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Old 09-09-2012, 04:55 PM
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miamiboyca miamiboyca is offline
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Location: Dallas, TX
 
Join Date: Jun 2012
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Quote:
Originally Posted by LukeS View Post
Based on a financial advisory I read, people should spend no more then 10% of their monthly income on a car payment(s). So at 60K a year, this is $500 a month max. So over five years this is about a 30K car at today’s interest rates. He is at ~20% assuming he put little down, however, if he is young and single, has no dependents, then why not. When I was in my early 20s, I had a M3 and it was well over my head financially, but I was able to swing it, I loved and enjoyed the car, and it got me laid countless times. So it was well worth the investment. I could have done things differently but at the expense of living. In fact, that purchase helped give me the balls to take bigger investment chances and led me to a better place financially.
Are these the same financial geniuses that bankrupt the banks and put the liberals in power?

For me its simple - when I am old I will drive whatever. Tomorrow is guaranteed to no-one, enjoy while you can. Some day kids will be your priority and you will want so spend everything on them. School, braces, vacations so when they grow up and spend to much they can blame their mother
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