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How much can you comfortably afford per month for car payment
05-23-2022, 03:03 PM
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#91
- Beararms
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Originally Posted By Jestbrah⏩
Im with this guy. Having some financial discipline is good but some of yall really take it to the extreme that you're willing to sit at home till your 60 doing absolutely nothing just so you can enjoy the last 25 years of your life when you're already old. People have hobbies and they cost money. For a lot it is worth the expense as long as they're happy.misc is weird AF to me maybe its because I dont live in NY or cali but I make 60k a year drive a nice ass truck and own a house and enjoy my life.
Fuking miserable lives some of yall may have if you think you need to make 200k a year to drive a 20k car FFS. Learn to play the game instead of being a slave to it and only enjoying life once you become 45.
I think most people would save more than their car payment if they didnt eat our/buy alcohol. Yall are over here bitching about a $300 a month car payment when i bet a lot of yall are dropping $400-500 a month on eating out and drinking and gaming.
Fuking miserable lives some of yall may have if you think you need to make 200k a year to drive a 20k car FFS. Learn to play the game instead of being a slave to it and only enjoying life once you become 45.
I think most people would save more than their car payment if they didnt eat our/buy alcohol. Yall are over here bitching about a $300 a month car payment when i bet a lot of yall are dropping $400-500 a month on eating out and drinking and gaming.
Take that little truck payment and go on with your life. Its a good deal in my eyes. 95% of the population would still be walking and living in tents if we all had this "if you cant buy it cash, you cant afford it" mentality.
05-23-2022, 03:08 PM
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#92
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Originally Posted By Beararms⏩
i always like to remind myself no one gives a fuk about the 50 year old lady who is now 180 lbs, greying hair but dying it monthly wrinkled to hell who buys the new Challenger finally. Like no dudes anymore are going to think shes hot and no one but other old ladies going through mid life crises will see her as cool.Im with this guy. Having some financial discipline is good but some of yall really take it to the extreme that you're willing to sit at home till your 60 doing absolutely nothing just so you can enjoy the last 25 years of your life when you're already old. People have hobbies and they cost money. For a lot it is worth the expense as long as they're happy.
Take that little truck payment and go on with your life. Its a good deal in my eyes. 95% of the population would still be walking and living in tents if we all had this "if you cant buy it cash, you cant afford it" mentality.
Take that little truck payment and go on with your life. Its a good deal in my eyes. 95% of the population would still be walking and living in tents if we all had this "if you cant buy it cash, you cant afford it" mentality.
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05-23-2022, 03:11 PM
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#93
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Originally Posted By iamdetermined⏩
I fully agree with this.If you are serious about getting a house then a $400 car payment is your enemy and will put quite a dent in your DTI (debt to income) ratio. Not to mention missing out on the savings. Ideally buy it flat-out but if that isn't possible get your car payment as low as you can with the best terms that avoid going under. I'd aim for under <$250 so no brand new trucks or anything nice. You need a used sedan...something cheap and reliable from Nissan or Honda. Pay it off and keep it till you're a millionaire.
I bought a car I couldn't afford before and it's nothing short of embarrassing. A few people will think you're cool but anyone with financial sense will lol @ you pulling up to an apartment in a brand new Tacoma.
I bought a car I couldn't afford before and it's nothing short of embarrassing. A few people will think you're cool but anyone with financial sense will lol @ you pulling up to an apartment in a brand new Tacoma.
I drive a great spec volvo s60 2011 with 90k miles and owned by this Volvo
enthusiast so well mantained. Paid 40% cash and I only pay around $100 in loan for it per month. If you are looking for a "newer" car and not a 2000 year beater do something like this srs. The $100 doesn't really matter since I save 10x that per month and live comfortably. Don't plan on selling it. I agree with others here that you shouldn't buy a brand new car and pay $700 a month for 10 years.
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05-23-2022, 03:17 PM
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#94
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I don't like having car payment so I pay cash, or borrow an amount I can pay off in a few months
05-23-2022, 03:26 PM
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#95
- Gronnie
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Originally Posted By Jestbrah⏩
Serious question -- how ****ed would you be if you lost your job tomorrow with a big ass truck payment and a mortgage?misc is weird AF to me maybe its because I dont live in NY or cali but I make 60k a year drive a nice ass truck and own a house and enjoy my life.
