How much should you make to drive a G Wagon? Lmk which car to do next! #gwagon #personalfinance
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0:00 – Start Here
So no G Wagon for me then
Guess not for us at this time.
These rules don’t make sense above a certain point. If you’re making over $200,000 a year you shouldn’t be financing vehicles. I mean, everyone should try to avoid car loans at any income level, but if you’re making $400k/year and you have an auto loan you shouldn’t be embarrassed.
XAI21S and ETH together? Bro, this combo feels unstoppable. 15x is just the start 🚀
Now do a slightly used 2002 Toyota Camry
I only make 50K per year, but I live with my mom and have no expenses, so I think I can manage.
I’m ok taking the bus 🚌
Why 10%? What if it was 30%? Would that mean the person would go broke or has he/she less money to spend on other unnecessary things
It’s to fight the depreciation of the car value
The monthly payment alone without gas, maintance or insurance is higher than my monthly income…🤯
$391 is the average car owners insurance payment. Not a G wagon owner
Yup!
No way insurance for that thing is that low, unless the only thing you have on there is roadside assistance for almost $400 a month.
Working my way backward I can’t afford my legs to carry me 😅
My neighbour, few doors down has an older one but it looks super nice and shiny 🙂 he must be doing well!!
Hi Humphrey. I seem to recall that because the G Wagon is over a certain weight threshold, there’s a tax benefit that factors into the economics. Is that right?
Is this before or after tax?
Do you really like that car???
Weird calculation when it doesn’t factor in any other expenses like housing, etc
I think i can afford it as a Walmart employee 😂
My wife and I make more than that, but we would never buy something like that. Cars are depreciating assets. Just because some people have high income doesn’t me we spend lavishly. Smart one put money to work, to make even more money.
I wouldn’t drive one because I’m straight.
G wagon is a luxury vehicle so using the money guy method you need to pay it off in a year in cash