Reply to How much mortgage can we afford?

Forum Index » Money and Finances

Reply to "How much mortgage can we afford?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]When we had student loans from DH's law degree we bought a cheap townhouse in a gentrifying area, and we didn't have any car or consumer loans. We drove an old sedan until the student debt was paid off.

750k is insane. Look for a condo or townhouse where your PITI costs are as close to rent as possible.[/quote]

Agree that trying to reduce expenses with that much in loans is really important. $722 for a car lease sounds high, but I don't know when OP and her husband got their lease and if interest rates were already high. It would be a shame if they were driving around in a BMW and not paying off loans/funding retirement/funding 529s. [/quote]

Op here: it’s not a bmw, it’s a Toyota and we bought in 2021 because our 14 year old Camry ran into the ground. [/quote]

WTH?!?! why are you paying $722/month on a Toyota.  You have a family of 4.  Another Camry would work just fine or a Rav4.   You do not need/cannot afford a Highlander or more expensive at this point.  And why lease?   Buy a $35K vehicle and pay it off in 3 years then drive it into the ground for the next 10.  You can't really afford to live the fancy life until you pay off your student loans.  Do that and you will be financially sound.[/quote]

You haven't shopped for a car lately, huh?  Those payments multiply out to a $43k in five years.  Assuming there's at least a little interest on it, that's not much more than the $35k car you suggest.  It sure as hell isn't a Highlander.

I agree that OP's discipline and savings leave a lot to be desired.  But this criticism seems misplaced.  [/quote]

This is how people get in trouble.  They look at the payments vs. the overall cost.  That's very expensive for a RAV4.[/quote]

RAV4s are not cheap![/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics