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Reply to "How do so many young families have $80k SUVs?"
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[quote=Anonymous]People spend a lot on vehicles. 10-15% of income after taxes is recommended by a lot of financial advice websites. So if you make $300K around here (prob below average for mid 30s professional in lobbying, law, tech, etc) your car payments could be up to $2625 a month. I personally think that’s INSANE but I’ve come to realize a lot of people in the DC area spend as much as they can afford (eg they’ll go for the max 28% DTI mortgage ratio, max car payment, etc). [/quote]
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