Log In

Your email is not your username

Register

If you were a member of the old Bodybuilding.com forums and would like to reuse your previous username, you can request it below. We use your email only for registration and do not store it. For more information, please see our Privacy Policy.

Confirm your email

A registration code was sent to your email. Enter it here.

Welcome

You have successfully setup your account.

Sign in

Quick Navigation Bottom Misc
Forum ยป Just took out a 50k loan to buy a new car
  1. Results 1 to 9 of 9
  2. Page 1 of 1

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

post 1668417363 09-24-2022, 08:34 PM
-
#1
  1. TurkBrah
  2. Zero Supplementation
  1. TurkBrah
  2. Zero Supplementation
  3. Join Date: Jun 2008
  4. Location: District Of Columbia, United States
  5. Posts: 15,270
  6. Rep Power: 50089

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
-
#2
  1. Kewbrah
  2. Deathcon 3
  1. Kewbrah
  2. Deathcon 3
  3. Join Date: Jul 2012
  4. Location: Australia
  5. Posts: 23,606
  6. Rep Power: 213822
In purple?
post 1668417543 09-24-2022, 08:42 PM
-
#3
  1. TurkBrah
  2. Zero Supplementation
  1. TurkBrah
  2. Zero Supplementation
  3. Join Date: Jun 2008
  4. Location: District Of Columbia, United States
  5. Posts: 15,270
  6. Rep Power: 50089
Originally Posted By Kewbrah⏩
In purple?
It looks biriful in person.
post 1668417563 09-24-2022, 08:43 PM
-
#4
  1. 5x10
  2. Banned
  1. 5x10
  2. Banned
  3. Join Date: Apr 2007
  4. Age: 47
  5. Posts: 49,580
  6. Rep Power: 0
Annual income?
Other debts?
Dallas Cowboys

Lifted for 30 years

Ass > tits
No Debt Crew
post 1668417633 09-24-2022, 08:45 PM
-
#5
  1. Godfrd824
  1. Godfrd824
  3. Join Date: Oct 2008
  4. Location: DevilMayRage's Head, Rent Free
  5. Posts: 57,249
  6. Subscribers: 2
  7. Rep Power: 383238
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
-
#6
  1. iloveus
  2. snailsrus
  1. iloveus
  2. snailsrus
  3. Join Date: Sep 2014
  4. Posts: 33,694
  5. Rep Power: 105430
As long as you have the cash
Financial Freedom/Passive Income Crew
Entrepreneur Crew
MMA Crew
Cinematographer Crew
Photographer Crew
Ski/Snowboard Crew
Guns Crew
post 1668418023 09-24-2022, 09:05 PM
-
#7
  1. TurkBrah
  2. Zero Supplementation
  1. TurkBrah
  2. Zero Supplementation
  3. Join Date: Jun 2008
  4. Location: District Of Columbia, United States
  5. Posts: 15,270
  6. Rep Power: 50089
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
-
#8
  1. Godfrd824
  1. Godfrd824
  3. Join Date: Oct 2008
  4. Location: DevilMayRage's Head, Rent Free
  5. Posts: 57,249
  6. Subscribers: 2
  7. Rep Power: 383238
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
-
#9
  1. keels141
  2. Registered User
  1. keels141
  2. Registered User
  3. Join Date: Mar 2008
  4. Location: Australia
  5. Age: 41
  6. Posts: 6,469
  7. Rep Power: 35966
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***
Quick Navigation Top Misc
Bookmarks
Digg.com
Digg
del.icio.us
del.icio.us
Stumbleupon.com
StumbleUpon
Google.com
Google
Facebook.com
Facebook
Posting Permissions
  1. You may not post new threads
  2. You may not post replies
  3. You may not post attachments
  4. You may not edit your posts