Forum Discussion

ugh's avatar
ugh
Explorer
Apr 19, 2015

What % of income for monthly payment consider okay

We want to go camping again. Since the accident, we are now ready to go shopping again, but this time we are thinking about Class A instead of TT. That means it will have larger payment and longer ter...
kohai's avatar
kohai
Explorer
Apr 19, 2015
You can get to 5% with any vehicle by stretching out the number of years.

The unasked question is how much $ should you spend?

I've heard it said that the value of all of your vehicles/toys that have a motor shouldn't add up to more than 50% of your household annual income.

(I'm a cash for cars/toys person as well.)

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