Yes you are high risk. Any male under the age of ~25 is high risk. Let alone you are trying to get into a high performance coupe. Your insurance will be a fortune alone.
Quote:
Originally Posted by F32
Any teen with no other expenses can afford a 4-Series lease plus gas and insurance with an average part-time job.
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Assuming part time, 20 hours a week. Assuming teenage job, $10 an hour. Assuming 4 weeks a month. Assuming total state, federal, medicare and social security tax rate of 10%.
You're looking at just over $700 a month in income.
A 435 payment will be at least $450-500/mo. Your gas will be at least $150/mo. Your insurance will be at least $200/mo. Totals to $800 a month. This is a conservative estimate ...
But wait, there's more! Don't forget about the excise tax of a few hundred to a thousand dollars up front, or the total due at signing which is a few thousand (assuming you're leasing, since unless you have 15,000+ in the bank there's no way you can finance)
So if you want to throw away every penny you make each month to get into a car you cannot afford before you are 20, so be it. You will finally have the car you've always dreamed of having! But have no money to do anything with it and no where you can afford to visit.
This must be one of the craziest things I've read on here in a while.