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How much can you comfortably afford per month for car payment
05-22-2022, 09:38 AM
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#1
- PShift5
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How much can you comfortably afford per month for car payment
70k salary
Student loans total $29k, $250/month during Covid emergency interest $290/month when my regular interest rate comes back.
After taxes I should be making $1018 per week and I am looking for a cheap studio for around $1200
I am looking to pull the trigger on a brand new Tacoma is that stupid? What can I comfortably afford per month in car payments? I am thinking $400 per month is the higher end of what I can comfortably afford if I want to also save for a house within the next two years.
Should I try to negotiate the longest term 60 months to get the payment as low as possible per month? I don’t care about long term interest accumulation and paying more over time.
Update:
My dad checked out the 1998 tundra the guy wanted $6000 and my dad walked out.
He found a 2011 Tacoma with 115k miles on it the guy is willing to finance it to me for $268 a month for 72 months and the total cost is $16k, I don’t think there is a better deal out there and I have been looking a lot.
Is this reasonable?
Student loans total $29k, $250/month during Covid emergency interest $290/month when my regular interest rate comes back.
After taxes I should be making $1018 per week and I am looking for a cheap studio for around $1200
I am looking to pull the trigger on a brand new Tacoma is that stupid? What can I comfortably afford per month in car payments? I am thinking $400 per month is the higher end of what I can comfortably afford if I want to also save for a house within the next two years.
Should I try to negotiate the longest term 60 months to get the payment as low as possible per month? I don’t care about long term interest accumulation and paying more over time.
Update:
My dad checked out the 1998 tundra the guy wanted $6000 and my dad walked out.
He found a 2011 Tacoma with 115k miles on it the guy is willing to finance it to me for $268 a month for 72 months and the total cost is $16k, I don’t think there is a better deal out there and I have been looking a lot.
Is this reasonable?
05-22-2022, 09:40 AM
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#2
- OffwhiteBrah
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You should be looking at a used 2010 Camry with that budget op
05-22-2022, 09:43 AM
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#3
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Originally Posted By OffwhiteBrah⏩
Lmfao I don’t want a car but are you srs or semi srs? I know 70k isn’t **** these days but Right now expenses that I can think of areYou should be looking at a used 2010 Camry with that budget op
$1200 studio
$290 student loan
$300 groceries
$200 utilities
That’s around $2000 then I have $2000 left for the month let’s say I’m missing $500 somewhere in there another $1500 left and I need to save at least $1000 per month for a house down payment
Plus I should be getting a yearly bonus of 8%
05-22-2022, 09:47 AM
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#4
Bruh, you are coming off as srs so I am going to put this as nicely as I can, srs vry srs. You are broke AF and have no business considering a brand new truck. It's hustle and grind time. Get the student loans paid off asap and focus on growing professionally to get your salary out of the gutter. After that, fuk car notes. Good luck.
05-22-2022, 09:47 AM
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#5
05-22-2022, 09:54 AM
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#6
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Originally Posted By tripod29⏩
Yea I am srs but I am also brand new to adult life I just graduated last week lol. Ok thank you for that I will definitely try to calm my impulses right now. I do need a truck because missing fishing season is non negotiable to me and I need something ASAP so in terms of monthly payments for a used vehicle would $250-$300 be okay for that salary?Bruh, you are coming off as srs so I am going to put this as nicely as I can, srs vry srs. You are broke AF and have no business considering a brand new truck. It's hustle and grind time. Get the student loans paid off asap and focus on growing professionally to get your salary out of the gutter. After that, fuk car notes. Good luck.
05-22-2022, 09:56 AM
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#7
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Originally Posted By davik⏩
Fishing season is right around the corner it is non negotiable to me to miss it I can’t save up and miss the season I would literally go insane very srs I guess I don’t need a brand new one but I need something. I am thinking more in terms of monthly payments I am trying to figure out what I can comfortably afford monthlyim just saying, couldnt you just save up for the car and pay the loan off in 1 yr?
