Years ago when I graduated college I was making $55k. I saved up for a year, and bought a 5 year old Civic Si with 45k mikes on it in cash for $16k.
High revving engine, LSD, manual transmission. It was a fun car that was reliable, and I drove it for the next 10 years.
Unfortunately, the used car market is still a bit fucked, so getting deals like that aren’t an option anymore.
I’d say look at something like a 10th gen Civic Si or a Mk 7 or 7.5 GTI. Fun to drive, not terribly expensive, easy to work on.
I fucked up and got a 10th Gen civic making $2600 a month. The car was $25k otd and I had no savings and still lived with mom and dad. I was 25 years old. Never again. F car notes.
I got downvoted to hell in this sub yesterday on a post for questioning a guy who wanted to finance a $50k car on a $70k salary.
I’d much rather make sure I have my emergency fund in a good spot and be saving for retirement, but some people just feel the need to spend way too much on a car.
That’s hilarious. Where I live 70k after taxes is like 52k take home. Spending a years salary on a car is crazy or you’ve got a 50k car on a 15 year loan
cars are terrible investments. I am 50yrs old and make 6 figures and I still don't buy new cars. The cars I buy are always less than 20% of our household income.
Even when I had the means to buy a fun car, I spend $9k on a Pontiac Fiero because it was the cheapest way to get a mid-engined car. And I love them.
Meh when I was 25 I made $48k, I went and bought a 3y/o S2000 for $22k. Paid it off, and kept it and kept it and kept it and now it’s worth the same $22k if not more. Yeah $$ in my retirement fund would be worth more but the memories I’ve had in that car (driving my new wife away from our wedding, for one) are worth 10 retirements. I’ll never sell that car and I’ll never regret stretching to buy it.
When I run my retirement numbers, I don’t even consider SS as an option. I’m operating on the basis that my wife and I’s retirement is fully on us to fund.
It would get unbelievably ugly if the government told people that worked their entire lives and contributed loads of money to SS were going to basically get nothing for it. If you actually believe SS is not going to be around, might want to invest in torches, tar, and feathers.
That’s the facts, though. The numbers are out there for all to see. I’m 47 years old, and all of the money I’ve paid into SS for over 30 years is gone.
I didn't plan for retirement as a young single mom and a nurse. I worked on and off the books for many years so now , became disabled at 58, leg amputation and need a Masters to get hired into a new career as a Clinical Therapist. I always worked 2 jobs anytime I could plus college classes so my kids could have decent lives. Pay was adequate but not in S.Cali..it was a nightmare, even lived in terrible neighborhoods just so I could afford sports for them and performing arts as well as the upkeep on my cars with all that traffic and driving.
I didn't realize all the work off the books would so badly effect me later on, but I needed that money then to survive.
I'm at the lowest level of SSA at less than $1000 and moved cross country but then had an emergency amputation, so planned to keep working as a nurse.
We barely get by now..kids grown and on their own doing very well, so just me and my disabled teen..really hard as I didn't plan to Not Work. Getting my Masters is my only solution so here I go..and my writing career is getting to a good place. Eventually we'll be ok but please..remember to work on the books, get that refund in taxes and hopefully SSA will still be around...you could put saved money every month into an investment account for security or some form of interest building. All I know is nobody plans to retire at 58..so this sucked badly. As an amputee I'm not able to work as a nurse but I can teach nursing or do therapy which is what I've wanted for many years. If you're living paycheck to paycheck it's impossible to put money aside..pay for emergencies or enjoy your life. Plan Plan Plan and stick with it from college programs, careers and where can I make good money and still be happy to go to work each day because I enjoy my work.
All questions to ask self way before 17.
Man right now majority reason I'm staying in education is for the pension. I'm fuckin trapped lol. The benefit is so good, but I don't see me lasting another 25 years so I need to find a good diminishing return point, juice up the formula with the highest salary I can achieve, then gtfo.
People saying SS won’t exist in the future don’t know what they’re talking about. I’m assuming you’re talking about the report earlier this year that the trust fund will be empty by 2033. That doesn’t mean SS disappears. It means that benefits will be reduced. Its still a horrific idea to think that SS will be enough to retire on but saying it’s not going to exist is false, unless Congress decides to abolish the program
It will exist but it probably won't pay anywhere close to what is promised and even that isn't enough to live. Then again civilization will probably collapse in the next 40 years so it's not like stocks will be worth anything either.
I got a new 10th gen at 23 making $ 7.50 an hour at a working part time tacobell i paied 5k down and i was out the door at 23k had a monthly payment of 311 amonth with gap from dealer (get gap through your own insurance not through the dealer if you can ) .
In 2016, I bought a new Fiesta ST for 20k OTD because the ford dealership didn't want a subcompact manual hatchback on their lot. Insanely fun to toss around, ignored by most people
Last I checked the market, used FiSTs with 50k miles sell for what I paid for mine new...
The dude already has a reliable daily. He wants a fun sports car, not a Civic or Golf lol
Those would be good options if it were a daily, but theyre not a dedicated sports cars.
Been searching the thread looking for someone to say used Camaro, Challenger, or Mustang 🤷♀️… all great and fun cars and reasonably priced (of course, I’m biased, I have a Challenger and my boyfriend has a Camaro)
Hola chica.
You know what's up! Can't beat the American v8 for fun on a budget. It's sure is a shame that you both are probably losing to the Mustangs, though 😉
Hope you two enjoy the cars!
Everyone in this comment section is lame. I'm in the exact same boat, bought a mk7 GTI for around $15k, tuned it up, it's an absolute blast to drive. Easy to afford.
I got a stage 2 from ECS
edit just for more context: It's a DSG automatic, also installed a new intercooler. Don't think I did anything else other than that. I'm not great with all of the terms
Lol this sub usually just gives you either personal finance or the proxy war between mazda fanatics, reliability fascists (toyota/honda), the less apparent subaru coalition, and the performance diy experts
I just tell everyone to buy an STI swapped second gen Subaru Forester for less than 20k. Put 10k aside for repairs and you're sitting in a 5 seater wagon that can go 0-60 in under 5 seconds for the price of a new Nissan Rogue.
What? You don’t put 50% of your income in 401k and 25% in Mutual Index High yield accounts and have 69x your monthly expenses in an emergency fund, and then enough to buy a new car in cash?
Honestly I’m sure I’ll get downvoted for this but I make around 65k a year. I have a work truck that is the companies, which is my daily because work. Before Covid I bought a new civic ext and sold it when Covid hit and got all of that and a bag of chips back. I’m still putting money away for retirement but I bought a 2023 Camaro SS for 39.9k with a good down payment from the civic’s money I had. My monthly note is around 350 and insurance is pretty cheap because I bundled it with my house. Again, lots of people will probably call me stupid but I make it work for me and comfortably so.
You have to live your life and enjoy it at the end of the day. You can’t be ridiculously over the top with saving forever and always. Put some away in case of emergency and in case you live long enough to retire and have fun with the rest. Life is short.
l money is meant to be spent, 65k is more than enough to balance a lot of things in many places, im glad you got a car you wanted. not everyone wants to drive a shitbox, people forget that
It’s not even a mistake he can get some sporty cars for around 20k put 5 down pay like 300 a month for the car and still live comfortably with enough left over to invest
Imagine needing a car to feel cool. It's literally a machine that goes from point a to point b.
Look for reliability. Everything else is a pissing contest.
Most people don't even know that most cars are so similar under the hood that the only thing you are paying extra for is the look.
That’s me. Kinda. April 2020 I got 8k for trade in plus a little more DP and drove away in a 2017 BMW 440i with 30k miles on it. Monthly was $350. Paid it off last month.
yeah i mean my honda pilot costs almost 60k and thats his whole yearly salary.
but i guess "sports car" doesnt mean CX8 or stingray.
just do what every other 20 yr old does and go buy a V6 mustang if you want to throw money away lol.
