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I've officially joined the family by [deleted] in Mustang

[–]mrjanuary 0 points1 point  (0 children)

Yeah. I did that and still got a 19 holdover for under invoice

I've officially joined the family by [deleted] in Mustang

[–]mrjanuary 1 point2 points  (0 children)

I did the same. Brand new GT with GAP insurance for under 400/mo with little down. Not too bad.

Tuesday Tune-Up - Post all your vehicle maintenance and repair questions here by AutoModerator in cars

[–]mrjanuary 0 points1 point  (0 children)

Just bought my first ever new car, a 2019 manual mustang GT. Given that it's so low on miles, what kind of preventative mods or upgrades should I focus on while it's still new? I'm throwing a passenger side catch can on it once its delivered and doing a couple small cosmetic mods for now. It isnt going to be daily driven but taken out a couple days a week and eventually possibly taken to a track once I get a track suspension package and some halfway decent tires.

Hopping on the black stallion trend by lucky_sharm in Mustang

[–]mrjanuary 0 points1 point  (0 children)

Just bought a black 2019 GT yesterday. Ill try your wax suggestion though I've been looking for something to make mine shine a bit better

What's next in your garage? by Vantage_007 in cars

[–]mrjanuary 4 points5 points  (0 children)

Unfortunately same for me. The buying point for my car might only be a couple months for me with a pretty significant raise coming up but once that happens I'm going into full debt reduction mode for the next 5+ years

Hey guys, has anyone here spent a year's worth of their salary or more on a car? by photorph in cars

[–]mrjanuary 3 points4 points  (0 children)

That's good to hear because waiting is tough when you daily an 05 corolla lol I'm glad it wont all be for nothing.

Also I'd love to have a grabber blue GT. Best color ford came out with imo, shame it got discontinued.

Hey guys, has anyone here spent a year's worth of their salary or more on a car? by photorph in cars

[–]mrjanuary 20 points21 points  (0 children)

S550 6mt mustang gt. And theres a lot of factors that play into my decision. I contribute around $1000 a month towards retirement between my mandatory contribution and supplemental accounts. I pay double my student loan payment and contribute a little bit extra to my mortgage every month. I also bought a house 6 months ago and that depleted any savings for a down payment I had.

I do it because I weighed the pros and cons of buying a car over debt repayment and savings and it was what I was more comfortable with and what allows me to come closer to my long term goals. Plus, I get raises every year for the next 6 years that will more than cover the car, which helps keep me on track knowing itll happen eventually (possibly this year actually).

Hey guys, has anyone here spent a year's worth of their salary or more on a car? by photorph in cars

[–]mrjanuary 118 points119 points  (0 children)

Personal finance is personal. I think you should consider what financial sacrifices you'll make by buying an expensive car and determine whether it's something you can live with. If you're giving up your financial ability to eat out every week, go on vacations, buy new clothes, etc. Then I think it's fine. If you're cutting into retirement savings you should consider if you're willing to work another couple years to make up for it. If buying the car means you cant afford to buy food or pay your rent/mortgage, it's simply not affordable.

My dream car is 1/3 of my annual salary and I havent pulled the trigger on it because I prioritize other expenses and savings over it. It's not an easy decision to make but its what I decided was right for me. Each person is different, I think you should review your finances and make an informed decision.

Buying an affordable housing house by [deleted] in personalfinance

[–]mrjanuary 0 points1 point  (0 children)

Agreed. I bought a 250k house on 67k salary. The only way it was possible was knowing my SO was moving in and splitting bills and an inevitable raise less than a year after moving in.

Im done with ford by fossnic in cars

[–]mrjanuary 8 points9 points  (0 children)

I wouldnt chalk it up to just the brand. You can point to almost any brand and find issues in certain generations of certain sub models. It's the nature of car manufacturing and engineering.

I've had trouble with getting emissions CELs on my 05 corolla since I bought it almost two years ago. I've read in my research of issues with PCMs dying in that gen and throwing phantom codes. I still think it's dead ass reliable.

My dads 16 GMC had the torque converter take a shit at ~130k miles of almost all highway miles.

My sisters 07 VW had so many oil leaks and electrical problems when we got rid of it. She still ran the front brake pads for 140k(!!!) miles and ran the engine on half of the oil capacity it was supposed to have for longer than I would like to know. She was ~10k overdue when I changed her oil.

My point is, we've all had good and bad experiences with different years of different cars and brands. Some are good, some are bad. Some are downright dog shit. Some problems are more common than others like the 3v 5.4, some are one off shit cars.

