Can I afford a 300-400 dollar car payment?
You really cannot afford it. Say you work for 6 months, I rounded the numbers but you talking approximately $16120 then take out approximately $3224 for taxes at 20%, (this does not include state taxes and social security so it is even less really) your take home pay is about $12896. Just to support this car the first year cost $5000, leaving you with just around $7896 or $658 a month to live on, that that does not include gasoline for the car which could easily eat up $400 or the $658 leaving you with nothing to little to live on. If you have to buy something go for a sticker price of around $7500 for 5 years putting you around the $150 a month range and depending on the interest rate you may be able to afford more of a car. But maybe take public transit, carpool or put an ad on craigslist.org that you are looking for a gently used car or scooter in the $500 to $1000.
I have a $850 car payment! I can't refi or afford it now. can i modify my car loan? mortgages get modified?
can you sublease it to anyone? Have you spoken to the credit (car) company..Normally the larger ones will let you make partial payments and some even let you skip payments based on your payment history. Call and see
I can't afford my car payment!?
I bought a 2004 Honda Civic after my first car was declared a lemon. My payments were $250 a month and I can afford that. However, the car is in my mom's name, but I pay the 250 myself. She had a deal that as long as I stayed at home for school (going to a community college), she would pay my car insurance until I got in my first accident. Well, I got in my first accident a couple days ago. It was a fender bender and all I did was take paint off of the other cars' back bumper in the corner. I told the girl I hit that I would pay for the paint job (because it wasn't that bad). My car has more scratches than hers does from the accident. She told me that she didn't want that and called the police. The police officer said that the damage to her car was $1000!! How in the hell is it $1000? All she needs is touch up paint, seriously. She didn't have one scratch on it, just chipped paint. Well, I can't afford my car insurance and payment each month now. My insurance before my accident was over $200 a month. I have to pay for school and I have a minimum paying job, so I couldn't afford that. Now I really can't afford it and I'm afraid my insurance is going to shoot over $300! I don't know what to do. I can't afford my car and my mom isn't helping at all. I got a $144 ticket, which I am going to take driving school for to get the points off of my license. But, since there was an accident, my insurance will still go up regardless if I take the driving school or not. I just want to get rid of the car and buy a $1000 one until I can afford payments. And since my new car will be paid for, I can have the bare minimum for my insurance policy. Can I just give the car back? I bought it from a tent sale, not a dealership. HELP!? I'm lost and don't know what to do!
I can afford a $720 auto payment, what luxury sports car do I purchase?
The only luxury sports car you can buy with a $720 monthly payment would be a Chevrolet Corvette. The MSRP on a 2017 Stingray 1L is $57,640. Chevy has many discounts and promotions right now until 11/30/17. They are $3,000 for Chevy loyalty; $1,500 for the 57th anniversary celebration discount; and dealers are offering $5,895 off the MSRP because of year end and the new model year coming. That drops the price to $47,245. A six year auto loan at 5% interest (with great credit you can do much better) and a 7% sales tax, with $5,500 down payment or trade, your monthly payment would be $721.34. My Jaguar F-Type Supercharged V-8 had a $96,000 sales price and the monthly payment is more than double. Good luck.
I make 800 a month, can i afford to buy a used car?
