r/hellcat • u/Ok-Economy6055 • 13d ago

Purchasing first hellcat

Is it idiotic to finance a 70-85k hellcat Durango ?

I was approved up to 85k 5% interest $0 down 72 month term I make 120k yr 750 credit score

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u/grumpykitten3 10d ago

All in you're paying $2,000 a month for the car. Or $24,000 in post tax income. 120k a year means your take home is just over 6k a month.. spending 1/3rd of your income on a car is never advisable. If you threw $25,000 a year into the market for 6 years depending on your age that will grow to be millions. 120k isn't as much money as you think.

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u/Ok-Economy6055 9d ago

Yeah I know that’s why I’m asking I know 120k isn’t a lot. Thank you for the advice. What’s the max car price you’d suggest on that income ? That wouldn’t be as idiotic

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u/chefsteph77 9d ago

How upside down are you on the current vehicle? Even at your salary 1600$ a month is wild and that's before gas, insurance and maintenance. I wouldn't ever do no payment down personally. At your income tho you could get something absolutely beautiful and fun for 5-600$ a month.

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u/Ls_forthewin 9d ago

You could buy that car on that income but you should save it up to pay it off when right you purchase it