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Poll: Income vs. Car Payment.


iwishiwascool

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Exactly why I went new. Used for 28k or New for 31k with a full 100k mile warranty.

 

As shown in the pic above I bought an 06 Mitsu Evo 9 SE.

 

I now own 3 freaking cars. Time to head to the corral.

 

I didnt see the pic, for 3 grand difference new is the way to go!!! I love Evos, that car is nice!!!

 

Before Linn gets to you......Lets go for $20, I'll let you get the jump :D

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Ken, awesome purchase - car looks wicked. :cool:

 

By my calculations, the Z06 payment is 0.07% of my net income.

 

Also, I agree with Greg on his earlier post about debt ratios and so forth - I just met with a mortgage lender and we had a long conversation about all that shit. Greg and that guy - who knows his stuff, seemingly - said the same things. Ergo, Powers is teh winnar.

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By my calculations, the Z06 payment is 0.07% of my net income.

 

By my calculations, your calculations are wrong. Maybe 7%, but no way 0.07%. A $600/mo payment being 0.07% would put the monthly income at $857,142 NET each month. If you make that much, I'd marry you.

 

;)

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By my calculations, your calculations are wrong. Maybe 7%, but no way 0.07%. A $600/mo payment being 0.07% would put the monthly income at $857,142 NET each month. If you make that much, I'd marry you.

 

;)

 

I didn't realize you were in bed with the good doctors finances. Maybe he put 30K down on his 34K car. This way his car payment is only 68 bucks a month. HAHA, just playing around!

 

Nevertheless, I am at 9% for my FD. Worst purchase I have ever made!

 

Ty

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By my calculations, your calculations are wrong. Maybe 7%, but no way 0.07%. A $600/mo payment being 0.07% would put the monthly income at $857,142 NET each month. If you make that much, I'd marry you.

 

;)

 

Isn't 0.07% the same as saying 7%? Maybe not. In any event, sorry for the confusion - I just put down what I read on the calculator, which was this figure: 0.0732. Seems like I fucked something up in the translation of that. Mathematics was never my forte. :)

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Isn't 0.07% the same as saying 7%? Maybe not. In any event, sorry for the confusion - I just put down what I read on the calculator, which was this figure: 0.0732. Seems like I fucked something up in the translation of that. Mathematics was never my forte. :)

 

 

0.0732 = 7.32%

 

When doing an equation to get a percentage, you move the decimal two places to the right. For example, 0.50 is half of 1.00, therefore 50%

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Isn't 0.07% the same as saying 7%? Maybe not. In any event, sorry for the confusion - I just put down what I read on the calculator, which was this figure: 0.0732. Seems like I fucked something up in the translation of that. Mathematics was never my forte. :)

.0732 x 100 = 7.32%

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