How much can you afford to pay for a car, whether it is a Challenger or any other car? Ask yourself, "How much money did I make in the last three months?" Whatever number that is, that is how much you can afford to pay for a car. If a Challenger costs more than that, then you can't afford a Challenger. This applies to everybody and every car purchase. Don't finance for over three years, and if you follow this guide, you won't pay more than 10% of your income for a car. If you pay more than that, you are being a fool and are destined for poverty because you haven't got your priorities right. And for any car costing over 50,000 dollars, if you can't afford to pay cash, you can't afford it at all. A fool and his money are soon parted. "Better to meet a she bear deprived of her cubs than a fool in his folley." Proverbs

 

so to afford a 2008 challenger according to you one would have to make $160,000 a year don't know to many people who make that kinda money

 

i think mikesan has the best idea. for myself the cost is not an object.. i just dont like to waste money. But i remember back in 1991 i was able to buy a 1988 vette that had been repossessed for $10k. That was a smokin hot deal considering the original list price was $31k. I found the car in an ad in the san jose mercury news by a company that only sold repo cars. I am sure now days there are sites on the internet that sell repo cars. And yes for those of you who are old enough to remember 1991 i was 25 years young.

 

I gradutated high school in `91...on ehelluva good year...from what I can kinda remember...

 

so i am not the only old fart in here....yes 91 was a great year... if i only knew then what i know now. but then again life gets better every year.

 

Yeeeeah. . . . not too sure about that formula for how much car you can afford. According to that I can afford a $5,000 car. I'd say the average person drives a car that costs about 20,000. That would mean they make 80k a year? So apparently someone making 80k a year who buys a 30,000 dollar car is "destined for poverty". . . If that's poverty I'd like to know what I'm considered! Gum on a hobo's shoe?

 

Hee,hee,hee...'91. I graduated in 1974, was in 8th grade for first Challenger on the roads. In high school we'd cruise Telegraph Rd. and Woodward Ave. here in Detroit...the real deal. drove my used 72 (B5 blue) in college

Did we have, or should we have an age poll for the forum?

Salary to afford is relative, the guidelines posted would let you meet responsibilities, and I'd figure there are similar percentages of income for other spending categories. Thus the incentives of the free enterprise system.
Steve

 

Age poll:

https://dodgechallenger.com/forums/m...e/tm.htm#10603

 

Talk about the real deal... the movie american graffiti was about the town i was born in and still live in... good old modesto calif... george lucas who created american graffiti went to high school with my aunt, uncle, and dad at modesto high and of course my realitives swear that some of the characters in the movie are about them. So cruising down McHenry Ave and "J" street was the thing to do here on fri/sat nights. Ahhhh the good old days.

 

i remember as recently as the mid 90s, having a cop give me a stern lecture, having witnessed me street racing...until every kid with an economy car with a spoiler and fart can was trying to race...so now they lock you up.

as for that equation to figure out "how much you should spend", that three month rule is out of touch with average people. consider that someone who makes 120,000 a year makes around 10,000 a month...30,000 over three months...so someone who makes 120,000 a year should buy a mustang? or a magnum? i think not. when i got out of college, i bought my stratus RT, with a sticker around 25,000...i was making around 40k a year then, and i had no problem making my payments of 450 a month. its nice not having payments, but the 7 cars that i have are getting boring..its time for a new one, and i hope that i can wait until 2009..[&:]