I recently graduated college and got an okay job making 52K a year (Entry-Level) approximately $2000 gross bi-weekly. The position is about 30 minutes away. I currently own a 99 Honda Civic that I bought when I was 18 and needless to say it is on its way out and I know my new commute won't help.
I have no debt, about 10k in savings, I will be putting 10% of my salary to my 401k, and I still live home (hoping to move out in a year or two).
I am not sure how much car I can afford. After taxes and 401k, I am estimating I will have $1,300 take home pay.
I was hoping to get a truck but they are way too expensive, so I am looking at SUVs now. So far, a Subaru Forester seems the likely candidate (reliable, good mpg ect.)
The question is can I afford a $20,000 price tag with 5k down?
I was hoping someone who has been in a similar position can give me a bit of advice.
EDIT: Thanks everybody. This is the best subreddit on this site. I am going to ride the wheels off my car and save a bit more and try to buy something cash.
Submitted February 20, 2018 at 11:32AM by pinnochionipple http://ift.tt/2FhfA4E