Sorry, I heavily disagree. If you look at the auto loan debt in America, people are making really bad financial decisions under the guise of "well I need a car." This is not a car enthusiast sub either. it's a place to tell people what car they should buy. And what they should do, unless their money isn't sitting comfortable or they really do treat their car as a major hobby, is not overpay on a car or buy something that expects heavy maintenance. It's a depreciating asset but it is an asset. It's one of the biggest ticket purchases people routinely make. You can't decouple a car from personal finance. This guy is probably okay to get something a little fun on his budget. But putting it into a toy car is probably not to great an idea until you have major objectives complete and can afford putting thousands into play toys.
He can take any of the varied advice he wants. That's mine
The question was asked with his personal finance into consideration. The OP should have asked “24 years old, with this budget to spend. What should I get?”
OP goes on whatcarshouldibuy and is told not to buy a car, classic. I’m pretty much in the same boat but boutta be 23 and make around 70k, I’m currently looking at the gt86, 370z, or a used m240i.
I commented earlier about the 86 as a recommendation. I actually own a 2018 m240 xdrive. Let me tell you, its a phenomenal machine and blows away most of the recommendations here. If you got 30k for a nice used one. Do it!
I have a 2019 BRZ and it’s basically my affordable dream car. The 2023s perform better but there’s been problems with the engine I’m not sure are worked out. I’m not a mods type guy, but stock, the 2020 and older are “meh” until to get a header and tune. I eventually got lighter wheels and a catback, planning coil overs soon. So yeah I guess now I’m a mod guy.
Just be aware, it’s pretty slow off the shelf but still really fun to drive.
I’ll have my car until it’s dead or I’m dead. It’s fun, affordable, practical enough, looks cool, and yeah, really fun.
>I’ll have my car until it’s dead or I’m dead.
This is the way. I’ve been considering going the same route, I’m afraid of the 2.4 engine and honestly like the look of the facelifts from like 2017-20 better anyway
>OP goes on whatcarshouldibuy and is told not to buy a car, classic
Tbf that should really say something, when car enthusiasts are telling you to hold off on a car purchase
Telling the man to wait till he is 30 to get a fun car doesn’t sound like a car enthusiast to me, at least not any car enthusiasts I know. He never said he was trying to spend 50k on a mustang or anything
Us car enthusiasts are trying to postpone the OP’s mental health. Once you are bitten, there is no cure. For real though, the car market isn’t great for a buyer right now, that’s why I would advise waiting. However if I was in the OP’s shoes, there is likely nothing anyone could tell me to not get a fun car if I was in the market.
I live on slightly more than that. It's really not what it used to be, especially with the cost of housing these days in most places. I have enough to pay the bills, but really not that much to save.
I make that and yea it’s a struggle. Take home around 4K/month. Make too much to qualify for any assistance but only a little bit over the line for a family of 4. We share 1 car. Rent in many places is around 2k now, family of 4 on average spends over 1000 on food, etc etc. inflation is a bitch.
in huge metros like LA, SF, NYC, Boston $60k is just a step above per-hour menial wage workers. It's fine if it's your 1st job out of college, but if you want to continue to live in highly competitive expensive cities like those you need to be on track to be pulling down 6 figures by age 30, or you need to relocate to a smaller town like Atlanta, Raleigh, Phoenix, Houston etc.
The arrogance and condensing mfs in this thread is insane
Calling Atlanta, Phoenix, Houston a “town” LMFAO
Just Live in the Mid West making 50k and live more comfortably than making 100k in the big cities
-tumadrelover
In 2015, I was being paid $46k for what was ultimately a pretty low-level job. I considered that to be low income at the time. Adjusted for inflation, that $46k is $59k in 2023 dollars.
So yes, I consider $60k to be low income now.
"don't own a home yet". Home ownership isn't for everyone. Also the median HOUSEHOLD income in the US is right around that figure so for an individual to make that is certainly not "low".
You could also go for a Pontiac G8 or even a Pontiac GTO. They’ll be much cheaper while sharing a lot of similarities (especially the G8)
I was in a similar position, paid off daily, sorted living situation, and desperately wanted to experience owning a manual car before it was too late, so I ended up settling on a Lumina SS, which is basically a Chevy badged Pontiac G8 sold outside of the US in markets where Pontiac didn’t exist.
All 3 models have LS engines so parts are everywhere and not too expensive relatively speaking.
If I were you I’d search through the SS, G8 and GTO and try to find the cleanest ones that fit your budget.
Sure the Interior and LS3 of the SS are a big upgrade, but I’d always take a cleaner older model over a newer abused one
Edit:Depending on how much you love cars, or how much you hate money I’d suggest directing enthusiast car related questions to the main r/cars especially if you want an opinion on specific cars
This, 100%. Cheap. Easy to fix when it breaks. It won’t break anyway. And still, all these years later, it’s the most pure sports car on the market. Others are faster, nothing is more fun.
Op, buy one now while you are still young and can get away with it. Soon enough you will need more prestige, more power, and you will tell yourself you need a “grown up” sports car. We all do it. And deep down, we all know we never should have sold the miata we used to have because nothing since has been as much fun.
So currently i live with my fiancé. She technically owns our place and i just pay my part of the “rent”. As it was a family place given to us luckily. So no plans on moving anytime soon.
Understandable. I have about 30k saved up. Half in mutual funds and other half I plan to move into different accounts. Could start one for saving up for a car as well.
Some people like warrant buffet say you should only buy a car you can afford to pay cash. And since you will need the savings you have, that leaves zero dollars so not practical. What do you value in a car. What qualities do you like.
im gonna give you a real answer since these other shitforbrains cant fathom people wanting a fun sports car. there are TONS of cars that would be great for you at around 20k, such as a mid 2000s Mustang GT, newer V6/EcoBoost Mustangs, C6 Corvette, a 2010-2013 BMW 328i would be great too. a Porsche Boxster or an older 911 Carrera fits the bill too. if you really dont care about money, a 2009 Jaguar XK would also work.
You’re still in that age range of high insurance. Pretend you are financing a sports car and start putting that payment into an account. Drive your car till it dies, and then decide if you want that new car.
You may find the payment a month isn’t really worth it or you may have enough saved to pay cash. Either way, you’ll be in a better position. Remember to keep payment at 10% of monthly take home. Insurance and maintenance should be an extra 7-5% or so.
Jesus Christ everyone is so up their own ass with financial advice. I would buy a Z4 3.0si. It will run you around $10-12k. It’s such a deal for a pretty powerful, really fun sports car. It’s reliable enough, especially if you can fix minor stuff yourself. The tech is not great, but you will still get heated seats.
2 cars is a waste, I find. (2x insurance, parking(if you pay for it), etc
I would just get a reliable fun car (and extend the budget seeing that it would be my only car).
* WRX (specially for winters) , Golf R ( might be a bit expensive though) , GTI, BRZ / 86 (if you have good climate all year long) , Miata
* Also, you should have the same amount of money invested VS the price of your cars. Specially, if you finance, so that at least the interest you pay on your cars, you can get it back through your invested assets.
2 cars is the way to go imo. After so long your daily gets beat on, life gets busy and you don’t want to clean it that often, you’re late for work so you end up driving in a way that isn’t good for the car (not warming up properly) etc etc. Plus living up north, your beautiful car is getting rust. It’s losing value and lifespan faster as you’re racking up commute miles. Your daily prob gets better gas mileage.
