Originally Posted by Skiptomylou37
Originally Posted by persian54
To me, everything is in percentages.
If you're making $2k/month, then 700/month is too large of a percentage.
If you're making 7k/month, then 700/month isn't an issue considering you have no other responsibilities or real liabilities/debts/etc
if you're making 14k/month, even better.
and so worth.
I wouldn't s/c it though. Too much of a liability as well as an upfront cost. New/newer= longer warranty as well so less headaches.
All depends on what % of your income it'll take away and how much it'll impact your ability to save/invest/enjoy elsewhere (since a car isn't everything)
I really can't give an exact number because my commission varies from month to month, but AFTER taxes I would say I usually make 5-6k a month, thats including the 1k/month I make from my side job.
Some inputs from me since I am also at your age
I make ~7800 after tax each month in paycheck, and I drive a 2013 M5 with monthly lease payment of 1169, and since I live in VA, I am also responsible for about 4.5k car tax each year
But I already own a house that's paid down in full by my parents...so I kinda don't have to worry about savings, otherwise I don think ill make big investments in car at this age