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Around the Internet => Antimustachian Wall of Shame and Comedy => Topic started by: obstinate on May 18, 2015, 05:15:58 PM

Title: 36k income driving 30k miles per year wonders if they should get a new car
Post by: obstinate on May 18, 2015, 05:15:58 PM

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.

Title: Re: 36k income driving 30k miles per year wonders if they should get a new car
Post by: r3dt4rget on May 19, 2015, 11:41:15 AM

Quote from: obstinate on May 18, 2015, 05:15:58 PM

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.