Thread: Is it a good idea to get a brand new BMW or Lexus if you are making over $55,000 or

more right out of college? Not talking about myself, but just observation from other people I know.

Here is a tip, If the price of a car will cost more than your take home salary for an entire year, then you shouldn't buy it. An automobile is definitely NOT something you want to cut it close with money on.

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No. I know that seems like a lot of money right out of college but if you (or whoever's) taste is that of BMWs then you are going to want to spend a lot of money on other things, too. Having a car payment for a luxury car will not allow you to afford much else. Buy something more practical (look at Consumer Reports website) and you can still get a nice/impressive looking car for a reasonable price-especially if you look at pre-owned/used cars. There are tons out there with barely any miles and still bumper to bumper warrantees.

Yes. It helps you pick up chicks. More bang for the buck.

No. It's not a good idea. That goes to show where one's priorities are. Investing in a good home should be #1. Get a good car like toyota or honda. They are efficient and reliable.

Since you;re out of college, why don;t you save up and get a second hand car first? You can go to this website called AllTheRides.com which has a pretty good list of second hand cars to pick from.

not unless you pay cash.

Not if that means you'll live in an apartment instead of a condo or a house. I think it's more important to have a home than a nice car, because then it looks like you're just trying to show off.

Not if that means you'll live in an apartment instead of a condo or a house. I think it's more important to have a home than a nice car, because then it looks like you're just trying to show off.

No, very bad idea, save your money and invest it so that it grows.
Don't be stupid, why buy a expensive new luxury car that's going
to depreciate 20% as soon as you drive it off the lot !
Cars are liabilities, invest your money in something that will one
day become an asset to you !
If you want to buy a car, buy a used car and pay cash for it if you
can.