The $40k car was financed at 8-something percent and refinanced about 6 months in with a credit union at 2.85% in 2020. The $70k car was financed at 8.4% but I was quoted 5% from the same credit union in 2022, however the dealer required I finance with them to get the car at MSRP, otherwise there would be a $10k markup.

Aug 9, 2023 · The banking guidelines are % of payment-to-income, they divide your new monthly payment by your gross income. If that number is over 15% they don't like it. The other measurement some of them look at is debt-to-income. They take your gross monthly income divide it by two and then subtract your rent payment and all other outstanding consumer debt.

Sep 7, 2023 · Which according to 15% of your gross income, apparently that means you can afford this car on $40k a year lol. Honestly that seems low but to each his own. The only difference between making payments and paying in cash …

Replaced a car this week and car payments replaced most of the monthly allocation in the budget so it's still at ~9%. In 1990 when I was 21 years old I had a 1988 Mustang GT that cost $2,200/yr for insurance and $3,000 a year in payments. I had a 1hr commute (each way) so maybe $1,700/yr in gas. Maybe $200/yr in maintenance. I made $19,000/yr.

Dec 26, 2022 · Gross horsepower is what the engine makes without any accessories attached (water pump, alternator, etc.), whereas net horsepower measures the engine's power with the accessories included. While accessories will use some horsepower to operate, it's usually so minimal that you'll never notice.

Jan 9, 2024 · If you look at my net pay from my semi-monthly paychecks, I receive about $5200 per month and look like I make a lot less than I actually do, which is $170k gross, $10,000 per month net (as a low estimate, assuming the stock market stays suppressed.)

Apr 26, 2022 · Is 6 figures in car sales the norm? EDIT: 25M, single, no kids. Currently in civil engineering with $78k salary in LCOL area (central texas). Seems like folks are making well over $100k in car sales (without needing a college degree). Considering switching industries.. 2nd EDIT: Got a raise to $95k base, with project bonuses could take me above ...

Jan 28, 2021 · That means you'd need only $3,786 in gross monthly income to qualify. If someone makes $3,500 gross a dealership could work with that by marking it up a little bit, so now you're talking about someone who takes home $3k or less with a $500+ car payment and a car worth 100% or more of their annual gross income. Sure, many of those loans are ...

Jun 19, 2021 · Well taken care of car-3-4 hours Gross car-6 hours Absolutely disgusting-6-8 I don't worry about being fast. I prefer to take my time and make sure everything is perfect. I'll do a full vehicle for $300cad including cut/polish/wax whether it takes 4 hours or 8 hours. I've had vehicles that took me 16 hours.

Last year I made $77.9k gross and this year, if we can keep our current track, I will make right around $80.7k gross. According to what a lot have said I should be getting paid a percentage on the gross profit or a percentage on the total net that would be going back to the owners pockets.