Quote:
Originally Posted by RobertAvitia
So the 1LE is my absalute dream car, I was planning on getting one but I didn't think buying one was something I would be able to do so I bought a 2.0L instead. Almost a year later, I'm still in need of a 1LE so I went to go look at one. After talking with the dealer, with my current credit, trade in value and downpayment, the payments would of been 750 for the 1LE..... now my question is,,, is it worth that much??
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The payment alone is not enough info to answer this question. The 20/4/10 rule is a really good one.
Put down no less than 20%.
Finance the car for no more than 4 years.
Your payment should be no more than 10% your gross income.
Just looking at that last one, as to me its the most important. You need to make $84,000 a year to justify a $700 a month car payment. All that said ONLY you can decide if that car is worth that payment.
How you feel is also very important. A large car payment gives me serious anxiety for some reason. I make a little more than I need to for a $700/mo payment, but anything over around $500/mo just freaks me out a little.
In the end, do what makes you happy. If you stress about the payment, no matter how much you love the car, you wont be truly happy.