Al Sherman
It's about THIS car.
^^^This. You need a reality check dude. You can't afford this car. I recommend you find someone 30 years older than you that is in your field and ask their advice about what you're thinking.
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Soon to graduate from University... thinking about getting a Model S...
- Thread starter Ridge Lawrence
- Start date
^^^This. You need a reality check dude. You can't afford this car. I recommend you find someone 30 years older than you that is in your field and ask their advice about what you're thinking.
kinddog
Banned
this.
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hahahahaha! No, you won't.
man, life is about to come crashing down on you hard, my friend. best not be driving a luxury car that you can't afford when it does...
Better to burn out, than to rust. If you can afford it, and it and it makes you happy. Why not?
Now therefore, while the youthful hue
Sits on thy skin like morning dew,
And while thy willing soul transpires
At every pore with instant fires,
Now let us sport us while we may;
And now, like am'rous birds of prey,
Rather at once our time devour,
Than languish in his slow-chapp'd power.
Let us roll all our strength, and all
Our sweetness, up into one ball;
And tear our pleasures with rough strife
Thorough the iron gates of life.
Thus, though we cannot make our sun
Stand still, yet we will make him run.
Andrew Marvell
Now therefore, while the youthful hue
Sits on thy skin like morning dew,
And while thy willing soul transpires
At every pore with instant fires,
Now let us sport us while we may;
And now, like am'rous birds of prey,
Rather at once our time devour,
Than languish in his slow-chapp'd power.
Let us roll all our strength, and all
Our sweetness, up into one ball;
And tear our pleasures with rough strife
Thorough the iron gates of life.
Thus, though we cannot make our sun
Stand still, yet we will make him run.
Andrew Marvell
Last edited:
Al Sherman
It's about THIS car.
Raffy.Roma
Rome (Italy)
spatterso911
P100DL - Raven
I think in the end, it is your money so do what you want but go into it only after having taken a serious look at your finances. Waiting a year or two (at least) will be tough but will also give you time to save up, see how the job is going, and also benefit from improvements in the Model S that are sure to come.
There is some seriously conservatively advice in this thread.
I agree that a P85 right out of college is a pretty bad idea.
Make sure you like your job. I HATED my first job out of school. See how much you actually spend month to month.
Get a $20,000ish new car, tops. Drive it for 3-5 years (get a loan, put 50% down if you want, it will help your credit).
Pay off all your debt, including student loans.
Max out your 401(k) (for maximum matching). And put $5k a year into a Roth IRA. If you save 20% of your paycheck for your first 10 years of working you will be almost set for retirement (not a nice one, but enough to live off of).
Buy some decent furniture (not cheap crap). Buy yourself a few toys. I bought a camera ($1.5k), a bicycle ($5k), and some really nice pots and pans ($1k).
When you find a job you can tolerate, you have some credit history, look at your finances. Save your car payment for at least 3 months. Then take the plunge. And make sure you have at least 3 months cash on hand (you can count on getting rid of HBO, and canceling your Netfilx) to pay your necessary bills. Basically internet, power, heat, rent, FOOD, and car payment. If you buy a house you need another fund to replace a major appliance (I can pay cash for anything but a full AC/Furnace/Air Handler replacement) beyond your 3 months cash.
I was able to bank enough money to quit my first job and live fine for 6 months looking for another one. That kind of freedom to get out of a crappy job is priceless. It only took 3 months to find my current, and mostly awesome job.
I certainly don't have $100k (or ever $50k) to dump into a car. But I still have my buffer cash, and I tested the waters for another job before I bought my S. If I lost my job I could get a comparable paying job quick if I had too. It would be a crappy job but I wouldn't completely be up a creek.
You will spend WAY more money than you can imagine once it starts showing up in your paycheck. I have bought plenty of toys so I won't be wanting another TV as I already have plenty of big ones.
I agree that a P85 right out of college is a pretty bad idea.
Make sure you like your job. I HATED my first job out of school. See how much you actually spend month to month.
Get a $20,000ish new car, tops. Drive it for 3-5 years (get a loan, put 50% down if you want, it will help your credit).
Pay off all your debt, including student loans.
Max out your 401(k) (for maximum matching). And put $5k a year into a Roth IRA. If you save 20% of your paycheck for your first 10 years of working you will be almost set for retirement (not a nice one, but enough to live off of).
Buy some decent furniture (not cheap crap). Buy yourself a few toys. I bought a camera ($1.5k), a bicycle ($5k), and some really nice pots and pans ($1k).
