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amanhasnoname54 OP t1_jaelyow wrote

Reply to comment by cattledogcatnip in How much should I spend on a car payment given my financial situation? by amanhasnoname54

Rent is around $2000, and I have about $14,000 set aside in an emergency bank account.

Would you mind elaborating on the dangers of 6 year car loans? My interest rate is fixed.

As for the Camry, it had 300,000 miles on it. I have to take several cross-country drives a year to visit family so that was the main reason I felt it was time to upgrade.

As for the depreciation, yes I agree. However, I'd argue that well-kept Civics tend to depreciate less than most cars.

Either way, I'm happy with the car so yes, the title was rather badly worded.

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ElstoTD t1_jaeoblw wrote

First step is the emergency fund, which is done. Do you contribute to your retirement at all? Any house buying in the near future that you would need to continue saving for?

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atlantadessertsindex t1_jaenl10 wrote

You’re going to wind up paying $31,500 for the car once it’s all said and done. You could have gotten a cheaper car. Like others have said, it is what it is. You can probably afford it but you could have spent less and probably been just as happy.

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