CAMARO COST VS INCOME

[flyer08]

Bring home about 5300 and pay 575 for 36 months

[meissen]

Mine equates to about 8% of our net monthly income. If I include the payment on my wife's car then it goes up to 14% of our net monthly income. Our mortgage is actually less than what we pay on my Camaro and my wife's 2013 Malibu Eco.

[meissen]

Originally Posted by SPARTAN sui

Good Lord, is everyone either a doctor or a lawyer? I know I'm getting paid a low income with living in a town of only 2,000 people, but man!

My car payment alone, comes out to about 25% of what I make a month. so 1/4 of my paycheck goes towards my car. Granted, it's my biggest bill each month, but still. Rent is about $320 a month, includes everything.

No wonder a lot of you guys have money to mod.

I'm a computer technician and take home less than $30,000 a year.

I'm in IT Audit now, but when I was a Desktop support tech a handful of years before that I was making about the same - you're right on track. How long have you been a computer tech? Do you have a degree? I graduated from college while I was a system administrator and the company I worked at said "So what - no pay increase just because you graduated" so I started looking for a different job and ended up changed companies to go to IT Audit. It was an instant yearly increase of just shy of 50% of what I was making as a System Administrator and the ONLY way to get the job was to have a degree.

Best moment in my career was after I filed my resignation at the company I worked at. The CIO was over talking to a peer of mine and I walked up to ask him a question. While I was waiting patiently, and being the arrogant prick that he was, he stops talking, looks at me and says "This conversation doesn't concern you..." Just then my manager walks by and he looks at my manager and says "You know - I want to talk to you about this guy when you get a moment." My manager responds, "Yeah, we need to talk about him when you're done..." (The CIO didn't know I resigned yet) As he goes back to talking to my peer, he looks down to his smart phone and starts reading an e-mail from the director of infrastructure who was informing him that I just quit. He looks over at me and goes "You asshole!" and storms off to his office to start damage control. I had been there 6 years and since I started in Desktop support I knew almost everyone in the business. Best move I ever made to get out of that environment.

[CyberBri]

I sell toyotas to support my camaro addiction!!!!!!!!!!!!!!!!!!!!

[Tbar]

Pay about 6% of monthly income. I could of almost paid cash but I got a 0% loan so why bother.

[ShowSStopper]

Originally Posted by SPARTAN sui

Good Lord, is everyone either a doctor or a lawyer? I know I'm getting paid a low income with living in a town of only 2,000 people, but man!

My car payment alone, comes out to about 25% of what I make a month. so 1/4 of my paycheck goes towards my car. Granted, it's my biggest bill each month, but still. Rent is about $320 a month, includes everything.

No wonder a lot of you guys have money to mod.

I'm a computer technician and take home less than $30,000 a year.

I feel your pain man...I'm in the exact same situation.

Us I.T. Specialists gotta stick together.

[jd10013]

Originally Posted by purkel

Ive always paid cash for my cars. I dont like the idea of having too many payments hanging over my head.

I really wanted a BMW M3 but I didnt have 60k lying around so I didnt buy it. I suppose I could have financed it, but it felt irresponsible so I couldnt bring myself to do it.

Im happy with the SS I decided on.

it actually makes much more financial sense to finance than to pay cash right now. money is cheap. if you have good credit you can get rates as low as 1-2%. with the way the fed is keeping interest rates near zero, and their constant money printing it's not hard to get a 10% return on your money.

when interest rates are low finance, when they're high you want to pay cash.

as for my payment, monthly income works out to about 8400, payment is 347. so I guess that comes out to about 4%

[montyhp]

My camaro payment is exactly the same amount as my military disability payment that I don't count as part of my take home pay. That said, it equates to about 4% of my income. I don't mind buying on credit, but I usually pay off a car in 2-3 years so I get a couple of years of no payments before I buy another.

[SimpleGreen]

Car note is $336 or 15% of my income.

Of course, my parents house that I live in is 10 years old and was $135K for a 3bed/2 bath dead center in a wonderful little town, 25 minutes drive from everything you could want. Different kind of economy here.

[SPARTAN sui]

Originally Posted by Mr. iNCREDIBLE

I'm a CIO, started as a computer tech many moons ago, decided to become an ASE Electronics Tech, but then moved back into Networks, worked as tech support, assistant network admin, network admin, DBA, and over time have moved into my current position.

But I've been doing this 25+ years, I am by no means a youngerster like you.. Add to that if I had this position where you live I would make 40% less as the cost of living is much less, but if I had this position in NYC I would be makeing 40% more..

Your probably doing pretty good for where you live and what you do, entry level (computer techs here make about $15/hr which is about $32K a year..

Cost of living is pretty cheap around here. It's even cheaper for me because I pay rent to my sister & brother in law, basement apartment type thing. With all your experience, it's good hearing that you think I'm right on track. Luckily I do freelance work, that is more so my fun money. I'll be building a PC, setting up digital signage, and working on a webpage in the next couple of weeks. I'll make more in about 15 hours of work doing that, than 40 hours of work at my full time job.

