Quote:
Originally Posted by Ricochet48
You're a recent college grad, even at $100K I would just wait and buy used. Max out your 401K instead, you'll thank yourself in the long run.
I also would aim for 33% of your gross. If you're really a car guy, maybe stretch to 40%. So a decently loaded M240i xDrive after TTL is like $60K, so you'd need to make $150K minimum.
Americans need to stop buying way more car than they can afford.
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150k minimum is a comical amount for an M240i xDrive, let's be real. $7500/month take home for a 60k car after benefits/retirement contribution?
Especially if he's living at home, $15k down even @ 60 months is roughly $900/month for financing if he wants the car. It's not like he's going to be struggling to live with 100k gross buying a 60k car.