Quote (ozzyarmy3 @ Oct 22 2014 11:55am)
What? I can afford comfortably a 60k car note, I couldn't even touch a 90k.
Comfortably suggests $60,000 doesn't put a dent into your finances what so ever. The equivalent of someone who can afford a $20,000 car comfortably.
On a five year loan with $0 down and 1.9% financing, you are at $1,062.16 a month in payments. At $90,000, it's $1,593.23. Significant difference, but there's a very small "sweet zone" of people who can afford the $1000 a month easily but go broke for $1600. This is a simple way of doing it, usually you'd have a lot of money down on a car that expensive, so the difference is probably closer to $300 than $600 a month.
The average person needs to be making in the low six figures to be able to afford a brand new $60,000 car. To be able to afford it comfortably, you'll need to be making in the mid-100s I would think. If you can comfortably afford a $60,000 car, you can afford a $90,000 car. Maybe not comfortably, but you could handle the payments. For someone making enough to handle very large car payments, you're taking home a lot more than $600 in income you're not using. That money could go to a car $20,000 to $30,000 more expensive. I don't know anyone who makes enough to pay for that expensive a car comfortably yet is $600 a way from not being in good shape financially.