Quote:
Originally Posted by Clark_Kent
The $4k delta is the difference of $64 per month on a 72 month loan at 5.04%.
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72 months is way to long of a long imo. I would follow the 20/4/10 rule.
More generally I think you should make close to 3x (gross) the value of whatever car you buy (assuming $0 debt). So for $50K I'd want to make nearly $150K. My job is in finance so I'm naturally a bit more conservative on car purchases than many enthusiasts on here though. I couldn't imagine not maxing my 401K so I could have a faster car, etc.
I also might just buy in cash, these interest rates are (still) terrible. We will see what the market is like in 1-2 years.