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Question about a large auto loan

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Anonymous
Not applicable

Re: Question about a large auto loan

Looks like someone is looking at picking up a used GT-R. Smiley Happy Anywho, in order to have a legitimate chance od obtaining a 60K car on a 65K salary, you'll need to put about 17K in cash down. If you don't have that kind of money in the bank, it may not be a good idea to put yourself in a financial hardship type of situation for the next 5 years. You could always look at the 40k range, like the 370z Nismo...
Message 11 of 13
marty56
Super Contributor

Re: Question about a large auto loan

In that price range, IMHO people either lease or PIF.  If you get a 0% loan for 5 years, a 1k monthly payment is high but to be honest I was paying 1400 in a DMP program for 5 years so given the choice I would have taken the car payment.

1/25/2021: FICO 850 EQ 848 TU 847 EX
Message 12 of 13
ngerasimatos
Valued Contributor

Re: Question about a large auto loan

I need a high payment for tax purposes. I either spend the money on a car, or give it to the IRS. Which one would you prefer Smiley Wink ?

Try not to become a man of success but rather to become a man of value
Albert Einstein 1879 - 1955

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Message 13 of 13
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