Can I afford a Raptor?

[Tom]

If you have kids, don't forget about the college fund. They'll need it one day.

 

[frostedrob]

In the end, it all comes down to you, My wife and I combined don't even gross that much, but we got one and have been paying it off fairly well while still paying off just as much on our other car loan. only downside is until the other car's paid off, our budget had been tight, but thankfully we've only got like 3 more months

 

[mike.s]

Do you already have a house? If you do, I would say go for it! If not, I think now is a good time to consider buying a house.

 

[Tasty Rod]

Do you already have a house? If you do, I would say go for it! If not, I think now is a good time to consider buying a house.

Now wouldnt be a good time bc if he's had a major inome jump they will want to see history maybe 2 years depending how different the job is. If its in the same industry they will still take the average of his tax returns to figure his debt to income ratio using the two year average.

Guess what I'm Sayn is that the new job won't equal an easier loan approval bc the new income won't be a huge factor until he's had it for at least two years.
I know this is true for FHA loans which require the least money down. 3%

Either way good luck bro

 

[mike.s]

The loan approval process may be more difficult but prices on houses are pretty good right now.

 

[f16YODA]

Are you up here in Alaska? There was a used 2011 for sale here in Fairbanks just about 2 weeks ago. Just sayin'...

 

[cowtownraptor]

Sounds like what I went through the past year to assess if I could afford one. Our income is comparable so I'll share my thought process.

It was difficult to be patent, cause the raptor is pretty awesome.

Things I needed to make sure of before I bought
-high interest loans paid off (credit card, student loans. Etc...)
-make sure you have enough in accessible funds that if an emergency arises that may take a whole pay cheque that you will not miss any of your payment (everything, not just car loan)
-make sure you have a plan for savings

one thing you have that will help a lot is that you stay in camp. I stay on camp Monday-Fridays and don't spend a penny. my costs are only on weekend when I go home .

I targeted <40% of my income for bills, mortgage and car loan.

This was my thought process and after about 9 months of getting things in order I picked up mine a month ago.

Congrats on the job. The truck is definitely worth it.

 

[Gunner75]

Go to this page and drool.
Ford Raptor Photos & Videos - FORD RAPTOR FORUM - Ford SVT Raptor Forums - Ford Raptor

Save up $3,000 cash for products such as Rigid, Roush, etc, etc, plus a couple of the venders here, then maybe another $2,000 or so.

Save up $3,000 more for dealings at the dealer so you feel better about paying too much (unless you go through Randy)

Know that it will get about 12mpg if driven moderate.

Buy it. Enjoy it.

***Give your tax man the finger when you are bitching about taxes on earnings the following year when they comment on how you make too much money.

 

[Boo_gee]

You guys are awesome haha.
Thank you all for even taking the time
To give me your opinions.

I will talk to the dealer and when I finalize things I will post pics of the baby !!