05-22-2022, 09:59 AM
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#8
05-22-2022, 10:02 AM
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#9
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Originally Posted By Destor⏩
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 monthSeems kinda silly to buy a truck when renting a studio apartment but I guess that’s planning for the house to come
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
05-22-2022, 10:13 AM
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#10
- 13nick31
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Seriously check out Dave Ramsey.
Do not buy a new vehicle, you can't afford it. Just because you can make the payments doesn't mean you can afford it.
You'd be stealing from your future for a tiny amount of pleasure right now. I've been there and done that; same with a lot of us here.
Put yourself on a budget, prioritize your debt then save up for a new to you car if needed.
Refrain from the entitled mindset that so many young people get sucked into because they "work hard" and "deserve nice things".
Do not buy a new vehicle, you can't afford it. Just because you can make the payments doesn't mean you can afford it.
You'd be stealing from your future for a tiny amount of pleasure right now. I've been there and done that; same with a lot of us here.
Put yourself on a budget, prioritize your debt then save up for a new to you car if needed.
Refrain from the entitled mindset that so many young people get sucked into because they "work hard" and "deserve nice things".
*Left Handed Crew*
"People once believed, that when someone dies, a crow carries their soul to the land of the dead. But sometimes, something so bad happens, that a terrible sadness is carried with it and the soul can't rest. Then sometimes, just sometimes the crow could bring that soul back to put the wrong things right."
05-22-2022, 10:17 AM
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#11
- DeadlyStriker
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Sorry OP but that's not going to happen in your mind like you think. I came out of college with a similar mindset, 25k in loans (actually paid about 31k because of interest). You should be spending your time paying off your student loans as quickly as possible, and not having a $400 car payment right now. Do you have cash to buy used? There's no way you can pay student loans and a car payment + rent, while saving for a house. Your saving won't do anything at that point. Inflation will leave you in the dust and expenses wreck your cash flow. So you'd either need to get your salary up quick, which is pretty difficult, or eat **** for a year and get rid of that student loan debt. You'd be surprised how much unexpected stuff you have to pay for over a year you didn't really calculate in.
05-22-2022, 10:22 AM
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#12
- Goat_187
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Originally Posted By PShift5⏩
$1018 a week? $400 car?70k salary
Student loans total $29k, $250/month during Covid emergency interest $290/month when my regular interest rate comes back.
After taxes I should be making $1018 per week and I am looking for a cheap studio for around $1200
I am looking to pull the trigger on a brand new Tacoma is that stupid? What can I comfortably afford per month in car payments? I am thinking $400 per month is the higher end of what I can comfortably afford if I want to also save for a house within the next two years.
Should I try to negotiate the longest term 60 months to get the payment as low as possible per month? I don’t care about long term interest accumulation and paying more over time.
Student loans total $29k, $250/month during Covid emergency interest $290/month when my regular interest rate comes back.
After taxes I should be making $1018 per week and I am looking for a cheap studio for around $1200
I am looking to pull the trigger on a brand new Tacoma is that stupid? What can I comfortably afford per month in car payments? I am thinking $400 per month is the higher end of what I can comfortably afford if I want to also save for a house within the next two years.
Should I try to negotiate the longest term 60 months to get the payment as low as possible per month? I don’t care about long term interest accumulation and paying more over time.
Sir you're missing 100's expenses in your budget.
Sir, get a beater. Stay at home ...as long as possible.Pile stacks.
Not possible? Get a roommate to halve the expenses or find someone renting a room.
How old are you OP?
05-22-2022, 10:32 AM
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#13
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Originally Posted By 13nick31⏩
Very good adviceSeriously check out Dave Ramsey.
Do not buy a new vehicle, you can't afford it. Just because you can make the payments doesn't mean you can afford it.
You'd be stealing from your future for a tiny amount of pleasure right now. I've been there and done that; same with a lot of us here.
Put yourself on a budget, prioritize your debt then save up for a new to you car if needed.
Refrain from the entitled mindset that so many young people get sucked into because they "work hard" and "deserve nice things".
