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Forum ยป Just took out a 50k loan to buy a new car
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Thread: Just took out a 50k loan to buy a new car

post 1668417363 09-24-2022, 08:34 PM
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Just took out a 50k loan to buy a new car

Did i dun goofed?

Exact same car :

post 1668417493 09-24-2022, 08:40 PM
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  1. Kewbrah
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In purple?
post 1668417543 09-24-2022, 08:42 PM
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Originally Posted By Kewbrah⏩
In purple?
It looks biriful in person.
post 1668417563 09-24-2022, 08:43 PM
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Annual income?
Other debts?
Dallas Cowboys

Lifted for 30 years

Ass > tits
No Debt Crew
post 1668417633 09-24-2022, 08:45 PM
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Originally Posted By bicmane⏩
Nah i'd say you're fine as long as your salary is at least close to 200k
1/3rd of your yearly salary is a good rule of thumb, or less than 10% of your yearly income spent per year on the car is another good one.
When it comes your time to die, be not like those whose hearts are filled with the fear of death, so that when their time comes they weep and pray for a little more time to live their lives over again in a different way. Sing your death song and die like a hero going home.
post 1668417903 09-24-2022, 08:59 PM
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As long as you have the cash
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post 1668418023 09-24-2022, 09:05 PM
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Originally Posted By Godfrd824⏩
1/3rd of your yearly salary is a good rule of thumb, or less than 10% of your yearly income spent per year on the car is another good one.
Im good by these calculations. But I got a family to feed and mortgage. Mainly checking to see if timing is stupid given the economy and not so ideal rates. Used to get 0-2% on new car loans this is at 4%.
post 1668418093 09-24-2022, 09:09 PM
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Originally Posted By TurkBrah⏩
Im good by these calculations. But I got a family to feed and mortgage. Mainly checking to see if timing is stupid given the economy and not so ideal rates. Used to get 0-2% on new car loans this is at 4%.
You could die tomorrow. Enjoy life while you can.
When it comes your time to die, be not like those whose hearts are filled with the fear of death, so that when their time comes they weep and pray for a little more time to live their lives over again in a different way. Sing your death song and die like a hero going home.
post 1668418333 09-24-2022, 09:20 PM
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It is not a good financial decision to be paying interest on a depreciating asset.

I would prefer not to live beyond my means, you are basically pulling forward future consumption by borrowing...never made sense to me.

If you enjoy driving it then I guess it's a lifestyle asset and fair enough, not my cup of tea though.
***Trapped on prison island crew***
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