Pontiac G6 Forum banner
1 - 20 of 38 Posts

·
Registered
Joined
·
80 Posts
Discussion Starter · #1 ·
So I've been lusting after a G6 for a long time. I just drove both an auto and manual GTP coupe tonight. I really want a manual GTP, however I'm worried about the affordability. I'll be graduating college in May and will start a job with a salary of 52k. However, I have ALOT of school loans to pay off too. I'm trying to get an idea of what most people spend on their cars. So my questions for everyone are:

1) What was the purchase price of your GTP?

2) What do you pay for a monthly payment?

3) What is your before tax annual earnings? (I know this question is a bit rude, don't answer if you feel uncomfortable, I mean no offense)
 

·
Registered
Joined
·
197 Posts
jp375 said:
So I've been lusting after a G6 for a long time. I just drove both an auto and manual GTP coupe tonight. I really want a manual GTP, however I'm worried about the affordability. I'll be graduating college in May and will start a job with a salary of 52k. However, I have ALOT of school loans to pay off too. I'm trying to get an idea of what most people spend on their cars. So my questions for everyone are:

1) What was the purchase price of your GTP?

2) What do you pay for a monthly payment?

3) What is your before tax annual earnings? (I know this question is a bit rude, don't answer if you feel uncomfortable, I mean no offense)
If you have to ask if you can afford it then chances are you can't.
It depends a lot on how much your student loan payment is....mortgage/rent...insurance....food....etc.
 

·
Registered
Joined
·
80 Posts
Discussion Starter · #4 ·
G6~Mike said:
If you have to ask if you can afford it then chances are you can't.
It depends a lot on how much your student loan payment is....mortgage/rent...insurance....food....etc.

Well, I guess its not really a question of CAN I afford it. Its more like SHOULD I afford it. I'm just curious as too how much people spend on their cars in relation to their income. If someone has some survey data or something on this, that would be interesting as well. I found a few results on google, but nothing all that great.

I realize that this question has a lot of factors that can't all be accounted for, but getting an idea of how other people live can help help in making personal decisions. Or at least not make me feel as guilty....
 

·
Registered
Joined
·
197 Posts
jp375 said:
Well, I guess its not really a question of CAN I afford it. Its more like SHOULD I afford it. I'm just curious as too how much people spend on their cars in relation to their income. If someone has some survey data or something on this, that would be interesting as well. I found a few results on google, but nothing all that great.

I realize that this question has a lot of factors that can't all be accounted for, but getting an idea of how other people live can help help in making personal decisions. Or at least not make me feel as guilty....
Well, Im paying $260/m and $305/m for the next 4yrs on my two new cars and my income is well above $50k
 

·
Registered
Joined
·
77 Posts
I didn't attend college* so I didn't have student loans to pay for. I was able to comfortably make a $10,000 down payment and finance for 4 years @ $360 per month. My income is just over $30K

*note to you youngsters, go to college! :)
 

·
Registered
Joined
·
77 Posts
jp375 said:
I'm starting to get the feeling that it would probably be smarter to keep my Civic and wait a few years to get a new car. I hate doing the right thing....
Is the Civic paid for? I can tell you what I did and what I plan to do again. When the previous car I had was paid for, I kept "making" payments to a seperate bank account in the same amount for almost 4 years. That's how I came up with a 10K down payment, and the *only* reason I could afford the car.

Good Luck with your choice.
 

·
Registered
Joined
·
33 Posts
There is a saying that goes something like this, Build your barn before you buy the cow. Well I didn't listen to this philosophy and when I got my first big job I went out and bought my dream car. Brand new mustang Gt. And then my new car sat on the street at my apartment, In the rain, snow, etc.. Then I had to pay to store it, and then the insurance went up, and then I wanted to buy a house but with a $440 a month payment and $120 a month in ins. It was hard to save any money.

Do you have a garage?, live in the city? Possibly moving to a city where you don't need a new car? These are all things to think about.

So anyway, I don't know what your situation is. If everything else is taken care of. House, bills, student loans, etc and you are postive you can afford it get it.

If not, I know you probably have the itch to buy something. I would save my money and drive the wheels off whatever I owned. Or buy a nice used car and try and get a couple years out of it.
 

·
Registered
Joined
·
80 Posts
Discussion Starter · #17 ·
sixspeedsix said:
There is a saying that goes something like this, Build your barn before you buy the cow. Well I didn't listen to this philosophy and when I got my first big job I went out and bought my dream car. Brand new mustang Gt. And then my new car sat on the street at my apartment, In the rain, snow, etc.. Then I had to pay to store it, and then the insurance went up, and then I wanted to buy a house but with a $440 a month payment and $120 a month in ins. It was hard to save any money.

Do you have a garage?, live in the city? Possibly moving to a city where you don't need a new car? These are all things to think about.

So anyway, I don't know what your situation is. If everything else is taken care of. House, bills, student loans, etc and you are postive you can afford it get it.

If not, I know you probably have the itch to buy something. I would save my money and drive the wheels off whatever I owned. Or buy a nice used car and try and get a couple years out of it.

I think you nailed it right there. I think I'm gonna wait with the G6. :(
 

·
Registered
Joined
·
107 Posts
MP2 said:
I didn't attend college* so I didn't have student loans to pay for. I was able to comfortably make a $10,000 down payment and finance for 4 years @ $360 per month. My income is just over $30K

*note to you youngsters, go to college! :)
Oh man we are like in the same boat except I went to college. I graduated less than a year ago though and plan on making much more either through raises or a new job in the next year or two. Like same payments and everything.

I put 12 grand down and am paying the rest off over 4 years. My payments are somewhere around $320 a month. If you live with the rents you can easily afford one depending on how much you put down. If you live on your own maybe not, it all depends.

The real killer is the insurance. I pay insurance every 3 months. Car insurance payment month is absolutely killer when you combine it with the car payment, student loans, and misc. other bills I pay.

Don't forget to factor in insurance to how much you can afford. I'm paying over 2k a year with no tickets and one accident that was my fault over 5 years ago (so I don't think it counts anymore).

*Edit: I don't regret my purchase at all, but looking back on things the "smart" thing to do would be to have just bought a used car outright for the money I put down on my G6. Problem was there are very few cars out there I can afford, that I like, with decent mileage on them.

I would suggest saving up and making a big fat down payment on the car, that will help your montly payments so much. Because I was putting down approx. half the cost I was also able to get the lowest rate possible for financing despite my lack of credit history.
 

·
Registered
Joined
·
40 Posts
I only put down $2,000, but I also got $2,000 from GM Card towards a new vehicle. I also got the $750 rebate from GM. I also got to take advantage of the GM Supplier Discount which got me about 1500 bucks off MSRP.
 

·
Registered
Joined
·
169 Posts
jp375 said:
1) What was the purchase price of your GTP?

2) What do you pay for a monthly payment?

3) What is your before tax annual earnings? (I know this question is a bit rude, don't answer if you feel uncomfortable, I mean no offense)

1) $28,500. Yeah, that sounds high, but I got the first one on the ground in KC (County didn't even have a tax class for it when I got the tags) and there were no rebates or incentives available yet. Just had to have it.

2) About $65/month for insurance.

3) $127,000. Like MP2 said: GO TO COLLEGE.
 
1 - 20 of 38 Posts
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Top