$40,000 Budget

Car Purchase

The RunDown

With a budget of $40,000 a year, you arent going to be walking into a car dealership looking for the newest ride on the lot. Thats why I immediately started looking for used cars with decent mileage on them. My eyes were drawn to a classic 2001 Jeep Cherokee that was being sold in Lee Summit. I knew that I could afford it by using the equation (y=40,000*.x)

The Prices

Car Cost: $6,950

Per Year: $2,430.48

Per Month: $202.54

Insurance Monthly: $190.43

Gas Monthly: $121.50

The Process

When it all came down to it, the car was a perfect fit for my situation. Who can say no to a nice looking car that only costs them $121.50 a month in gas? To make the car an even better fit for me, I took out a three year loan at 2.74% which allowed me to take the payments out slowly every month. With the new cost of the car I was able to save almost two thousand dollars and fly low under my budget so I could put money towards other things like debts and food. Not a bad car for only $202.54 a month in my opinion, this car perfectly fits me and my budget!
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