What is your monthly payment? Please read.

I've always been told by mortgage advisors that the amount open isnt a hard number, but it MAY work against you if you're regularly below 20% usage. They see that as potential abuse of the open credit, but if you're maintaining 20% usage or so, they see you use it, but not abuse it.

 

probably to a point. They can definitely view you as risky if you have too much available credit but that limit probably varies based on income.

 

I learned every thing I know about credit from a TD mortgage guy. He helped me go from not being able to get a auto loan with a consigner to home mortgage and this loan for the truck, the wife and I got 1.8%.

 

Yup, thats how my wife and I are.

 

700$ truck payments. Holy fuck.

 

I've heard from most people that a good rule of thumb is To spend no more than 50% of your yearly income, so in your case: 80k means a 40k truck can be afforded.

 

You must live somewhere cheap. I make $25/hour working full-time (about $37k a year after taxes) and no way I could afford to spend $600/month on a truck payment. I mean, if I wanted to live paycheck to paycheck, not save any money or do anything fun I guess I could. Living in California 'aint cheap though.

 

you have to make 150k plus in the part of california i live in to feel comfortable. love this place though. surf and snowboard same day no problem if wanted. best outdoors state there is.

 

Please keep telling everyone that. Keeps the population down in the real Best Outdoor States

 

Where's that?

 

$700 truck payments? On a Tacoma? Are you fucking people out of your mind?

 

why are people so eager to move out and make things hard on themselves? If anything, it's smarter to live with your parents longer so you can save and have something to build a future off of.

 

Yes, thats what the payments are with little or no money down for 48-60mo?

 

Gotta have all the options or your penis is too small brah.

 

that's about what mine will be, $6k down on 5 years. Granted, the truck costs more in Canada

 

I have no idea what the exchange rate is or what income in Canada is... so I can't comment on that.

 

its not so much the exchange rate, as what the MSRP is up here. IIRC a TRDOR with no accessories (we don't have a tech package option) is $40,445

 

$0 Monthly

 

The monthly payment doesnt tell the whole story nor is it a big deal if you can easily pay it and some each month.. for instance my payments are $760/month but they could have been less than $300 had I worked it differently but I'd be out more in interest, paying it for longer and have built less credit doing so.

This post is in response to the people trippin about high payments.