Throwaway account because my other one had too much personal stuff on it.
I've had the topic's discussion in my head for the past 6 months and I stay up at night thinking about it regularly.
I have a great job that is very secure, I have 2012 Mazda3 that I got in 2013 that has cost me in gas, oil changes, and tires (no issues, I've been lucky) with 55k miles on it. I have $27,000 in the bank, saving approximately $3000 a month. And I want a used Tesla Model X before the end of the year (willing to spend around $60k). And I want it before my first home.
I keep leaning back and forth between the two. My yolo side saying, get the car of your dreams, you'll own it for 10 years, and love it. My responsible side is saying save for the house. The thing is, either way, I plan to sign another 1.5year rental lease in September. And when it ends, I plan on buying a house, it will just be with a lower down payment if I have the car.
So do I buy the car and enjoy it while I wait, and end up paying a PMI when I get the house in 2 years. Or have a bigger down payment, and ride it out with the Mazda3 that I dislike driving.
PS. I have free charging at my apartments so I'd be saving over $1200 a year in gas :D
Some other notes:
I live in California and would like to purchase a home in the $600,000 range.
I can save approximately $50,000 a year.
I would buy the car with cash.
Submitted February 19, 2019 at 11:09PM by HeartBurnAddict https://ift.tt/2BJQ9Ip