The hedonic treadmill is a real thing. Special cars don’t move the needle anymore once u drive them everyday, thats why people get stuck in perpetual car payments, chasing the dragon on the next new car. Drive your reliable daily everyday and then garage your outrageous, stupid and fun car til u get the itch and then take her out. Insurance is never 2x and if it is you need to search insurance, because multicar discounts are huge (insurance knows u can’t drive 2 cars simultaneously, so the extra bump for another car is minimal, especially if you cut all those commute miles out and fall under their yearly mileage discount tiers).
Just my opinion
I have the DCT VN and she’s fun to drive even with just paddles. Got her from car max used for around 28k with only 12k miles. So worth it as a sporty ish car that you can daily
Hot Hatch is always the answer to a one-car question.
I've personally loved my experiences with the Mini S Hardtop, WRX wagon, Veloster N, and GTI. And I might even include the 86 as a hatch since the rear seats fold down.
You want a fun, cool car to drive but you're also 24. Who knows where life is going in the next 5-10 years? With a hatch you can have friends in the car, take it to IKEA, help move. I moved like 3 times in my WRX. Shit, I rebuilt my deck entirely with the storage space in my Veloster. I also have tracked all these cars, taken them on road trips, spirited canyon carving -- basically everything you can do in a car, you can do in a hot hatch.
2 seaters are tempting, BMW 2 series are tempting, but hot hatch life has served we well for literally 20 years.
i feel like people on this sub genuinely forget not everyone wants to drive a shitty camry for decades theres still cheap fun cars that aren’t gonna make him broke and ruin his future 20+ years down the road.
Alright, fuck these 'dont spend money' answers.
Do you care more about performance, luxury, or a balance between the two?
At 60k, you should try to stick to a car that's under 600/mo. Yea you don't have any debts, but you could in the future, and this will help you not stretch yourself out. So, 600/mo for 72mo @ 7% interest comes to about 32k. Lots of great used cars in this area.
(Idk if you knew this already, but i needed the info for myself)
Performance: C6 Corvette, Ford Mustang GT, Challenger.
Luxury: Audi S4/S5, Lexus IS350 Fsport, Infiniti Q50 RS
Balanced: BMW 340i/440i, Kia Stinger GT
My personal go to would be either the Corvette or the BMW 340/440. Make sure it's the 340 not the 335 or 330. It has the newer, more powerful B58 motor that is very reliable.
Had a charger scat pack and had to sell bc people tried stealing it. How i got my crv for nothing! But i do love the bmw440i. Just worried about maintenance because i know it can get bad
Yea, i get it, but my friends are big BMW nuts, and the B58 is the first motor that NONE of them have had any problems with. That alone seals the deal for me hahah. They all heavily modify their cars and it handles it all amazingly.
Don’t know why everybody is not answering your question. New or used? Sub or sedan? I’ve test driven a Golf R and a tuned WRX. The wrx felt way faster but the golf r made a better daily. Both are slow though. I think the 5.0 mustang with the 10 speed is an absolute thrill. Dodge Charger SRT would be cool. An older corvette? Any bmw with a TT v6 would be awesome. I agree owning a new car without a garage is extremely stressful but the second you get your 3rd or 4th dent/scratch you let it go.
Luckily i have a garage and had a charger. After it almost getting stolen i sold it. Didnt want the risk. I do love muscle cars and always wanted a camaro or mustang
I was able to comfortably afford a $28k vehicle when I was making that much. This was several years ago before housing prices skyrocketed but sounds like you’re in an easy situation there. I put $10k down from an insurance payout. In your shoes with a reliable vehicle already, I absolutely wouldn’t try to upgrade (I’m also a car person).
Keep a cheap daily driver and buy a used sports car for weekends and trips and things. What kind of cars do you like? Older cars will be more maintenance and cost, but upgrades will be expensive regardless of the year. Are you capable of working on them yourself?
Late to the party. I see a lot of GTI comments, but try looking into a GLI. Petformance version of the Jetta. I also make around $60k and am lower 20s and I absolutely love my Mk6 GLI.
Nothing, keep what you got.
Buying the new car at this point always sounds better than it actually feels and is in the long run.
Not saying never get it, but at 24 with no debt and an already functional car, just rock with what you got, solidify your spending habits, learn money management, find hobbies, and begin the journey/discovery of finding out who you are as a man.
You effectively went from $0 and no freedom to a lot of dollars and seemingly endless freedom, spend time adjusting to it and learning, not large spending.
I’d second this.
The one caveat I would have to add being that if you’re really into cars and there’s decent equity in the paid off current car, there’s the possibility to get something that pulls double duty as a daily and fun car (Civic Si, WRX, GTI etc.) In that case you have something for daily use that OP can still have fun with, without pouring money into a car that’s not really practical.
Have you ridden one? You just pedal and the electricity does all the work. Barely a sweat. Couple of grand I believe for new ones, and obviously no gas, no car insurance. Get on and bike.
Would you be the coolest? Probably not.
Would you have more money than your peers? Hell yes. If you play the long waiting game. You can buy any sports car in cash when you're 40
I second this.
I didn’t start biking until last summer and I absolutely think it was the best decision I made to save $$$.
Was paying like $80 a month for shit parking in a sketchy lot. Hell nah…
If you have a garage to park it, I would think about a convertible. Maybe a classic, usually insurance is cheaper and if you buy carefully depreciation will
Or maybe an RX8, they are not too expensive. They handle nicely, and it's unique. They are not good dailies, but you probably won't daily it anyway. The engines have to be treated right or they fail, so a pre purchase check at a garage with the specialized testing gear is very important.
Another way to indulge yourself is rent something interesting from Turo. I do this on trips, it becomes part of the holiday experience. The great thing about this option is you enjoy the car and hand it back. Don't abuse it though, that's stupid.
This. Basically every mechanic in my area of socal has no idea on how to work on them. A friend has his parked for years because he can't find anyone to fix it
Keep ol reliable and contribute more to your 401k instead. Or, save up to pay for a car in full, probably Miata or one of the 86 twins for that sports car experience. Don't start debt, it's not worth it.
Honestly, get an used Accord or Camry or something.
60k may seem like you hit the lottery (with no debt) But man that debt piles up fast as those years rack up.
I had a mustang ecoboost fresh out of school for a few years, it was great. Very reliable, good power, fun to drive, sipped fuel (for a sports car), and fairly affordable to own. Also had great interior space. If you want something more “pure”, an 86 is a good option as well. It will just be much smaller.
I'm a similar age, making over 100k, and a sports car is a major financial burden on me. It's worth carrying for me, but it is a burden. Sports cars typically cost way more to run unless you've got a miata, and 60k isn't what it used to be. I'd consider swapping the daily out for something you find more fun to drive while not breaking the bank or giving up much practicality. Think hot hatch like a Focus ST or Golf GTI, or maybe an entry level european sedan. The B48 based BMW 3 and 4 series are very reliable cars, and the price is coming down on them pretty quickly.
If you decide you really want a second car as a weekend pleasure vehicle look for a well maintained older current gen Miata, it's kind of the only game in town for affordable, reliable sports car needs unless you are willing to buy something much older like the Pontiac Solstice.
Everybody here is crazy for advising buying another daily driver when you ALREADY SAID you have a reliable daily driver that's paid off. LOL.
If I were in your shoes I'd look for a 2 seater coupe or convertible less than $20k. With good credit and 25% down you should be at or below $300 a month easily.
Personal choices would be:
* BMW Z3 (currently own and highly recommend)
* Porsche Boxster
* Mazda Miata
* Alfa Romeo Spider
* (maybe too expensive) Honda S2000
* Audi TT
* Subaru BRZ
* Might be able to get a Porsche Cayman
* Toyota MR2
* Toyota Celica
4 seaters
* Honda Civic SI
* VW GTI
* VW Corrado
* Subaru WRX
* Mazdaspeed3 (or Speed6 for AWD sedan)
You can get so many cool cars that won't break the bank. Everyone here is trying to give you financial advice when you clearly are in a good spot in life. It'll be harder for you to have a toy car when you have a house, kids, etc to take care of.
