I graduate in a few weeks and currently I only make $42K/year and I can easily make the payment and insurance....plus rent, credit cards, etc.

 

I will be graduating in May, starting work in July making $56K. My plan is to drive my sister's car while she is overseas till she gets back in about October, then go out and my a new G. I have about $5000 in pretty safe stock for a down payment, so I am looking at about $600/month for 60 months plus Geico quoted me at $1000/6 months. I am also living at home till probably about May '06.

It is more than most financial experts advise, but most people don't have a love for their ride like we do (or will i should say)

 

Same

 

if I were you I'd wait for the 2006 g35.. only a few months away from may. I'd settled down with the job first. i'm also graduating in may.

 

Geez where are you guys getting these jobs. Took me 1.5 yrs to get to the 50+K mark. Kissanhug I waited 2 yrs after graduating to buy my coupe (just got it 3 weeks ago). Looking back it probably wasn't the smartest decision as I am renting right now and would really like to own a condo in the next 2-3 yrs. But life is too short and who knows what tommorow will bring!

 

Just a side note...I believe Infiniti offers some special program for new grads? That's something I would look into.

If I was in your shoes, I would definitely check how much I currently have saved, work for a few months and save some more and then re-evaluate my finances to see what you have leftover after expenses and etc. By that time, it's still not too late to buy an '05 model and since they will have the new '06 coming out it will give you some options and you could possibly get the '05 cheaper. Overall, this will give you a better idea on how big of a downpayment you can afford and knowing how much cash you have leftover month by month will tell you if you can afford the payments.

I did something very similar, but I worked for a year first, second year bought a home and will be buying the car all in the same year. My goal was to get both at the same time I really wanted to get the car first but was patient enough, it wasn't easy that's for sure. But in my opinion, it does pay to be patient...you really can get everything you want without having to really struggle financially if you take the time to plan

 

Hell yeah! I totally agree. And that is exactly why I can't wait to get it!

By the way, my job is for one of the big 3 consulting companies, so I will definatly be working my *** off for that salary.

 

I graduated college in May 2004. My first paycheck of my first "real" 8-to-5 job went to a downpayment on my G on August 27, 2004. The smile on my face hasn't gone away yet; I still get butterflies when I mash the gas around a corner!

I would definitely recommend buying a used G35. If you have good credit, you can get a good interest rate and the monthly payments will definitely be lower vs. a new G35. It will still be under warranty as well.

It might be important to note that I make a lot less than $54k/yr, but I also live in the midwest, where $40k/yr goes a LOOOOOOOOONG way for a single 22 yr old male.

 

First thing I would do is max out your 401k contribution for the year and determine if you can afford it after that. Compounding interest is your friend at your age. Do some calculations and see what the G will really cost you now.

 

Wezman - I work consulting too, you're probably one of our competitors, lol...but man, consulting is no joke and I don't remember the last time I worked 8-5, haha. But I do love it and the money is good for what it's worth Good luck to you!

 

I agree with this 100%...however, coming out of college you still got some "young" years to live through and compound interest will be by your side for a bit...just don't forget your "friend" when you manage your "young" timeframe, but do take advantage of it when you can.

 

Don't tell me you are IT consultants. It will just make me realize how underpaid I really am.

 

Damn good advice. If I could go back and change anything, I would have maxed out my 401k for the first 5 years. By the time you are 30, you'd be ahead of most 40 year olds in long term $ saved. But everyone wants it now, that is why this country is in debt

 

Don't forget the standard cost of living...I for one ignore all salaries mentioned in these forums, the ones that catches my eye are the ones near my location. If there's a significant difference, I will definitely look into it

 

True, but this is why I made no mention of things like a ROTH IRA. I really think while her expenses are low now (ie no house, kids, etc) she should save as much as she can.