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Discussion Starter · #1 · (Edited)
So I've recently had discussions with friends/family about the relationship between a persons salary and car. Obviously, as your salary increases, so does the likelihood of you buying a more expensive car. Of course, there are cases where a person can have a family member buy them a car, they inherited a small fortune from a rich uncle, etc. but we're mainly just focusing on the correlation of salary and new car price. There are also some people who have an annual salary less than the price of their new car and their are some people who make 10 times the amount of their car - let's just consider them outliers. Other financial factors to consider as well are kids, mortgage, etc.

I can understand that some people find that your salary is private information and, if that's the case, that's fine, you don't have to respond. But for those who are willing, what is your salary? You can provide a range if it makes you feel more comfortable.

Let's assume a few things:

- You have a career
- You're over 25 and under 65 years old
- You pay rent or have a mortgage
- You have kids or are planning on having one soon

There may be some other factors I haven't included so, if you have any, please share.

To get things started, here are some details about me:

- Salary: $80-90k
- Age: 31
- Location: Canada
- Financial obligations: Home mortgage, future wedding and kid
- Considering: Q50 AWD Premium w Nav or Nav Deluxe Touring Tech ($44-$49k)

In the end, I'm curious to see if most of us who are seriously thinking about purchasing/leasing a Q50 are roughly the same demographic and whether or not we should be considering this car or not.
 

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OK,

I'll bite:

Salary: North of 300k (I'm a physician) (I'm also retired from the US Army with a pension).
Location: USA
Age: 47
Mortgage (50%) of house value.
1 kid entering college (1/2 tuition scholarship but still 24k a year, saved in 529 accounts since born.)
2 more kids to enter college in 3 and 4 years from now. Should have most in a 529.
Maintain an apartment because I work 75 miles from my home (added expense and on call necessity).

Venetian Ruby AWD Sport Hybrid with all the trimmings. Haven't pre ordered because I need to see it and get the actual specs on the Hybrid before pulling the trigger.

I currently drive a 2005 Acura 6MT A-spec and like it. BMW and Mercedes have never been my thing. Audi front grill and ergonomics I find a little odd but would buy a Audi S5 Cabriolet if it was a diesel or plug in Diesel hybrid.

Hate that I can't get Wheat Interior with Venetian Ruby. Have test driven everthing but no BMW or Mercedes or Audi was the total package above my A-spec 6MT.

I consider cars a necessity but waste of money. I keep them for a long time. Just bought the wife a VW TDI Convertible and daughter drives a Prius (yuck!).

Latrant
 

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I'll bite too.

Salary between 80 and 100k USD.
Rent, no mortgage.
No wife, no kids, no problems.
Age: north of 30, south of 40.
Preordered: Hagane Blue Deluxe Touring with 17's, non-Sport. Being practical over time rather than overly ambitious. I can always upgrade the bumper, grille and wheels to match the Sport later, but I won't have the suspension or brakes to match.

I think if you're close to 100k USD you're safe buying or leasing one of these depending on your obligations and your spouse's income.
 

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Long story short: $130k,US,rent,wife,2 kids,37 yrs
Pre-ordered (lease) Q50 AWD Premium with all packages beside the most expensive one
MSRP $49k
 

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- You have a career - Nope, I'm retired
- You're over 25 and under 65 years old - I'm 68
- You pay rent or have a mortgage - O.K., that I have
- You have kids or are planning on having one soon - Nope, long gone


As I stated in another thread, this will be my 27th car. I've reach the point in my life where I believe in the philosophy of Tom Cruise's friend in "Risky Business." Remember where he said that every once in a while you have to say "WTF," and do something crazy. Well, who knows how long one has to be able to do the things one wants - so: WTF.


 

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Discussion Starter · #6 ·
I've reach the point in my life where I believe in the philosophy of Tom Cruise's friend in "Risky Business." Remember where he said that every once in a while you have to say "WTF," and do something crazy. Well, who knows how long one has to be able to do the things one wants - so: WTF.
I gotta agree with this! Or, as the new generation says, "YOLO!" (You Only Live Once). Although it may be hard to make a decision on certain things, you just gotta do it sometimes to experience it.
 