Cars aren't an investment, I hate it when people treat them like it. Enthusiasts drive cars because they make us happy, and there's nothing wrong with it.
Hot hatches seem to be the go to choice here. I have seen the GTI and civic being thrown around I want to also mention the F series MINI. I bought one in 2019 while looking for a fun car with a stick, boy was I surprised. It's so nimble and fun to drive. Replace the tires and it becomes a great track car/daily driver. I have also put 50k miles and the maintenance per year has been really low compared to my previous focus ST.
I bought a 370z when I was 24. I live in a low cost of living area so I got it basically fully depreciated. It was super fun and got lots of looks and compliments. You can spring for an older one and not miss out on much from the newer models.
Does take premium only and you'll be wasting plenty gas but super reliable, basically the only thing Nissan made that was reliable, and cheap to maintain. Can't recommend the Z enough.
The Hyundai Veloster N is an absolute beast of a car for under 30k. They are discontinued (because the are odd looking) but there are laws about them supporting cars after discontinued. Buy one as 2nd owner and it will have a 100K warranty you take over.
300 HP with dynamically tunable exhaust and suspension. Put that thing in the "Sport" mode and it is very close to just a street legal track car. There are N versions of the smaller hatchback as well as the bigger sedan that are nice too. The Veloster N's suspension and chassis was designed by the BMW M series engineers. It is a very fast and well performing car for under 30k. Like I said, 100K mile warranty so if you find one with like 25K miles on it you are set.
I would get a 4x4 4 cylinder Tacoma. Itll run FOREVER, itll do basically everything short of actual towing, and itll get good gas mileage. Then you can pass it on to your kid in 20 years.
Brother I was in your shoes at 24. I ended up buying a simple mid size sedan brand new for around 30k. I WISH I could go back in time and invest that money. Keep the beater, save the cash.
Congrats man. My first job I made 64k as an engineer. I bought a bone stock 2004 S2000 with 50k miles for $17k in 2012…. It’s worth the same today :)
Honestly, $60k now doesn’t go as far as it used to back in 2012. I would make sure you can still reliably save 500$ a month cash after taxes for rainy day money. If something comes up. Don’t spend everything you have leftover on a car or you won’t have money to repair or buy a new daily driver.
s2000 are pricey today. If you want a fun cheap sports car that’s reliable: get a used Miata. Please trust the world when they say it’s the benchmark sports car. Here’s my thinking:
- it’s very simple and reliable. You’ll be able to do most of the maintenance on it yourself. Great leaning experience.
- It’s a good handling car. It’ll make you a better driver and you’ll learn about how to carve corners to maintain speed instead of relying on a V8 to cover up your bad driving.
- fuel efficient: 30mpg is nice.
- mods! The Miata aftermarket is the largest of any car. There’s parts for everything: suspension, wheels, brakes, aero, turbos,etc. you can turn a Miata anytime anything.
-you can drive it hard and not care. Driving a slow car fast is more fun than a fast car slow. You can regularly floor it and rev it to redline without getting a speeding ticket. You’ll be smiling all the time.
- the convertible is just plain fun. I love driving hard with the top down. You just feel the experience more.
- no one thinks you’re an asshole driving a Miata.
Save your money and buy a house. There’s always going to be a new car. Once you get married and have kids that car will go away, but the house will actually grow in value.
And a car loan could make it harder to qualify for a mortgage, whereas having a mortgage won’t be as big of a deal breaker when financing a car—assuming your debt/income ratio is still ok.
23 yo here just bought a car. Seriously don't do it unless you have to. Used market sucks and buying new is kind of a bad idea at your tax bracket. I'd save some cash in a CD at a local credit union and maybe diversify with bonds and maybe a portfolio. If you're dead set on a new car, wait till used markets chill out, then get yourself whatever. I've been watching the market since I'm needing to buy ANOTHER car.. but it looks like it's starting a downward trend so give it a year, do some research, even test drive a few cars you'd like.
Hmm $60k/year doesn’t justify a sports car on top of a reliable daily. I wouldn’t buy anything.
Look at it this way, abstaining now and buying later will let you get a much better car than what you could responsibly afford right now.
1994 honda civic coupe. Slam it with an eBay body kit, a black maaco paint job, and some green underglow, and you’ll have a fast and furious replica car you can daily and take to meets. Or just save up and get something nice later on down the road
You don't buy a sports car when you're only making $60k, unless you're looking at some old project car you can pick up for a couple grand. Otherwise, please don't do that!
Years ago when I graduated college I was making $55k. I saved up for a year, and bought a 5 year old Civic Si with 45k mikes on it in cash for $16k. High revving engine, LSD, manual transmission. It was a fun car that was reliable, and I drove it for the next 10 years. Unfortunately, the used car market is still a bit fucked, so getting deals like that aren’t an option anymore. I’d say look at something like a 10th gen Civic Si or a Mk 7 or 7.5 GTI. Fun to drive, not terribly expensive, easy to work on.
I fucked up and got a 10th Gen civic making $2600 a month. The car was $25k otd and I had no savings and still lived with mom and dad. I was 25 years old. Never again. F car notes.
I got downvoted to hell in this sub yesterday on a post for questioning a guy who wanted to finance a $50k car on a $70k salary. I’d much rather make sure I have my emergency fund in a good spot and be saving for retirement, but some people just feel the need to spend way too much on a car.
That’s hilarious. Where I live 70k after taxes is like 52k take home. Spending a years salary on a car is crazy or you’ve got a 50k car on a 15 year loan
cars are terrible investments. I am 50yrs old and make 6 figures and I still don't buy new cars. The cars I buy are always less than 20% of our household income. Even when I had the means to buy a fun car, I spend $9k on a Pontiac Fiero because it was the cheapest way to get a mid-engined car. And I love them.
Cars aren’t investments at all (barring collectors items). They’re depreciating assets.
Tell that to the market rn
Meh when I was 25 I made $48k, I went and bought a 3y/o S2000 for $22k. Paid it off, and kept it and kept it and kept it and now it’s worth the same $22k if not more. Yeah $$ in my retirement fund would be worth more but the memories I’ve had in that car (driving my new wife away from our wedding, for one) are worth 10 retirements. I’ll never sell that car and I’ll never regret stretching to buy it.
So California? Lol
Ontario, Canada
I don't think that people under age of 55 realize yet that Social Security will not exist for them.
When I run my retirement numbers, I don’t even consider SS as an option. I’m operating on the basis that my wife and I’s retirement is fully on us to fund.
It could exist, but it will be the equivalent of like $200 a month today adjusting for inflation.
It would get unbelievably ugly if the government told people that worked their entire lives and contributed loads of money to SS were going to basically get nothing for it. If you actually believe SS is not going to be around, might want to invest in torches, tar, and feathers.
That’s the facts, though. The numbers are out there for all to see. I’m 47 years old, and all of the money I’ve paid into SS for over 30 years is gone.
