I've always wanted an s2k, and looks like I'll finally have the means to afford one. Since ill be graduating within a year, I'll hopefully be making anywhere from 40-60k, with a more reasonable figure around 50, pretax. Is this enough to afford an s2000, and live comfortably? I've heard that a car should never exceed 1/3 of your annual income, and if this holds true, I shouldn't even think about a new one.

Btw I plan on renting an apartment, paying for food and expenses, and being financially independent of my parents. Is this a feasible task, or am I doomed with driving a civic for another few years? I really want this car, but don't want to put myself in a financial burden with a 34k car (I prefer new, although I'll consider a slightly used 05 with low mileage)

I know I'll probably get replies telling me to invest and save my money, but I am in love with this car

 

If you want it, then yes, you can afford it. I bought mine during college.

 

Dont put yourself in debt right out of school. Save for a year or so then
look at your options.

 

if you have to ask you cannot afford this car. it is ferrari territory. check out www.scion.com for a car in your price range.
i'm 20 and i'm a baller therefore i can afford this car. but you cannot.



haha jk about all of that but my age.

If i were you I would rock the civic for another year and save up some money. maybe 10 grand? use that as a downpayment and finance 20k. your payments should be well within reach then.

don't forget about all the other expenses that come with this car... insurance, gas, expensive tires, etc. etc.

 

only you can really answer that question. none of us know your spending habits if any or your lifestyle.

there is a VERY SWEET lease deal right now. $299/mo, 36 months

 

I'm gonna tell you something you dont wanna hear. I'll be out of school may of 07 and as much as i want a newer s2k, i would rather put it in buying a house. Just buy a used 02-03 s2k and youre good to go; by that time it shouldn't be too costly. Honestly, $50k/year is nothing these days, depending on where you live of course. Another option is to "invest" your hard earned money in real estate; the appreciation of your house alone with let you get a brand new s2k in no time.

Also, do you really want to have a marginally "nice" car and drive home to a $1200/month apartment that you can't really call your own? I see it all the time, some kids i work with would roll in bmw's, spend 4Gs on their 19" rims and still live in apartments. In 5 years, they will have nothing to show for their hardwork but a piece of aging iron.

Alright i better stop before i go to hell for sounding like my parents.

I do regret buying an s2k, wish i had put all that money into some sort of savings and have myself a nice down payment for a house. Oh well, live and learn.

 

I sort of anticipated these kinds of answers, and although they are of no suprise to me, it makes total sense. Having to wait though means having a tougher time finding a new s2k (since its being discontinued).

Its going to be nearly impossible to buy a house upon graduation. I'll need to save for at least a couple years to even come up with a down payment, and thats not even counting all the insurance and other expenses of owning a home. I guess though with real estate appreciating, its certainly a better investment than a car.

Maybe I'll take a look at the civic sedan si...

 

Just make sure it meets your needs. The s2k is a bitch if you use it for communting etc. Definitely need a back up dd. Whereas it has limited trunk space and is a pain @ times.

 

Yeah, yeah. We are into the 6th year of "being discontinued". I'll believe it when I see it. Looks pretty solid that there will be an 07 at least..

 

Right now will also be a good time to get one since the year-end model clearance is going on.