Question:
I'm planning to buy my very first car, preferably a new one. I'm in a bind right now as I also need to save for unexpected emergencies, marriage & retirement. please provide extra details to help me deal with this thing. thank you very much!
Answers:
Is selling a car a bad time now? When is a good time to sell a car after the holidays?
Housing costs -- mortgage or rent -- should not exceed 28% of gross pay. Total debt service -- housing, car loan, credit cards, all other loans, etc. -- should not exceed 35% of gross pay.What are some things I should look for and ask when buying a used car?
Those are the maximum amounts. You should aim about 25% BELOW those limits or about 20% and 25% respectively.
what do you think i should do?
So, if your gross monthly income is $2,000, your housing should be LESS than $560 and total debt should be LESS than $700. If you had no other debt, that would leave you with $140 for a car payment if your housing were at $560.
What is a reasonable range of mileage to expect?
Do the math and plan accordingly.
Do you still have to pay a dealership or bank when you give a car back?
Wealth tip: Salt away 10% of EVERY paycheck. Pay yourself FIRST and then budget everything else around what's left. You'll retire comfortably and will be able to weather pretty much any financial storm along the way.
me want sell my truck, it 95 pathfinder, how much is it worth for?
You do NOT need a new car. Go to www.daveramsey.com as soon as possible.More Questions & Answers ...
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