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I am a Turbo Wanker
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2,379 Posts
Discussion Starter #1
Ok, after working fulltime for 3 months after graduating from uni and getting paid sweet eff all above $33K I have moved to a new job in which I start on 41K and in 3 months will earn over $50K a year.

What sort of car should I buy bearing in mind I still live at home! Brand spanka XR6 Tubro, WRX, VYSS, XR8, 200SX, I just can't decide?!!

Please lay some suggestions down for me and if ya could how much I would be looking at a week to pay on back.

Thanks fellas!
 

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BOFH
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7,560 Posts
I cant tell you what car to get but I'll give you a tip that has worked well for me. Only ever spend on a car half the gross amount you earn a year. So if your on $50K then buy a $25K car. That way you will never get into dollar trouble. Once you have a house and all the other crap then the rules change, but for when I was young it was some of the best advice I ever got. Even today I still try to stick to it.
 

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freelance
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1,086 Posts
94ED_Fairmont said:
What sort of car should I buy bearing in mind I still live at home! Brand spanka XR6 Tubro, WRX, VYSS, XR8, 200SX, I just can't decide?!!
Get a BA your wont go wrong! pick your dealer carefully!!!



XTS220 said:
Get a bloody euro car, something small and fast!
Get a life XTS220!!! - This is a Ford Forum!!! Honestly if you carry on at your dealer anything like you carry on in your forum rant its no wonder they have you in their ignore file. Routine service costs will soon put any decent performance euro way out of reach of a $50K salary. I dont mean to be rude but an getting annoyed at your constant sniping at the BA.


Congrads on the promotion 94ED, good things come to those who wait. Buy the XR8 and pop the Herrod/Capa blower on it a little later, very economical horsepower.
 

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AUTS50 #012
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1,001 Posts
94ED_Fairmont said:
What sort of car should I buy bearing in mind I STILL LIVE AT HOME! Brand spanka XR6 Tubro, WRX, VYSS, XR8, 200SX, I just can't decide?!!
Forget the car mate, get yourself a property/house. I know I sound like an old fart but you will thank me in 10 years, or less ;) , seriously, give a good thinking.
 

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I am a Turbo Wanker
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2,379 Posts
Discussion Starter #6
Yeah I feel that even though i could stretch the budget to $45K for a car with some savings and trad in, I would be happier in something cheaper. Probably cause it can do the job just as wella s a new car and cost a whole lot less.
 

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Registered User
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708 Posts
I don't know what car you should buy but more importantly congrates on your uni degree and the new job, nice package to start with too. You've earnt it. I know it's hard advice to swallow but don't blow too much on the new car, i think Casper's advice rings true. I had my first new car for 11months, then got the shits with the repayments.
 

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P1mp Daddy
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518 Posts
Congrats mate!

Buy your first house and pay it off whilst living at home... rent it out to someone.

After that, you can use that capital to borrow money for houses and cars... its sweet.
 

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CEO - The BSR Group
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4,400 Posts
What XXXR8 and bigred said ^^^^^^

Get a house, doesn't have to be a mansion.. study the market and pick somewhere with solid growth and rental rates but still affordable. It will set you up for life! I am only now finding this out a year after buying my first house... I wish I had done it years ago!!

The car can wait - and believe me, with decent equity you will afford a MUCH nicer car than you could on a bog standard lease or loan. Be smart with your money and you will be able to enjoy much much more of it down the track.
 

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Faster than Zyrtec
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2,105 Posts
Get a second hand car. Because by the time the XR8 etc gets paid off, (or you experience a lack of social life), its not going to be worth much more than half you paid for it.

Im in the same situation as you actually, Im going to save up for the next two years though then get something which is a relatively new second hand car, something maybe ex government with about 30 or 40K on it.
 

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Now With 9 inch LSD Diff
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575 Posts
94ED_Fairmont said:
Ok, after working fulltime for 3 months after graduating from uni and getting paid sweet eff all above $33K I have moved to a new job in which I start on 41K and in 3 months will earn over $50K a year.

What sort of car should I buy bearing in mind I still live at home! Brand spanka XR6 Tubro, WRX, VYSS, XR8, 200SX, I just can't decide?!!

