What would you do? Help!

[Supradawg]

I’m 21, I recently obtained a 6-figure salary. I live with my parents (and will be for the meantime). Would you jump into buying an MK5 in this situation?

Current Car: 2019 Honda Civic paying 350/Month + insurance for $200

Current Financials:
- 401K investing 20% of check/month
- Investments investing 200-500/month
- 30k saved for other ventures (or the car).

Current Monthly payments:
500-800/month money back to my parents

Talked with Insurance, for a year for the supra would be $1960/yr.

Been wanting a Supra for years ever since it came out. Posted about how bad I’ve wanted it in various Facebook groups, have countless videos on my phone of Supras driving by, etc. I know this is the car that I want.

But what would you do? Thank you for any advice.

***Please post a photo of your build in this thread, i’d love to see them all!! (Especially in Absolute Zero)

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[Turbro]

I just saw this on Reddit. Lol save to move out into your own house first man. You will be able to get a supra later, start saving for a house down payment imo. Get a house, and have friends move into the extra rooms and pay you rent. Seriously. You will be able to pay for the mortgage with their rent money and build equity and save your money. Then pay cash for a supra

you have a great head start over a lot of people, don’t throw it away on a car right now. If you are patient you can have all the cars later if you are smart at 21.

You can still enjoy your 20s while seriously setting up your 30/40s. I highly recommend you do that instead of Blowing it now. Your later years will thank you and you can then do whatever you want

 

[Supradawg]

I just saw this on Reddit. Lol move out first man. You will be able to get a supra later, start saving for a house down payment imo. Get a house, and have friend move in and pay you rent. Seriously.

you have a great head start over a lot of people, don’t throw it away on a car right now. If you are patient you can have all the cars later if you are smart at 21.

Thank you again, I appreciate your advice more than anything. How’s your MT??

 

[Turbro]

Ps I edited my comment above for more advice.

I waited a very long time for my spec. Long wait but worth it. Goes faster than you think. I waited 6 years to get a blue manual supra. You can see I signed up in 2018….

This is my Strat Blue 3.0 MT, but I am 36, owned tons of cars and am setup now with a 2 decade old company, house, other vehicles and a family.

I could have been further if I didn’t rent to my friend for 10 years while I bought cars instead of a house. He’s now a multi millionaire on his own. But I’ll be okay lol

 

[omfgzilla]

The fuck are you asking this shit in here for? Shouldn't you be calling david ramsey?

 

[djf]

Your parents would appreciate you getting your own place before buying an expensive car

 

[J29DB03]

Congrats on obtaining the salary. Getting a house first is usually the better choice. But with the housing market and interest rates right now I would take advantage of living at home for a little while until it calms down some. Personally I don’t feel the Supra is an expensive car. My thinking would be get a Supra, put money aside for a down payment on a house, and add some more to your 401(k) contribution. You may even have the Supra paid off and therefore also off your credit report when the time comes to apply for a mortgage.

 

[Blindspot]

My man, you are doing well. Don't listen to everyone telling you to move out ASAP... If living at home works for you and your parents, stay there as long as you can while buying your dream car, doing cool shit, and saving a lot of money. You have the rest of your life to make retarded adult decisions, like getting a girl pregnant, burning rent money, or asking the bank for $700k for a house, which will likely cripple your ability to travel and have fun.

Stay living at home, buy the damm car, and have the most fun while saving money.

 

[Supradawg]

The fuck are you asking this shit in here for? Shouldn't you be calling david ramsey?

Would love to hear opinions from actual Supra owners, that’s the reason why I went to these forums. Sorry about that.

 

[SoDakMk5]

Math isn’t mathing. How is a civic 200 a month 2400 a year but a Supra is 1900 a yr

 

[Supradawg]

Math isn’t mathing. How is a civic 200 a month 2400 a year but a Supra is 1900 a yr

I called the insurance for a year rate rather than paying month by month like how it is with the civic.

 

[Rocksandblues]

First advice: Don’t get financial or life advice from a car forum.

 

[calmeda1]

I would look into buying a place first, but because prices and interests are crazy, maybe you can look into renting a place. Although a Supra is a nice to have with a good Salary, I wouldn't necessarily jump into buying one before being settled in. You never know when your parents want you out of their place. Let's say your parents kick you out for any given reason; now you have to spend money on finding a place to live. Virginia ain't necessarily cheap, especially in NoVa. A good chunk is going to go away in property rental/mortgage, plus taxes on either mortgage and/or your car. Just a lot of sudden expenses you might have to deal with, of which the car might get in the way of.

Think of it this way; you're 21 and if you can afford a Supra now, you can afford it later. Focus on settling in your own place, get all finances straight. After then, if there's still enough for a Supra and still be comfortable, then go get it.

 

[puzzled]

Living with parents unless you are supporting them = fail.

 

[RenRed2]

Living with parents unless you are supporting them = fail.

You need to get out more. Its not uncommon in places for young adults to reside with parents/extended families. Its family and important. If the OP has a life, even living at home good for him. The fail is your assessment of this by applying your limited view on the subject. Its his life. Not yours.

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