Also, the person who gave you this “advice” doesn’t understand investing and you should probably avoid listening to them in the future.

What happens if OP loses their job in 18 months? Not that it could ever happen in our amazing Global Economy, of course. Imagine being unemployed and underwater on a used Civic that you can't give away and still cover your Note.

"Pennywise and Pound foolish."

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Federal Income tax calculations can be weird, especially if using the tax table tables. The tables take your total pay multiplied by the number of times in a year your will be paid and calculate the tax on that based on the sliding scale.

The total payment is basically 30K. This get multiplied by 26 paydays a year, and then the tax was calculated on an expected income of 780K/year. At a 30% tax rate (rounding the hell out of this) that's 234K in taxes or 9K per pay period, which with my rounding is dam close to the 8.8K in Income tax.

You should get a nice refund at the end of the year.

This is not "Good Debt", in case anyone was going to try to play that card. It's a waste of money. OP will effectively pay $30,000 for a $10,000 car.

There's a reason Einstein said "Compound Interest is the 8th wonder of the world" ;)

If you have the money in hand to payoff your home, only you can decide whether that freedom is worth it for you.

Huh? No, OP did not say that: >Recruiter said new hires must be able to relocate within 60 days of start date

If you get the job, negotiate the lease termination buyout as part of the moving expenses. It would not be wise to move to a very expensive city with no savings or emergency fund.

He divided $6100 by 20 since he likely works about 20 weekdays in a month.

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You are missing that presence is required from Day 1.

OP: It's hard without money.....you'll need a place to crash...airbnb, short-term rental, or hotel. Be forwarned...you'll need a lot of money down on an apartment. Might look for a roommate sublet to start??

Honestly just talk to them if/when you do receive an offer about relocation options, possibly see if you can sublease your current apartment, etc. Also work as much as you can on whatever is dragging your credit down so much.

But the other side of the coin is that poverty and poor credit can be a self defeating cycle, and many people cannot just up and move even for the opportunity of a lifetime in a situation like yours.

Please, if all you know about Personal Finance is from r/Personalfiance, stop posting.

Money is Math. There are no "emotions", "splurging" and "treating yo self", in the early days and if you really want to get ahead.

There is no scenario in which a multi-year car payment with INTEREST is "good"/"better" than paying for an equivalent car in Cash.

Get your emotions out of your money, or you will be broke forever.

As a New Yorker, I would very much caution coming here without at least some cash on hand because it’s an expensive city. Beyond the obvious, if it’s a great tech company— why aren’t they paying to break your lease and pre-paying moving costs? If that’s not possible, I’d suggest moving later as opposed to piling on a bunch of debt moving to an expensive place with low credit. Just my thoughts. I’d get them to pay as much as they can first.

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Do you want to buy assets when they are relatively cheap or relatively expensive? This is the best time to buy.

Most dealers want to finance the vehicle they sell you, as they make a nice commission from the bank.

Never tell the dealer upfront, that you will be financing it elsewhere, or that you are paying in cash, as they will charge you a higher price to compensate.

About the "no prepayment penalty" that’s following the law. But, car loans like mortgages are so heavily weighted towards paying off mostly interest in the beginning, before significantly paying down the principal.

If you take the dealership’s financing, and refinance it a month later, you will be paying dearly….which is why they told you to do it.

As others here have said, find another dealer!

Haha I know being VERY optimistic here. Just wondering if it’s worth the hassle when logistically thinking about the move.

The only thing about your choice is that you bought new. It’s way more expensive then buying a two year old car. You gotta pay for insurance and gas now on top of your monthly budget. Insurance will be more for new then used. Looks like you got the cash for it tho.

You aren't eligible for unemployment while you're still employed.

If you quit, you may have a case in California under the "constructive dismissal" doctrine. I'm not an employment lawyer, but based on minimal searching it seems like a reduction in hours without other acts of hostility/retaliation would probably not qualify. You could call a real lawyer and ask if they have free consultations.

I learned the hard way years ago that getting PTO paid out on exit is a total waste. This was 15-ish years ago, but between the company policy on what rate was used and the fact that you pay tax on it, I would have been way better off taking a couple weeks off before handing them my notice.

Why would you do that to yourself if you’re already in debt. If you absolutely need a car, buy a beater for 8k and focus on paying down your CC debt before interest kicks in.

As another poster mentioned you're going to spend $31,000 on a $22,000 car that will be worth $10k by the time it's "paid off".

But why?

Pro Tip: Learn Math! It can save you A LOT of money, which is handy when it comes to matters of "Personal Finance". No, really. It does. I promise.

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Well first, get the job lol. Don't start all of this planning in your mind until it's secured.

Secondly, if you have to relocate within 60 days, surely they would pay you the relocation sum within the first few paychecks, allowing you to move.