Buying A Car Based On Income -

He looked at the SUV. It was gorgeous, but it was a cage. He pictured himself sitting in traffic, massaging seats on, while stressing about whether he could afford the gas to get home.

The payment was $300. He could do a four-year loan. He could still afford weekend trips, concert tickets, and his savings account wouldn't stay at zero. buying a car based on income

whispered, "You earned this. Everyone will see you pull up in this and know you’ve made it. It’s only $700 a month. You can eat ramen for a year." He looked at the SUV

(who sounded suspiciously like his frugal Uncle Pete) countered, "Leo, you make $55,000 a year. After taxes and rent, that $700 is half your 'fun money.' One flat tire and you're cooked." The payment was $300

Between the payment, insurance, and gas, the SUV would eat 25% of his take-home pay.

He walked past the "Status Symbols" section to the certified pre-owned lot. There, he found a three-year-old silver sedan. It wasn't a head-turner, but it was reliable, had Apple CarPlay, and—most importantly—the numbers clicked.