Appropriate Car at Junior Level

The MD car discussion gave me an interesting thought. What do y'all think is an appropriate car at the Analyst, Associate, VP level? Better put, what's the most flash you could get away with without looking like a dbag? I bought a new Lexus GS when I was an associate and got a little shit for it. I thought it was a very reasonable purchase considering my comp but wanted to hear everyone's thoughts. I realize this is more tailored to guys living in commuter cities like Houston, LA, Atlanta, Charlotte, Dallas

Comments (47)

 
  • Associate 3 in IB - Gen
Nov 19, 2020 - 2:41pm

Just buy a very normal car for your work commute and buy whatever else you feel you can reasonably afford and makes you happy for your weekend car.  Plenty of bankers have flash cars that they don't tell their colleagues about.  If you're into cars as your main hobby, you'll spend more on it than someone who's into taking multiple vacations a year or likes to buy a $20k watch every year.

 
  • Analyst 2 in IB - Ind
Nov 19, 2020 - 6:09pm

TBH no one really cares. There are fewer folks than you'd think who can tell a M3 from a 328i. Also who TF shits on a practical Lexus GS?

If you're a car guy, you're not buying a car just to impress others and I've found people who do find out what you drive tend to react positively to that. I drive a F80 M3. From the few people who even know about it, I've only gotten positive comments since cars are my main hobby and I can talk about them nonstop. I wouldn't care about what others thought anyway though, I love cars.

 
  • Analyst 2 in IB - Ind
Nov 19, 2020 - 6:14pm

Plenty of other juniors in the office and building with cool stuff as well. 911 S, C63S, X3M, multiple M2/M3/M4s. And then a lot of other juniors driving around in A4's, C300's, and 3-series. Also surprisingly few trucks given this is Texas.

 
  • Analyst 1 in IB-M&A
Nov 20, 2020 - 11:47am

2nd year analyst here. Bought a Used grand Cherokee during quarantine - analysts in my group drive similar cars. MD cars range from Hyundai mini van (I shit you not) to $80k+ sports cars

 
  • Intern in IB-M&A
Nov 20, 2020 - 11:46pm

dumb question but never owned a car before, am an incoming intern at a high-paying group for 2021, and if I were to convert, I was thinking about spending my signing bonus (~25k plus looking at about 7k of savings from SA) on a car and was thinking about either the Mustang or the BMW 435i Coupe or a C300 or something (all second-hand of course). Are those cars fine for a first-year analyst?

 
  • Analyst 1 in IB-M&A
Nov 21, 2020 - 8:49am

I think it really depends on where you're working. If you're in the Bay Area that might be considered too much. All that put aside, figure out which type of car you enjoy, those 3 have nothing in common. The bmw is the more playful/tricky with the right power and steering capabilities. The merc is classier, probably more expensive, but is overbought in the US. Can't speak on the Mustang. 

 
  • Intern in IB - Gen
Nov 21, 2020 - 12:17am

Thinking of getting the corvette 2020, ~$60K, thoughts? I'll be in SF. Is it too much? Looks like a ferrari.

 
  • Analyst 3+ in HF - EquityHedge
Nov 21, 2020 - 3:56am

I live in SF, the only reasons to own a car are 1) you have to regularly commute to/from east or south bay 2) you enjoy providing entertainment to the local homeless population (and wasting hundreds+ dollars on repairs) by giving them something to break-in to. Otherwise, SF is a terrible city for driving/parking and I would strongly recommend not owning a car here

 
  • Analyst 3+ in RE - Comm
Nov 23, 2020 - 12:44am

If you live in SF, you more than likely won't need a car. You'd probably need a car if you chose to live in the east bay, but you probably won't commute in with that so I bet it'd sit parked more often than you think. Plus with all the bad drivers in SF it might get scratched up too easily.

 
  • Business School in CorpDev
Nov 21, 2020 - 1:02pm

Currently a T10 MBA recruiting for IB. Have had my Tesla S 100D for a couple of years. Is that going to be a problem as a summer associate or full time?

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