Millennial Wants to Buy a $40,000 Car 🤨 | Millennial Real Life Budget Review Ep. 11
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- čas přidán 8. 09. 2024
- Is it possible that this millennial can save for a $40k car with all of her other expenses? Here's what I have to say about it.
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My husband and I have separate accounts but we look at and discuss things weekly, sometimes more 😅 We have the same goals and constantly work together toward them, we will exchange between accounts as needed. We kept things this way because it’s such a pain to change the set up of things and like the way we work together already. We have access to each others accounts so it doesn’t feel separate to us.
We do the same in our household and everything is perfect the way it is.
Having cash in hand is actually not a negotiation tool when buying a car. Dealers want you to finance so they can make more money off of you. So never tell them you are paying cash up front!
She maybe looked at a hybrid model, which is about $40,000 in Canadian money. The conversion from Canadian to US is 1.337707 International Currency Exchange Rate.
She doesn’t need a new car. She has at least a good 100k miles.
40k for a Camry? what is the world coming to
High end trim prob plus its canada so calculate exchange rate?
Combining finances was the smartest thing me and my husband did. We have paid off multiple credit cards, paid off a car, and are possibly buying a house by the end of the year. Both of our credit scores has sky-rocketed since combining.
In Canada, Tangerine and Simplii offer free banking and often have good special interest rates on their savings and TFSA accounts. I’ve seen them go from 4-6% in the last few years. Especially good deals for new customers.
The focus likely has another 30-60k miles that it will be good for which would be about 2-4 years. If you're going to buy a camry, get a Toyota certified used from a dealer that has under 40k miles on it. In my area they are about 28k usd. The certified used gets you a 100k mile warranty for any issues that may arise. 2021-now are all the 8th generation and are nearly identical. Don't limit yourself to the year (unless there are known mechanical issues about the earlier years of the generation). Buying a new car is the easiest way to burn your money. The 40k will drop to 37k as soon as you sign the paperwork. After a year it will be worth 34k, two years 30k, and so on. Side note, learn how to change your own oil and stop taking it to the dealership to get it done. You need a set of ramps, a socket set, an oil filter clamp, a oil pan, the oil, and a filter. Once you buy the set up, it's max $60 a change and an half an hour of work.
Citizens access high yield savings is 4.5 pay!! Just moved my money from capital one
That mortgage payment for her half seems high. She may have the full mortgage payment and her hubby is covering other expenses.
No, rent in Toronto is not 1400 lol. $2800 is not unreasonable
Lol, mortgages in my area are upwards of $4k right now. $1.4k is definitely reasonable for half.
A few things you forgot about the Camry 1. They’re looking in CAD, not USD. 2. List price is not out the door price. Think taxes fees and registration. I hope it’s 40k CAD all in but I doubt it, all their fees they’re probably looking at 46-48k CAD
Ally just increase APY for the savings account from 3.75 to 3.85. Love this high interest rates + the downward pressure it puts on the bubble that is the housing market.
What a time to be a saver 😃
Wealthfront is paying 4.55% on HY checking accounts.
@@oregonflatland Yea, but those banks dont have the greatest reputation when it comes to customer service. So be cautious, if its hard to take my money out of those banks i dont use them no matter the interest.
PNC has 4.5% savings accounts
Why can't she get a second or 3rd car?