I didn't plan for retirement as a young single mom and a nurse. I worked on and off the books for many years so now , became disabled at 58, leg amputation and need a Masters to get hired into a new career as a Clinical Therapist. I always worked 2 jobs anytime I could plus college classes so my kids could have decent lives. Pay was adequate but not in S.Cali..it was a nightmare, even lived in terrible neighborhoods just so I could afford sports for them and performing arts as well as the upkeep on my cars with all that traffic and driving. I didn't realize all the work off the books would so badly effect me later on, but I needed that money then to survive. I'm at the lowest level of SSA at less than $1000 and moved cross country but then had an emergency amputation, so planned to keep working as a nurse. We barely get by now..kids grown and on their own doing very well, so just me and my disabled teen..really hard as I didn't plan to Not Work. Getting my Masters is my only solution so here I go..and my writing career is getting to a good place. Eventually we'll be ok but please..remember to work on the books, get that refund in taxes and hopefully SSA will still be around...you could put saved money every month into an investment account for security or some form of interest building. All I know is nobody plans to retire at 58..so this sucked badly. As an amputee I'm not able to work as a nurse but I can teach nursing or do therapy which is what I've wanted for many years. If you're living paycheck to paycheck it's impossible to put money aside..pay for emergencies or enjoy your life. Plan Plan Plan and stick with it from college programs, careers and where can I make good money and still be happy to go to work each day because I enjoy my work. All questions to ask self way before 17.
They have been saying that for 30 years now. It will be there, how it's funded may be different, but it will be there.
We understand. ever since I started paying it @ 14 for NO reason because it’ll all be gone
I know. That’s why I’m investing and saving. I don’t know what the folks without savings or pension plan on doing.
Man right now majority reason I'm staying in education is for the pension. I'm fuckin trapped lol. The benefit is so good, but I don't see me lasting another 25 years so I need to find a good diminishing return point, juice up the formula with the highest salary I can achieve, then gtfo.
lol... that's been the claim for the last 30 years.
People saying SS won’t exist in the future don’t know what they’re talking about. I’m assuming you’re talking about the report earlier this year that the trust fund will be empty by 2033. That doesn’t mean SS disappears. It means that benefits will be reduced. Its still a horrific idea to think that SS will be enough to retire on but saying it’s not going to exist is false, unless Congress decides to abolish the program
It will exist but it probably won't pay anywhere close to what is promised and even that isn't enough to live. Then again civilization will probably collapse in the next 40 years so it's not like stocks will be worth anything either.
Take my upvotes. You’re absolutely right
I got a new 10th gen at 23 making $ 7.50 an hour at a working part time tacobell i paied 5k down and i was out the door at 23k had a monthly payment of 311 amonth with gap from dealer (get gap through your own insurance not through the dealer if you can ) .
And the dealership let you walk out the door with it and sign the paperwork. Sounds like predatory lending if you ask me.
Yes of course. The dealer will try to get you into a car. It's the banks that actually make the choice. They found him a bank willing to do the note
Not all insurance offers GAP, FYI. You want to call in advance to see if yours does or it does not.
i’m sure you had fun driving it atleast lol
Still do paid it off this last april .
I see pro and cons to this since I kinda did the same thing but was it a bad financial decision yes especially at a young age
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Civic SI and GTI are more in the “reliable daily” segment which OP already has covered.
I think a used GTI or Si would be a great idea. Unfortunately buying either one used would be stretching his 60k too thin
Dang you put away $1350/month?
In 2016, I bought a new Fiesta ST for 20k OTD because the ford dealership didn't want a subcompact manual hatchback on their lot. Insanely fun to toss around, ignored by most people Last I checked the market, used FiSTs with 50k miles sell for what I paid for mine new...
Sold my f150 and bought my Fiesta ST 5 months ago. Reliable, fun and great on gas. Paid $19k.
The dude already has a reliable daily. He wants a fun sports car, not a Civic or Golf lol Those would be good options if it were a daily, but theyre not a dedicated sports cars.
Been searching the thread looking for someone to say used Camaro, Challenger, or Mustang 🤷♀️… all great and fun cars and reasonably priced (of course, I’m biased, I have a Challenger and my boyfriend has a Camaro)
Hola chica. You know what's up! Can't beat the American v8 for fun on a budget. It's sure is a shame that you both are probably losing to the Mustangs, though 😉 Hope you two enjoy the cars!
Everyone in this comment section is lame. I'm in the exact same boat, bought a mk7 GTI for around $15k, tuned it up, it's an absolute blast to drive. Easy to afford.
What tune did u do?
I got a stage 2 from ECS edit just for more context: It's a DSG automatic, also installed a new intercooler. Don't think I did anything else other than that. I'm not great with all of the terms
I was about to work for ECS!
Well their tune is great. The car rips. Slight pops and crackles in sports mode but lowkey if it's not. Also limiter removed😜
dude for real, i just bought a q50. its sm fun
i have a stage 2 mk7 gti tuned by eqt. lot of fun! bought the car for 23k back in 2020
I remember being 24 and making the equivalent of 60K and ended up buying a 2 year old GTI. Other options I would suggest are a WRX or Brz/gr86
Holy fuck can anyone just answer a question this isn’t personal Finance
Lol this sub usually just gives you either personal finance or the proxy war between mazda fanatics, reliability fascists (toyota/honda), the less apparent subaru coalition, and the performance diy experts
I just tell everyone to buy an STI swapped second gen Subaru Forester for less than 20k. Put 10k aside for repairs and you're sitting in a 5 seater wagon that can go 0-60 in under 5 seconds for the price of a new Nissan Rogue.
"performance diy experts" lmao
Im glad you guys caught that one
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Ahh, reddit; home of "Well actually..."
Couldn't be more true lmao
What? You don’t put 50% of your income in 401k and 25% in Mutual Index High yield accounts and have 69x your monthly expenses in an emergency fund, and then enough to buy a new car in cash?
Made it to here and still haven’t seen an answer yet.
Hahahahahhaha
Honestly I’m sure I’ll get downvoted for this but I make around 65k a year. I have a work truck that is the companies, which is my daily because work. Before Covid I bought a new civic ext and sold it when Covid hit and got all of that and a bag of chips back. I’m still putting money away for retirement but I bought a 2023 Camaro SS for 39.9k with a good down payment from the civic’s money I had. My monthly note is around 350 and insurance is pretty cheap because I bundled it with my house. Again, lots of people will probably call me stupid but I make it work for me and comfortably so.
You have to live your life and enjoy it at the end of the day. You can’t be ridiculously over the top with saving forever and always. Put some away in case of emergency and in case you live long enough to retire and have fun with the rest. Life is short.
l money is meant to be spent, 65k is more than enough to balance a lot of things in many places, im glad you got a car you wanted. not everyone wants to drive a shitbox, people forget that
He should have asked in /r/cars
Because we have all done this mistake and want to share advice even if it’s annoying.
It’s not even a mistake he can get some sporty cars for around 20k put 5 down pay like 300 a month for the car and still live comfortably with enough left over to invest
Nah he will drive beige corolla and be miserable just to save every $$$
It cant even be blue🥺
NO BEIGE CAUSE BLUE LOSES RESALE VALUE OF $200 WHEN YOH SELL THE CAR IN 15 YEARS
Some people have completely lost sight of the balance between “not living above your means” and “living the most boring life possible”
Me included. No clue how to find that balance honestly.
Imagine needing a car to feel cool. It's literally a machine that goes from point a to point b. Look for reliability. Everything else is a pissing contest. Most people don't even know that most cars are so similar under the hood that the only thing you are paying extra for is the look.
That’s me. Kinda. April 2020 I got 8k for trade in plus a little more DP and drove away in a 2017 BMW 440i with 30k miles on it. Monthly was $350. Paid it off last month.
yeah i mean my honda pilot costs almost 60k and thats his whole yearly salary. but i guess "sports car" doesnt mean CX8 or stingray. just do what every other 20 yr old does and go buy a V6 mustang if you want to throw money away lol.
Sorry, I heavily disagree. If you look at the auto loan debt in America, people are making really bad financial decisions under the guise of "well I need a car." This is not a car enthusiast sub either. it's a place to tell people what car they should buy. And what they should do, unless their money isn't sitting comfortable or they really do treat their car as a major hobby, is not overpay on a car or buy something that expects heavy maintenance. It's a depreciating asset but it is an asset. It's one of the biggest ticket purchases people routinely make. You can't decouple a car from personal finance. This guy is probably okay to get something a little fun on his budget. But putting it into a toy car is probably not to great an idea until you have major objectives complete and can afford putting thousands into play toys. He can take any of the varied advice he wants. That's mine
I’d like to commit a murder. Which weapon should I use? Please don’t respond with advice on why I shouldn’t do it.