However, cost of living may be cheap here compared to other parts of the US, it was A LOT cheaper only a few years ago. My parents bought their house for $45,000 back in 2008. Mind you, we did not go through a recession here in ND. We're one of the few states that was not effected by that. Today, their house without any of the remodeling they have done, would bring $90,000 easy. How does property values double in 3 years? Beats the hell out of me, population hasn't changed much here. If it was 2008, I could afford to buy a small house for myself. But now, impossible.

Originally Posted by meissen

I'm in IT Audit now, but when I was a Desktop support tech a handful of years before that I was making about the same - you're right on track. How long have you been a computer tech? Do you have a degree? I graduated from college while I was a system administrator and the company I worked at said "So what - no pay increase just because you graduated" so I started looking for a different job and ended up changed companies to go to IT Audit. It was an instant yearly increase of just shy of 50% of what I was making as a System Administrator and the ONLY way to get the job was to have a degree.

This is currently my 3rd year as a desktop support technician, I work at the college I graduated from, I have an AAS in Network Engineering. I really should have taken my CCNA, but I didn't. :( Don't get me wrong, I love my job, I look forward to going in every morning. Most weekends I actually get bored and look forward to Monday morning. I just dislike how little I'm getting paid compared to other techs at the other colleges in this state. I'm at the low end.

Originally Posted by meissen

Best moment in my career was after I filed my resignation at the company I worked at. The CIO was over talking to a peer of mine and I walked up to ask him a question. While I was waiting patiently, and being the arrogant prick that he was, he stops talking, looks at me and says "This conversation doesn't concern you..." Just then my manager walks by and he looks at my manager and says "You know - I want to talk to you about this guy when you get a moment." My manager responds, "Yeah, we need to talk about him when you're done..." (The CIO didn't know I resigned yet) As he goes back to talking to my peer, he looks down to his smart phone and starts reading an e-mail from the director of infrastructure who was informing him that I just quit. He looks over at me and goes "You asshole!" and storms off to his office to start damage control. I had been there 6 years and since I started in Desktop support I knew almost everyone in the business. Best move I ever made to get out of that environment.

Haha, that's fantastic! Sounds like a great efff you moment!

Originally Posted by ShowSStopper

I feel your pain man...I'm in the exact same situation.

Us I.T. Specialists gotta stick together.

It's nice to see this many members are in IT field. I agree!


I did apply for another job at a bigger university. Starting wage is $40,000. I currently make $27,593. However, it looks like rent is going to be $400-500 more a month (around $800) for a one bedroom apartment. Granted, it's in an apartment complex just built in 2009, what attracted me is the fact it's newly built and heated underground parking. lol

My only issue is, I love my job here. I know everyone on campus, my sister & brother in law work here, my boss is great, I love having all the responsibilities that I do - OU Administrator, student & campus email administrator, I have access to the firewall, I get to create group policies in AD, I get fun projects like running new network drops, troubleshooting network issues, repairing computers, campus & student computers alike, I get to setup the interactive video network rooms, I help make decisions on buying equipment and computers, I get to play with all the new computers that come in, etc. It's great! Just wish it paid more than it does.

It's a catch 22. What scares me about the new job is the title, help desk consultant. I don't want to be on the phone all day troubleshooting simple user issues.

Oh, and my girlfriend lives where this new job is at, which is 4 hours away from here. That's another +1. We've been together for over a year and half, and this 250 miles apart thing just sucks. :(

[JustRaf]

On my regular 40 hours a week I was paid $4800 take home/net a month and on my per diem job between $2500-3000 take home for working 80-86 hours a month. I paid too much taxes on my per diem or part time job(30%).
My monthly payment is around $637 a month for 71 months.

[zogster]

$637 a month for 71 months!? Is your car a convertible? What is the interest rate on your loan?

My payment is 16% of my net income. I have basically no other expenses besides car payment, normal living expenses, car insurance, and gas. I just graduated college recently and have been living at home. I don't see much reason to rent an apartment and am saving for a house or investment property (ideally I would like to buy both sides of a condo and rent one side).

[JustRaf]

Originally Posted by zogster

$637 a month for 71 months!? Is your car a convertible? What is the interest rate on your loan?

My payment is 16% of my net income. I have basically no other expenses besides car payment, normal living expenses, car insurance, and gas. I just graduated college recently and have been living at home. I don't see much reason to rent an apartment and am saving for a house or investment property (ideally I would like to buy both sides of a condo and rent one side).

I have like close to 4 thousand upside down for my trade in. And the dealer finance with 5.9% even though I have good credit score and he also charged me $3500 for the extended warranty that is added to the principal loan but I cancelled it as per advice of the members from this forum however it wasn't posted yet on my loan account that they cut the check back to the bank so my official payment is till $637 a month until the bank process the check from the dealership.

[AdamEL]

Mine's about 25% of my personal monthly take home amount. But I'm married, and my wife makes about the same amount that I do. Her car note is about $100/month cheaper than mine and will be paid off one year earlier. We definitely spend a lot of money on our car notes each month, but we really love them, so it's worth it. And I'm really good with our money. I haven't overdrawn, bounced a check, or been late on a bill payment in over 20 years.