If you plan on moving out anytime soon, that lease payment will put a beating on your debt to income ratio. Maybe hold off on the G until the real estate market somewhat settles? Thats what I think I'm going to do, I am going to try to see if I can get a good deal on a G37S and an EX35 at the same time.

 

I nkow what it is like my parents first house cost them $30000 When i told them i was buying a $55000 car (that is the cost in canada) my dad need died. You should have seen his face when i told him my house was 500K

 

I was looking at the model and pricing, the MT comes with lot more than an AT does at same price. Is AT really that much more expensive?

 

It is normally about a $1000 more to have on most cars.

 

Are you keeping your FJ? If not, and you switch cars quicker than you expect, leasing might be a good idea...

 

why not call up suze orman and ask her. She will tell you, "you can't afford it"

 

haha.


I'm gonna put down about 20k in march but make a deposit right now so the paper gets rolling and I can get that 2.9% APR (available till the end of november). you can try to see if you qualify, I think you need credit score of 730+.....but I'm gonna work out a deal with Hussain so that my payment doesn't start till feb or march, which is when I'd get the car. when the time comes I'll put down 20k and finance the rest over 3 years at 2.9% APR. you can make an excel sheet and deduct all the expense you have each month (cellphone, rent, gas, food, girlfriend.....etc) from what you make after tax to see how much you can realistically save each month. use one of those online loan calculator to find the down payment you're comfortable with at the monthly payment that you want to dish out. then see how long it'll take you to save up that amount.

Also I calculated the car cost along with monthly gas (~200 bucks, my commute to work is about only 6 miles). after tax and fees, the G I want will be about 43-44k. dont' forget to take into account the new insurance cost too (~1350/year for me).

you can just down a few thousand too, but as you probably know, smaller down payment will cost you more interest overall. since you already have an idea how much you want to pay a month, that might be an issue for you.

I'd say just estimate the best you can and try to over-estimate. have enough too so that you won't be wiped out after the down payment, keep a few thousand handy.
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No, leasing is out of the question for me. I want to pay to OWN the car. And yes, I'm prepared to take a hit switching cars too soon.

 

Ya...I think I will pay off my student loan first as the interest on it is like 6.7%, should take 3-4 months only.