Financial advice?

Question

How much should you have in savings to buy a 40k car outright without a loan? 
Edit: obviously you need the 40k but I’m assuming it wouldn’t be a great idea to use every dime you have on a car. So how much extra should you have saved for it financially to make sense.

Answer

I wouldn't buy a car for that much full out unless I had at least 120K myself. I fully belive in keeping our accounts at a certain point and would never spend that much on a car if it would half my savings.

Answer

A year's worth of living expense left over after buying the car.  I will also never buy a new car, the newst I bought was 2 years old.

Answer

...... 40k? Plus gst?

Answer

You should have an emergency fund saved with 3-6 months of expenses on top of that.

Answer

You should realistically be able to buy the car twice over meaning that if it’s 40k you should have an extra 40k in your account. Also I second buying a two year old car instead of brand new one as it depreciates as soon as you drive off the lot.

Answer

It depends on your lifestyle. Cost of car plus however much your usually comfortable with in savings lmao

Financial advice?

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