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

[BlackStarryKnight]

I’m just talking shyt man lol I don’t have legit finance advice for something like this. It’s nice to see you can come here and really find people who do tho. I like old school stuff mostly

 

[Arithmetic]

NOBODY DOES 4 YEAR LOANS ON CARS THOUGH.

What length is most common?

 

[Collateral]

What length is most common?

Either 5 years which is 60 months or 7 years if your credit is really shytty, 72 months.

 

[MoveForward]

150k…

 

[Arithmetic]

Any car that cost in that range and up, I would just buy it outright. So if I made 100K, I would have to work 3.5 years to have enough to buy it. Having a note just makes no sense for something that large. And it depreciates immediately? It's like student loans all over again.

It's the opposite. You're better off having a note BECAUSE it depreciates so quickly. Especially if you have good credit.

 

[jwall123]

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.

So true. Just had a salesman ask me how much I was trying to spend on a new car. I told him I needed to know the cost of the car to determine the an estimated monthly. Then he started spitting numbers 15k over msrp. Let’s just say he still has the car.

 

[Son Goku]

So true. Just had a salesman ask me how much I was trying to spend on a new car. I told him I needed to know the cost of the car to determine the an estimated monthly. Then he started spitting numbers 15k over msrp. Let’s just say he still has the car.

But let some random coli poster that's never had a sales job put you on game.

 

[MR. SNIFLES]

What length is most common?

5 YEAR/ 60 MONTH IS THE INDUSTRY STANDARD BUT THE THE COST OF CARS IS PUSHING THAT NUMBER OUT FURTHER AND FURTHER.

 

[oGTRFG]

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

no way anyone is this dumb

 

[Wadani Royce]

150-200k at the most but a $75k car note?!? What's the lease like??? what is it like a Maybach or supercar?!?

Nah, not something like Maybach or similar supercars lol

We are talking about Charger SRT Hellcat and similar range. And I'll say you should be making around 125k - 150k.

 

[1thouwow]

SMARTER PEOPLE DO 3 YEAR LOANS. WE CAN KEEP GOING DOWN TO PAYING CASH...

nikka take the L and keep it moving

 

[MR. SNIFLES]

nikka take the L and keep it moving

YOU THE ONE MENTIONING LOAN TERMS THAT LITERALLY NOBODY TAKES.

 

[1thouwow]

YOU THE ONE MENTIONING LOAN TERMS THAT LITERALLY NOBODY TAKES.

I took a 4 year

 

[Astroslik]

I’d only get a jaguar f pace svr or x6m50i via lease

 

[SleezyBigSlim]

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?

Just depends on that downpayment. If you have good credit and put down 30k you can get that whip under $400/month. But you're an idiot to spend that kinda bread on a car if you dont have a house yet. That same 30k downpayment should be on a house instead.