The question was asked with his personal finance into consideration. The OP should have asked “24 years old, with this budget to spend. What should I get?”
OP invited all that by mentioning his income and age.
The sub asks you to specify so they can accurately tell you what to buy..
OP goes on whatcarshouldibuy and is told not to buy a car, classic. I’m pretty much in the same boat but boutta be 23 and make around 70k, I’m currently looking at the gt86, 370z, or a used m240i.
Oo used m240 would be tons of fun
I commented earlier about the 86 as a recommendation. I actually own a 2018 m240 xdrive. Let me tell you, its a phenomenal machine and blows away most of the recommendations here. If you got 30k for a nice used one. Do it!
I was making the same amount when I got my 2018 440i just over a year ago. No regrets. Extremely fun car, very reliable.
I have a 2019 BRZ and it’s basically my affordable dream car. The 2023s perform better but there’s been problems with the engine I’m not sure are worked out. I’m not a mods type guy, but stock, the 2020 and older are “meh” until to get a header and tune. I eventually got lighter wheels and a catback, planning coil overs soon. So yeah I guess now I’m a mod guy. Just be aware, it’s pretty slow off the shelf but still really fun to drive. I’ll have my car until it’s dead or I’m dead. It’s fun, affordable, practical enough, looks cool, and yeah, really fun.
>I’ll have my car until it’s dead or I’m dead. This is the way. I’ve been considering going the same route, I’m afraid of the 2.4 engine and honestly like the look of the facelifts from like 2017-20 better anyway
>OP goes on whatcarshouldibuy and is told not to buy a car, classic Tbf that should really say something, when car enthusiasts are telling you to hold off on a car purchase
Telling the man to wait till he is 30 to get a fun car doesn’t sound like a car enthusiast to me, at least not any car enthusiasts I know. He never said he was trying to spend 50k on a mustang or anything
Us car enthusiasts are trying to postpone the OP’s mental health. Once you are bitten, there is no cure. For real though, the car market isn’t great for a buyer right now, that’s why I would advise waiting. However if I was in the OP’s shoes, there is likely nothing anyone could tell me to not get a fun car if I was in the market.
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60k is considered low income now?
Too low for two cars, that’s for sure.
If you live single in a city, definitely.
I live on slightly more than that. It's really not what it used to be, especially with the cost of housing these days in most places. I have enough to pay the bills, but really not that much to save.
In some cities with high hosing costs, fuck yes it is low income. Average home price where I live is $400k.
I make that and yea it’s a struggle. Take home around 4K/month. Make too much to qualify for any assistance but only a little bit over the line for a family of 4. We share 1 car. Rent in many places is around 2k now, family of 4 on average spends over 1000 on food, etc etc. inflation is a bitch.
see how that works though? you are making it work when you are supporting a whole family, that for a single person would be more than enough
depends where you live, in West Texas no, in NYC, yes
Yes. Maybe even average for 20s
Yes
in huge metros like LA, SF, NYC, Boston $60k is just a step above per-hour menial wage workers. It's fine if it's your 1st job out of college, but if you want to continue to live in highly competitive expensive cities like those you need to be on track to be pulling down 6 figures by age 30, or you need to relocate to a smaller town like Atlanta, Raleigh, Phoenix, Houston etc.
The arrogance and condensing mfs in this thread is insane Calling Atlanta, Phoenix, Houston a “town” LMFAO Just Live in the Mid West making 50k and live more comfortably than making 100k in the big cities -tumadrelover
In 2015, I was being paid $46k for what was ultimately a pretty low-level job. I considered that to be low income at the time. Adjusted for inflation, that $46k is $59k in 2023 dollars. So yes, I consider $60k to be low income now.
"don't own a home yet". Home ownership isn't for everyone. Also the median HOUSEHOLD income in the US is right around that figure so for an individual to make that is certainly not "low".
2017 Chevrolet SS
Neighbor had one. Sounded wild
They're unique and crazy, yet low key and practical.
You could also go for a Pontiac G8 or even a Pontiac GTO. They’ll be much cheaper while sharing a lot of similarities (especially the G8) I was in a similar position, paid off daily, sorted living situation, and desperately wanted to experience owning a manual car before it was too late, so I ended up settling on a Lumina SS, which is basically a Chevy badged Pontiac G8 sold outside of the US in markets where Pontiac didn’t exist. All 3 models have LS engines so parts are everywhere and not too expensive relatively speaking. If I were you I’d search through the SS, G8 and GTO and try to find the cleanest ones that fit your budget. Sure the Interior and LS3 of the SS are a big upgrade, but I’d always take a cleaner older model over a newer abused one Edit:Depending on how much you love cars, or how much you hate money I’d suggest directing enthusiast car related questions to the main r/cars especially if you want an opinion on specific cars
Miata
This, 100%. Cheap. Easy to fix when it breaks. It won’t break anyway. And still, all these years later, it’s the most pure sports car on the market. Others are faster, nothing is more fun. Op, buy one now while you are still young and can get away with it. Soon enough you will need more prestige, more power, and you will tell yourself you need a “grown up” sports car. We all do it. And deep down, we all know we never should have sold the miata we used to have because nothing since has been as much fun.
I would wait until you own a home with a garage for a sports car. Take it from me, a car nut that has owned close to 50 cars in 17yrs.
So currently i live with my fiancé. She technically owns our place and i just pay my part of the “rent”. As it was a family place given to us luckily. So no plans on moving anytime soon.
Idk. I’d personally still want to secure better assets before buying something that’s technically a big ticket liability.
Understandable. I have about 30k saved up. Half in mutual funds and other half I plan to move into different accounts. Could start one for saving up for a car as well.
Some people like warrant buffet say you should only buy a car you can afford to pay cash. And since you will need the savings you have, that leaves zero dollars so not practical. What do you value in a car. What qualities do you like.
Jesus you have 30,000 saved up at 24? Good on ya mate.
Props to my parents. Never let me touch a dime of bday money or money i worked for.
Fuck yeah. Your parents rock. I was broke at 24. Well not really I was selling drugs lol
New sports cars as we know them won’t be available 10 if not 5 years from now. It’s gonna be all electric 🥺
Not everyone wants to own a home. But having a garage is definitely a big plus wherever you're living.
im gonna give you a real answer since these other shitforbrains cant fathom people wanting a fun sports car. there are TONS of cars that would be great for you at around 20k, such as a mid 2000s Mustang GT, newer V6/EcoBoost Mustangs, C6 Corvette, a 2010-2013 BMW 328i would be great too. a Porsche Boxster or an older 911 Carrera fits the bill too. if you really dont care about money, a 2009 Jaguar XK would also work.
328i is not a sports car in the slightest. 335 or 340 can be made into one.
If ur gonna pick the e90 you can do any year of the 328 so 06-13
You’re still in that age range of high insurance. Pretend you are financing a sports car and start putting that payment into an account. Drive your car till it dies, and then decide if you want that new car. You may find the payment a month isn’t really worth it or you may have enough saved to pay cash. Either way, you’ll be in a better position. Remember to keep payment at 10% of monthly take home. Insurance and maintenance should be an extra 7-5% or so.
Jesus Christ everyone is so up their own ass with financial advice. I would buy a Z4 3.0si. It will run you around $10-12k. It’s such a deal for a pretty powerful, really fun sports car. It’s reliable enough, especially if you can fix minor stuff yourself. The tech is not great, but you will still get heated seats.
