All debt will be paid off in the next two months minus my student loan ($20,000 over the next 30 years), monthly payments worked out to be about 15% of my monthly salary after taxes (on a 5 year loan), all other bills work out to be $1200 a month (Rent, utilities and cable). I would be looking to pick it up in September, guys doesn’t want to get rid of it till then really, when he is deployed. I don’t need something that is reasonable as I have a full size SUV that I will be keeping as a second vehicle. I want something small, fun and tossable for the drive to work and around town
or do the more reasonable thing and pick up Moffit’s Z if it is still around by then.
what kind of interest rate are they giving you? and holding $20k in student loans over 30 years is gonna end up in you paying many times that in interest, you may be better off just paying those off quickly…
I really don’t like the green either, I really want Arctic White.
The reason I was leaning towards this one was because it was relatively close to me (about 3 hours away)
about the house thing, I am really fine living in a downtown loft for a couple years to I figure a couple things out (ie is my company going to send me to San Diego when the new office opens or not)
Don’t ask the financial guys, you wn’t like the answer.
First advice is to clearly pay off the student loan MUCH faster than 30 years, look at the cost of the loan even at the menial 3% and you’ll barf.
That said, its flex cash, and its yours to do what you want with. You don’t have a pile of debt, so buying toys is a luxury you get (no idea of your income level which is paramount in this discussion). However, if you can put down 50% I’d say go for it in a heartbeat without an ounce of regret.
If you can’t put down more than 25%, I’d probably change my tune though, even at a low interest rate, for a fun car, you should be able to pay for some of it up front, so you aren’t getting as hosed on the interest/depreciation combo lover.
I’m also assuming your SUV is paid off, and you make more than $80k/yr
Don’t ask the financial guys, you wn’t like the answer.
First advice is to clearly pay off the student loan MUCH faster than 30 years, look at the cost of the loan even at the menial 3% and you’ll barf.
That said, its flex cash, and its yours to do what you want with. You don’t have a pile of debt, so buying toys is a luxury you get (no idea of your income level which is paramount in this discussion). However, if you can put down 50% I’d say go for it in a heartbeat without an ounce of regret.
If you can’t put down more than 25%, I’d probably change my tune though, even at a low interest rate, for a fun car, you should be able to pay for some of it up front, so you aren’t getting as hosed on the interest/depreciation combo lover.
I’m also assuming your SUV is paid off, and you make more than $80k/yr
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Truck has been paid off for years and yes + 10% bonus.
I will be putting 20% down (could do more if I play things right and don’t take the vacation I am thinking of)
