- How do people afford expensive cars?
- How much money should you have before buying a Lamborghini?
- Whats a good budget for a car?
- What is the most I should spend on rent?
- Is 40k a lot for a car?
- Which car does Bill Gates drive?
- How can I get a fair price for a new car?
- How much should you spend on vehicle?
- What time of year is best to buy a car?
- What car can I afford with a 50000 salary?
- What is a good price to pay for a new car?
- How much do you need to make to buy a 100k car?
- What car do most millionaires drive?
- How much car can I afford for 300 a month?

## How do people afford expensive cars?

If you do finance, keep the terms at four years or less.

Banks and car dealerships keep on extending the terms of car loans.

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Or pick a card that doesn’t depreciate as fast.

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Luxury models cost significantly less when they’re used.

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Avoid extended warranties.

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Pick-up trucks and Japanese cars.

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Rare cars.

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Read more..

## How much money should you have before buying a Lamborghini?

However, since cars are a depreciating asset, the less you pay for a car, the better. But based on the less-than-half-your-salary rule, to buy a Lamborghini (without all the bells and whistles) you need to be making… $480,000 a year. You can buy a Lamborghini earning less of course.

## Whats a good budget for a car?

Whether you’re paying cash or financing, the purchase price of your car should be no more than 35% of your annual income. If you’re financing a car, the total monthly amount you spend on transportation—your car payment, gas, car insurance, and maintenance—should be no more than 10% of your gross monthly income.

## What is the most I should spend on rent?

30%A generally accepted answer is you should spend no more than 30% of your monthly gross income on rent. From that, you could deduce 20% is a sweet spot, 25% is still okay, and 30% should be your upper limit.

## Is 40k a lot for a car?

Yes, $40k by all means is expensive. Considering the per capita income in USA is $51.5K and in Canada its $50k, its above 80% of average income for most of the people. … In US, generally $50–60k range is where you’ll get good luxury cars.

## Which car does Bill Gates drive?

Gates has two Mercedes’ in his garage, an S Class and a 500SL, both of which are luxury, high end cars.

## How can I get a fair price for a new car?

How to Negotiate a New Car Price EffectivelySet the Ground Rules. Rather than be drawn into a discussion on the salesperson’s terms, let him or her know: … Down to Brass Tacks. Start the negotiations with your precalculated low offer. … Hold Your Ground. A salesperson’s initial reaction might be dismissive. … Know When to Walk. … Know When to Say Yes. … Time to Talk Trade-In.

## How much should you spend on vehicle?

Monthly payments should be less than 10-15% of your take-home pay (after taxes) I used the neuvoo income tax calculator to figure out that a $50,000 salary means you take home $38,869. If we calculate 15% of that take-home pay, we end up at $5,830.35 or car payments of $485.86 per month.

## What time of year is best to buy a car?

Looking for a deal on a new car? The absolute best time to buy is December, but you can save big other times too.

## What car can I afford with a 50000 salary?

Dave Ramsey takes a balance sheet approach. Rather than looking at monthly transportation costs, Dave recommends buying cars that cost no more than 50% of your annual income. So if you make $50,000 a year, you should not spend more than $25,000 for a car(s).

## What is a good price to pay for a new car?

Sticker price of new car. The goal is to not pay more than 5% profit for your new car. Using 3% first will give you a little “wiggle room” to negotiate with the dealer.

## How much do you need to make to buy a 100k car?

At an interest rate of 3.33%/year and with a loan term of 4 years, one will need to make monthly loan payments totaling $1,782.44. Assuming loan payments account for 60% of a car’s monthly expenses, in order to afford a $100K car, one will need to gross $29,707.33/month ($1,782.44 / 10% / 60%) or $356,488/year.

## What car do most millionaires drive?

The Ford F-150 pickup truck, the Jeep Grand Cherokee, the Jeep Wrangler, the Honda Civic, the Honda Pilot and several Land Rover models are among the most highly-favored mainstream vehicles owned by the super-rich.

## How much car can I afford for 300 a month?

Calculate the car payment you can afford NerdWallet recommends spending no more than 10% of your take-home pay on your monthly auto loan payment. So if your after-tax pay each month is $3,000, you could afford a $300 car payment.