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hey whats up guys, im going thru all my options to find a way to get the s5

do u think if would be wise to take a car loan out so i can drop that on the down payment? im trying to get my monthly payments to be 300-400 a month

so in order for that to happen i would have to put about 20k down

is there anyway i can get a car loan and make the monthly payments for that like...100 dollars or something? and the 300-400 for the s5?

i dunno, i've never taken out a loan b4

someone help i need this s5, i've been having to many dreams about it
 

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I hate to be the bearer of bad news but IMHO given the situation that you presented maybe you should reconsider getting a $55K+ car such as the S5. This seems like too much financial juggling to get a car.

A general rule of thumb is that the total monthly car payment is < 8% - 10% of your gross monthly income on a 60 month finance plan. This is also assuming that the total monthly debt (mortgage, rent, CC, car, etc) is < 36%. The more you exceed this the more worries and nightmares you will have of someone taking the S5 away. Trust me dreams are better than nightmares!
 

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$300-400 a month with only 20K down?
Erm yea, sorry for the rude awakening, but that is going to continue to be a dream.

20K down for an 80-mth loan alone roughly gets you to:
$675/mth + taxes

And that's if you get a good interest rate 5% or less to boot. Good luck nonetheless.
 
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