Do not buy a new vehicle, you can't afford it. Just because you can make the payments doesn't mean you can afford it.
You'd be stealing from your future for a tiny amount of pleasure right now. I've been there and done that; same with a lot of us here.
Put yourself on a budget, prioritize your debt then save up for a new to you car if needed.
Refrain from the entitled mindset that so many young people get sucked into because they "work hard" and "deserve nice things".
05-22-2022, 10:34 AM
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#14
- Goat_187
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Bro, If I could go back in time I would be aware myself in my early 20s going from broke student to making $75k just pissing money away for years living above my means thinking I'm rich...............
I WOULD AWARE myself on Dave Ramsey. (srs)
Please go balls deep into what he preaches.
Start here:
Call / email and submit your questions into the show, I guarantee you will get the feature and he'll rip you a new one with those numbers.
“If you will live like no one else, later you can live like no one else.”
“We buy things we don't need with money we don't have to impress people we don't like.”
I WOULD AWARE myself on Dave Ramsey. (srs)
Please go balls deep into what he preaches.
Start here:
Call / email and submit your questions into the show, I guarantee you will get the feature and he'll rip you a new one with those numbers.
“If you will live like no one else, later you can live like no one else.”
“We buy things we don't need with money we don't have to impress people we don't like.”
05-22-2022, 10:35 AM
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#15
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Originally Posted By Goat_187⏩
I am 26 just finished my bachelors degree long story ****ed up my life and turned it around now I am at a late start$1018 a week? $400 car?
Sir you're missing 100's expenses in your budget.
Sir, get a beater. Stay at home ...as long as possible.Pile stacks.
Not possible? Get a roommate to halve the expenses or find someone renting a room.
How old are you OP?
Sir you're missing 100's expenses in your budget.
Sir, get a beater. Stay at home ...as long as possible.Pile stacks.
Not possible? Get a roommate to halve the expenses or find someone renting a room.
How old are you OP?
Deadly striker good advice too **** maybe I should run a beater into the ground then
05-22-2022, 10:36 AM
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#16
- DeadlyStriker
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Originally Posted By 13nick31⏩
Seriously check out Dave Ramsey.
Do not buy a new vehicle, you can't afford it. Just because you can make the payments doesn't mean you can afford it.
You'd be stealing from your future for a tiny amount of pleasure right now. I've been there and done that; same with a lot of us here.
Put yourself on a budget, prioritize your debt then save up for a new to you car if needed.
Refrain from the entitled mindset that so many young people get sucked into because they "work hard" and "deserve nice things".
Do not buy a new vehicle, you can't afford it. Just because you can make the payments doesn't mean you can afford it.
You'd be stealing from your future for a tiny amount of pleasure right now. I've been there and done that; same with a lot of us here.
Put yourself on a budget, prioritize your debt then save up for a new to you car if needed.
Refrain from the entitled mindset that so many young people get sucked into because they "work hard" and "deserve nice things".
Originally Posted By SkiGains⏩
don't entrap yourself in a car loan srs pay down debts and buy property before thinking about a car. Buy a cheap one in the meantime in cash. You'll thank yourself in 5 years
Originally Posted By Goat_187⏩
Listen to 30+ year old miscers here OP. We've all made similar mistakes and learned from them. This will save you future headache.$1018 a week? $400 car?
Sir you're missing 100's expenses in your budget.
Sir, get a beater. Stay at home ...as long as possible.Pile stacks.
Not possible? Get a roommate to halve the expenses or find someone renting a room.
How old are you OP?
Sir you're missing 100's expenses in your budget.
Sir, get a beater. Stay at home ...as long as possible.Pile stacks.
Not possible? Get a roommate to halve the expenses or find someone renting a room.
How old are you OP?
You want no debt besides an eventual mortgage. Have as low of expenses as possible. Then save as much as possible. Don't overleverage your lifestyle.
It will shortly all come together and you will see living lowly for a year or two just made things that much easier moving forward. Otherwise you'll end up like me moving back home and spent a year living like a hermit at 28 to pay off 20k in loans in a year to get out of debt. Do that sooner.
