I'm thinking of getting a new loaded Silverado for $630 monthly. I'm losing a lot of sleep because of this. Just want to get some advice.
I want a new whip badly and eventually I will have to bite the bullet but I'm not looking forward to a car note at all. 630 is too deep my pockets right now. I would be looking at 400
If you're losing sleep over it then don't do it. You can't afford it. Even if your bank account could, you can't mentally, so don't do it.
You do realize, that outside of super cars, any car note will be easily affordable if you are rich? So yes, if you are rich, then you wont have to worry about any car payments...until then, make sure you are paying less than you can comfortably afford.
I don't want to get all SwoLy about it but your statement doesn't make sense then. You don't need the qualifier 'until you get rich'. Basically it should have simply read, 'Make sure your car payment is less than you can comfortably afford.'
I can afford it. I guess I just feel like my stuff going to get stolen. It's showroom truck. I got some alcohol to calm down. The older I get the more I worry about stuff.
It's a car/truck. **** happens. If it gets dinged, fix the ding. If it gets scratched, paint the scratch. If it gets stolen, call the insurance. Get zen about it and don't sweat it too much. Some people will buy their dream car and leave it in the garage because they're afraid of putting miles on it and getting dings and rock chips, etc. All they're doing is making sure the car looks pristine for the next guy. When I got my 911 I promised I wouldn't make it a garage queen. It's my daily and I'll park it at Walmart if I need to. I still take precautions, etc, but if stuff happens it happens.
Oh jeez...the rich comment was a play off the other thread that talks about what it takes to be rich. I mean, does it really make a freakin difference? Sheesh.
Well, initially my comment was just to tease you but your response didn't make any sense to me from what I consider rich. Because if you have $3mil liquid cash in the bank and can live off the the $150k returns each year, I consider that rich. But you can't just go and buy a McLaren without thought because it'll eat into your investable money.
The monthly note amount should only be part of it. Affordability is really all that matters given that it might not be the wost thing to finance most of a car if you get a particular low interest rate.
If you can afford it I would recommend saving for another year, put down a bigger down payment and cut that note in half.
Is it really that much of a benefit to put a bigger down payment down with auto loan rates as low as they are assuming you qualify? This is also assuming the affordability of the monthly payment isn't a big deal.
