kerouac, is that your actual budget or just something you are making up? A used BMW 3 series would be certified pre-owned and financed over 48 months at .9% (or 1.9%). 36 months is generally a lease, not a car payment.
I lived in L.A. with a good friend in a 2 bedroom, 2 bath. Rent was $1,200 each. Drove a old junky car. Insurance was $80.
Spent around $3,500 a month (gym, nice meals, going out, gas, clothing, student loans) all in and lived nicely.
I could have lived off of $2,500 a month and been comfortable.
If I were only making 80K a year, I wouldn't even consider leveraging myself into a $700 a month car payment. 80K is a Nissan or Honda income. Even 110K isn't enough for a 3 series.
That sort short-term thinking is why L.A. is full of people who have to end up leaving. (And they always say, "I hated L.A.!" and act like they left by choice.)
I drive WAY less car than I can afford to. That's why I won't be broke anytime soon.
The freedom and peace of mind of knowing you can lose a job and not sweat is = true comfort.
I lived in L.A. with a good friend in a 2 bedroom, 2 bath. Rent was $1,200 each. Drove a old junky car. Insurance was $80.
Spent around $3,500 a month (gym, nice meals, going out, gas, clothing, student loans) all in and lived nicely.
I could have lived off of $2,500 a month and been comfortable.
If I were only making 80K a year, I wouldn't even consider leveraging myself into a $700 a month car payment. 80K is a Nissan or Honda income. Even 110K isn't enough for a 3 series.
That sort short-term thinking is why L.A. is full of people who have to end up leaving. (And they always say, "I hated L.A.!" and act like they left by choice.)
I drive WAY less car than I can afford to. That's why I won't be broke anytime soon.
The freedom and peace of mind of knowing you can lose a job and not sweat is = true comfort.