Quote:
Originally Posted by M340Why
I should’ve clarified, the statement was made with the assumption that the person is single. My original post was to highlight how with leverage, a decent income, and the priorities of a car enthusiast you don’t have to be a millionaire to drive a $100k car.
Also, If you think a $1000 car payment on $150k income is bad don’t work at a dealership you’ll be sick to your stomach lol. Count how many brand new trucks and full-size SUVs you see the next time you’re on the road. Those are about $60-80k before taxes and fees, do you think everyone driving those is living by the 10% rule? The majority of them are financed for $800/84 months because going into debt to keep up with the Jones’ is the American way.
At the end of the day I think everyone should do whatever makes them happiest. If an M5 parked in front of the shed you live in makes you happy who am I to tell you you’re wrong? That’s the beauty of choice
|
Most expensive car payment I've ever had, and I've had a lot of cars, is a new business truck I bought. $550 per month which is just insane to me but the interest was so low and price so good it made sense. It's on a 60 month which I also don't like. Typically I do 36 or 48 month at most. If the interest isn't near inflation I won't do it.