You make $20,000 per year: should you buy a new $20,000 Mazda 3, or a new $50,000

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honesty_counts

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Lexus IS-350 ? I really hate used cars, so I absolutely MUST buy brand new.
Unfortunately my salary is rather low.
I want a fun car, something that I can have fun throwing into the corners.

Which of those two would you get if you were me, you had very little money, but wanted a 'Cool car' ??
 
I think your going for a status thing more than a car. You make 20,000 a year you buy that lexus your looking at 700+ a month for a car payment and a mazda 3? No way!! Do some research before you do anything your looking for a fun car to throw into corners? On your salary i would say mitsubishi lancer, subaru, srt4 neon cars like that also there is nothing wrong with used cars buying a new car isnt a great thing to do especially on you salary!
 
I make about $25,000 a year and I wouldn't be able to afford either of those cars unless I got a new job with higher pay.

In fact you'd probably be pushing it with $7500-$10,000 for a car.
 
well, not looking at the car price, you will have a lot more expenses with the lexus (insurance) and you wont hhave fun throwing it at the corners because its a 50 grand car, Id go for the mazda in your place, think of the long run
 
LOL if you making $20k a year you won't be getting a loan for a new car. Your fiscal situation dictates that you get a used car, and probably not great one. Your price range is going to be around $5000 for so at best. Rest assured that no bank or dealership will finance a car that costs more than you make a in year, your delusional if you think otherwise.

For $5000 you could pick up a 240SX in good condition, or an older Miata, or possibly an older Probe GT.
 
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