Author Topic: 36k income driving 30k miles per year wonders if they should get a new car  (Read 1440 times)

obstinate

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http://www.reddit.com/r/personalfinance/comments/36bvne/no_debt_of_any_kind_3000_in_checking_account_36k/

/r/personalfinance does it again. I know it's low-hanging fruit, but you have to shake your head at people suggesting that a new car is a good option for this person.

r3dt4rget

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http://www.reddit.com/r/personalfinance/comments/36bvne/no_debt_of_any_kind_3000_in_checking_account_36k/

/r/personalfinance does it again. I know it's low-hanging fruit, but you have to shake your head at people suggesting that a new car is a good option for this person.
At least the guy has no debt and more than a months expenses in his checking account. That's way above average. A new car is a poor value overall, but as far as his financial situation it seems any new car costs are offset by extremely low rent. You can get away with a long commute and higher car costs if you pay 1/3 the housing costs of most people. I'm more interest in what his saving looks like than the car situation to be able to give advice.