When you find a job you can tolerate, you have some credit history, look at your finances. Save your car payment for at least 3 months. Then take the plunge. And make sure you have at least 3 months cash on hand (you can count on getting rid of HBO, and canceling your Netfilx) to pay your necessary bills. Basically internet, power, heat, rent, FOOD, and car payment. If you buy a house you need another fund to replace a major appliance (I can pay cash for anything but a full AC/Furnace/Air Handler replacement) beyond your 3 months cash.
I was able to bank enough money to quit my first job and live fine for 6 months looking for another one. That kind of freedom to get out of a crappy job is priceless. It only took 3 months to find my current, and mostly awesome job.
I certainly don't have $100k (or ever $50k) to dump into a car. But I still have my buffer cash, and I tested the waters for another job before I bought my S. If I lost my job I could get a comparable paying job quick if I had too. It would be a crappy job but I wouldn't completely be up a creek.
You will spend WAY more money than you can imagine once it starts showing up in your paycheck. I have bought plenty of toys so I won't be wanting another TV as I already have plenty of big ones.
I agree 100%. I would not spend the money on this type of car when you should have other priorities like a house, family, savings, retirement (yes retirement). A car depreciates in value.........I'm sure you know this. With home prices at a bottom and low interest rates (even though they are starting to rise) I would buy a home or investment property.
Yes this too. When I lived in an apartment complex (never a really nice one), I always thought the people with $40,000 plus cars were weird. I would move somewhere nice, and have at least two rooms of decent/nice furniture before I ever spent more than ~$20,000 on a car. There was always something weird when I was paying only $700 a month for a fairly small suburban apartment, seeing a 1 year old Porsche 911S parked in the lot.
Spend money on your mattress, your computer chair/desk, and couch. You spend a lot of time there. Then spend money on where you live. Then spend money on your car.
And for some people spending money on a hobby, or food should be before the car. My hobbies are close to free now, so I only invest time. Well and my hobby of Tesla seems to be pretty big, but I lump that into my car budget. And I really dislike eating out. I just really really hate doing dishes.
kinddog
Banned
it's amazing, the hubris that today's young-ins coming out of college have. even in the midst of an epic recession, where unemployment among college grads is about 40%, this guy thinks that a simple B.S. will have him making $80k right away. NO DOUBT!!!
i remember when only very successful professionals, maybe in their 50's, after putting their kids through college would go out and splurge on a $90k car. now every college graduate thinks they are entitled to one before they even have a job.
i fear for the future of this country...
i remember when only very successful professionals, maybe in their 50's, after putting their kids through college would go out and splurge on a $90k car. now every college graduate thinks they are entitled to one before they even have a job.
i fear for the future of this country...
I am hoping I get my $90k car done with before I have kids. That way I wont need a car when I am paying for them.
rolosrevenge
Dr. EVS
I graduated less than two years ago and walked into a job paying more than that. Granted I have a Ph.D. and it was only because of some sweet connections that I got it. I still can't 'responsibly' afford a Model S performance, which is why I'm hoping to sell ads and do publicity stunts in order to afford it. But, if that doesn't work, I'll just see where my finances are in a few years.
kinddog
Banned
that's kind of a BIG "GRANTED".
don't get me wrong, just making $80k a year is in no way a qualification to buy a comparably priced car either. but at least you're getting a paycheck.. haha
rolosrevenge
Dr. EVS
I'll agree with you there. If I were single, I'd have save enough to afford it by now, but with 2 kids, I'd need to move somewhere substantially cheaper to afford even the 60 kWh version.
big difference between Bachelor and PH.D...
that's like a bio major college graduate and a doctor....
rolosrevenge
Dr. EVS
I agree, didn't catch at first that he only had a B.S. so I wasn't sure of his level. I was just saying the whole thing is possible. I wouldn't expect an 70-80k job with a BS, unless you were living in a place so expensive it would be equivalent to $50k in an average location.
I wouldn't be so sure... Its not unheard of for students at my university with a BS in CS to get 120K+bonuses/yr right out of college... It really depends on the individual, major, and university among other things... That being said, you can't bank on anything until you have an offer letter (or several) at hand.
NuclearPowered
Member
I personally know several people offered 90k-110k directly out of school with a BS. Its not that unheard of for certain engineering majors or CS. This is within the last three years.
However, that does not make it advisable to load up with large consumer debt immediately.
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