Welcome Guest ( Log In | Register )

 
Reply to this topicStart new topic
Personal Finance - Can I afford a new Lexus?
Guest_MMG News_*
post Feb 25 2010, 07:53 AM
Post #1





Guests






Question: I'm 29 years old, earn $75,000 a year and have $130,000 in my 401(k), $5,000 in a Roth IRA and $50,000 in a savings account for emergencies. I save roughly 15% of my salary each year for retirement. I currently drive a seven-year-old Honda that's fully paid off, but I've been thinking buying about a new Lexus that would cost $43,000. I'm not sure I can afford it, though. I would put $15,000 down, which I have in separate savings, and finance the rest with a three-year loan. But that would leave me with a rather high monthly payment, so I'm wondering if I'd be better off saving more for a larger down payment or taking out a five-year loan instead. What do you recommend? --Y.S., Philadelphia, Pennsylvania

http://rss.cnn.com/~r/rss/money_pf/~3/FyiS79Ivy_4/index.htm
Go to the top of the page
 
+Quote Post
Paid Advertisement
 
Go to the top of the page
 

Reply to this topicStart new topic
1 User(s) are reading this topic (1 Guests and 0 Anonymous Users)
0 Members:

 

Skin designed by IPB Forum Skins

FEATURED AD - NEW STATIC AD



Advertise on MMG Today!


Advertisement








Message Boards and Forums Directory