In short, no... Here's why: A Honda Civic, to be priced at $5,300, would be a pretty old vehicle, with very high miles. Most Lenders don't like to finance cars over 100,000 miles, no matter what the make or model. In addition, after 4-5 years, you won't get 60 months, and most likely, you won't get 48 months either. for a 2001 or 2002 Civic, you will most likely get financed for 30-36 months> What does this mean to you? A $5,300 car, minus your $1,000 down, plus tax ($344 - estimated at 8%), plus title and license (estimated at $450), will cost you $5,094. At 12.95% interest (first time buyer), you're looking to pay around $156 per month (if you can get approved). Here's your problem: You need to carry full coverage insurance while you're financing your car. At 19, you're looking at no less than $250 per month. You're 19, and the insurance company knows that the reason you have no tickets or accidents is becasue you have no experience as a driver. The only thing that will signicantly reduce your insurance cost is turning 25. Now, you need to put gas in your car, so let's estimate another $250 per month (national average). You need to consider incidentals (tires, oil changes, maintenance and upkeep) for a 12-13 year old car, so let's estimate 100 a month. Just on your car, you've spent $756 of your $800 monthly income. If you can can live on the $44 left over every month, for the next three years, then more power to you. However, you're one major issue from losing your car, for the next three years. At this rate, with your current job, saving every penny you have left over, after your car is paid off, you will have saved $1,584. Rather than trying to finance a car, why not save $1,000-$2,000, buy a beater, put liability insurance on it, and drive it until the wheels fall off? Using the same figures for gas and upkeep, and figuring liability insurance at $80 per month, you'd have an additional $370 per month, and could save $13,320 over 36 months (the time it would take you to pay off the Civic). There's a big difference in being able to pay for a car, and being able to afford a car. You can't afford to finance any car with your income. Sorry it's not what you wanted to hear. Good luck...
Is $420.00/month too much of a car payment?
it really all comes down to how much you make and much you spend. gather up all your expenses: bills, and spending. dont forget savings! (example: $640 bills - $200 other = $840 per month) subtract it from your monthly earnings. (example: $840 - $2,000 = $1,160) now you should be left with your disposable income. (example: $1,160) if you end up with little money then you might want a lower monthly payment because you have to also take in consideration of your new expenses when driving a car (assuming you don't already): 1) gas 2) insurance 3) maintenance look for the lowest apr and best priced vehicle. always make sure its something that won't tighten your budget, and leaves you with enough to put into savings!!! happy car hunting =)
What is your monthly car payment?
Just wondering. I'm planning on purchasing a used 2010 and beyond Toyota, Nissan, or Honda car of any brand, by affordability. What should I expect to be my monthly payment if I found a car between 10k and 20k? Thanks in advance for all your help.
Is 1000 dollars a good down payment for a car that is 20,000?
you should shoot for 10% as the down payment at the least so 2k if you borrow to much you have to pay more in the end and who wants that? plus youll own the car 100% sooner. deffenently need atleast 10% down, but if you can do more do so. if you cant afford to put 10% down (no offense) you prolly cant actually afford the car (even though the dealer may make it look like you can) hope this helps
Is a $500 monthly car payment too much?
There’s a guy at work who leased a new car. He used to have a used Ford Focus diesel…Quite nice, but it (fairly unusually) ate it’s oil pump and trashed the motor so….He went out and got a brand new Peugeot 208…All shiny and in the colour he wanted, with all the toys, info screen, climate, all that stuff…And for a month or so that whole brand new car full of clever shit was worth the £250 per month….Now, 6 months down the line, it’s just a car, but the £250’s per month continue. So far he’s spent £1500 and has a new car that is getting older, less special, and more ‘used’ by the day.Two months ago I paid £1500 for a 1990 MX-5. When I first saw it, my boss had paid £500 for a faded red (in fact pink) relic found in a barn. While he debated selling it, I polished it and he spent about £300 getting it mechanically perfect (that’s £300 with employee discount so perhaps £500 in everyone else’s money).Discs, pads, MOT, cam belt, full service etc etc.He wanted to clear £500 profit so…£1500 to me.I go out every evening and polish it. I’ve sorted the audio system (new door speakers…£20) had a four wheel alignment (£55)…And I drive it…And every time I drive it the grin gets bigger.My £1500 car gets more valuable every time I improve it, it gets better to be in every time I go out, and people like to see it…You are going to spend $18000 over 3 years and for most of that time that $18000 will be paying for a used front wheel drive compact.In a years time the new one will come out and someone will pay $500 per month, the same as you for one., His will be new, yours will be last years model.It’s your money, but no one got laid because they drove a Honda….Apart from Fernando Alonso possibly…