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Not sure the need for this forum to determine affordability. I disagree with the blanket statement that one's annual income should be in the neighborhood of $100k in order to pick up a Q50 car that starts off at $36,450 base. Here's a basic formula to help determine if you can afford whatever car you are considering; I've taken these notes directly from my personal financial adviser (and my former personal wealth mgmt. professor from a top ranked b-school):

A.) Qualifying for Car/Consumer Loan
Affordability Ratio
(Rent & MTHLY PMTs) / (GROSS Income) <= 36%
30-40% Range
If over 36%, probably won't get the loan!
(This is the basic formula that lending institutions generally use before granting prime loans--credit worthiness aside.)
Or in this case, if your affordability ratio equates to >36%, then you probably shouldn't purchase/lease the vehicle.

Btw,

I'm 24, renter, unmarried w/ no children, Master's degree, Accountant. (I won't reveal my salary but I live a comfortable life.)
Pre-ordered the Q50 Sport w/ Navigation & Deluxe Touring. Liquid Graphite w/ Graphite interior.
Currently the proud owner of an '11 G37x.
 

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I made it a blanket statement because, to comfortably afford a well equipped model (nobody buys the Base with no moonroof except Enterprise and other fleets), depending on what you're paying for rent, you're probably best off being in or near a 6 figure salary. Most people look at this as an additional expense and are saving for retirement, raising kids, paying a mortgage, putting kids through college, etc..

Of course there will be anomalies like college kids that live at home and have no expenses but this and weekend money, or wealthy kids whose parents buy this for them. Generally speaking, to have the credit score to make this car affordable and accomplish other goals in life, 100k-ish is probably ideal. Not saying it can't be done lower, just justifying my concept. Being that you're an accountant, I imagine your finances are tight as a drum and you budget everything, so without being in the six figures, you can afford this without drama or great sacrifice. :)
 

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- Salary: $60-80k
- Age: 25
- Location: Canada
- Financial obligations: Rent
- Considering: Pre-ordered Q50 Sport AWD with Deluxe and Technology package ($51k before negotiations).

I live with my girlfriend and she makes an equivalent salary to me, and we split living costs 50/50. Once I complete my bachelors, my salary will get revised. I also have a couple factors mentioned in the OP that made this decision much easier to make, and verified with my financial planner that my decision was sound before committing to it.
 

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Well, not going to put salary info here but suffice it to say I could afford a much more expensive car but I work in an industry where almost all of my business comes from referrals and when the economy slowed down my wife suggested I not get another M and look at something like a Maxima since the good folks referring me business were experiencing a significant slowdown in their business. It was the right move for sure. When your referral partners are having trouble making their own car payments it's not advisable to roll up in a nice car when you are dependent on their support. So I test drove a G - VERY reluctantly- and actually loved the driving dynamics more than the M at that time (plus, it was the same body style M and they were not due for a refresh for a other 2 years so I wanted a bit of a change).

Liked the G so much that I leased another after that G lease was done.

The Q50 looks like a great upgrade to the G but keeps me out of the 'expensive car' category while giving me the options and tech I want.

I may return to the M if the leases are good - I think we may be through the worst of the downturn. However, the tech in the Q50 still draws me even if the lease payment are similar.

With this perspective over the past few years, I've looked at some of the cars I would really like to get and now I just don't see a reason to pay the premium for them. I think I will be very content/happy with the Q50 without flaunting the 'expensive car' vibe.

It's definitely nice enough without being over the top.
 
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I'm Active Duty Air Force - so my salary is always public!

