It still amazes me I survived it.

 

54, next week. '11

 

forget the car payments, theres no way someone in their early 20s has their OWN insurance policy and is able to make those payments themselves.

for ****s and giggles, i got a quote for an IS-F.....................1330/mo! clean record! 26/m single. (financial district of miami zip 33131).

 

Why cant anyone understand that there are thousands of young people the united states that are properly business educated? It takes sacrifices, but if you have the right mindset and discipline, the margins will come.

 

explain to me how someone that 21-24 yrs old, and properly disciplined, could justifiably "afford" to spend $2,000 a month on a car payment + insurance payment just for a mode of transportation? thats $24,000 of your take home going straight to the fixed expense of one vehicle. i dont care if you get an ibanking gig straight out of school that puts you at close to the 100k mark with bonus...thats still over 1/4th of your take home going toward a car.

 

You can justifiably afford to spend on the car if you make the income and are willing to sacrifice. I purchased my isf when i was 18 and it was a huge mistake. Im 20 now and very fortunate to be in a situation where i can subsidize my toys without issue. I made huge sacrifices, took risks, and was able to capitalize on situations with the guidance of my parents. Without their guidance i would either be bankrupt or have 2 WSOP bracelets.

With discipline and sacrifice, it can be done.

 

I am 23 and my car is under my own name. I pay $1425/ Month for my car ('10 ISF) and insurance with taxes (I live in Ontario, Canada so we get hooped for 13% tax lol). I still live at home which makes it easier to live but what I don't pay for a mortgage payment goes to investments and mutual funds. It is completetly possible to own a nice car at a young age. I graduated college with no debt and got a job straight out of school, and now 2 years in I am a manger at the company I work for. I got the ISF as a present to myself for the promotion lol.

 

i respect your hard work. but you are proving the point i am trying to make....you have no other major overhead besides your car. no rent, no mortgage.

 

im 33. currently have an 08 isf and 65 sting ray. i recently sold both my is300's, including my turbo is300 that was very well equipped.

hard work pays off. its all about prioritizing. any locals can tell you im far from a rich kid. i come from blue collar, and i am blue collar to the core. my cars might say opposite. but i work my *** off to support my wife and son and keep my hobbies in check.

and i love the is-f. my favorite car to date.

 

I'm in the same boat as Jchong, I'm 23. I live at home, but I contribute to mortgage, pay my yearly insurance IN FULL (instead of monthly) for TWO cars, and I'm still maxing out my 401k through my current job. Not to mention my commuting expenses are nearly $300/month. What's that per year... over $3k? I can afford the car because I'm smart with my money and keep track of every single dollar that comes in and goes out in a spreadsheet.

There's really no need, ThermonMer, to judge young successful people.

And $2k per month? Who the hell pays that much for any car unless it's a Porsche or higher? My monthly payments are nowhere near that.

Sure, I may not have a mortgage or rent right now in my life, but that won't the case in a few years. And sure, it would have been wiser to purchase an apartment or home, but my lifelong goal has been to own a nice luxury car... so I'm just doing it the other way around, car first then an apt/house.

 

not judging...im young (26) and successful myself.

as for 2k/mo...well...insurance for a clean record at the age of 26 in my area is 1300/mo, plus car payments...thats well over 2k there. just sayin. i guess if you guys are paying much much less than that for insurance, then thats the deal breaker right there.

 

OT, but did you shop around for better insurance rates? Or are they just high where you live? I'm 23 with an IS350 and a speeding ticket two years ago still on my record. I pay $1,300 per year, with 300k/500k coverage and a $500 deductible.

 

you guys are on crack.
24, own car, own place, own full coverage insurance, own portfolio.
I like george bush and the 5 buck box at Taco Bell.

 

im paying $1,250/6 mo. 500k/1MM for an is250 with geico. no other insurance company could come close to touching that....its florida, its miami, its the miami financial district, its uninsured drivers, illegal immigrants, senior citizens, high crime, etc...the perfect storm.

i also came from a land (nyc) where the average 2 bedroom rental apartment is $5,000/mo. so to me, having high insurance or high car payments and still able to save is just mind boggling....i need to move to middle america.

 

I don't have an F yet, but will pick one up probably during the December to Remember event. I'm 25 graduated from college with zero debt, have a great career with an excellent company. I do have a good amount of cash saved up in the bank but will not touch it to buy a car. Instead I'm going to trade my 04 IS300 in which I will admit my parents got me, I sold one of my bikes which will go towards the F as well, plus I'll probably throw in some of my bonus so that I can put a fairly large downpayment on one. Now I will not be buying new but rather a CPO 08/09. I also live on my own, well sort of have a couple of friends living with me and we rent a very nice newer house which was cheaper than most 3 bed apartments with two car garages. With all that said, I wish I could do 1k plus payments a month but I'll be trying to get my payments to under 375 a month so that it really doesn't feel like a huge burden or anything.