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/biz/ - Business & Finance

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2002843 No.2002843 [Reply] [Original]

I'm considering buying a car. Am I complete tard if I spend 35% income on car loan payments?

>> No.2002845

yes

>> No.2002856

>>2002845
What would you say is an acceptable effort rate?

>> No.2002878

>>2002843
Yes. Instead spend it with ETH.

>> No.2002899

Don't buy a car unless you can pay in cash. Also second hand cars work just fine as well.
Even if you get enough money to buy in cash, still think of what you're doing.

>> No.2002903

>>2002843
>things poor people do

>> No.2002945
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2002945

Dont loan money when you have other options.
You already lose money (value) through inflation, why would you want to increase that.

Also, cheaper car is cheaper maintenance.

I would focus on getting rich before even thinking about driving an expensive car.

>> No.2002980
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2002980

when you buy a car but also want to save some money make sure what you need in terms of space and how long the distance are that you have to drive regularly.
If you arent rich NEVER buy a new car. Its just wasting money.

You should look for an early 2000 model to have a good mix of comfort and cheap traveling.

I have a small 1999 shitbox that works fine and when Im going on vacation I just rent a comfortable bigger car.

pic related is my car.

>> No.2002987

Yes you are a tard

It should be less than 10% of your income

>> No.2002998

>>2002843
>Am I complete tard if I spend 35% income on car loan payments?

Yes, you are a 100% absolutely complete retard if you do that.

>> No.2003004

>>2002843
my first car cost me $500 CDN and i expected it to last me a couple years at best

that was a decade ago and the person i eventually sold it to still drives it with minimal maintenance, and my newer car i'm driving now is constantly shitting the bed and falling apart despite costing me literally 10x as much. at this point I've spent more on repairing it than I did buying it in the first place.

Old car: 950 total over the course of 2 years, including purchase price
new car: almost 12,000 including purchase price over the course of about 3.5 years, I stopped keeping track after that

>> No.2003041

>>2002843

I make 50k and bought a new care for like $24000 a few years ago. I like it and almost pay it off. If I had it to do all over again I'm not sure I'd do it differently. It's a pretty nice care and girls like riding around in it. Plus I work pretty hard so it's cool to have something nicer to drive home after a long day.

I take good care of it too and spend $30/month for an unlimited carwash pass at my local place. Yeah, it's a monthly cost but I thought buying a new car was totally worth it. I don't recommend it for everyone though. If you can't put at least 5k down on it initially and pay it off in three years or less I wouldn't do it.

>> No.2003046

>>2002856
0%

>> No.2003052

>>2002843
>Am I complete tard if I spend 35% income on car loan payments?
No, but only if you live in it.

>> No.2003059

I may be a wagecuck but i'm so glad I get a 30K new car every 4 years. No maintenance, just tax.

>> No.2003221

As long as you are getting an e39m5 or an s2000, i don't see the problem.

>> No.2003445

>>2003041
Charger?

>> No.2003914

>>2002843
>car loan payments
yeah, retarded.
Buy outright something you can afford or dont buy at all