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 How much salary to afford 260k car?

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xxbeyondxx
post Sep 4 2020, 03:15 PM

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I'm always curious why not use the Bank method of determining whether you can afford to purchase a car or not? Banks look at your net inflow with maximum commitment outflow of 70%.

xxbeyondxx
post Sep 4 2020, 03:32 PM

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QUOTE(9m2w @ Sep 4 2020, 03:21 PM)
Banks are only interested to know if you can service the loan period. Whereas its in your interest to consider if the excess cash is better spent on other forms of investment, children's education or an annual holiday. Things that dont appear in a spreadsheet. Hence why ppl open threads on this now and then in /k i guess
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Thanks, was a little confused cause there seems to be so many different numbers coming up for affordability.

 

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