Fuking miserable lives some of yall may have if you think you need to make 200k a year to drive a 20k car FFS. Learn to play the game instead of being a slave to it and only enjoying life once you become 45.
I think most people would save more than their car payment if they didnt eat our/buy alcohol. Yall are over here bitching about a $300 a month car payment when i bet a lot of yall are dropping $400-500 a month on eating out and drinking and gaming.
Fuking miserable lives some of yall may have if you think you need to make 200k a year to drive a 20k car FFS. Learn to play the game instead of being a slave to it and only enjoying life once you become 45.
I think most people would save more than their car payment if they didnt eat our/buy alcohol. Yall are over here bitching about a $300 a month car payment when i bet a lot of yall are dropping $400-500 a month on eating out and drinking and gaming.
Why would OP want to be like everyone else ie normal? Normal is broke. The vast majority of Americans can't come up with even $500 in an emergency.
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05-23-2022, 03:46 PM
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#96
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Originally Posted By _zman⏩
4x4 I can’t get a 4x2 they said 60 months 313$ a month I’m not gonna do itIs that a 4x4 or 4x2? I think 4x2 is less than $20k new depending on options in 2011.
And 268x72= 19,296
https://pressroom.toyota.com/toyota-...-pickup-truck/
And 268x72= 19,296
https://pressroom.toyota.com/toyota-...-pickup-truck/
05-23-2022, 03:48 PM
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#97
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Originally Posted By Beararms⏩
Lol thank you brah I see your point maybe I will reconsider I guess $313 isn’t badIm with this guy. Having some financial discipline is good but some of yall really take it to the extreme that you're willing to sit at home till your 60 doing absolutely nothing just so you can enjoy the last 25 years of your life when you're already old. People have hobbies and they cost money. For a lot it is worth the expense as long as they're happy.
Take that little truck payment and go on with your life. Its a good deal in my eyes. 95% of the population would still be walking and living in tents if we all had this "if you cant buy it cash, you cant afford it" mentality.
Take that little truck payment and go on with your life. Its a good deal in my eyes. 95% of the population would still be walking and living in tents if we all had this "if you cant buy it cash, you cant afford it" mentality.
05-23-2022, 03:59 PM
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#98
- Nonsense916
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Originally Posted By Jestbrah⏩
damn boyo you sure have a ego for someone who makes only $60kmisc is weird AF to me maybe its because I dont live in NY or cali but I make 60k a year drive a nice ass truck and own a house and enjoy my life.
Fuking miserable lives some of yall may have if you think you need to make 200k a year to drive a 20k car FFS. Learn to play the game instead of being a slave to it and only enjoying life once you become 45.
I think most people would save more than their car payment if they didnt eat our/buy alcohol. Yall are over here bitching about a $300 a month car payment when i bet a lot of yall are dropping $400-500 a month on eating out and drinking and gaming.
Fuking miserable lives some of yall may have if you think you need to make 200k a year to drive a 20k car FFS. Learn to play the game instead of being a slave to it and only enjoying life once you become 45.
I think most people would save more than their car payment if they didnt eat our/buy alcohol. Yall are over here bitching about a $300 a month car payment when i bet a lot of yall are dropping $400-500 a month on eating out and drinking and gaming.
I made that last year in crypto
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05-23-2022, 03:59 PM
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#99
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Originally Posted By Gronnie⏩
not ****ed at all, I have a savings, my truck is way in the positive for its value, my house is double in the positive for equity, and my skillset is advanced enough I could become and independent contractor and make what I am making now in a couple months. I didnt say be stupid and dont have a contingency plan. I also crafted my life to be the way it is it didnt just happen by chance or me just going with the flow and not consciously making my life be this way.Serious question -- how ****ed would you be if you lost your job tomorrow with a big ass truck payment and a mortgage?
Why would OP want to be like everyone else ie normal? Normal is broke. The vast majority of Americans can't come up with even $500 in an emergency.
