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New member
Okay, so I'm buying a car. A new, 2008 Cadillac Escalade. The sticker price is $55,990. With tax, however, it is $59,349. The length of my loan is 36 months and my interest rate is 5.39%. I am a lawyer, and make $128,000 per year. My monthly income is 10,777 dollars. I can only spend 10 PERCENT of my monthly income on a car, and that ten percent is 1,077 dollars. So, from the information given, is this car affordable for me? In other words, is the amount I pay monthly 1,077 dollars, or less? Thanks sooo much!