(Canada) With my present monetary state of affairs, is shopping for a used truck proper now a…

by akoloy

Is understanding of my present car (2010 Toyota Matrix) potential? Yes, however a truck would supply high quality of life upgrades.

I’m a plumber proper now and I make $3,600 a month earlier than taxes and can enhance yearly(Currently, I make investments most of my earnings into VGRO, however will cut back to finance the truck). I dwell with my mother and father, so my solely month-to-month payments are -$55 for telephone payments, -$100 for gasoline, and -$50 for meals. I’ve $10,000 in my financial savings account proper now.

I at present drive a 2010 Toyota Matrix with 70km mileage. It has a resale worth of about $8,500-$10,000.

I’m planning to purchase a used Honda Ridgeline. After taking a look at what’s obtainable available on the market in the intervening time, I plan to spend round $35,000 on a used Ridgeline. I’ll make a down fee and finance the remaining. The truck could be primarily used for work and perhaps driving out of town on the weekends.

Given my monetary state of affairs, is shopping for a used truck a sensible monetary determination?

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