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kev374
Participant[quote=AN]So to afford a $20k car, you’d need a net worth a 1/3 of that?[/quote]
it’s not a linear scale that way. It’s needs vs wants. The first $15-20k of car may be a *need*, you need decent transport for work etc. But the other $40k is then fluff that can be afforded only if you have all your other more important financial priorities set…savings, retirement, emergency fund, kids college, home paid off, investments etc. etc.
Participant[quote=AN]So to afford a $20k car, you’d need a net worth a 1/3 of that?[/quote]
it’s not a linear scale that way. It’s needs vs wants. The first $15-20k of car may be a *need*, you need decent transport for work etc. But the other $40k is then fluff that can be afforded only if you have all your other more important financial priorities set…savings, retirement, emergency fund, kids college, home paid off, investments etc. etc.
Participant[quote=AN]So to afford a $20k car, you’d need a net worth a 1/3 of that?[/quote]
it’s not a linear scale that way. It’s needs vs wants. The first $15-20k of car may be a *need*, you need decent transport for work etc. But the other $40k is then fluff that can be afforded only if you have all your other more important financial priorities set…savings, retirement, emergency fund, kids college, home paid off, investments etc. etc.
Participant[quote=AN]So to afford a $20k car, you’d need a net worth a 1/3 of that?[/quote]
it’s not a linear scale that way. It’s needs vs wants. The first $15-20k of car may be a *need*, you need decent transport for work etc. But the other $40k is then fluff that can be afforded only if you have all your other more important financial priorities set…savings, retirement, emergency fund, kids college, home paid off, investments etc. etc.
Participant[quote=sdrealtor]Call me crazy but anyone who spends 80K on a car is nuts unless they have way too much money. In that case they should have too much money to spend and should be buying real estate too. HMMMMMMM…..Note to self: Hang out at Lexus/BMW dealerships.[/quote]
This is how people become poor. They blow their money on cars that depreciate 20% when they drive it off the lot. Most people who buy BMWs/Lexuses really cannot afford it by a long shot.
In my opinion to afford a $60k car you should have a net worth excluding primary residence and retirement of at least $500,000.
Participant[quote=sdrealtor]Call me crazy but anyone who spends 80K on a car is nuts unless they have way too much money. In that case they should have too much money to spend and should be buying real estate too. HMMMMMMM…..Note to self: Hang out at Lexus/BMW dealerships.[/quote]
This is how people become poor. They blow their money on cars that depreciate 20% when they drive it off the lot. Most people who buy BMWs/Lexuses really cannot afford it by a long shot.
In my opinion to afford a $60k car you should have a net worth excluding primary residence and retirement of at least $500,000.
Participant[quote=sdrealtor]Call me crazy but anyone who spends 80K on a car is nuts unless they have way too much money. In that case they should have too much money to spend and should be buying real estate too. HMMMMMMM…..Note to self: Hang out at Lexus/BMW dealerships.[/quote]
This is how people become poor. They blow their money on cars that depreciate 20% when they drive it off the lot. Most people who buy BMWs/Lexuses really cannot afford it by a long shot.
In my opinion to afford a $60k car you should have a net worth excluding primary residence and retirement of at least $500,000.
Participant[quote=sdrealtor]Call me crazy but anyone who spends 80K on a car is nuts unless they have way too much money. In that case they should have too much money to spend and should be buying real estate too. HMMMMMMM…..Note to self: Hang out at Lexus/BMW dealerships.[/quote]
This is how people become poor. They blow their money on cars that depreciate 20% when they drive it off the lot. Most people who buy BMWs/Lexuses really cannot afford it by a long shot.
In my opinion to afford a $60k car you should have a net worth excluding primary residence and retirement of at least $500,000.
Participant[quote=sdrealtor]Call me crazy but anyone who spends 80K on a car is nuts unless they have way too much money. In that case they should have too much money to spend and should be buying real estate too. HMMMMMMM…..Note to self: Hang out at Lexus/BMW dealerships.[/quote]
This is how people become poor. They blow their money on cars that depreciate 20% when they drive it off the lot. Most people who buy BMWs/Lexuses really cannot afford it by a long shot.
In my opinion to afford a $60k car you should have a net worth excluding primary residence and retirement of at least $500,000.
Participantwhy are they giving them more time to come up with “new” plans? This is just an eyewash to appease the public by the crooked Obama administration. These auto companies have been coming up with new plans since last March and in the interim while they PLAN the government is going to give them billions in operating capital!!
Just let them fail already and be done with it.
Participantwhy are they giving them more time to come up with “new” plans? This is just an eyewash to appease the public by the crooked Obama administration. These auto companies have been coming up with new plans since last March and in the interim while they PLAN the government is going to give them billions in operating capital!!
Just let them fail already and be done with it.
Participantwhy are they giving them more time to come up with “new” plans? This is just an eyewash to appease the public by the crooked Obama administration. These auto companies have been coming up with new plans since last March and in the interim while they PLAN the government is going to give them billions in operating capital!!
Just let them fail already and be done with it.
Participantwhy are they giving them more time to come up with “new” plans? This is just an eyewash to appease the public by the crooked Obama administration. These auto companies have been coming up with new plans since last March and in the interim while they PLAN the government is going to give them billions in operating capital!!
Just let them fail already and be done with it.
Participantwhy are they giving them more time to come up with “new” plans? This is just an eyewash to appease the public by the crooked Obama administration. These auto companies have been coming up with new plans since last March and in the interim while they PLAN the government is going to give them billions in operating capital!!
Just let them fail already and be done with it.
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