Why would OP want to be like everyone else ie normal? Normal is broke. The vast majority of Americans can't come up with even $500 in an emergency.
Just saying you dont have to constantly chase money and spend extremely below your means and if you do that your whole youth, who gives a **** what you have when you are 50, its no longer as cool anymore and just normal.
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05-23-2022, 04:02 PM
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#100
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Originally Posted By Nonsense916⏩
i hope this post made you feel better about yourself. Cheers.damn boyo you sure have a ego for someone who makes only $60k
I made that last year in crypto
I made that last year in crypto
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05-23-2022, 04:05 PM
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#101
- Nonsense916
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Originally Posted By Jestbrah⏩
Can’t say it did.I didn’t get the paragraph reply I was waiting fori hope this post made you feel better about yourself. Cheers.
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05-23-2022, 04:05 PM
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#102
05-23-2022, 04:11 PM
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#103
Originally Posted By Jestbrah⏩
Yeah, I suppose it's a good time to finance a car you can barely afford while still paying student loans and saving for a house during record inflation and used car prices are up 35-40%.misc is weird AF to me maybe its because I dont live in NY or cali but I make 60k a year drive a nice ass truck and own a house and enjoy my life.
Fuking miserable lives some of yall may have if you think you need to make 200k a year to drive a 20k car FFS. Learn to play the game instead of being a slave to it and only enjoying life once you become 45.
I think most people would save more than their car payment if they didnt eat our/buy alcohol. Yall are over here bitching about a $300 a month car payment when i bet a lot of yall are dropping $400-500 a month on eating out and drinking and gaming.
Fuking miserable lives some of yall may have if you think you need to make 200k a year to drive a 20k car FFS. Learn to play the game instead of being a slave to it and only enjoying life once you become 45.
I think most people would save more than their car payment if they didnt eat our/buy alcohol. Yall are over here bitching about a $300 a month car payment when i bet a lot of yall are dropping $400-500 a month on eating out and drinking and gaming.
Misc is weird, ur right.
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05-23-2022, 04:32 PM
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#104
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Originally Posted By _zman⏩
yup, better to just keep reading Dave Ramsey about how its important to pay the banks back and focus on spending your whole youth doing that.Yeah, I suppose it's a good time to finance a car you can barely afford while still paying student loans and saving for a house during record inflation and used car prices are up 35-40%.
Misc is weird, ur right.
Misc is weird, ur right.
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05-23-2022, 05:34 PM
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#105
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A lot of Dave Ramsaycels here.
I would finance a car instead of paying cash for it if the interest rate is low.
Coming from a guy with no car payment.
I would finance a car instead of paying cash for it if the interest rate is low.
Coming from a guy with no car payment.
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05-23-2022, 06:07 PM
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#106
- Tornach
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I only read the first 50 posts. (50 posts per page master race)
I will offer some advice that probably hasn't been shared yet. Join a local fishing group page on ********. Ask if anybody is looking for a fishing partner (no homo). Offer to pay for the gas to and from fishing spots. Help out with bait etc.
That would save you a small fortune and you'll meet like minded people. People interested in fishing are some of the friendliest people you can meet and you'll get plenty of offers if you explain your situation regarding the truck and being a recent college graduate.
And regarding the people you see driving newer vehicles, the majority of them are up to their eyeballs in debt. All of the millionaires I know look like they are broke and drive normal vehicles with the exception of one family.
Stay debt free.
I will offer some advice that probably hasn't been shared yet. Join a local fishing group page on ********. Ask if anybody is looking for a fishing partner (no homo). Offer to pay for the gas to and from fishing spots. Help out with bait etc.
That would save you a small fortune and you'll meet like minded people. People interested in fishing are some of the friendliest people you can meet and you'll get plenty of offers if you explain your situation regarding the truck and being a recent college graduate.
And regarding the people you see driving newer vehicles, the majority of them are up to their eyeballs in debt. All of the millionaires I know look like they are broke and drive normal vehicles with the exception of one family.
Stay debt free.
