I know dozens of people who, after purchasing a super fancy car, start paying $25 for valet because they want to be seen coming in and out of their expensive cars.Deep down, you know that if you're not able to pay cash for your car, then you really can't afford it at all.
Knowing that I wasn't making any money off the car was truly an unpleasant feeling. After all, it's a well-known fact that newIf you already spent more than 10% of your gross income on a car, don't panic. Nobody is perfect, and the important thing is that you recognize your mistake and fix it right away.
MakeIt and remember...a tesla, isn't a 'car', it's a glorified golfcart
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MakeIt However you can't control this with dealers they manipulated customers's income data to acquire loans approval that's where the problems lied akin subprime loan!
MakeIt OR you can spend a little more and keep it longer and have less maintenance costs.
MakeIt 👍
MakeIt lease was up on Equinox. Instead of another 36 month lease, I purchased a 2005 Jeep Liberty. No 36 months of payments. Cheaper insurance. Only two drawbacks is there are no flashy gadgets and gas mileage is not as good. Saving about 4k yr.
MakeIt This would literally tank the automotive market in a month. I make six figures...should not buy a vehicle worth more than 12k apparently.
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VernaPolitics MakeIt A 1-2 year old car purchased for $15,000 with a 4-5 year loan and used for 7 years (and properly maintained), will likely be more reliable, require fewer repairs, and ultimately be more financially beneficial than buying a series of questionable $4,000 vehicles.
MakeIt Cringeworthy. Arguing that the median American is financially better off buying a $4000 car than a $40000 car because “maintenance” is disingenuous at best. I haven’t seen too many well functioning cars at that price, especially if the author is living in SF
MakeIt Yeah, $100k job and you’re allowed to buy a $10k car. Lots of options. The economy would also implode as most ppl could never buy a new car.
MakeIt SO..I need to buy a $3,100.00 car ! HAHAHA Let me see what is available in that price range. LOL
MakeIt What about cars as investments like your condo example? Apples to oranges.
MakeIt I’m glad I bought a used Lexus for 11,000.
MakeIt Did they leave out PER YEAR on the 10% of annual gross income in there somewhere? In other words, if you make $100k per year you should not spend more than $10,000 PER YEAR on car payments/$833 per month.
MakeIt I'll save you a click: 'Spend no more than 10% of your gross annual income on the purchase price of a car.' Yes, he is saying someone pulling down $250k a year should not be driving more than an entry level Toyota Camry. Make of that what you will.
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MakeIt This article was bs
MakeIt you buy a car to make you fell happy and safe, not to save money, if you want to save money don't buy anything. Live like a jew and invest all your money in diamonds lol
MakeIt Oh, we launch OneCarPayment in 2020, our bot will show you the problem, before it becomes a problem.
PetekDemirciog1 MakeIt Lol
MakeIt But there is supposed to be less maintenance cost on that car right?... eg no oil change every 9 months?
MakeIt And like clockwork, you guys find a way to include Tesla and elonmusk in this article. How in the hell has the SEC not looked into your blatant work for $tsla shorts?!? You guys are beyond playing in the grey area on this with Elon and Tesla