That's why I said $300k would be a reasonable annual income to swing a 360. You gotta figure in the house note and expenses. I hope you would have a house that is worth more than your car!360 Spyder said:Well, let's break it down like this...
$130,000 Ferrari. With a 60 month, 0% intrest rate loan (WHICH IS NOT GOING TO HAPPEN) - 130,000 divided by 60...$2166.67 a month. BUT, intrest will increase that! Multiply that by 12 and you are paying $26,000 a year for just the car. That does not include insurance, gas, tires, oil, servicing, or living expenses such as food and home. Nothing but the car with 0% intrest (which will not happen :wink: ) $26,000 a year.
So...you need to make some serious green to be able to step up to that plate.
But...set your mind to it and you will accomplish it. Don't let those who failed or did not try bring you down. Work, work hard and it will happen.
The sad thing is that around here, there is a ton of Section 8 housing (Government subsidised for those who can not afford a home) that the people who live in them have cars worth far more than the home. Makes me mad to see a family of 5-6 kids coming out of those houses and getting into a new BMW or Mercdedes. There once was even a Rolls Royce that lived there. That person ended up being arrested for fraud though, so he got his just rewards.Pete04222 said:That's why I said $300k would be a reasonable annual income to swing a 360. You gotta figure in the house note and expenses. I hope you would have a house that is worth more than your car!
Thanks for the tip, I forgot about a shower. Actually, I am looking at about a 1,500 sq ft garage. I told my wife that I want a garage that is big enough that I can back the jeep into it, on it's trailer, and close the door in front of the truck. I'm thinking one big door on the end, offset (for the truck and trailer, boat, motorhome, whatever) and one small door on the side (the Ferrari door). Still leave me plenty of room for my workshop.Boxer said:Pete, Suggest you reach a compromise. 3000 sq ft of house, 3000 sq ft of garage. I would also keep at least one toilet and one shower, :wink: