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  • #46
    Originally posted by Random1 View Post
    Have $60k in the bank, would put maybe $25k down and keep payments around $500 a month.

    Buy a car for 25,000 and keep 35 in the bank and have no payments, would be a better financial choice. The question is whether you need a new car for 53,000 or want a new car that costs 53,000. I dont think it is going to break the bank, for you.

    Growing up , we had a toyota starlet, which makes those tiny chevy's look big. I was one of three and my brother was 250 lbs sitting in the back seat next to me. Some how we didn't need a new car, because that was our new car. My dad also didn't like paying extra for air or windows with little buttons when you could roll them down yourself just as easy. The point is, figuring out what you need and what you want and how it fits into your financial plan. Putting that extra 35 in a retirement plan and brokerage account now , may make a substantial difference in 20 years
    Agree with the points above, the decision as outlined is probably the ideal for the budget-minded majority on this forum (unfortunately a minority mindset for the rest of the general population and physicians too). Particularly for a new attending, it's easy to get on the hedonic treadmill, it's harder to get off. And so you know where I am coming from: I am 5 years into attending-hood and I still drive a 12+ year old Honda accord, and when my wife's car was totalled we replaced it with a 1-year old vehicle off-lease on with an extended 5-year certified warranty for just under 30K. Maybe a lightly used corporate vehicle or certified used 1-2 year old car is the way to go?

    Now that being said, used vehicle market is insane right now. I also agree with others that at least in a tesla model Y, the 3rd row usefulness is questionable, it's just a very tight space (not Lexus RX3 "tight", but tighter than say Acura MDX). Do a few more test drives, but as suggested Honda Pilot is certainly OK. You should also consider Toyota Rav4 Prime, which is a solid, solid vehicle that will last you a long time, has decent acceleration/styling, should hold its value etc. With the 7.5K tax credit, your take home price should be around 33-37K depending on the trim level and extras and that way you can still take advantage of your solar panels with 40 miles all electric range.

    I would probably aim for RAV4 prime myself, but I am holding out for another year to see if the car market loosens up a bit and hate to say it, but Rav4 is blaaaaand and just super common. I was also pretty high on VW ID4 when it was announced but after test driving it, no go. ID4 is a car appliance, in both the best and worst sense of the word. So now waiting to see what happens with Ioniq 5 or maybe even the base/commercial version of Ford F150 lightening, both of which should be around 35K after tax credits. Fast charging on the Ioniq (faster than most Teslas) and newly announced open access to supercharger network for non-Tesla vehicles is intriguing, but I don't want to buy first model year, let them iron out the wrinkles. Sorry to hijack the conversation, but anyone else looking at Ioniq 5?

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    • #47
      Originally posted by Craigslist View Post
      500k in loans, i make less than that in income, i still bought a model y, no ragrats
      I never have any regrats

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      • #48
        How tall are you? I would bring your carseat and put it in any of the cars you’re thinking of getting. I’ve heard the Tesla is tight for rear facing car seats. Also look up The Car Mom on YouTube. She reviews all the cars with families as the focus!

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        • #49
          compact suv has been fine for family of 4 95% of the time. other 5% has been travelling with substantial luggage (could get roof rack), guest squeezed between car seats, or need for more than one guest.
          “. . . And the LORD spake, saying “First shalt thou take out the Holy 401k. Then shalt thou save to 20%, no more, no less. 20% shall be the number thou shalt save, and the number of the saving shall be 20%. 25% shalt thou not save, neither save thou 15%, excepting that thou then proceed to 20%. 30% is right out . . .””

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          • #50
            Originally posted by Marko-ER View Post

            I never have any regrats
            And I never have any ragrets.

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