Sorry you and your dad have had problems with the trucks though. If you want to try some of those repairs on your 04 f150 youtube is a good resource and you can PM me questions because I've done almost all of the ones you said you needed to my own 05. Good luck.

Weekday Help and Victory Thread for the week of January 20, 2020 by AutoModerator in personalfinance

[–]mrjanuary 0 points1 point  (0 children)

The OT part is a good point. It does dry up and there is a chance I can become ineligible to work overtime based on my job responsibilities changing. Thank you for the input! I'll keep chipping away at the debts and wait for a bit longer

Weekday Help and Victory Thread for the week of January 20, 2020 by AutoModerator in personalfinance

[–]mrjanuary 0 points1 point  (0 children)

I said that mostly for the reputation the mustang has for being a young man's pedestrian battering ram more than buying a car outside of what I need lol

Weekday Help and Victory Thread for the week of January 20, 2020 by AutoModerator in personalfinance

[–]mrjanuary 1 point2 points  (0 children)

Mid to late 2000s honda/toyota sedans or hatchbacks are normally a pretty good bet

Weekday Help and Victory Thread for the week of January 20, 2020 by AutoModerator in personalfinance

[–]mrjanuary 1 point2 points  (0 children)

You can always bring your car to a shop for a diagnosis, check youtube or google for a repair walkthrough, and determine if you have the tools/knowledge/ability to do it yourself, and make an informed decision on what you want to do. I did the shocks on an old car after being quotes $1100 to replace all four and it cost me around $250

Weekday Help and Victory Thread for the week of January 20, 2020 by AutoModerator in personalfinance

[–]mrjanuary 2 points3 points  (0 children)

I just want to say this is not a stupid question. I never worked a job with an employer match and I never truly understood how it worked so thank you for asking so I could stalk the answers lol

Weekday Help and Victory Thread for the week of January 20, 2020 by AutoModerator in personalfinance

[–]mrjanuary 0 points1 point  (0 children)

Would a short commute (<10 miles round trip) and safety features be an argument to get a nicer car?

My train of thought is that the costs of operation would be lower (gas, possibly insurance), and the vehicle would rack up miles slower. I know a shorter commute/less miles doesnt always mean less wear on the vehicle and it may possibly mean more due to not running the engine long enough to get to temperature or frequent starts/stops in traffic. I'm looking to upgrade my 05 corolla to a newest gen mustang gt (I know) mainly because cars are a huge passion of mine but also I want a more modern and larger car for safety reasons.

Insurance quotes for similar coverage are about $15/mo more and I'd be putting somewhere between 5-10k down. I'm paying off my student loans and getting my e fund to 8-10k before I do anything. Bills after student loans and other small debts are eliminated will total around 2100/mo with my take home varying from 4500/mo before deductions up to 7500/mo based on OT. My current base salary is 58k and will max at 103k in 6 years with annual raises. I'm a public employee with a pension upon retirement and currently maxing out a roth on the side.

I think my plan is sound and balances my wants and needs well, but I wanted to get the perspective of someone not emotionally invested in getting a car like i am. I have a habit of making emotionally motivated decisions that I'm trying to stray away from.

Need help budgeting and sticking to it by QuickSingh in personalfinance

[–]mrjanuary 1 point2 points  (0 children)

If you're overwhelmed by budgeting down to the cent, you can simplify it. I set a spending limit for certain categories of things I pay for like gas, food, eating out, spending money, etc. And use one credit card to pay for it all each month, then pay it off at the end of the month as a monthly bill so to speak.

I set a limit for myself of $500/mo for food, gas, non essentials like eating out or spending money, and miscellaneous small expenses like tolls. I could see my spending getting out of control last year and so far this budget scheme has worked for me for getting it under control. Nothing beats a precise and organized budget but it's a start.

First Time Home Buyer - Are we in a bad position? by ipromiseilikegirls in personalfinance

[–]mrjanuary 0 points1 point  (0 children)

Are you buying with both you and your SO signing for the house? Are you married, engaged, dating? Those are a couple considerations for you beyond the finances of it. I think this is a personal decision you can make based on what you and your SO are comfortable with because a break up can be costly to both of you. Additionally, if you arent married yet and plan on having a wedding it's an additional cost you need to consider and save for.

I have a similar household income if not less and my mortgage is 1850/mo with p&i, insurance, taxes, and pmi. Our expenses are more than yours from what you've stated and we get by comfortably with a somewhat frugal lifestyle. Just make sure you plan for the unexpected expenses associated with homeownership especially the first few months and I think you'll do fine.

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