How much do you have to make to afford an S4
07-06-2000, 06:34 PM
#34
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Finance close to or below $20k & your payment is just like "normal" cars
Just swing by autoweb.com or one of those other sites that let you figure out payments then see what it will take to get the payment you want.
Don't forget interest rates, then can affect you payment and overall cost by a few bucks.
Don't forget interest rates, then can affect you payment and overall cost by a few bucks.
07-06-2000, 07:25 PM
#36
AudiWorld Senior Member
General rule => your payment shouldn't exceed 15% of your total Monthly Gross income.
For example, If you make $60k / year or $5000/mo. you shouldn't spend more than 15% of $5,000 which is $750/mo.
Now if you only make $40k/year or $3333/mo. and 15% of that is only $500/mo. payment. So I would recommend putting $15k down on a $40k car so your payment is only $500/mo. But I wouldn't recommend buying a car that equals your salary.
Live below your means,
RocketJohn
Imola S4 - AKA - The Fast One
Now if you only make $40k/year or $3333/mo. and 15% of that is only $500/mo. payment. So I would recommend putting $15k down on a $40k car so your payment is only $500/mo. But I wouldn't recommend buying a car that equals your salary.
Live below your means,
RocketJohn
Imola S4 - AKA - The Fast One
07-06-2000, 07:54 PM
#37
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Re: How much do you have to make to afford an S4
This is tough question to answer. Depends on many factors, I don't know if there are any exact rules, I know for me, my car is my hobby so I will get alot of enjoyment out of it.
My wife and I only pull in about 100k combined, house payment is $1350, her car is payed off, no kids yet (maybe the fall of 2001).
We should not have any problems affording the car, plan to put down approximately 12k, car is due in October.
I can tell you this from my experience, every year my salary has increased by approx. 15%, I thought the same thing when I bought the house, can we afford this ? We've never looked back.
It all comes back to this, how important is the car to you. You have to weigh this option as well. If it is very important then you will have no problem sacrificing a few other things in your life.
My wife and I only pull in about 100k combined, house payment is $1350, her car is payed off, no kids yet (maybe the fall of 2001).
We should not have any problems affording the car, plan to put down approximately 12k, car is due in October.
I can tell you this from my experience, every year my salary has increased by approx. 15%, I thought the same thing when I bought the house, can we afford this ? We've never looked back.
It all comes back to this, how important is the car to you. You have to weigh this option as well. If it is very important then you will have no problem sacrificing a few other things in your life.
