Paycheck on a car?
I just started as an ib analyst in NY, and this paycheck looks nice. What also look nice is mercedes-benz amg gt 63s. Do you think I would be able to finance that with monthly statements?
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No way you’re an actual banker and this dumb. If this comment gets removed for being rude then fuck off Patrick (ily tho).
First off, that’s a $100k+ car. You won’t even make that much off your base post-tax. Secondly, where the fuck are you driving in Manhattan? Thirdly (is this even a word), you’ll be paying out the ass just to park. Not to mention insurance which will be a fuck ton for someone your age driving that type of car.
Lol
You could probably finance a $20k car right now. the payment on this will be north of $2k, maybe even more with interest rates, so I'd say you'd need to make $500k+ to get approved for this, or buy in cash. even then that's a massive chunk of your take-home pay.
Even before you start thinking about buying a car... ask yourself what are the costs of car ownership in NYC. On top of all the crap that goes into a car, are you willing to pay an average of $550 a month for a garage spot assuming your living in NYC?
Never happened.
I see you already posted this twice now within 24 hours:
https://www.wallstreetoasis.com/forum/off-topic/luxury
I'll bite, theres two sides to this. One side is to better manage your money and be conservative and another side is you only live once and you should enjoy your life. Considering you posted this same topic about this same car twice within 24 hours feels like you really want the car. If so, then just buy it. Why are you looking for validation from a bunch of strangers on your purchasing decisions? One of my friends bought a Mclaren 720s, probably equal to 1.5x his annual pre-tax salary, but it makes him happy so who am I to judge.
If you just started then I'm guessing you're a NYC noob.
Paying for a parking space in NYC is probably $500+ a month. I would not want to add that on top of a car note.
What is your rent?
I was coming here expecting to say that even adjusted for inflation, back in the day I dropped a paycheck on a used toy car, it's fine, but this is completely irrational. (old Miatas are cheap, I bought one for literally one paycheck once.)
I dropped most of a (post-tax) bonus check on a new Miata a couple years ago. That's the most I've ever spent on a car. I literally paid cash. (ok, CC for the points) This is irrational.
OP: You do realize how miserable driving in Manhattan is, right? I live just outside the city and only use the car for driving in the other direction. You are literally asking for a near-200mph car in a place where a consistent 30mph is considered 'really moving.' The city is also really rough on cars, either you're paying for a garage (~$500/mo) on top of the payment or you're spending hours a week looking for parking, moving for ASP and dealing with your neighbors parallel parking by braille.
To stretch obscenely to make this happen makes zero sense financially either. You're young, you have the most opportunity to let this money compound for retirement.
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