How Much Car Can I Afford Reddit

Money will come but you can be only young and excited about a new car once. I m a car enthusiast and spend a lot of time researching and doing stuff with cars. How much money should you spend on a car based on your salary.

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That can buy you a lot of car if you go with a slightly used car.

How much car can i afford reddit. Son you can only be young once. You dont need to get a 100k car you can t afford there is plenty of fun to be had with the money you can realistically spend. It can help you get solid starting numbers to help your car. I love financial back of the napkin tricks.

As far as the car i currently have a car i can trade in worth around 10k that s paid off. I honestly believe that you can afford a car in about the 40k range. And make sure to get gap insurance if you don t put much down but get it through your car insurance not the dealership it s usually cheaper that way. Find how much car you can afford with 20 4 10.

They can help you roughly answer hairy finance questions quickly so you don t slave over calculations and waste time. Share on whatsapp. A 2015 2016 bmw m4 can be had for 40k an alfa romeo a used porsche a tesla. You needn t worry about securing a loan just yet just get a rough idea of how costly a car you can afford and what your monthly payments will be.

And we haven t included your food and room if that s necessary. Even if the 2 different cars are worth the same price. And then you can better gauge whether or not you can afford it. The fact that you are in this forum means you are a responsible young man.

The rule of thumb among many car buying experts dictates that your car payment should total no more than 15 of your monthly net income sometimes called your take home pay some might stretch this to 20 but 15 is more conservative and therefore likely to make budgeting even easier. The 20 4 10 is a good example of one. I am still excited but not nearly as close as i was for my first new vehicle. I would like something nice that i will take pride in and have fun with but also don t want to set other financial goals too far behind by doing this.

Now i can afford a much better car and i did buy a much better car recently. Idk how long these trips are or what kind of car you want but if we assume 200 in gas per round trip you re up to 1600. It s amazing how much of a difference insurance can cost on a 2 door sports car versus a 4 door sedan. Earn more money for your dream car.

Don t look at this as a car expense look at this as a trip expense.