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05-23-2022, 06:11 PM
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#107
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Originally Posted By Tornach⏩
i always hear people say this but rarely see it. All the millionaires i know drive nixe BMW's, mercedes, 90k tahoes, 90k trucks, and have tons of toys.And regarding the people you see driving newer vehicles, the majority of them are up to their eyeballs in debt. All of the millionaires I know look like they are broke and drive normal vehicles with the exception of one family.
Stay debt free.
Stay debt free.
I really rarely see a millionaire not flaunting their money somewhat.
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05-23-2022, 06:23 PM
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#108
- Tornach
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Originally Posted By Jestbrah⏩
It's probably due to the guys driving normal vehicles not bragging about how much money they have.i always hear people say this but rarely see it. All the millionaires i know drive nixe BMW's, mercedes, 90k tahoes, 90k trucks, and have tons of toys.
I really rarely see a millionaire not flaunting their money somewhat.
I really rarely see a millionaire not flaunting their money somewhat.
The flashy millionaires are damn sure going to tell you how much they have.
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05-23-2022, 06:33 PM
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#109
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Originally Posted By Tornach⏩
you make it sound like I dont know the people in my life.It's probably due to the guys driving normal vehicles not bragging about how much money they have.
The flashy millionaires are damn sure going to tell you how much they have.
The flashy millionaires are damn sure going to tell you how much they have.
If I have like 100 acquaintances in my life and 15 are millionaires and they all drive cars worth 90k+ , I dont need to know how many millionaires I dont know are driving around in what. Based on that sample size and result I can make a conclusion for myself without guessing if joe blow in a camry is a millionaire or not. Odd logic.
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05-24-2022, 04:59 AM
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#110
- nutsy54
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Originally Posted By Jestbrah⏩
Nothing in Dave Ramsey's advice says to "spend your whole youth paying the banks back". Damn, I wish we had a "roll eyes" emoticon.yup, better to just keep reading Dave Ramsey about how its important to pay the banks back and focus on spending your whole youth doing that.
First off, his advice is DON'T go into debt to begin with. If someone is deeply in debt, it usually takes 2-3 years to get out of consumer debt and get back to enjoying life... debt-free. Then the mortgage is gone in less than a decade, and that lets us explode investing, charity giving, and really enjoying life as we see fit.
I've played the debt-loving game, and am now firmly entrenched in debt-free. Never going back.
05-24-2022, 05:00 AM
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#111
- nutsy54
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Originally Posted By Jestbrah⏩
Then you're literally missing all the millionaires whoaren't"flaunting their money". There's no way you'd know someone's net worth unless they tell you.I really rarely see a millionaire not flaunting their money somewhat.
Edit: Tornach beat me to it
05-24-2022, 05:38 AM
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#112
- maverickTT1
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Originally Posted By Jestbrah⏩
Agree!misc is weird AF to me maybe its because I dont live in NY or cali but I make 60k a year drive a nice ass truck and own a house and enjoy my life.
Fuking miserable lives some of yall may have if you think you need to make 200k a year to drive a 20k car FFS. Learn to play the game instead of being a slave to it and only enjoying life once you become 45.
I think most people would save more than their car payment if they didnt eat our/buy alcohol. Yall are over here bitching about a $300 a month car payment when i bet a lot of yall are dropping $400-500 a month on eating out and drinking and gaming.
Fuking miserable lives some of yall may have if you think you need to make 200k a year to drive a 20k car FFS. Learn to play the game instead of being a slave to it and only enjoying life once you become 45.
I think most people would save more than their car payment if they didnt eat our/buy alcohol. Yall are over here bitching about a $300 a month car payment when i bet a lot of yall are dropping $400-500 a month on eating out and drinking and gaming.
05-24-2022, 07:35 AM
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#113
Originally Posted By Jestbrah⏩
You just have a poor concept of cars and money imo.yup, better to just keep reading Dave Ramsey about how its important to pay the banks back and focus on spending your whole youth doing that.
The older trucks can be just as reliable as the new ones, and depending on the model they're far more reliable. Pickups are functional vehicles, not to impress people you don't know. An older pickup does the same thing as a 90k pickup other than a backup camera and other crap that's not needed to go fishing.
