Quote:
Originally Posted by I-Hate-Hulse
Define "afford it".
If it's about finding a way to squeeze a monthly car payment of X into monthly income of Y, then yes.
If it's about whether spending $40K for vehicle expense for the next 10 years or spending $75K (and having no monthly payments after 4 years when the vehicle is paid for) then no.
If he loses his job they have a month before they have to start selling RRSP's to survive. Given this, can they afford it? Technically yes, but the big picture answer is no.
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I'd say my definition would simply be could they make the purchase without potentially hurting themselves financially. So I definitely agree with your answer of no in this case.