How do you guys afford such nice cars?!

[Jaxe]

Just wondering how you guys can afford such great cars and pump so much dosh into mods?

I work full-time and make OK money... but I still can't even afford a base model non-turbo Skyline.

My dream is to own a Skyline.. currently I'm driving a 1989 "White Lightning" Celica (I've heard that only 150 were ever brought into Australia). It cost me $8000 and that was a struggle!

How do you do it?! Are you all in debt or do you have rich dads?

Cheers.

[SiX]

Get a loan from the bank

I got $20,000 for my lancer over 5 years, 450 a month pepayment

I manage that with a home loan and i'm only 22

[wrxkilla]

yeah, it depends what you call 'okay money' Alot of the people in here are probably IT people, and although many many many wont agree we do earn prety good salary's.

But after that. Well, lets say My G/F hates the car.

not becasue she hates it. But because I spend ALL the money on it.

[Ash]

i am getting one on friday! 97 GTS-T!! i am 19 and borrowed 22K from the bank and saved the rest!

130 a week is ok payments

[jlnewton]

Originally posted by wrxkilla

Well, lets say My G/F hates the car.

not becasue she hates it. But because I spend ALL the money on it.

Its amazing how that works isn't it. They love nice cars but as soon as they see how much money they cost it becomes a competition thing. You want a nice car, you have to pay for it!

Between house repaymentscar repayments buying stuff for the car, I don't leave alot left over, just depends where your priorities are I guess. Mine at the moment is the car, 4 yrs ago it was saving for a house, before that it was Party Hard! Its your choice!

[T0nyGTSt]

A lot of us (A LOT!) have IT jobs.

T.

[T0nyGTSt]

And for me, this car is about as expensive as an ordinary car... and I need a car... so drive a Skyline... why not?

T.

[Duncan]

I make millions from my racing career to pay for the cars.

[PranK]

Yeah, I pimp myself to pay for the GTR and home loan (soon). I also run a large columbian drug cartel.

[Guest neoGT-25]

lol @ Duncan

[MacK]

Basically i dont do drugs, i dont get pissed everynight, i live with parents, n i save what i make.... its called budgeting! i still club, pick up, party and spend, but in a smart way! i own my 96gtst outright and my parents drive a shitty VL and own a old house...

So if i lived out of home i couldnt afford it....

And i hate rich daddy boys!!

(cause im not one)

OH YEA! and Prank pimps me out sometimes... any jobs lately prank??? ur killing me here!

[PranK]

sorry dude, i'll do my best.

[franks]

well said mac33r - in other words spend your money wisely and sacrifice some lifestyle - hard work, but nothing comes cheap.

some other tips for you:

-first and foremost, be diligent with your money, ie. put some money away every month or week, depending on how frequently you get paid, and once it grows - invest smartly. making money is not an overnight process.

-never own your car. the money you put up for it could be better off in smart investments that can gain you capital growth or cashflow.

-get a good accountant who can really maximise your tax refunds/benefits

-if the bank is willing to lend you money, take it! these days money is cheap, aussie cash rate is at 4.75% and expected to fall over the next 5 months

thats about it.

[doxximus]

i borrow off my parents and pay them back half my wage each week for what i owe, thats what im doing for my turbo conversion, beats owing the banks

but yes alternatively just loan from the bank

[Guest neoGT-25]

yeh same as doxximus, as soon as i start driving i have to pay it off

[PranK]

Originally posted by franks

-never own your car. the money you put up for it could be better off in smart investments that can gain you capital growth or cashflow.

i dont know about that, i own my GTR - i have owned all of my cars outright and have preffered it that way. I have no monthly payments and the money that i would normally spend on monthly payments goes into another account and i save it (or spend it as i am terrible muriel.)

(not trying to blow my own trumpet either)

[Duncan]

Nah, its just a finance thing. never own depreciating assets.

A 70,000 gtst loses say 50% in 3 years = 12,000 per year. On lease you pay interest on 35,000 for 3 years @ say 8% = 8,400 interest.

Buy it yourself, you tie up 70,000 which you could invest @ say 5% = 10500.

Numbers get even worse the cheaper you can get finance (eg, redraw from home loan at 6%), and the more you can make with your money (unusually low return at the moment, 5yr average should be over 10% not 5).

[PranK]

good point. i might get an extra $x when i get my home loan and buy it off myself

[Duncan]

If you can control yourself, you make huge savings paying off home loan instead of more expensive ones. Problem is most ppl can't control themselves and end up in even more debt.

[PranK]

what do you mean "paying off home loan instead of more expensive ones" ?

Sorry.