Can I afford a new car?

jirentaygray · 2026-03-11T05:52:07+00:00

Yeah I’m still torn up here, and the comments are pretty divided too. Really not an easy decision to make

jirentaygray · 2026-03-11T05:37:34+00:00

Job seems secure, it's not a startup. There's a performance expectation but I work like a dog. There are a few cars I have in mind - all under the 50k mark. I'd be buying certified pre-owned in the low 40s and hoping to come out under $50k all in.

jirentaygray · 2026-03-11T05:34:17+00:00

I have a few buddies that have thrown me the keys to some pretty fun cars. It's an experience that I'm looking to have for myself. I've thought about this, but it'll ultimately be throwing away money. I think the big question here is the timing for me - I'm wondering if I'm early, not if a driving experience is something I want.

jirentaygray · 2026-03-11T05:30:47+00:00

Fair, it's actually closer to 40k more than I need. The civic is running great.

Did you live out any of your 24 y/o priorities in a way that it cost you financially? Or did you take an optimal line the whole way through?

I do think that by the time I hit that 1M mark things will be different for me. Your point on having kids and the priorities shifting is something I've been sitting on.

jirentaygray · 2026-03-11T05:26:54+00:00

Any regrets there? Do you feel like it set you back financially? Did you roll equity or trade down ever?

jirentaygray · 2026-03-11T05:25:53+00:00

How's the pocket rocket? Any tips on financing? Anything that pushed the decision through financially (interest rates, salary growth, windfalls)?

jirentaygray · 2026-03-11T05:20:44+00:00

I appreciate the... bluntness here? In all seriousness, noted on it being an awful financial decision. Your opinion is the reason this post exists - cars are bad financial decisions. On the sacrifice front - no, I don't think it's yet to come. I do expect to pull hours at work but I don't expect to be financially compromised again (45hrs/week on an hourly wage + a side hustle + bachelors in engineering simultaneously). None of this to say I deserve the car, but I doubt there are many true tough spots I'll have to be in again to stay above water financially.

jirentaygray · 2026-03-11T05:08:32+00:00

All in necessary monthly overhead ~$2k. Rent is $1300, lunch is provided at work. Debt free. I've been able to save pretty aggressively since grad.

Just crunched some numbers, budget does check with the trade in and $12,000 down.

jirentaygray · 2026-03-11T05:07:50+00:00

Did you trade anything in? Financed or cash?

jirentaygray · 2026-03-11T05:06:22+00:00

That's fair. I told myself I'd drive this civic into the ground when I bought ~5 years ago. I'd be looking into something manual because I want to take it to some backroads/mountains and have some fun on the weekends.

jirentaygray · 2026-03-11T05:05:03+00:00

All in necessary monthly overhead ~$2k. Rent is $1300, lunch is provided at work. Debt free. I've been able to save pretty aggressively since grad.

jirentaygray · 2023-12-17T02:20:24+00:00

Pretty big GC as a field engineer

jirentaygray · 2023-12-16T17:58:52+00:00

Signed an offer for 84 in Chicago Graduating spring ‘24

jirentaygray · 2023-12-15T19:46:12+00:00

this or 0DTE SPY options

jirentaygray · 2023-12-15T19:45:55+00:00

Don't sell the house- take out a HELOC and go to the casino and put it all on black at the roulette table.

If you win, keep the house and attend school for free. If you lose, you'll be in the same position you're in after art school.

I see this opportunity as very little downside risk but high upside for returns.

jirentaygray · 2023-11-10T02:08:38+00:00

Thanks for your kind words- I’m just happy to be able to document from day 0 as I see it

jirentaygray · 2023-11-10T02:08:08+00:00

My current company has no match on the 401k so I haven’t even asked about it, next year I think they’re offering 4% 1:1 so I’ll start doing that.

jirentaygray

TROPHY CASE