Hello everyone,
The obligatory "long time lurker first time poster".
I've been thinking recently to trading my car in to get a luxury car and was wondering if I could get some advice. My current car is completely paid off and worth approximately 9000$, where as the car I am looking to buy with tax would work out to be 23000$.
The thing is I am looking to buy a house soon and don't know if it would be the wisest idea to buy it. My salary is 54000 with raises coming shortly. I have 26000 in RRSP's which I would be using some of that for half a down payment on a house (other half coming from my SO). 15000 in TFSA'S and about 5000 in cash. I have no debts and my monthly expenditures are low (~700/mth). Btw I'm 24 years old.
The only reason I'm hesitant is I've never really owed money before and if I buy this car I would owe around 10000 and that seems scary to me. Also it would need to be my daily driver and driving it in the Canadian winters seems daunting because I haven't owned something this nice before.
Any advice would be welcomed.
Submitted August 19, 2017 at 02:22AM by olneyone1 http://ift.tt/2v0oT2K