05-22-2022, 10:36 AM
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#17
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Originally Posted By 13nick31⏩
This boyo knows how to stack bread.Seriously check out Dave Ramsey.
Do not buy a new vehicle, you can't afford it. Just because you can make the payments doesn't mean you can afford it.
You'd be stealing from your future for a tiny amount of pleasure right now. I've been there and done that; same with a lot of us here.
Put yourself on a budget, prioritize your debt then save up for a new to you car if needed.
Refrain from the entitled mindset that so many young people get sucked into because they "work hard" and "deserve nice things".
Do not buy a new vehicle, you can't afford it. Just because you can make the payments doesn't mean you can afford it.
You'd be stealing from your future for a tiny amount of pleasure right now. I've been there and done that; same with a lot of us here.
Put yourself on a budget, prioritize your debt then save up for a new to you car if needed.
Refrain from the entitled mindset that so many young people get sucked into because they "work hard" and "deserve nice things".
05-22-2022, 10:36 AM
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#18
- Freeze2000
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Cell phone?
$300 month groceries??
What about clothing? Supplements? Internet? Personal hygiene products? Hobbies -- Fishing Gear?
Cable Bill?
Emergency Fund?
So much more expenses you aren't taking into account.
$300 month groceries??
What about clothing? Supplements? Internet? Personal hygiene products? Hobbies -- Fishing Gear?
Cable Bill?
Emergency Fund?
So much more expenses you aren't taking into account.
05-22-2022, 10:37 AM
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#19
it took that long
05-22-2022, 10:39 AM
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#20
- imbored205
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- imbored205
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Just do what I did.
Live with parents for a while and dump all your money in crypto and cash out after it reaches over 1 milly
Live with parents for a while and dump all your money in crypto and cash out after it reaches over 1 milly
What comes around comes around
I want to believe
05-22-2022, 10:41 AM
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#21
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Originally Posted By Goat_187⏩
Thank you brah I will definitely look at those videosBro, If I could go back in time I would be aware myself in my early 20s going from broke student to making $75k just pissing money away for years living above my means thinking I'm rich...............
I WOULD AWARE myself on Dave Ramsey. (srs)
Please go balls deep into what he preaches.
Start here:
Call / email and submit your questions into the show, I guarantee you will get the feature and he'll rip you a new one with those numbers.
“If you will live like no one else, later you can live like no one else.”
“We buy things we don't need with money we don't have to impress people we don't like.”
I WOULD AWARE myself on Dave Ramsey. (srs)
Please go balls deep into what he preaches.
Start here:
Call / email and submit your questions into the show, I guarantee you will get the feature and he'll rip you a new one with those numbers.
“If you will live like no one else, later you can live like no one else.”
“We buy things we don't need with money we don't have to impress people we don't like.”
05-22-2022, 10:43 AM
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#22
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Sometimes banks will deny you a mortgage if you have a car payment at all
05-22-2022, 10:43 AM
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#23
- donblaximus
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Originally Posted By PShift5⏩
Uhhhh investment and qualified accounts? Sorry bro, thats a no on the truck with only $2k left over.Lmfao I don’t want a car but are you srs or semi srs? I know 70k isn’t **** these days but Right now expenses that I can think of are
$1200 studio
$290 student loan
$300 groceries
$200 utilities
That’s around $2000 then I have $2000 left for the month let’s say I’m missing $500 somewhere in there another $1500 left and I need to save at least $1000 per month for a house down payment
Plus I should be getting a yearly bonus of 8%
$1200 studio
$290 student loan
$300 groceries
$200 utilities
That’s around $2000 then I have $2000 left for the month let’s say I’m missing $500 somewhere in there another $1500 left and I need to save at least $1000 per month for a house down payment
Plus I should be getting a yearly bonus of 8%
05-22-2022, 10:43 AM
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#24
- EDcellent
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No offense, but I'm going to join the pig pile and say no to a brand new car loan. Even if you had a full 20% down on a house, I'd still say no. You're (assuming) still young, you need time to learn from mistakes that happen in life, and get experience from those. Don't let a car payment hold you back from being more successful.
