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Old 12-12-2010, 05:13 PM
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SeattleMike SeattleMike is offline
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Join Date: Feb 2010
Location: Umm... Seattle ;)
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SeattleMike SeattleMike is offline
Senior Member
SeattleMike's Avatar
 
Join Date: Feb 2010
Location: Umm... Seattle ;)
Age: 54
Posts: 1,683
SeattleMike is on a distinguished road
Quote:
Originally Posted by Snowfox View Post
Good for you but not everybody can do what you can, I think it will be safe if your car payment is 10% of total income max, more than that you may run a risk of......
I'm not trying to be "holier than thou" here, I'm just pointing out that saving is cheaper than financing. Socking away that same car payment will eventually result in a new vehicle, but without paying interest, without finance charges, and without further concern about "affording the payment" should something happen like losing a job or sudden illness. If you are saving up, you can delay the purchase. If you are making payments, you end up hiding from the repo man.

And everyone can do what I did, it's just that most people want it right now and choose debt slavery over delayed gratification. It's not that they can't, it's that they won't.
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