|
Why is it when I do the 20/4/10 rule it seems the only cars I can afford are $5,000?
Math: [list][*]Over $50K/year[*]Less than $4k/month after taxes[*]That's less than $400/month for transportation costs[*]$100 for insurance, $150-$200 for fuel, $0-$50 for other costs[*]That leaves $100/month for car payments[*]After fees, taxes and everything, but with a 20% down payment, the cost of the loan itself will need to be around $5k.
2013 Nissan Versa, Here I come!
__________________
|