@renegadesteve said:
I wanna buy a 2014 Nissan GTR Black Editionat $111,510 but here's the problem I only have $1,589.65 in the bank. Yeah I know I'm ways away from getting my dream car, I need some advice or suggestions on how I could accumulate more income.
Now I know what your gonna say get a job and I did but everywhere I apply too always end up giving me part time work with 4-7 hours or less work with very minimal pay or a little over $10.25. Also I'm a part time student studying Information systems management.
Been thinking about getting into programming and or coding as a freelancer to make a couple bucks.
Any suggestions or advice would much be appreciated. Or should I just give of owning my dream car??
It's a pipe dream for you, my friend. You couldn't afford the insurance on a GT-R (depending on your age, between $3-4k a year), let alone the car payments. I have a household income close to the MSRP of a new GT-R track edition (around $115K before taxes) and I'm not even remotely close to being able to afford one. Hell, a used 2011 or 2013 for around $65-75k is practically out of reach for me.
Right now, you'd have a hard time affording a late model, used, WRX STi or Lancer Evo.
Let me break this down for you...
Assuming 6% sales tax, that $111,510 ends up being $118,200. Even if you managed to put together $30,000 cash for a down payment, you're looking at financing $88,200. Assuming you have pristine credit, which you likely do not if you're seriously contemplating how you can buy this car, you're probably looking at 4% minimum financing for a car like that (they don't give you 0% interest deals on cars like the GT-R). You're looking at a car payment of $1,790 for 60 months....or about $700 more than my monthly payment on a 15-year mortgage. That doesn't even factor in insurance, which will be another $300 - $380 a month. All told, you're spending nearly $2200 a month for a car....if you can manage to put $30,000 down payment.
Right now, you don't have enough cash to make one monthly payment, let alone 60.
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