SCrewYou

i probably would, but im also an idiot.

JCR 56

No. Can't. I got this nasty addiction I have to support called eating. I have absolutely no desire for that kind of debt.

Eduskator

Lol no... Are you speaking gross or net pay? .33 of debt ratio should be related to your mortgage, and even this is considered high.

A McDonald's employee could buy a 50k pickup truck if he wanted... The softer the regulations around specific type of loans, the easier it is to get it. Vehicles are very easy to finance. The only reason why getting a mortgage is more difficult is because it could end up creating a financial hardship to the institutions since loans are higher and for a longer period of time, and there are (fortunately) tighter regulations around them... You guys lived that in 2008.

Ricktwuhk

36% is for a mortgage plus taxes and PMI. For a vehicle it's just stupid.

bisjoe

Mine is 5%, and is still the biggest vehicle payment I have ever had. I wouldn't ever consider going over about 10%.

user 83720

thanks everyone not doing it

rocky raccoon

Talk about sub-prime auto loans! You will have no leeway for any emergency and indeed may not even have enough to keep your fuel full. You can sit and look at your Dream Truck but can't afford to drive it. Grow Up.

Nitrodoc

Resist the urge and invest the money toward retirement because one day when you are nearing retirement age, you will be glad that you did.

kmlacroix

I buy a vehicle to serve a purpose. 1/3 of my pay is too much for a house, for me, never mind a vehicle.

kmlacroix

Smart. Now you can start saving towards it.