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How many months/years of gross income?

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Old 01-13-2008, 01:40 PM
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When I graduated from college I was making 55k and bought a S2000 with hardtop and extended warranty for something like 37k. I was paying some real low rent and was fine. So that's what 8 months of gross.

At this point, 9 years later I'm married, have a kid and large mortgage. So now less then 3 months salary on my evo seems like too much. It might have to do with the fact I spent more then my year of monthly payments last year on track days, brake pads, tires, etc. I effectively more then doubled the cost of my car by doing that! So I could of got a Z06, but not done track days....not worth it to me. I guess it all depends on your priorities.

edit: I guess as you make more you should spend less of your income on a car, but honestly if all of sudden I was making double what I make now, but had the same wife, kid and mortgage I could have a car that was 3X as expensive as my evo, do the same number of track days and have more discretionary income. The problem is when people make more money they usually by a bigger house, other toys etc.
Old 01-13-2008, 01:45 PM
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[QUOTE=s2kpdx01,Jan 13 2008, 02:40 PM]When I graduated from college I was making 55k and bought a S2000 with hardtop and extended warranty for something like 37k.
Old 01-13-2008, 01:50 PM
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Originally Posted by Saki GT,Jan 13 2008, 03:28 PM
Why don't we take this in a new direction. You can argue that you don't need more than 2,500 sq ft in a house, and that you don't need more than a $30k car no matter how much you make. Thoughts?
No one needs any more than that unless you have an excessively large family or a special situation. After that, it's all about what you "want". I "want" a new STI, and could certainly afford one, but grad school starts this month, and my goal is to not take out any loans and just drive my beater until school is done.
Old 01-13-2008, 01:56 PM
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Originally Posted by Onehots2k,Jan 13 2008, 02:45 PM
Your my hero. Now I dont feel bad like buying a 135i when I graduate this year. It will be my only BIG purchase for a very long time. My finances will be going into starting up my business and becoming a DINK. Your really are an enigma though. I mean what percentage of people with EVOs have kids? Its gotta be 0.1% Pardon me if that sounds ignorant.
I'm not sure about the kids and evos. I find a lot of kids like the car, but either can't afford it or realize quickly after buying one they can't afford it. I know a couple local guys that have evos and kids, but I would agree....overall it's a single man's car. Most of the local guys I know bought the car and within one year sold it. Evo owners in general make horrible financial decisions as best I can tell! But, that means good deals on evos for responsible people.

I bought it because it's trackable out of the box and has a lot of room. It's a comfortable car with 4 people or baby in the car seat. I have gone to the coast with my wife and kid and trunk of kid stuff many times. I've take 3 buddies to Oregon State football games. It's a great all around car, IMO.

I have minor mods, evo MR suspension with different springs, big sway bar, big wheels with RA1's an d about 6 different sets of brake pads. I couldn't decide which ones I liked best...I wasted a bunch of money that way. All the various LSDs and tranfer cases are expensive to service.

When I bought the S2000 I tracked it now and again my first year, but it was pretty expensive for me. After my first real pay increase I did more. If I hadn't moved to texas and back I would still have it and a cheap DD. I decided to get a good compromise car instead of 3 cars.

When you get that 135 get it out to the track. Just be aware it can become a habit worse then cocaine or heroin.
Old 01-13-2008, 01:59 PM
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Originally Posted by Saki GT,Jan 13 2008, 02:28 PM
Why don't we take this in a new direction. You can argue that you don't need more than 2,500 sq ft in a house, and that you don't need more than a $30k car no matter how much you make. Thoughts?
I agree with you on that 2500sq feet part Saki. Not so much on the car though. I live in a 1800sq ft town house by and I feel its a bit much when im by myself sometimes. The only reason I would by a big house and not have kids is for the value. I've seen many people make a KILLING off of home values skyrocketing.
Old 01-13-2008, 02:04 PM
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Originally Posted by s2kpdx01,Jan 13 2008, 02:56 PM
When you get that 135 get it out to the track. Just be aware it can become a habit worse then cocaine or heroin.
Totally agree with you on that one. If I had to have a perfect all around car with your weather conditions it would be an STI or EVO....hands down.

But yeah, I dont plan on taking my 135i to the track. I'm sure it will be pretty impressive and have good numbers but I dont think that specific car is made for that. Its more of a grand tourer. Even though it dosent have an LSD it would whoop some serious ass. My only mods will be a drop, maybe rims, and a stronger sway bar to take care of the understeering.

Hopefully Honda will build me an AP3. I would sell the Bimmer in a heartbeat.
Old 01-13-2008, 02:19 PM
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Mine was about 4 months worth.
Old 01-13-2008, 02:23 PM
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Originally Posted by Onehots2k,Jan 13 2008, 03:04 PM
But yeah, I dont plan on taking my 135i to the track. I'm sure it will be pretty impressive and have good numbers but I dont think that specific car is made for that. Its more of a grand tourer. Even though it dosent have an LSD it would whoop some serious ass. My only mods will be a drop, maybe rims, and a stronger sway bar to take care of the understeering.
Eh...you should take it out to an HPDE or two. None of that drag racing stuff. You don't have to burn it up or anything, but it will make you a better driver and really give you an appreciation for just how good your car is. I mean if i can see a Chrysler Pacifica driven by a 50+ yr old lady at the track a 135 should do just fine!
Old 01-13-2008, 02:28 PM
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Originally Posted by s2kpdx01,Jan 13 2008, 03:23 PM
Eh...you should take it out to an HPDE or two. None of that drag racing stuff. You don't have to burn it up or anything, but it will make you a better driver and really give you an appreciation for just how good your car is. I mean if i can see a Chrysler Pacifica driven by a 50+ yr old lady at the track a 135 should do just fine!
I'll do it. BMW is gonna wonder why I keep coming in for free brake pads...lol
Old 01-13-2008, 04:11 PM
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Mine was 5 months worth and I have no idea if that helps support any formula youre looking for.

It came down to being 23 years old and if as an engineer I cant afford a 20k roadster what do I really have to look forward too.

400$ a month rent helps too, hahaha


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