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You agonize for days or weeks over a $40 or $50 purchase? Have you considered seeking help for that?
Maybe agonize is a strong word but if I am buying anything at that amount or more I nearly always purposefully hold off on buying it at least 1 day to give myself time to think about. So maybe agonize isn't the right term but I do go back and forth over the pros and cons for a day or two. I guess a more appropriate term would be a "cooling off" period or something similar. Get up over a hundred and I usually think about it for a week or more. If its something I need then I don't have an issue with immediately buying it.
I don't go through that when I am tossing down $50, $60 or even $100 on a meal at a restaurant.
Now that I am thinking about this, I realize that when my wife wants a $500 handbag, I am like sure go ahead and don't even think about it. I honestly cannot speak to why there is a difference for me. Now if she starts talking about stopping by Louis Vuitton or Fendi then I start getting apprehensive and we start talking about budget and does she really need this (unlikely, lol).
No I don't think I have a problem. I think its just a function of being broke early on when I first started out and not wanting to be there again. Ever.
Maybe agonize is a strong word but if I am buying anything at that amount or more I nearly always purposefully hold off on buying it at least 1 day to give myself time to think about. So maybe agonize isn't the right term but I do go back and forth over the pros and cons for a day or two. I guess a more appropriate term would be a "cooling off" period or something similar. Get up over a hundred and I usually think about it for a week or more. If its something I need then I don't have an issue with immediately buying it.
I don't go through that when I am tossing down $50, $60 or even $100 on a meal at a restaurant.
Now that I am thinking about this, I realize that when my wife wants a $500 handbag, I am like sure go ahead and don't even think about it. I honestly cannot speak to why there is a difference for me. Now if she starts talking about stopping by Louis Vuitton or Fendi then I start getting apprehensive and we start talking about budget and does she really need this (unlikely, lol).
No I don't think I have a problem. I think its just a function of being broke early on when I first started out and not wanting to be there again. Ever.
You seem to spend more time thinking about it than it would take to earn that money.
what's the best way to determine? i have little fixed expenses ($825 rent being the biggest) and no debt. i make around $75k year and have a $7k car to trade in. but i am EXTREMELY nervous about buying a new $27k car that i want/need.
is this a normal feeling? how will i/should i know i can actually afford it?
You answered your own question, if you need to question your purchase continuously then you cant afford it.
Would you question buying a candy bar? probably not as it cheap. If you can't make the same snap purchase with regards to a car, then you cant afford a new one.
Ultimately, as a clever friend once said to me, "are you willing to part with a lot of money to impress a bunch of people you dont even know?" That is what most cars are about EGO!!
Otherwise everyone would drive a Civic..
I have bought some and may buy some nice cars in the future, but I am very clear about why I am dropping tens of thousands on a depreciating piece of fancy metal...
Well, you make a fairly decent living and have low expenses. So, on the simplest level, I would say yes. If you're financing 20K of the purchase price, you're looking at $325ish a month for 60 months or around $425 for 48 months (this is assuming a low APR). You can certainly afford it, in terms being able to make the payments monthly after all else is paid. But, as some have stated, you should consider whether having a new car is a priority to you. Some people would prefer to save that money, others would favor the enjoyment they get out of having a new car. This is purely your decision.
My only suggestion would be to find the same model but 'pre-owned', maybe 1 or 2 model years older with low miles on it. You'll save a few thousand and end up with much lower payments.
not true with subuaru. often times it ends up being more expensive.
A 2 or 3 year old Subaru Forester is often times not a great deal because the price is still so high. The last upgrade / body change was 2014. Depending on where you live (East Coast vs mountains) you may want the 2.0 turbo motor as the 2.5 NAs are dogs / slow at altitude.
You might want to visit / ask questions at the Forester forum.
They do have special financing ... between 0% and 2% depending on length of loan
Find out what the payments + extra insurance will be, then start sticking that much money in savings each month.
See how you feel about not having that extra money after 6 months of doing that. If you don't miss the money, then no problem. (New cars will still be here 6 months from now.)
This is a great idea. Bonus, if you do decide to go ahead with the purchase you'll have more than half of a 20% down payment socked away, and if you don't, you'll have a chunk of change for some other purpose.
If you don't think you can wait that long for a new car, try it for just two or three months.
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