Should I buy this car?
Hi guys! I’d really appreciate some advice.
I’m thinking about financing a used VW Golf(150 ps - driven 43.000km).
My plan is to make a down payment of 8000€ and then finance the car with 200€ a month for 4 years. Interest rate is at 2.99%. So at the end I would have an outstanding amount of around 4000€. I’m calculating that the total cost a month is 500€. (Insurance, tax fuel and so on)
My current savings are at around 25k. After all expenses I can still save 500 - 600€ a month.
Is this a smart decision? I’m unsure if I can actually afford this car and still accumulate savings over time.