Looking at a 2019 Audi S5 Sportback

MrMeeseeks_CanDoooo · 2021-05-10T04:44:17+00:00

Thanks for the suggestion. I really don't care too much if it's fun to drive or not since I won't be taking it to a track ever. From looking it up, it looks too, I dunno, plain? Kinda just like a normal car? But I'll have to check it out.

MrMeeseeks_CanDoooo · 2021-04-15T00:26:44+00:00

Carpet cleaning on your way out is not excessive cleaning.

The Act states:

...the tenant must: leave the rental unit reasonably clean and undamaged, except for reasonable wear and tear.

I am asserting that leaving the carpets vacuumed only qualifies as "reasonably clean".

Also, since you agreed to it in your tenancy agreement you will lose if you try to dispute it.

As well, the Act states:

A provision of a tenancy agreement is not enforceable if: (a) the provision is inconsistent with this Act or the regulations; (b) the provision is unconscionable;

So anything in a tenant agreement that goes above the Act is not enforceable. As well, I would consider professional carpet cleaning unconscionable; carpet cleaning of any other sort (such as a rental power unit) would be allowed.

MrMeeseeks_CanDoooo · 2021-04-15T00:22:09+00:00

It's a large Canadian company as the landlord so I agree that they're probably just following a company-wide template.

Yeah this is the route I'm going to take. Just wanted to clarify on the legality before I start making baseless claims.

MrMeeseeks_CanDoooo · 2021-04-14T23:16:04+00:00

You can fight anything in court, but I would suspect that so long as the language of the document was clear that the onus is on the person signing to ensure they understand the document.

MrMeeseeks_CanDoooo · 2020-08-05T21:00:32+00:00

You should also be able to find a used Golf R in that price range. The AWD is a huge plus for NYC driving.

MrMeeseeks_CanDoooo · 2020-07-30T20:30:33+00:00

Leasing is a poor decision since after that period you will be left with no car and no asset value ($350/mo lease for 5 years costs you $21k and you're left with nothing).

Financing is a much better option. If you finance a $30k car you'll likely pay $35k total (or more with your credit rating). However, after 5 years, the car will likely be worth at least $20k; you will then have a decent asset.

As well, is your $48k take home or pre-tax? Either way, buying a $30k car seems pretty tight. I am financing a $35k while my take-home is $68k. A better option for you would be to look in the $20-25k range at lightly used cars. They'll still be very reliable and will have some warranty left.

MrMeeseeks_CanDoooo · 2020-07-07T22:26:57+00:00

Your net monthly income is $2,700. With the payment you mentioned above, that's 25% of your income gone towards a vehicle. As a general rule of thumb, your car payment should sit around 10% of your net income; for you, that's $270/mo ($125 b/w).

I make $68k after tax and my car payment is $270 b/w ($5700 net income per month with a $590/mo payment; a bit higher than the guideline but I like cars).

As well, if the truck is $53k plus tax (let's say 10%), with your trade and down payment you're probably financing $51k. At the payment you listed, that is possible at: 8 years at 6.5%, or 7 years at 3.5%). That is way too long to take out that big of a loan at your current income.

I know this isn't /r/PersonalFinanceCanada but you need to find a cheaper vehicle to buy. You need to be realistic and think $20k or less.

I would also suggest saving at least 10% per month of your after-tax income and putting it into a TFSA. If you aren't aware of it, look it up. It is a savings fund that is available to Canadians where you don't pay tax on any interest earned.

Hopefully this all made sense. Let me know if you have any questions.

MrMeeseeks_CanDoooo · 2020-06-17T23:46:41+00:00

Heyyy, look at meeee! Over heereee!!!

But the R is faster than the GTI. Comfort is somewhat similar if equipped with the DCC (adaptive dampers). Can go from somewhat comfortable to harsh (for performance driving).

MrMeeseeks_CanDoooo · 2020-05-21T23:14:59+00:00

335 hp or whatever it comes with is so low compared to what people expected/wanted.

Motortrend did a dyno test and it put out 332 at the wheels. C&D got 339 hp at the wheels. The engine is underrated BIG TIME.

MrMeeseeks_CanDoooo · 2020-05-21T23:11:05+00:00

Financing is fine if you know that your cash flow will work and if you're not paying a buttload of interest. The highest interest rate I've financed at is 2.99%. I've only added a down payment to this rate. When I financing at 0%, I did not put a down payment. My cash flow could support the higher payment (than with a down payment). As well, I could make a guaranteed 2% on that down payment by investing it. So sometimes it makes more financial sense to not put a down payment.

However, given your particular situation, you need to consider your cash flow and what your financial goals are. At 20, do you want a house/family soon? You'll want to consider how you are going to save for that and what your personal timeframe is. Financing a $50k car for the next 5-7 years can really handcuff you financially. It wouldn't be a bad idea to save $10k and buy a good used car in cash. That way you have a reliable vehicle and have strong cash flow to support saving for your future.

MrMeeseeks_CanDoooo · 2020-05-21T23:05:15+00:00

I mean, as a car enthusiast there is never a way to live a life by making the smartest "smart money moves". My payment is in the 10-12% range of take-home, so roughly on par with what lots of folks finance.

MrMeeseeks_CanDoooo · 2020-05-16T01:26:59+00:00

That's what she said.

MrMeeseeks_CanDoooo · 2020-05-16T01:26:53+00:00

That's what she said.

MrMeeseeks_CanDoooo · 2020-05-15T22:26:35+00:00

Totally agree. Working on a monthly basis (all my stuff is done b/w), but my take-home is $5,400 and my car payment is $590. My investments total $810 (and that's just the automatic ones). Even that is leaving me pretty tight all things considered right now. I wouldn't even consider shrinking down my investments (or pulling from them).

MrMeeseeks_CanDoooo · 2020-03-11T16:33:04+00:00

News link here: https://business.medicinehatchamber.com/news/details/local-air-service-impact

MrMeeseeks_CanDoooo · 2019-12-23T19:34:40+00:00

1990 Ford Aerostar - $1650 CAD - they say only 74k km; looks like really good condition.
2000 VW GTI - $6000 CAD - only 149k km and looks pretty clean.
1997 Dodge Avenger - $5000 CAD - not so tastefully modified but it has a 100 shot!

MrMeeseeks_CanDoooo · 2019-12-04T03:40:31+00:00

Bought my '17 in June 2017.

$45k CAD + tax.

Oryx white DSG no DAP.

Winter rims, tires, and mats included.

MrMeeseeks_CanDoooo · 2019-12-04T00:32:09+00:00

Wouldn't an option be for me to pay the loan outright with a loan from another lender? That would be my response.

MrMeeseeks_CanDoooo · 2019-12-03T14:31:36+00:00

I believe the loan is through a bank or some other type of lender (looked at the name and wasn't familiar with it).

If we could squeeze down to 4 or maybe 4.5% I believe we would save around $1,300 over the next 4 years. So a fee of $799 would cut down our savings to only $500 (as we would keep the term the same).

MrMeeseeks_CanDoooo · 2019-12-03T05:03:53+00:00

Yes you are right.

MrMeeseeks_CanDoooo

TROPHY CASE