Should I buy a new lexus?

Should I buy a new lexus? - 1

Added (1). I'm 24 working as an engineer making $70k +. I still live at home looking to get an apartment in the next couple months. I drive a 2011 honda civic and my parents want me to get a new car because recently its giving me problems.So lexus has come out with a new version of the is250 and it would cost around 40k. My dad said he would put the down payment of 20%. My monthly payments will be about $500 a month. My current expenses are around 1k a month. I have over 30k saved/invested.

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You work hard and deserve it. Buy it or lease it (the payments will be much less per month)

If that is what you want, go for it.

But since cars are depreciating assets and new cars depreciate quickly, I suggest buying a 3 or 4 year old car instead. They are still new enough that you will likely get years of trouble-free driving out of them but can be had for at least half of what it cost to buy when brand new. That's what I do.

I would fix the Civic. But you seem to be in a position to afford the Lexus. Except for one thing. Why is your Dad putting up the down payment while you have $30,000? Hope you are very generous when paying room and board

Focus on getting your new digs first. After a year you know much better if you can afford Lexus or similar. Your Civic will certainly treat you well in the interim.

I wouldn't. Avoid debt forever. Except for a house.

I drive a 94 model. I'm a millionaire. Surely you can repair the Honda and get another 5-6 years out of it anyway.

Not sure what your question is. Is Lexus a good car? Yes. Are there other cars that are as good but less expensive? Yes. Can you afford it? Probably. Do you want it? Probably. Do you need it? Fixing the old car will be less expensive, but maybe that's not your first priority. At 24 years old, not sure why you can't make adult decisions on your own.

"Should I buy a new lexus?" - "My current expenses are around 1k a month. I have over 30k saved/invested."
-- A new car is tempting but do you think is it more important to get a nice new car or an semi-old car with xx, xxx miles and save up for the future. You're a 24 year old and you should be saving up for the future. If the car is your dream car, by all means go for it. But you are better judge of your financial situation.

If the employer produces cars, then best is to buy a car of the same brand, that always comes over good to the emloyer ; ) if that is lexus, then yes, else the same brand of the employer. If the employer has nothing to do with cars, then it won't matter for the employer what car brand the emloyee drives.

lexus is a quality brand car, beside the relation to the employer, its a quality car to own.