I know this depends on life style and where you live. But what is the general range a rational person should make per year gross to lease a G35 or buy a used one for $23,000?

I am guessing atleast $50,000

Your thoughts are welcomed.....

 

What about some cars that are more difficult to value? My 3000GT according to bluebook is worth less than 10k, but I get offers of around 15k from interested enthusiasts? Then theres my '92 Plymouth Laser AWD (Mitsu Eclipse) with a **** ton of mods but is worth less than $2000 by blue book...

That said, G35 = 35k, 3kGT = ~15k, DSM = ~2K --- 52K with no bias towards a very heavily mod invested car. I made 79k last year...Thats 65% of my annual gross income. If you factored in how much mod money I've spent, Id be screwed completely

As of now, I'm telling myself that I wont spend much money on mods in the G, but time will tell if I can restrain myself!

 

I know everyone else is thinking what I'm thinking too, so I'll just come out and say it. 70k/year? 19 years old? yeah right...

let get real folks. quit playing yourselves.

 

haha maybe as a gigolo?

 

It's not 70k a year, it is 50 with my christmas bonus. I don't need to lie about my income to try to fit in. I'm a blackjack dealer at a Casino in San Diego. I'm just lucky to snag a job like this at such a young age, thats all.

 

This is an interesting statement. I had never heard that before but it makes sense to me to factor the NET income rather than gross. For people like myself who fully contribute to a 401K and IRAs for me and my wife (stay at home mom) the net income is far from the gross income.

But to answer the original question:
1) $0
2) $50 ins, $80 gas
3) $0

total percentage= 0.7% of monthly gross (yes I've thought about a 997s but I believe no one should pay more than $50k for an automobile)

 

But what is the general range a rational person should make per year gross to lease a G35...

There are so many variables, it would be tough to come up with a formula to capture them all. For example one guy who makes a $100K a year may find a $400 a month lease payment a struggle, whereas another guy who makes $50K may easily be able to afford the $400 a month lease. If the guy with the higher income is saddled with a huge mortgage and has a large family to support, the extra $400 a month could be tough to handle. On the other hand the guy making $50K could be single, own his home, have no debt of any kind, and have a $100K in the bank.

So the question is how much disposeable income does a person have at the end of the month after deducting all expenses including saving at least 5% of income for retirement. The answer to that question will help you to determine how much of a lease payment you can afford.

 

i say don't live beyond your means. if you pay 500 a month for your car and only 200 a month in rent. but bring home 3000 a month. big deal. as long as you are happy. no matter which way it works out for you. if you are happy, then do it.

 

I agree with the above statement, if you live at home vs you live on your own, there's a big difference, if you only calculate the % of income. It's not accurate.

I believe no matter how well you are doing, you gonna die just like the rest of us, you are rich and happy, it's your own business... just be happy and live your life. Dont' take things for granted

 

I disagree. While no formula is going to be perfect, the "Do not exceed 50% of your net income" is a pretty good yard stick. Again, net here is Your Gross minus any expenses your LEGALLY obligated to pay like taxes, child support or court judgments. For most people, this is Gross - Taxes. 401K and other savings aren't included in the Net amount. Just because an employer removes it from your check doesn't mean it isn't part of your net, it's just an auto deducted expense.

If your living at home you should be saving so one day you can own a home. I don't see how that would factor into the equation at all. Can you spend 90% of your income and be happy? Sure, but for how long? For some it's forever, but for most they will want to own a home someday, have a family, etc.

Sure it's your own business and I'm not saying you should follow the 50% guidline. However, someone did ask the question and that is what the post is about. I 100% agree you should think about all the options and do what you as an individual thinks is best for YOU. Just make sure you have all the facts and understand why the recomendations are what they are. Don't live your life by a quippy quote.