general question

**J.Apple902** · 05-01-2012, 12:39 PM

In order for someone to appropriately answer that question they would need much much more information.

Whats your annual gross income? Your net after all expenses. What else are you saving for? What savings do you have to date?

$85,000 car seems excessive unless you have enough money so that you need not think about it at all.

**BuckyBadger** · 05-01-2012, 02:25 PM

Is this a trick question? 85,000/(12*5) = $1416.67 per month.

But if you can't do this math you might have trouble saving up that much money.

**J.Apple902** · 05-01-2012, 02:42 PM

Yeah I agree, it doesn't seem like a $85k car is for you

**bennkar** · 05-01-2012, 04:09 PM

Originally posted by Deherd View Post

How much do i need to save over the next five years for a car that cost $85,000?

Since you aren't stating a time period but just how much you need to save, I think the answer to the question is $85,000.

**ecoadapt** · 05-01-2012, 04:11 PM

Originally posted by BuckyBadger View Post

Is this a trick question? 85,000/(12*5) = $1416.67 per month.

But if you can't do this math you might have trouble saving up that much money.

I believe it's just a little Math there. But I think it's really difficult for you to save such amount. Of course, you can prove me wrong.

**disneysteve** · 05-01-2012, 07:28 PM

Originally posted by ecoadapt View Post

I think it's really difficult for you to save such amount.

Why do you say that? We have no idea how much OP earns. If he is considering an 85K car, hopefully he earns well north of 200K/year.

**DebbieL** · 05-02-2012, 01:53 PM

Originally posted by disneysteve View Post

Why do you say that? We have no idea how much OP earns. If he is considering an 85K car, hopefully he earns well north of 200K/year.

I don't think many people earning in that neighbourhood would have to come and ask such a vague question with no details about their situation whatsoever. How much do you have to save for an $85,000 car? Well, my answer is $85,000. What's the real question here?

**bjl584** · 05-03-2012, 05:51 AM

Originally posted by Deherd View Post

How much do i need to save over the next five years for a car that cost $85,000?

How much do you earn?

Ideally, pay cash for the car, but if you want to finance, then take out a loan for no more than 36 months with a monthly payment that represents no more than 10% of your monthly take home pay.

general question