I am a newbie and this is my first thread. I will be graduating in May and already have a job lined up for. My base salary is $54k and I was wondering how many of you think it's a smart idea to buy the 05 coupe 6MT as soon as I start working. It is a too expensive car for that kind of salary. I'm not a big spender and am good at budgeting, but I don't want to go too overboard. It's just that I can't see myself in any other car but this. To get anything else would be a big disservice to my self. Any and all comments would be greatly appreciated. Thanks.

 

Well I have the car and im currently in college. I work full time and goto school full time. It seems like a lot but its not to bad. As far as affording it are you talking the monthly payments? gas? insurance? or all of the above? I would say go for it as long as you are responsibe with your money. Also how is your insurance? Any accidents? I know that will hike your premium on a G way up. My sister 2 years older than me pays almost $120 more a month than me on an acura rsx-s just becuase she has gotten into a few accidents in the past. Good luck man, the car is worth it.

 

I should probably mention that I currently have a 97 accord and the only reason why I am giving it uo is because I am giving it to my little sister. She had bought her own car (with her own money) but then my other sis. completely wrecked. So I feel sorry for the kiddo.

 

I guess when I say affording it, I mean everything in total. I am in NY now and the job is in pittsburgh. For me to insure in NY will be $580 for 6 mnths and in Pittsburgh it would be like $2000+ for 6 months. So i'll most likely use my b/f address in NY as my primary residence so I can insure it in NY. I don't know if I can do that for too long. But that's my current plan.

 

I was in the same situation as you. I graduated last May and desparately wanted a new car not because I really needed it, but because I just wanted to reward myself for going through college and getting a well paying job. I make just about you and really wanted to spend it right away on a new car. If I were you, I would wait a few months, build some credit, see what your monthly expenses are, then make a decision on whether or not you can afford all the expenses that pertain to the G35. Since this is probably your biggest purchase, most credit bureaus prefer that you have a stable job for at least 6 months before they give you a good interest rate. But then again, if you cant wait, get that G. I just bought mine 3 weeks ago after 8 months of work.

 

Well, I now know that your a female. Your probably not into modding cars. In that case I dont think you will be bothered to much with local police. I know a couple friends that used to insure their car in NH so they didnt have to pay for full coverage, but your right, you cant do it forever. On another note I pay $2680 divided into 10 months, and its been going down since Ive been aging with no accidents.

 

you right about not into modding it, the most i'll get is tinted windows and the premium package. Does getting it in red jack up the insurance by a lot??

 

If it will it will be small... I would say no more than 15 dollars more a month. I wouldnt let insurance choose what color to get.

 

Congrats on graduating!

I graduated last May and got into the IFS sig grad program - got a great rate for financing. I also got a high paying job (like yourself) out of school for a major financial institution. I would recommend you work for at least 6 months, invest in a savings account (ING 3% right now), work on getting your credit prestine, and most importantly, work on doing well and solidifying yourself in your career.

I would not make a major purchase like that right out of school in May. Give yourself some time to make sure you are going to stay at your job and it has some level of security. 54K, although it may seem like a ton of money right out of school, is really not that much.

You also mention you will be working in Pittsburgh. Does this mean you will be renting? DO NOT buy a G and rent at the same time on 54K. Hope this helps and feel free to PM me if you have more questions. Our situations were very simliar out of school. However, I saved up quite a bit, got a nice raise and bonus, and established security at work. Hope this helps.

 

it's actually is in the outskirts of Pittsburgh. Rent isn't too bad out there. I can get a real nice apartment for $600/month

 

if one week's salary is more than enough to pay for the car and insurance for the month, then you can afford it. i say go for it. as long as you aren't living paycheck to paycheck, its ok.

 

i would recommend that you order your G spec'ed exactly how you'd like it, that way its built in the factory according to how you want it, exact color and specs, then wait 3 or 4 months until it comes in, then buy it. Thats what I did out of college...

I ordered my G35 a month before I graduated, 6 months later my G35 arrived at my dealership and I bought it because I knew that I had a stable job and excellent credit.

I am glad that you are asking for advice on this matter because it is a large purchase, and it will cost you $1000/month when you factor in gas, maintenance, and insurance.

If you are going to be living at home with your parents, then GO FOR IT but if your going to be getting your own place, then I would order it and wait a few months till it comes in, and if your financial situation is good, then GO FOR IT

 

54k income, I would get a $25K car and and rent an apartment to start out.
congrats.

 

maybe you should think about buying a co-op, condo or a house over there instead of renting... you're basically throwing your money away when you rent and building equity for someone else when you could be paying a mortgage and building equity for yourself... personally i waited a year after i graduated bought a coop first then a G and i make less than you guys...

I know its really tempting to buy it right after you graduate but try not to fall into that trap because its hard to get out of it... you also have to think about maintenance costs and getting a set of winter tires, storing your summers wheels etc... I would buy a cheap used car for now for your commute... if you can't buy a house yet or co-op then find the cheapest place to rent that fits within your living standards, save up as much as you can in a year and use that towards buying a house or co-op first. Then save up again for a year and buy your dream car... that way you'll be on schedule for 2007 when the GTR comes out and a few other nice cars that you'll be interested in... and during this process you'll be building credit and equity in your property so you'll be in a better position to get low interest rates...

also, its good to have some money saved up, typically 3 months salary in case god forbid something happens and you lose your job or run into a financial emergency... and if you're planning to start a family eventually then you need to think this through or else you could set yourself back a few years while you pay for the car...

i'm sure you won't follow reason and get a G hehe don't worry, I also think with my heart and not my head...