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Personally, at my "high" I had a $2200 mtg and 3 car payments that totalled $2800 a month......2 of the cars had a total of $35,000 down just to keep the payments out of the stratosphere!
2002 BMW M3, 2003 Mercedes E500, 2003 GMC pickup.....kept the truck the longest. Sold the M3 and walked out of the dealer with a $24,000 check and Mercedes bought the E500 back with a total cost to me of $4,000 to drive it 2 years/18K miles.
Payments are simply math, the rates of interest vary based on credit scores.......there is no mystery in them!
So $920.00 every 30 days, plus insurance and tabs and gas and oil.
You my friend are living the American Dream. I'm humbled.
I would imagine neither car is going to Walmart or McDonalds for employment with a name tag or headphones either!
What if those cars that cost $920 a month were driving their owners to jobs that earned $120,000 each......I would say those two cars are just tools getting their owners to work every day!
But now days the 5-6 year loans average out to same interest cost as the old 3 year loans which is why few pay cash often. The loans are cheap if not zero interest. When I started buying cars the interest was 7 per cent with good credit which makes paying down more a lot of savings.
I would imagine neither car is going to Walmart or McDonalds for employment with a name tag or headphones either!
What if those cars that cost $920 a month were driving their owners to jobs that earned $120,000 each......I would say those two cars are just tools getting their owners to work every day!
Park my Corvette out back at the 7-11 when I'm working.
$250 a month for a used Ford, which I bought with 40k miles on it. It has been completely reliable and comfortable transportation for 4 years. Why would I ever need to spend more?
I knew a kid who was a car nut. Had an STI then traded for a corvette on a low salary. His sacrifice was he lived at home with his parents.
I could never afford the car payments and cell phone bills. When I made money, I paid $30k per year for daycare for 2 kids in addition to my mortgage and then there was summer camp at $4k.
I would imagine neither car is going to Walmart or McDonalds for employment with a name tag or headphones either!
What if those cars that cost $920 a month were driving their owners to jobs that earned $120,000 each......I would say those two cars are just tools getting their owners to work every day!
Does it even have to be self-driving? Isn't being able to go 20-30 times faster than walking good enough?
$30/m in electricity to run the Volt, $100/m in gas to run the Corvette, $100/m on insurance. No where did it ask how it compares to income but we do ok for ourselves, ~$1150/m to both enjoy what we are driving, I have friends that are paying that to the bank alone on one vehicle.
The Corvette is more then a means of transportation for me (well us really) it's a spring-fall hobby and a lot of weekend activities are related to the car.
Damn! I cant believe some of these payments. I bought this Ford Focus SE Hatchback new last year. Well equipped and it drives great, and 40+ mpg. I pay $256 a mon.
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