[Joseph77]

I am currently in a transition stage from college to the work force, and my old GTI is about to poop out on me. So naturally I want to get a brand new 2002 Gti 1.8T cause they have all the goods. But I am not really sure If I will be able to afford it? It would be cool to get some insight into peoples salaries so that I could judge wether or not I can realistically afford one? I know that it is politically incorrect to talk about sallaries but non of us really know each other in person any ways. Thanx for the input.
Ohh I will probably be making about $13 an hour to start untill I can find a better job. I figured that I could probably afford the payments, but I also live in a really low rent area so its a cheaper living expense than most.

 

[weissguy]

Re: How much $ do you make? (Joseph77)

You're insane. Buy a new car when you know you can afford it. You do the math with your income and costs of living. $13/hr is way too low for a brand new car, unless you get it at Toys 'R Us.

 

[Gongshow]

Re: How much $ do you make? (weissguy)

I agree.. weissguy.. $13/hour ain't gonna cut it. GTI's aren't cheap under any situation, and if you did some how qualify for financing you'd be living on canned beans to drive it. I make just under $50,000 a year. Keep in mind with the 1.8T you'll also need to feed her Premium fuel for sure and should really use synthetic oil. I'm finding out the costs do add up to maintain a car like that even when it's new. Have patience.. I feel your pain, I almost couldn't wait to get my jetta.. but It feels even better knowing the thing won't screw you over financially.
Cheers.
The Gong http://****************.com/smile/emthup.gif

 

[vincenthotrod]

Re: How much $ do you make? (weissguy)

Grad School, No Income and driving a modded 01 Jetta GLX. But the moment I step out of this school, it's loan payments here I come

 

[vincenthotrod]

Re: How much $ do you make? (Joseph77)

Let's see
40 Hours a week at 13 an hour = 520 a Week, That's 2000 a Month
Big Brother Takes 500
You have 1500
Monthly Car Payment = 400
So you have 1100 to divide between Gas, Tolls, Parking, Food and Rent. Actually you COULD cancel the rent since you do have a car

. I would do it if I know my current income were stable, or if I were making more money in the near future (hey, credit is what makes this world go *blingbling*!)

 

[vwsteve]

Re: How much $ do you make? (vincenthotrod)

I don't think your going to make it on $13/hr. If I were you I would wait until the right time to buy a brand new car. It's really not worth it to strap yourself down financially so that you can have the car of your choice under your ass when you really can't afford the luxury that you just spoiled yourself with......get yourself some more cash flow coming in and then splurge on the new Dub....I pull in a salary in the 50's and still find cash to be an issue with regard to purchasing new cars.....so be careful with this decision....

 

[MRP2001GTi]

Re: How much $ do you make? (vincenthotrod)

Don't forget the dreaded insurance at about $130 a month for someone that young in a GTi. Fuel cost will be about $60 a month.

 

[steez]

Re: How much $ do you make? (MRP2001GTi)

$13 will cut it IF you dont pay rent. Youll have plenty of money to invest/save... If you live with your parents or something youll be ok. Youll even have money left over for mods...
Some people dont like young`ins owning cars.

 

[vincenthotrod]

Re: How much $ do you make? (steez)

quote:[HR][/HR]$13 will cut it IF you dont pay rent. Youll have plenty of money to invest/save... If you live with your parents or something youll be ok. Youll even have money left over for mods...
Some people dont like young`ins owning cars. [HR][/HR]​

Gotta second u there Steez
Forgot about insurance in the above post, but ya, deduct 100 from there. You still have 1000 a month for parking, tolls, gas, food and rent.
If you have really cheap rent or live with your parents, then you should be fine (don't expect to have a huge savings account though). But if you pay expensive rent, then be prepared to take on a second job

 

[hinshu]

Re: How much $ do you make? (vincenthotrod)

i was making $19/hr before, got laid off after 9/11 and finally got a job .. yet im making $8/hr. I pay rent, gas, food, car payment, insurance, student loan, and another loan.. of course im a lil behind after being laid off for 2months.. but $8/hr makes all my payments.... just

isnt the way i like it

and it sucks

 

[GMoney]

quote:[HR][/HR]You do the math with your income and costs of living.[HR][/HR]​

Just sit down and figure it out. Whether someone
here can get by on 20k/50k/80k or if Mom & Pop
got them their Dubs has no bearing whatsoever
on what you're going to be comfortable with.
I understand you're trying to formulate some sort
of barometer to go off of, but only YOU know what
is going to work for YOU to get by...

 

[landrumdh]

Re: How much $ do you make? (GMoney)

if you will only have to pay for the car it will cut it.
I have a nice internship doing > 10/hr work about 15hr a week and I'm in school full time. I live at home and commute to school. I'm able to easly make my car payments but I doubt I could pull rent and car stuff if I did both togeather.
You should really look at a used car and find your living quarters first then deal with a car.
[Modified by landrumdh, 5:19 PM 12-1-2001]


[Modified by landrumdh, 5:25 PM 12-1-2001]

 

[Jman5000]

Re: How much $ do you make? (Joseph77)

You need a used Mk3 2.0.
Cheap to insure, fuel, and get.
Put your money towards getting a decent place, some semi-professional clothes, maybe some furniture...build a life, then get a car.
If you shoehorn this car into your life, you better pray hard every day that you don't have to deal with...a rent increase, an insurance deductable, utilities going up, a suit you have to buy to get a job, and any of the 1001 things that will suck up ANY spare cash you have every month. Ever hear the phrase "if it ain't something, it's something else..." It's damn true.
We've covered rent, car, insurance, gas, etc...would you like to have a social life? Dates cost money.
Your priorities are outta whack. Take it from those of us who've been there and done that already.