And just because it's old doesn't mean it's not nice. I know a guy with a '97 Chevy that looks like it rolled off the showroom floor. People stop him all the time trying to buy it.
A $10k pickup and a $90k pickup are the exact same thing when it comes to hauling fishing gear. But your ego doesn't let you go fishing if it's not in the bank's vehicle apparently.
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05-24-2022, 07:44 AM
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#114
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Originally Posted By PShift5⏩
Most people are broke as f**k man. It’s all a game of appearances. Don’t play that game and it will save monetarily and psychologically. Also, in your monthly budget breakdown, I didn’t see a line item for deferred comp (401k). You just graduated so look into this ASAP and also what your employer offers in terms of a match.Yea the truck is for fishing season so I need it ASAP technically don’t need a brand new one but I need one for off-road and back bars and storage of fishing gear but yea I want to own a house soon so I am trying to save $1k- $1.5k per month
I see all these Brand new vehicles on the road and I’m like how much do these people make wtf? Median salary for household is like 55k and they are driving brand new F150 and I can’t even afford a tacoma how does that make sense lol
I see all these Brand new vehicles on the road and I’m like how much do these people make wtf? Median salary for household is like 55k and they are driving brand new F150 and I can’t even afford a tacoma how does that make sense lol
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05-24-2022, 09:46 AM
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#115
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Originally Posted By _zman⏩
I bought a 2012 F150 XLT with the 5.0 V8 and in amazing shape for about $12k 2 years a go (as opposed to like 4x that for a new one). Then spent about $3-4k adding better front and rear cameras than the new ones have, nice running boards, a nice Tonneau cover, new sound system with wireless CarPlay, etc.You just have a poor concept of cars and money imo.
The older trucks can be just as reliable as the new ones, and depending on the model they're far more reliable. Pickups are functional vehicles, not to impress people you don't know. An older pickup does the same thing as a 90k pickup other than a backup camera and other crap that's not needed to go fishing.
And just because it's old doesn't mean it's not nice. I know a guy with a '97 Chevy that looks like it rolled off the showroom floor. People stop him all the time trying to buy it.
A $10k pickup and a $90k pickup are the exact same thing when it comes to hauling fishing gear. But your ego doesn't let you go fishing if it's not in the bank's vehicle apparently.
The older trucks can be just as reliable as the new ones, and depending on the model they're far more reliable. Pickups are functional vehicles, not to impress people you don't know. An older pickup does the same thing as a 90k pickup other than a backup camera and other crap that's not needed to go fishing.
And just because it's old doesn't mean it's not nice. I know a guy with a '97 Chevy that looks like it rolled off the showroom floor. People stop him all the time trying to buy it.
A $10k pickup and a $90k pickup are the exact same thing when it comes to hauling fishing gear. But your ego doesn't let you go fishing if it's not in the bank's vehicle apparently.
Even if you buy used you can still add pretty much any feature you want aftermarket and for way cheaper.
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05-24-2022, 10:14 AM
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#116
- Comstarr
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Man ideally you want to save as much as possible. Get the absolute cheapest car payment vs car you can possibly get tbh. Maybe even look into leasing a Toyota or some chit in the meantime.
Are you currently living somewhere for free?
What state do you live in?
Are you a veteran?
Also tbh man renting a studio sounds great in hindsight but I can promise you a few months into your lease you're going to start thinking about how dumb it is to be shelling out $1200/m to your landlord when for a place when you could be investing that money into a mortgage payment.
If you're deadset on going down the road to getting your own place, I highly suggest moving in with roommates or crashing at your friends place(s). You can always pay $700-800 to split rent with someone and thenadditionallysave that extra $400-500 per month, on top of what you normally plan to save, on a downpayment for your own house.
Your goal here should be to save every penny you possibly can for 6-10 months until you have ~$12-15k for a solid downpayment on a property. Preferably 2 bedroom depending on the property and area, then at the very least you can offer to shack up one of your buddies and have them toss you money for the mortgage.
As for your car budget question, no joke aim for $150-200MAXfor a car payment. Your main focus should be saving for a house, as well as paying off your current debt. The sooner you do those 2 things the sooner you'll be financially free. Trust me.
