Quote:
Originally Posted by DJKapeesh
Hey guys,
let me start by saying this is a project I have been working on a while to put together some sort of reference material for young car enthusiast who are thinking about buying a car.
-I'm asking you to please describe what car you bought?
-What was the price of the car? Monthly payment amount?
-How did you buy the car? (100% Finance or 50/50 Cash finance ect?)
-What is you income and is this car affordable?
-Lastly what do you have in the bank? (Stock, savings, IRA, ect)?
If you wish to provide the information anonymously feel free to do so here: Wordpress BLOG
For my own personal use I would like to know what my finances should be before buying a 1M and how I should go about buying 1?
If you offer your contributions to this I will be using them at a later time to provide a write up for young generation X Y and millennials.
Thanks guy! |
Your post completely ignores debt to income ratio, which is the most important factor.
You can make $100k+/year and not have enough money to buy groceries depending on what your debt to income is.