 

[landrumdh]

Re: How much $ do you make? (Jman5000)

quote:[HR][/HR]You need a used Mk3 2.0.
Cheap to insure, fuel, and get.
Put your money towards getting a decent place, some semi-professional clothes, maybe some furniture...build a life, then get a car.
If you shoehorn this car into your life, you better pray hard every day that you don't have to deal with...a rent increase, an insurance deductable, utilities going up, a suit you have to buy to get a job, and any of the 1001 things that will suck up ANY spare cash you have every month. Ever hear the phrase "if it ain't something, it's something else..." It's damn true.
We've covered rent, car, insurance, gas, etc...would you like to have a social life? Dates cost money.
Your priorities are outta whack. Take it from those of us who've been there and done that already.[HR][/HR]​

That's what I'd suggest. If you don't know you can pull it and it's ify it's not worth the risk.

 

[Jman5000]

Re: How much $ do you make? (Jman5000)

Forgot to mention...you need to live life for a while on your own w/that wage and see how far it'll really take you.
I remember when I was 22, in my own apartment talking to the 'rents about insurance. They were about to cut me free...we had the same talk about...
$12 (in my case) an hour at $40 hours...OK sonny, that's about $1300 post tax, what's your rent portion...$250...and utilities are $45...and food is $200...and gas is $30...you still have $600-$700 left.
Yeeeeah. On paper. You'll need stuff (and want stuff) and it'll suck you dry.

 

[kittroid]

Re: How much $ do you make? (Joseph77)

It's not just how much you've got, but how you decide to/are forced to
manage it.
Sit down with pen and paper (or Excel

, and figure out a budget.
In my experience, affording a lifestyle and being comfortable with it
are two different things. And, let's face it, having a brand new car
out of school is definitely a "lifestyle choice".
A $400+ car payment is going to eat about 1/4 of your montly gross
income at $13/hr (assuming 40hrs/wk).
Uncle Sam and the gang will take you for another 20-25% or so,
depending on what your State taxation is like - call it another $500
out of your monthly gross. Already, you're down to $1100 leftover,
and you're just paying for your car. Insurance - another $100-$150,
possibly MUCH higher, depending on you, and...
<at ~$1000>
You said low rent - is $200/mo. close ? If so, you're extremly fortunate,
IMO.
<$800>
You've always got gas to pay for.... but that's probably less than
$100/mo. depending on how and how much you drive.
<$700>
Other stuff that might factor in: phone bill, internet service, cable TV,
renters insurance, health insurance. (this happy bunch runs me another
$200/mo)
<$500>
Then you've got any utility bills you need to pay - since it's winter, this
could be high, depending on many factors. (for me, about $50/mo, but
I try hard to keep this down)
<$450>
If you're lucky, you don't owe on any Student loans, or you're able to
get payments deferred.
So, if you can save/eat/clothe/entertain yourself for $450/mo., then you're
set !!
If not, I'd reconsider, unless you want to feel like you are simply a router for
other people's money

It's nice to have a little something left when you put
down the flaming pen you write out your bills with...
Just my $0.02/worth. Good luck, whatever you decide.

 

[REDMR2T]

Re: How much $ do you make? (Joseph77)

There used to be a formula, maybe a banker can pipe up..
Basically you afford a car that is half of one years salary and still survive. so 13/hr is 26K a year. so you should be able to buy a 13K dollar VW. Looks like you will be getting a used VR6 GTI. congratulations on your new purchase!
13K at 7-9% interest*used* is almost a 300/per month car payment(prolly about 280). If you could find a zero percent interest on a 15-16K new car you may actually be money ahead. Good luck my friend.

 

[Bundaho]

Re: How much $ do you make? (REDMR2T)

Remember its not how much you make.......its how much you spend.

 

[USER]

Re: How much $ do you make? (Joseph77)

As a thumb of rule, I'd say to not pay more than half of what you earn yearly.
That would be around 13000$ in your case, txs in. That would be a Focus ZX3, Protegé LX or somethign alike. If you can live with the styling, you should be satisfied with the ZX3.

 

[pedro_sport]

Re: How much $ do you make? (USER)

sigh...
Finance a $22k car for 4 years. It will cost you about $5500-6000 a year And that is only 1/4th of your yearly income
You can EASILY afford a car. Dont let these overly anal over 50 year old grandpas tell you want to do. They are mad because when they were 20 they drove pintos. its the natural *hater* in everyone i guess.
The best part? You graduated you have a job and a beautiful car. Having a smile on your face. Sometimes.. that IS priceless.