Quote:
Originally Posted by DanZilla
10% may be a bit too high for a new car unless you are young guy. Well depends on what down payment you put down as well.
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it was mainly to show that $20,000 itself is really pushing the limit as is. You could generalize a down payment/ trade in value average of ~4,000, but it doesn't shift the monthly payment downward very much. Thats why I think the base line model will be cheaper than most people think. If they go much higher than that then their target market can't really afford to buy their car.
Even if you calculate the downpayment, my estimated average yearly income (35k -40k) is a relatively fair assessment, probably well over the yearly income of most young enthusiasts.
Again, thats pricing estimates for the base model. I dont' expect the high powered version to be sub $25,000