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Being fiscally responsible isn't necessarily fun... (long)
Posted by Timmy (more from Timmy) on Wed, 18 Jul 2001 11:17:12
In Reply to: Others on this BB who were could barely afford their Saab?, Atul, Tue, 17 Jul 2001 23:33:11
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Financial planners say you shouldn't spend more than 20% of your salary on non-mortgage debt. Assuming one finances 90% of their car purchase, one needs to make at least $108,000 to buy a base 9-3. That's (24,000 * 0.9) / 0.20. A 9-5 Aero requires a salary of around $180,000 using the same calculation. It's pretty safe to say, I'll never buy a new Saab. However, on the bright side, used Saabs are inexpensive. In my 16 years of driving, I've developed a taste for 4 cylinder, front-wheel drive hatchbacks. We all know why -- fuel economy, inclement weather handling, and utility. The Saab adds something else -- it's comfortable, safe, and fun to drive. I can barely afford a new base Saturn, but they're uncomfortable and not fun to drive at all. Plus, there's no hatchback, and they're not as safe. With a used Saab, I can buy what I want and still be fiscally responsible. Even if I splurged for a new one, I'd probably keep it for 10 or more years and come out ahead in the end.
Tim
'89 900T, 107K
Posts in this Thread:
- Others on this BB who were could barely afford their Saab?, Atul, Tue, 17 Jul 2001 23:33:11
- 1. SAABitis is incurable 2. Financial aid slushfund...., Dan W, Wed, 18 Jul 2001 17:17:43
- Re: Others on this BB who were could barely afford their Saab?, Bill H., Wed, 18 Jul 2001 16:30:50
- Good input, Atul, Wed, 18 Jul 2001 15:38:38
- it's not rational. You're not alone., jp, Wed, 18 Jul 2001 13:19:22
- Being fiscally responsible isn't necessarily fun... (long), Timmy, Wed, 18 Jul 2001 11:17:12 <-- Viewing This Message
- Hmm - - one should do what they feel comfortable with . ., Dave Kovacs, Wed, 18 Jul 2001 10:11:26
- I hear you, maintaining my car has become my only luxury>>>, LSaab, Wed, 18 Jul 2001 10:04:34
- I think different people have different strategies...., REM in Seattle , Wed, 18 Jul 2001 09:47:09
- yes - tough on the budget!, MJM , Wed, 18 Jul 2001 08:57:28
- Think about it....., Dave Westlake, Wed, 18 Jul 2001 08:55:05
- Dont complain yours is only 4 years old, Tom, Wed, 18 Jul 2001 08:41:42
- Depends on perspective and priority..., Bryce, Wed, 18 Jul 2001 07:42:36
- Re: Others on this BB who were could barely afford their Saab?, Scott Paterson , Wed, 18 Jul 2001 01:30:37
- Re: Others on this BB who were could barely afford their Saab?, David Hanley, Wed, 18 Jul 2001 01:07:47
- Re: Others on this BB who were could barely afford their Saab?, EGD , Tue, 17 Jul 2001 23:48:26
- Please delete the word "were" from the above. N/Mf, Atul, Tue, 17 Jul 2001 23:34:00
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