This is a hypothetical question…
Lets say you make $75,000 a year.
You live on your own in your own house…lets say it’s a $100K house. Nothing special.
You curtail your spending…only buying the minimum
Is it possible to afford a used lambo for lets say…$145,000.
Just a little discussion.
Its deff possible depending on the loan terms and such, and if you can get a loan for it. I’d personally save for a few years and get supra instead of a lambo.
that would depend on any other debt, managed or otherwise (mortgage, credit cards, etc). without anything concrete, I’d say talk to a financial advisor… you might find that saving aggressively for a few years first might be advisable for your future vs having a nice car now 
is it possible? Yeah. Is it stupid? Yep. 
Would it be fucking sweet to have a lambo? Mmmhmm. Me and Onyx were just talking about the possibilities of something like this earlier today.
If you could throw down about a solid 40-50g’s, the monthly payments would be managable assuming you could get a longer term home equity loan, although you probably wouldnt really have money left over for shit else. Assuming you had your mortgage and all other living expenses to pay for as well.
No problem at all. Buy a house and get a few room mates, then the $2465 a month in no big deal.
X…
Having a 100k house and 145k car :bloated:
Get some roommates…pay the house off quick as possible then work on affording toys would be the best bet.
depending on the mileage you plan to put on it and the APR on the loan it wouldn’t be too horrible of a decision…since they tend to hold their value you’d likely lose 10% + the interest on the loan when you sold it. So in reality you may lose less money then say buying an RS4 and modding it.
ill probably never own a house that cost me more then 250k… i am not a “big house” kind of guy… that being said i would rather buy a house for 175k and put 75 into it to get it exactly how i want, but @ that point i may just build one… we shall see next year
So 75k/yr, minus a lot in taxes because anyone considering this is obviously single with no kids. Aka, the anal rape tax bracket.
So lets says 53k/yr net.
100k house - 10k down + 4k closing = 94k financed. 6.25% interest from FHA. 580/month, 7000/yr approx.
Figure 3500 in school/property tax.
1500 for heat.
200 water.
850 electric.
500 insurance.
4000 in food (very modest 80/week, you’re never going out).
So bare minimum to have a roof over your head and not starve, 17550, leaving 35450. Dump in another 2k for the random shit that breaks when you own a house, 33450.
For someone like you, the insurance on a lambo is going to be astronomical. 10k/yr? I’m guessing, but that sounds possible.
6 year loan at 12% (no one is going to give you a normal car rate for this luxury purchase) for 158k (don’t forget 8.75% sales tax on that 145k), which you’ll probably NEVER qualify for making 75k/year, is 3088/month, or 37056/year.
So even if you find some miracle insurance deal for 5k/year, and get approved for this retarded loan, you’re negative $8600 at the end of the year.
You had 0 entertainment. You bought 0 gas. You had 0 repairs for this supercar. You bought nothing but food. You don’t have cable, internet or a phone. You made 0 investments for retirement. You’re still in the hole 8600.
Yeah, people that make 75k a year don’t drive 145k cars. Even if you play with the numbers by saving up a lot of cash and putting a lot of cash down on the car it’s still never going to work.
Idiots 
^ Just figure out a way to make 90k so that you break even and even have a few bucks to put gas in the tank to drive it 10 days a year
I never said this situation was my situation…just was thinking of some numbers…
No,i’m with JayS on this one.
Even when you figure the numbers like he did there will always be unexpected costs.
Home/Car maintenance,winter ride,family related costs.Very risky,what happens if you hit Bambi?
:lol: maybe with a 1 bedroom apartment.
I hear some places are starting to give 10+ year car loans…
Or you could bust ass to pay off a lot of your home and then get a second mortgage.
Or sell drugs.
[quote=“JayS,post:11,topic:27687"”]
So 75k/yr, minus a lot in taxes because anyone considering this is obviously single with no kids. Aka, the anal rape tax bracket.
So lets says 53k/yr net.
100k house - 10k down + 4k closing = 94k financed. 6.25% interest from FHA. 580/month, 7000/yr approx.
Figure 3500 in school/property tax.
1500 for heat.
200 water.
850 electric.
500 insurance.
4000 in food (very modest 80/week, you’re never going out).
So bare minimum to have a roof over your head and not starve, 17550, leaving 35450. Dump in another 2k for the random shit that breaks when you own a house, 33450.
For someone like you, the insurance on a lambo is going to be astronomical. 10k/yr? I’m guessing, but that sounds possible.
6 year loan at 12% (no one is going to give you a normal car rate for this luxury purchase) for 158k (don’t forget 8.75% sales tax on that 145k), which you’ll probably NEVER qualify for making 75k/year, is 3088/month, or 37056/year.
So even if you find some miracle insurance deal for 5k/year, and get approved for this retarded loan, you’re negative $8600 at the end of the year.
You had 0 entertainment. You bought 0 gas. You had 0 repairs for this supercar. You bought nothing but food. You don’t have cable, internet or a phone. You made 0 investments for retirement. You’re still in the hole 8600.
Yeah, people that make 75k a year don’t drive 145k cars. Even if you play with the numbers by saving up a lot of cash and putting a lot of cash down on the car it’s still never going to work.
Idiots 
[/quote]
That about sums it up, some people dont realize that the real cost of housing and your actual take home income.
When you have 35,000 left after your housing expenses I would figure these bare essentials
5,200 for general expenses = $100 bucks a wk
7,300 for FOOD = $20 bucks a day
2,500 for Gas = about $200 a month
So then your left with 20K a year for a car
For a exotic your going to pay 20K in maintainance for 1 year if you drive it for sure.
This does not account for a alternative mode of transport
So this leaves you with no money to insure or make payments on said car.
Yeah, I left a ton of expenses out, but when I was already at -8600 I figured the point was made.
my rule is drive a car that u bought for what you make a year… (minus @ least 25% down)
[quote=“Viper966,post:19,topic:27687"”]
my rule is drive a car that u bought for what you make a year… (minus @ least 25% down)
[/quote]
Would it be what you make in a year before or after taxes? Big difference