4x4ord wrote:
I read some financial guru claim that you shouldn't spend more than 10% of your annual income or 5% of your net worth on a vehicle. If he was right you'd have to make $700k per year or have a net worth of $1,400,000 before you should purchase a new $70k truck. I think he is full of poo. A retired person with a net worth of $1,400,000 might not feel he can afford a $70k truck but something is wrong if a person making $700k annually isn't able to afford a new diesel pick up.
was that the full price or the payment?
10k / month earned = 1k truck payment.