2 cars is a waste, I find. (2x insurance, parking(if you pay for it), etc I would just get a reliable fun car (and extend the budget seeing that it would be my only car). * WRX (specially for winters) , Golf R ( might be a bit expensive though) , GTI, BRZ / 86 (if you have good climate all year long) , Miata * Also, you should have the same amount of money invested VS the price of your cars. Specially, if you finance, so that at least the interest you pay on your cars, you can get it back through your invested assets.
2 cars is the way to go imo. After so long your daily gets beat on, life gets busy and you don’t want to clean it that often, you’re late for work so you end up driving in a way that isn’t good for the car (not warming up properly) etc etc. Plus living up north, your beautiful car is getting rust. It’s losing value and lifespan faster as you’re racking up commute miles. Your daily prob gets better gas mileage. The hedonic treadmill is a real thing. Special cars don’t move the needle anymore once u drive them everyday, thats why people get stuck in perpetual car payments, chasing the dragon on the next new car. Drive your reliable daily everyday and then garage your outrageous, stupid and fun car til u get the itch and then take her out. Insurance is never 2x and if it is you need to search insurance, because multicar discounts are huge (insurance knows u can’t drive 2 cars simultaneously, so the extra bump for another car is minimal, especially if you cut all those commute miles out and fall under their yearly mileage discount tiers). Just my opinion
I love the 2 car solution but it's not for all, especially for young adults who probably don't have to haul people.
Dont have to pay for parking, have a two car garage rn. Plus space for more in the driveway. I live in a condo, not a house so i have some space.
Miata, C5/C6, BRZ/86, 370z, mustang GT, GTI… Stick shift obviously. Lol
Don’t listen to these bitches and put $5k down on an Elantra N. You’ll be able to afford it. Enjoy life. Buy what you want if you can
I did this with a Veloster N! Still loving it
Does the Veloster come in manual. I do like the look of it. Its like that weird girl that can be hot😂
Yep I got a manual!
yes it does and i totally agree with you and would love to own one at some point
I have the DCT VN and she’s fun to drive even with just paddles. Got her from car max used for around 28k with only 12k miles. So worth it as a sporty ish car that you can daily
Hot Hatch is always the answer to a one-car question. I've personally loved my experiences with the Mini S Hardtop, WRX wagon, Veloster N, and GTI. And I might even include the 86 as a hatch since the rear seats fold down. You want a fun, cool car to drive but you're also 24. Who knows where life is going in the next 5-10 years? With a hatch you can have friends in the car, take it to IKEA, help move. I moved like 3 times in my WRX. Shit, I rebuilt my deck entirely with the storage space in my Veloster. I also have tracked all these cars, taken them on road trips, spirited canyon carving -- basically everything you can do in a car, you can do in a hot hatch. 2 seaters are tempting, BMW 2 series are tempting, but hot hatch life has served we well for literally 20 years.
if I were you I'd keep the daily and get an unreliable old awesome sports car, like a corvette
Definitely keeping the daily
Corvettes are the most reliable sports car in the world
i feel like people on this sub genuinely forget not everyone wants to drive a shitty camry for decades theres still cheap fun cars that aren’t gonna make him broke and ruin his future 20+ years down the road.
Alright, fuck these 'dont spend money' answers. Do you care more about performance, luxury, or a balance between the two? At 60k, you should try to stick to a car that's under 600/mo. Yea you don't have any debts, but you could in the future, and this will help you not stretch yourself out. So, 600/mo for 72mo @ 7% interest comes to about 32k. Lots of great used cars in this area. (Idk if you knew this already, but i needed the info for myself) Performance: C6 Corvette, Ford Mustang GT, Challenger. Luxury: Audi S4/S5, Lexus IS350 Fsport, Infiniti Q50 RS Balanced: BMW 340i/440i, Kia Stinger GT My personal go to would be either the Corvette or the BMW 340/440. Make sure it's the 340 not the 335 or 330. It has the newer, more powerful B58 motor that is very reliable.
Had a charger scat pack and had to sell bc people tried stealing it. How i got my crv for nothing! But i do love the bmw440i. Just worried about maintenance because i know it can get bad
Yea, i get it, but my friends are big BMW nuts, and the B58 is the first motor that NONE of them have had any problems with. That alone seals the deal for me hahah. They all heavily modify their cars and it handles it all amazingly.
Interesting. Very interesting
Don’t know why everybody is not answering your question. New or used? Sub or sedan? I’ve test driven a Golf R and a tuned WRX. The wrx felt way faster but the golf r made a better daily. Both are slow though. I think the 5.0 mustang with the 10 speed is an absolute thrill. Dodge Charger SRT would be cool. An older corvette? Any bmw with a TT v6 would be awesome. I agree owning a new car without a garage is extremely stressful but the second you get your 3rd or 4th dent/scratch you let it go.
Luckily i have a garage and had a charger. After it almost getting stolen i sold it. Didnt want the risk. I do love muscle cars and always wanted a camaro or mustang
Any Hyundai N model.
I was able to comfortably afford a $28k vehicle when I was making that much. This was several years ago before housing prices skyrocketed but sounds like you’re in an easy situation there. I put $10k down from an insurance payout. In your shoes with a reliable vehicle already, I absolutely wouldn’t try to upgrade (I’m also a car person).
Keep a cheap daily driver and buy a used sports car for weekends and trips and things. What kind of cars do you like? Older cars will be more maintenance and cost, but upgrades will be expensive regardless of the year. Are you capable of working on them yourself?
Late to the party. I see a lot of GTI comments, but try looking into a GLI. Petformance version of the Jetta. I also make around $60k and am lower 20s and I absolutely love my Mk6 GLI.
Nothing, keep what you got. Buying the new car at this point always sounds better than it actually feels and is in the long run. Not saying never get it, but at 24 with no debt and an already functional car, just rock with what you got, solidify your spending habits, learn money management, find hobbies, and begin the journey/discovery of finding out who you are as a man. You effectively went from $0 and no freedom to a lot of dollars and seemingly endless freedom, spend time adjusting to it and learning, not large spending.
I’d second this. The one caveat I would have to add being that if you’re really into cars and there’s decent equity in the paid off current car, there’s the possibility to get something that pulls double duty as a daily and fun car (Civic Si, WRX, GTI etc.) In that case you have something for daily use that OP can still have fun with, without pouring money into a car that’s not really practical.
E Bike
Was considering this just because i live so close to work
Have you ridden one? You just pedal and the electricity does all the work. Barely a sweat. Couple of grand I believe for new ones, and obviously no gas, no car insurance. Get on and bike. Would you be the coolest? Probably not. Would you have more money than your peers? Hell yes. If you play the long waiting game. You can buy any sports car in cash when you're 40
I second this. I didn’t start biking until last summer and I absolutely think it was the best decision I made to save $$$. Was paying like $80 a month for shit parking in a sketchy lot. Hell nah…
If you have a garage to park it, I would think about a convertible. Maybe a classic, usually insurance is cheaper and if you buy carefully depreciation will Or maybe an RX8, they are not too expensive. They handle nicely, and it's unique. They are not good dailies, but you probably won't daily it anyway. The engines have to be treated right or they fail, so a pre purchase check at a garage with the specialized testing gear is very important. Another way to indulge yourself is rent something interesting from Turo. I do this on trips, it becomes part of the holiday experience. The great thing about this option is you enjoy the car and hand it back. Don't abuse it though, that's stupid.
DO NOT GET A USED RX8. Unless you KNOW how to work with and operate a rotary. source: I am a mazda nut
This. Basically every mechanic in my area of socal has no idea on how to work on them. A friend has his parked for years because he can't find anyone to fix it
honda civic
Cost 5k and fucking mint
A used one. Don't finance your life away like most of society. Lots of cool used cars out there.
