How much do you need to be EARNING to Buy a $75,000 Vehicle?

[Stuntone]

How much is a $75000 car note?

I love cars. Love riding fly. I'm almost in the market to get a new whip. I'm really not trying to spend more than 50k. But all the super fly cars are around 75. I really want a Audi A7. or an SUV like an Escalade or Range Rover with a great warranty. I make good money but 1000$ monthly note to me is crazy.

Back in Louisiana, the say is don't spend a lot of money on a vehicle unless you can making money with it. Like hotshotting or towing.


What yall think?

 

[DaddyFresh]

200+ k minimum if done responsibly.

 

[ball15life]

Depends on your monthly spending, how much you put down, and debts tbh but I'd guess minimum $150,000 if you put a decent amount down

 

[F*ckthemkids]

If you can’t buy it twice. You don’t buy it.

 

[Stuntone]

Depends on your monthly spending, how much you put down, and debts tbh but I'd guess minimum $150,000 if you put a decent amount down

So half of your Annual Income is probably the max you should spend on a car? Sounds reasonable

 

[NinoBrown]

250k..

 

[BaldingSoHard]

Depends on a lot of factors.

What's your net worth?
What's your current DTI?
Are you owning or renting?

Edit: You still got the Maxima? Ride that shyt till the wheels fall off, breh. Right now would be a terrible time to buy a car, with both interest rates and car prices near 2-year highs.

 

[Doobie Doo]

First of all you never look at the TOTAL cost, you look at the montly car note and determine what you can afford to pay on a monthly basis and how good your credit is

 

[RickyDiBiase]

Why buy a new car?

 

[malleymal]

it all depends on your other responsibilities. My car is around 70,000. I put down about 20,000 and comfortable with a household income around 300k a year. I also have a kid.

 

[Geek Nasty]

You're paying WAY more than $1K/mo, probably like $1.6K/mo for a 5 year loan after you factor in taxes and title. And don't forget about annual property taxes, registrtation and insurance.

I wouldn't touch a $75K car unless I was pulling in $300K or so because it's a luxury item. At a certain point the added value in a car is just the brand.

EDIT: breh I just looked up the new A7, I understand the need Saw one a month ago on the highway with the spoiler popped

 

[⠀X ⠀]

I say $175k. Maybe more, depending on where you live, your family situation, how much you have saved/invested and how much debt you’re in. Chances are you’d be better off getting a $50k car and investing the money you’d save. Then you can buy the car you want in the future, and go into less debt for it.

 

[MasterOfAllHeSurveyz]

Depends on your spending habits. Making $20k, $200k or $2m annually ain't worth a hill of beans if you're spending it all.

 

[UncleTomFord15]

200k bare minimum

 

[Son Goku]

First of all you never look at the TOTAL cost, you look at the montly car note and determine what you can afford to pay on a monthly basis and how good your credit is

That's actually the worst advice and what we used as car salesmen to get folks to buy more car than they need or could reasonably afford.