Please lay some suggestions down for me and if ya could how much I would be looking at a week to pay on back.

Thanks fellas!
hi i can't tell you what to buy as i'm only young but just curious as to what career you are in because the money seems quite good!
 

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do YOU have rubber?
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2,357 Posts
Mate, I must urge caution as it will be 6 - 12 months before you will really determine
(a) the stability of the job
(b) your suitability to the job
(c) your taste for the job

These things could feasibly result in you being either financially troubled or stuck somewhere you don't want to be all for a car. I resisted the urge to buy an XR8. Trust me it was hard! I took the baby for a test drive and all but in the end I've got my beloved windsor and quite a few g's in the bankaroonie. If you just can't hold yourself back. Look into novated leases. Depending on your annual kays it could work out tax effective if you are making significant money within the top tax bracket (>$52,000). There is some info on the forums.

Cheers,
!Gn|T|0n©®™
 

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Ford Appreciation Society
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3,666 Posts
Do you have a HECS bill??? If so, try and knock that over....
 

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freelance
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1,086 Posts
Come on guys give the lad a break. Finished uni he has slaved for a year or two.

We all know cars are not exactly an investment and and property is the way to go. But hey you have to live too. There is always a runaway govt bus out to get you somewhere. (especially with bob running nsw.)

Do your sums, cars are not investment material despite what anyone says. But they are lots of fun and anyone of us can catch cancer or a govt bus tomorrow. Caspers advice was best work out what you can afford, do your priorities then go car shopping.

Live life, love your fords, and grab lots of real estate on your journey. Be smart and you can have the cars and the cash.
 

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Lord of the RC
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2,515 Posts
Im in the same situation 94ED, got a nice paying job, on about $45-$48k at the moment, looking for a new car, was looking at the XR6 and the T, but thought $45k is a hell of a lot of money to be forking out, its about $1k a month.

So now i thought about maybe an ST170 $29k or a Zetec $29k with the options i want... thats only about $700ish a month, that extra $300 you can do a hell of a lot with, i too think i would be just as happy in something less nowdays... want to get a house and all that associates stuff that goes along with them in a year or so, so need to start saving now, cheaper car enables you to be able to save, and still have a nice car as well...

my 2c

Cheers

Chris
 

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You can do eeeit!
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1,495 Posts
Yeap, I agree with all the wise heads in here. You only need to get one house to get the ball rolling. It only takes one expensive car to stop that from happening.
 

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I am a Turbo Wanker
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2,379 Posts
Discussion Starter #17
Yeah I have this strange feeling that I don't really want to spend big on a car, I'd love a great car, but perhaps a great car should be a near new Subaru Liberty RX, the extra cash I should have I think is definately worth putting into a unit or small house.

Whats the deal with 1st home buyers grant and renting a preperty out? I assume you have to live at that address for the first 12 months?

fordomaniac - Mate I studied a Bachelor of Surveying and just picked up a job with an engineering firm. Those two combined seem to pay well, I was working with a cadastral firm before that and obviously the money isn't as good anbd neither is the work.
 

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More horsepower required
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612 Posts
A house is indeed the smart way to go , but you want a good car which alot can relate to . I , like alot of others spent a bucket load on cars when younger and had heaps of fun , when we should have been putting it into real estate. There's no right and wrong in whichever way you go . Just don't over commit yourself .
 

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You can do eeeit!
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1,495 Posts
94ED_Fairmont said:
Whats the deal with 1st home buyers grant and renting a preperty out? I assume you have to live at that address for the first 12 months?
The deal with the 1st Hone buyers grant is this:

For your first property purchase the Federal Govt will give you something in the order of $7k to contribute towards the deposit.

There is nothing in the legislation that states how long you have to live in that property, as long as it is within the first 12 months of purchase.

So what I suggest is if you do go down this avenue, live in it for a week or two, move back home and rent it out.
 

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Registered
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1,500 Posts
Buy a new car as it will only take a few years to pay off and then buy a house as it will probably take at least 20 years to pay off. At least then you will have both a newish car and a house and not just a house with a shitbox car.
 
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