Can you elaborate the 80/20 rule? Also I’ll post finances and let you crucify me if they are out of line.
28k in the bank. 2900 disposable income/month. Debt free and figuring Atleast 6 months before delivery so there’s another 17,400 set aside for dp,tax,title,etc. 790-800 fico. Roast me lol
The 80/20 rule…. Is the interesting way to live…. based off of reality and unbiased facts
Let me elaborate the 80/20 rule….
the taking-home income, which reflects your income after taxes is the 100%. a smart way to spend your revenue is to put the 20% of your take-home pay into savings. The remaining 80% goes toward your expenses.
Let’s take a look at the investment …
If the price tag on the hellcat after taxes is greater than the 20% per month. you are not financial stable to afford the car.
Let’s take a look at your finances….
Let’s put your numbers in perspective….
Savings -$28k- Availability- $22k
Income/Month-$3k - Availability- $2k
Projection- $17k - Availability- $13k
Impact- $8k - Availability- $8k
Term- 72 months
Loan Amount- $58k
72 Loan- $63k
Monthly Pay: $878.64
If your hellcat is $85k after taxes and the down payment is $27k… you will be dealing with a gap of $298/month aka impact// give or take you will be okay to afford the car. With this new market ***do NOT lease the hellcat.