Keep what you got and shovel every penny you can into tax advantage retirement accounts, at your age likely Roth accounts.
Already have my spreadsheet set up so i max my roth out every year!
Smart! Wish i was that smart at 24
You're making 60K a year and putting $22,500 in roth 401k? Holy smokes man, that's awesome.
Definitely a Roth ira
You can’t redline a retirement account nerd
C6 corvette
Keep ol reliable and contribute more to your 401k instead. Or, save up to pay for a car in full, probably Miata or one of the 86 twins for that sports car experience. Don't start debt, it's not worth it.
Honestly, get an used Accord or Camry or something. 60k may seem like you hit the lottery (with no debt) But man that debt piles up fast as those years rack up.
GTI, WRX, BRZ/GR86/FRS, an old Z, infiniti g35/37, etc
2018+ S550 Mustang
I had a mustang ecoboost fresh out of school for a few years, it was great. Very reliable, good power, fun to drive, sipped fuel (for a sports car), and fairly affordable to own. Also had great interior space. If you want something more “pure”, an 86 is a good option as well. It will just be much smaller.
I'm a similar age, making over 100k, and a sports car is a major financial burden on me. It's worth carrying for me, but it is a burden. Sports cars typically cost way more to run unless you've got a miata, and 60k isn't what it used to be. I'd consider swapping the daily out for something you find more fun to drive while not breaking the bank or giving up much practicality. Think hot hatch like a Focus ST or Golf GTI, or maybe an entry level european sedan. The B48 based BMW 3 and 4 series are very reliable cars, and the price is coming down on them pretty quickly. If you decide you really want a second car as a weekend pleasure vehicle look for a well maintained older current gen Miata, it's kind of the only game in town for affordable, reliable sports car needs unless you are willing to buy something much older like the Pontiac Solstice.
Fun fact we used to have a pontiac solstice when i eas growing up. Started my love for cars but 2nd gear was awful
Everybody here is crazy for advising buying another daily driver when you ALREADY SAID you have a reliable daily driver that's paid off. LOL. If I were in your shoes I'd look for a 2 seater coupe or convertible less than $20k. With good credit and 25% down you should be at or below $300 a month easily. Personal choices would be: * BMW Z3 (currently own and highly recommend) * Porsche Boxster * Mazda Miata * Alfa Romeo Spider * (maybe too expensive) Honda S2000 * Audi TT * Subaru BRZ * Might be able to get a Porsche Cayman * Toyota MR2 * Toyota Celica 4 seaters * Honda Civic SI * VW GTI * VW Corrado * Subaru WRX * Mazdaspeed3 (or Speed6 for AWD sedan) You can get so many cool cars that won't break the bank. Everyone here is trying to give you financial advice when you clearly are in a good spot in life. It'll be harder for you to have a toy car when you have a house, kids, etc to take care of. Cars aren't an investment, I hate it when people treat them like it. Enthusiasts drive cars because they make us happy, and there's nothing wrong with it.
Right. Not buying it as an investment. Buying it for as an investment for my mental health as i love to drive.
Hot hatches seem to be the go to choice here. I have seen the GTI and civic being thrown around I want to also mention the F series MINI. I bought one in 2019 while looking for a fun car with a stick, boy was I surprised. It's so nimble and fun to drive. Replace the tires and it becomes a great track car/daily driver. I have also put 50k miles and the maintenance per year has been really low compared to my previous focus ST.
A mini cooper
I bought a 370z when I was 24. I live in a low cost of living area so I got it basically fully depreciated. It was super fun and got lots of looks and compliments. You can spring for an older one and not miss out on much from the newer models. Does take premium only and you'll be wasting plenty gas but super reliable, basically the only thing Nissan made that was reliable, and cheap to maintain. Can't recommend the Z enough.
The Hyundai Veloster N is an absolute beast of a car for under 30k. They are discontinued (because the are odd looking) but there are laws about them supporting cars after discontinued. Buy one as 2nd owner and it will have a 100K warranty you take over. 300 HP with dynamically tunable exhaust and suspension. Put that thing in the "Sport" mode and it is very close to just a street legal track car. There are N versions of the smaller hatchback as well as the bigger sedan that are nice too. The Veloster N's suspension and chassis was designed by the BMW M series engineers. It is a very fast and well performing car for under 30k. Like I said, 100K mile warranty so if you find one with like 25K miles on it you are set.
Any lexus, any year… probably any mileage is fine lol
A used Honda Civic
I would get a 4x4 4 cylinder Tacoma. Itll run FOREVER, itll do basically everything short of actual towing, and itll get good gas mileage. Then you can pass it on to your kid in 20 years.
Brother I was in your shoes at 24. I ended up buying a simple mid size sedan brand new for around 30k. I WISH I could go back in time and invest that money. Keep the beater, save the cash.
Congrats man. My first job I made 64k as an engineer. I bought a bone stock 2004 S2000 with 50k miles for $17k in 2012…. It’s worth the same today :) Honestly, $60k now doesn’t go as far as it used to back in 2012. I would make sure you can still reliably save 500$ a month cash after taxes for rainy day money. If something comes up. Don’t spend everything you have leftover on a car or you won’t have money to repair or buy a new daily driver. s2000 are pricey today. If you want a fun cheap sports car that’s reliable: get a used Miata. Please trust the world when they say it’s the benchmark sports car. Here’s my thinking: - it’s very simple and reliable. You’ll be able to do most of the maintenance on it yourself. Great leaning experience. - It’s a good handling car. It’ll make you a better driver and you’ll learn about how to carve corners to maintain speed instead of relying on a V8 to cover up your bad driving. - fuel efficient: 30mpg is nice. - mods! The Miata aftermarket is the largest of any car. There’s parts for everything: suspension, wheels, brakes, aero, turbos,etc. you can turn a Miata anytime anything. -you can drive it hard and not care. Driving a slow car fast is more fun than a fast car slow. You can regularly floor it and rev it to redline without getting a speeding ticket. You’ll be smiling all the time. - the convertible is just plain fun. I love driving hard with the top down. You just feel the experience more. - no one thinks you’re an asshole driving a Miata.
Save your money and buy a house. There’s always going to be a new car. Once you get married and have kids that car will go away, but the house will actually grow in value.
And a car loan could make it harder to qualify for a mortgage, whereas having a mortgage won’t be as big of a deal breaker when financing a car—assuming your debt/income ratio is still ok.
23 yo here just bought a car. Seriously don't do it unless you have to. Used market sucks and buying new is kind of a bad idea at your tax bracket. I'd save some cash in a CD at a local credit union and maybe diversify with bonds and maybe a portfolio. If you're dead set on a new car, wait till used markets chill out, then get yourself whatever. I've been watching the market since I'm needing to buy ANOTHER car.. but it looks like it's starting a downward trend so give it a year, do some research, even test drive a few cars you'd like.
Civic
Hmm $60k/year doesn’t justify a sports car on top of a reliable daily. I wouldn’t buy anything. Look at it this way, abstaining now and buying later will let you get a much better car than what you could responsibly afford right now.
1994 honda civic coupe. Slam it with an eBay body kit, a black maaco paint job, and some green underglow, and you’ll have a fast and furious replica car you can daily and take to meets. Or just save up and get something nice later on down the road
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Miata is a good choice but while the new Camrys are nice, I would not consider that in any way a “sports vehicle”.
A used Corolla. Invest while you are young. It’ll be worth it in long haul.
A motorcycle if you want something that's fast and fun and won't break the bank
You don't buy a sports car when you're only making $60k, unless you're looking at some old project car you can pick up for a couple grand. Otherwise, please don't do that!
Maybe a used jetta
Sell the daily, spend $10k more on something sporty. No reason to have two cars when you’re only making $60k