I bought my 92 Mercedes for $83K in 1992
You wanna talk car payments to me???
Loan Amount $83,000
Interest Rate % 9.55%
Years 4
Monthly Payment $2,087.20
Plus ultra performance car insurance costs ...
Between the two it was close to my wife's take home pay at the time.
I still have the car, not the wife
Quote:
Originally Posted by Dayze
If I did get one, it sure as hell wouldn’t be one of the $75k trucks that GMC seems so proud off.
I try to keep my cars for as long as I can, then when it’s time for another, I try to keep the purchase price about 8-10% of my annual income. And if financing, only term to 36 months.
Doing so allows us to contribute a shit load each month to savings. We put an entire check from my wife’s pay into savings each month, directs deposit. Don’t even miss it
I can’t even imagine having a $500+ per month payment for likely 5+ years. Jesus Christ. I used to do that shit when I was young and has some decent money. Now, I still make decent , money but that car pay,ent is going into my account instead of a car. And I now have a good stash of money for my “oh shit” fund to draw from when shit goes wrong with the house, cars, or whatever else.
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