I'm an E-7 making a modest $70K (after food and housing allowance is added, but not including bonuses or Hazard/Hostile Fire Pay when deployed)

I’m 38 (until tomorrow – that will be the last time I get to say 38)

I have: 1 wife / 2 kids / 2 mortgages (ones a profit earning rental)

I gave my wife my GI Bill and she just finished her 3rd year toward her Accounting Degree – so no income from her anymore – but soon.

Her car is paid for…. and I always lease. I love the smell of a new car – and they are horrible investments! So leasing is appealing to me. Plus I do get more car for the monthly.

I love my cars and having one that makes me happy is important.
I would hate to HAVE to settle and get an Altima (that’s what the wife drives). Great car – but not for me.

My leases have always been somewhere between the mid/low $400’s and has crept closer to $500 once.

My opinion: If you can take care of all your family’s needs, and all your other financial obligations, and want to spend the money…. Do what you do.
I advise my troops to make good sound financial decisions.
I always tell them what they SHOULD do with their money, and after you take care of business – take care of you!

Like a previous poster said – YOLO! I'll Live mine in the Infiniti!
 

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Happy early birthday NTOwens and thanks for your service!!!
 
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Happy early birthday NTOwens and thanks for your service!!!
+1! :)

Now about me..
DINK, do people even use that term now? That shows I'm older than most of you! :p Double Income No Kids. That made it easier to treat myself once a while. Mortages, of course. Both hubby and I are civilian physicians working at a military hospital. He loves German cars and I"m fan of Japanese car for a (generally speaking) softer ride, and definitely high tech Infiniti!:D

Pre-ordered AWD Hybrid Premium w/Deluxe touring & Nav for a lease. Malbeck Black + Graphite. ..
 

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Not sure what the point is here

I disagree with the premise of this thread, i.e. that a Q50 buyer should be near the so-called $100k club in income to make the purchase a responsible one.

The average family car sold in America is over $30k today. You can buy middle-class sedans such as the Malibu or Taurus for $40k without too much effort. Here in Texas, the proliferation of $45k "Texas Edition" and "Lone Star Edition" half-ton pickups is just this side of overwhelming.

The vast majority of these buyers do not make $50 an hour. They are regular folks in regular jobs just trying to get by. The Q50 is barely a step up in price, and so the idea that one must pull down six figures to buy this entry-level luxury sport sedan is goofy to me. Threads such as this one inevitably turn into a mine-is-bigger pissing match, which is sort of where this is headed.

The Q50 / G37 / G35 are nice little cars loaded with near-luxury features, technology and some amount of speed and handling, but Twentysomethings, let's not get carried away with the rather limited finances it takes to buy a $45k car. We ain't buying AMG Black Series here, folks!

DISCLAIMER: I am a member of your club. But I won't be coming to the board meetings. :D
 

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Average NEW car sold is >$30k. That doesn't include the majority of cars sold which are used cars, which greatly reduces that figure. Also, if you exclude the super high end cars and go off of median (as opposed to mean) price, it's significantly lower. Not saying I disagree with your premise as everybody's financial situation is different, but I'd guess if you checked the demographics of people buying an infiniti they'd fall into the top 35% of median household income.
 

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-___- guess I'm the youngest one here making the least but screw it. Salary 37K I'm 22 and trading in my 2007 Nissan Altima for the Qfif. Might also drop a couple Gs to drop my payment as well. No rent. No kids. USA.
 
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Mrkalu: if you have a bunch of roommates or live at home, it's all good. If only I was so lucky to be able to buy something like this at 22. Enjoy it young baller.

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Thank you. I manage my money well. I haven't moved out because I think rents a waste. I would rather own than rent so when I come across the perfect home, ill do that. My goal is by 25. I'm also single so that helps. I live with my mom she doesn't charge me rent I just pay bills around the house she's grateful for that and I am as well. I also have made a few here and there with the stock market and have a mutual fund with Edwards that's doing really well. Especially last year.
 

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Normally you can buy a car which is less $$$$$ than your 1 to 4 years salary if you have good credit and your overall expanse to salary ratio is lass than 40%.
 
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