I make about the same, a DP on a house ready to be used and I still drive 2 old pickups that are probably worth 10k together lol.
I make about the same, a DP on a house ready to be used and I still drive 2 old pickups that are probably worth 10k together lol.
05-22-2022, 10:44 AM
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#25
- Goat_187
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Originally Posted By PShift5⏩
Any urgent or legit reason why you have to move out? Just to feel adulty? Family issue? Girls?I am 26 just finished my bachelors degree long story ****ed up my life and turned it around now I am at a late start
Deadly striker good advice too **** maybe I should run a beater into the ground then
Deadly striker good advice too **** maybe I should run a beater into the ground then
It is not shunned upon now days to live with your parents until you're ready to, trust the move back walk of shame is way worst. They provided your whole life, help em with some bills and stack
05-22-2022, 10:59 AM
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#26
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Originally Posted By Goat_187⏩
My mom wants me out because she was sleeping in the living room for 5 years while I was in school, I can live with my dad for a bit but he is extremely religious and would not allow my gf to sleep over so there would be issues there. Pretty much my gf and mom both made sacrifices for me and it would be easier on them if I lived on my own at this point. I also think that it’s time for me to face adulthood as well since I am mid twenties and had it easy for way too long.Any urgent or legit reason why you have to move out? Just to feel adulty? Family issue? Girls?
It is not shunned upon now days to live with your parents until you're ready to, trust the move back walk of shame is way worst. They provided your whole life, help em with some bills and stack
It is not shunned upon now days to live with your parents until you're ready to, trust the move back walk of shame is way worst. They provided your whole life, help em with some bills and stack
05-22-2022, 11:01 AM
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#27
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Originally Posted By EDcellent⏩
What make and model are those ? I’m really leaning towards a beater right now but even 2004 Tacoma’s can be $12k at this time and I don’t trust most of the older trucks like Chevy and FordNo offense, but I'm going to join the pig pile and say no to a brand new car loan. Even if you had a full 20% down on a house, I'd still say no. You're (assuming) still young, you need time to learn from mistakes that happen in life, and get experience from those. Don't let a car payment hold you back from being more successful.
I make about the same, a DP on a house ready to be used and I still drive 2 old pickups that are probably worth 10k together lol.
I make about the same, a DP on a house ready to be used and I still drive 2 old pickups that are probably worth 10k together lol.
05-22-2022, 11:13 AM
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#28
- Joseph1990
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Originally Posted By PShift5⏩
Thy the fk do you want a new pickup? I bet you're single and want a crew cab too. lmfao. Get a cheap commuter and be done with it.Lmfao I don’t want a car but are you srs or semi srs? I know 70k isn’t **** these days but Right now expenses that I can think of are
$1200 studio
$290 student loan
$300 groceries
$200 utilities
That’s around $2000 then I have $2000 left for the month let’s say I’m missing $500 somewhere in there another $1500 left and I need to save at least $1000 per month for a house down payment
Plus I should be getting a yearly bonus of 8%
$1200 studio
$290 student loan
$300 groceries
$200 utilities
That’s around $2000 then I have $2000 left for the month let’s say I’m missing $500 somewhere in there another $1500 left and I need to save at least $1000 per month for a house down payment
Plus I should be getting a yearly bonus of 8%
Control group crew membership revoked 7/5/2022 1:50pm PST not proud.
Inb4 honorable FDA/CDC/NIH/WHO representatives
J.L.C,
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05-22-2022, 11:17 AM
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#29
- redraider86
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And you just graduated? Listen to the wise miscers (is such a thing even possible?) here. Check out some of Dave Ramsey's videos. You can't afford that kind of car right now and that's fine. Good luck, congrats on graduating!
Train hard, train smart, have fun!
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05-22-2022, 11:28 AM
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#30
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good luck with your rentcel + student loancel + paycheck to paycheckcel goals of 2022 and beyond
watchout your comments boyo ↓
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