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find me a safe, reliable and at least relatively enjoyable vehicle for $15k (out the door price incl taxes).
now if you were to say $20k, OK, you can get a bare bones Subaru Impreza for that price.
in my mind, when you amortize the additional ~$10k over the life of the vehicle, those relatively small dollars are worth some extra comfort and utility.
i could be off base though.
I drive a 2008 Buick that runs fine, looks good, has some bells & whistles.
Paid $7,300 cash for it. No banks to deal with, no paperwork, no car payment.
find me a safe, reliable and at least relatively enjoyable vehicle for $15k (out the door price incl taxes).
now if you were to say $20k, OK, you can get a bare bones Subaru Impreza for that price.
in my mind, when you amortize the additional ~$10k over the life of the vehicle, those relatively small dollars are worth some extra comfort and utility.
i could be off base though.
Buy a used car, maybe 2-3 years old and you can knock a third off the price, easy.
basically, my take home pay had been taking a "hit" b/c i was also contributing to a Roth 401k.
i instead moved the full contribution to a Traditional 401k (16%) which will net me $18k/year (the max).
in turn, this reduced my taxable income considerably allowing my take-home pay to rise above what the potential car payment would be.
again, is it a brilliant financial decision? maybe not. but the fact is i will need a new vehicle sometime in the near future. i'm not comfortable buying used. and a 2-3 year old used vehicle in the make i'm looking at actually approaches new prices (esp. when factoring in 0% financing).
I find that astonishing! I got a used car loan for only 2% on a two year old Mazda 6 and that didn't come close to cancelling out the savings compared to a new model.
...if this is your last hurrah as a single person and your fiancee is onboard...okay....but be honest with yourself. I find that the more arguments I have to come up with and the more complicated they are the more I should reconsider.
Only if you do not drive it off the lot or (depending on the vehicle) keep it 25 years. That is the short version.
If he financed 25k of a 30k car purchase for 4 years @ 0% he would owe 18k and change a year in. I think it's feasible to stay right at or ahead of the curve
If he financed 25k of a 30k car purchase for 4 years @ 0% he would owe 18k and change a year in. I think it's feasible to stay right at or ahead of the curve
this
and try to find a 2016 Subaru Forester XT for $18K (that still runs)
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