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Let's do some math.
Assuming $2400 is post-tax
Minus 20% saving (let's say 10% 401K and 10% your investment of choice) = $1920
Minus rent and food = $1920 - 700 -300 = $920
Minus insurance = ~$200 = $720
Ok, so, can you get a monthly payment of $500 for 60/72 months with a reasonable credit score? I would say Yes!
Is it risky? YES! You can afford it but it leaves you only ~$200 or ~300 per month in the black.
I go by the credo "live life by the day" as long as you can afford it because no one can predict tomorrow.
That made me fly to NJ and drive back 600 miles just so that I could have this car right now and not wait till Oct. 2013.
But make sure you think long and hard whether you have saved enough for a rainy day and eventualities.
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