If there's one piece of advise I could go back in time and give myself it's to not get an outrageous car payment just to flex.
You know what aREALflex is? When you own your own house and are able to offer people a rental agreement.
Are you currently living somewhere for free?
What state do you live in?
Are you a veteran?
Also tbh man renting a studio sounds great in hindsight but I can promise you a few months into your lease you're going to start thinking about how dumb it is to be shelling out $1200/m to your landlord when for a place when you could be investing that money into a mortgage payment.
If you're deadset on going down the road to getting your own place, I highly suggest moving in with roommates or crashing at your friends place(s). You can always pay $700-800 to split rent with someone and thenadditionallysave that extra $400-500 per month, on top of what you normally plan to save, on a downpayment for your own house.
Your goal here should be to save every penny you possibly can for 6-10 months until you have ~$12-15k for a solid downpayment on a property. Preferably 2 bedroom depending on the property and area, then at the very least you can offer to shack up one of your buddies and have them toss you money for the mortgage.
As for your car budget question, no joke aim for $150-200MAXfor a car payment. Your main focus should be saving for a house, as well as paying off your current debt. The sooner you do those 2 things the sooner you'll be financially free. Trust me.
If there's one piece of advise I could go back in time and give myself it's to not get an outrageous car payment just to flex.
You know what aREALflex is? When you own your own house and are able to offer people a rental agreement.
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05-24-2022, 10:29 AM
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#117
- OliverHeldens
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I could comfortably afford anything up to like $1500/mo, although I haven't had a car payment in like 5 years now and it would be pretty crappy going back to having one.
05-24-2022, 11:13 AM
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#118
05-24-2022, 11:56 AM
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#119
Originally Posted By Gronnie⏩
Agreed 100%, plenty of older vehicles are worth putting money into and tech into AND it's often better than the crap software most vehicles have off the showroom floor. I scope out ******** groups about common issues on cars and it's always the software being buggy.I bought a 2012 F150 XLT with the 5.0 V8 and in amazing shape for about $12k 2 years a go (as opposed to like 4x that for a new one). Then spent about $3-4k adding better front and rear cameras than the new ones have, nice running boards, a nice Tonneau cover, new sound system with wireless CarPlay, etc.
Even if you buy used you can still add pretty much any feature you want aftermarket and for way cheaper.
Even if you buy used you can still add pretty much any feature you want aftermarket and for way cheaper.
New cars are starting to hit a wall with power and features, so the only thing that's really changing is bigger screens and more tech every year.
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05-24-2022, 12:04 PM
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#120
- Beararms
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- Beararms
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Originally Posted By _zman⏩
I think OP has shifted from buying a brand new truck to a used one but people are now saying if he cant afford it cash he shouldn't be buying it. This "Dave Ramsey mindset" of buying complete beater vehicles will just have him buying a another car every 2-3 years. I don't agree with that at all. OP should be able to comfortably afford a 200-300 dollar payment for a truck while paying off his loans and putting enough away for savings.You just have a poor concept of cars and money imo.
The older trucks can be just as reliable as the new ones, and depending on the model they're far more reliable. Pickups are functional vehicles, not to impress people you don't know. An older pickup does the same thing as a 90k pickup other than a backup camera and other crap that's not needed to go fishing.
And just because it's old doesn't mean it's not nice. I know a guy with a '97 Chevy that looks like it rolled off the showroom floor. People stop him all the time trying to buy it.
A $10k pickup and a $90k pickup are the exact same thing when it comes to hauling fishing gear. But your ego doesn't let you go fishing if it's not in the bank's vehicle apparently.
The older trucks can be just as reliable as the new ones, and depending on the model they're far more reliable. Pickups are functional vehicles, not to impress people you don't know. An older pickup does the same thing as a 90k pickup other than a backup camera and other crap that's not needed to go fishing.
And just because it's old doesn't mean it's not nice. I know a guy with a '97 Chevy that looks like it rolled off the showroom floor. People stop him all the time trying to buy it.
A $10k pickup and a $90k pickup are the exact same thing when it comes to hauling fishing gear. But your ego doesn't let you go fishing if it's not in the bank's vehicle apparently.
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