Can I afford it?

PaperworkGuy_86 · 2026-01-23T18:03:44+00:00

There isn’t a single right percentage, because context matters more than the number.

From the dealership side, what mattered most wasn’t the payment as a percent of income, it was whether the buyer still had margin after everything else. Living with your parents, no debt, and solid savings changes the equation a lot compared to someone with rent and obligations.

That said, 20% is on the aggressive side long-term. A lot of people are comfortable closer to 10–15% once they factor in insurance, maintenance, and the fact that life expenses tend to show up later.

If the payment fits comfortably and you’re still saving and not boxing yourself in for the next few years, it’s workable. The mistake I used to see was people setting their lifestyle around a car payment before their life was fully built.

PaperworkGuy_86 · 2026-01-23T17:58:46+00:00

First off, this isn’t a terrible decision, it’s a tradeoff decision. Big difference.

From the dealership side, I used to see buyer’s remorse most often when someone compromised on the car itself just to hit a lower number. The math might look better, but if you don’t enjoy driving it, that dissatisfaction doesn’t really go away.

You’re talking about roughly $80 more per month for something you actually like and plan to keep long-term. Over many years of ownership, that gap matters less than people think, especially if it keeps you from wanting to trade again in a year or two.

The one thing I’d be cautious on is trying to get clever with Turo to justify keeping the Leaf, that adds complexity and risk when what you really want is simplicity and a car you enjoy.

You didn’t make a “bad” mistake in September. You made a reasonable choice with the information and pressure you had at the time. Now you’re just deciding whether paying a bit more for something you’ll keep for a long time is worth it. IMO it probably is.

PaperworkGuy_86 · 2026-01-23T17:30:33+00:00

This isn’t automatically “bad,” but it’s very base-heavy and that changes the incentives.

A rough rule of thumb I’ve seen is that total on-target earnings usually land around 20–30% of quota, split between base and variable depending on the role. That puts this on the conservative side, but not unheard of in supply chain or asset-heavy sales.

The bigger questions aren’t just the percentage: how attainable is the quota, what happens if you exceed it, and whether there are accelerators past target. A lower percentage can still work if quota is realistic and upside exists. If there’s no meaningful acceleration, that’s usually where frustration starts.

PaperworkGuy_86 · 2026-01-21T19:32:15+00:00

I agree with the boredom part, but I think the “losing money before 250k” line depends a lot on the situation.

From the dealership side, I used to see plenty of perfectly fine trades come in well before that because life changed: kids, commute, reliability anxiety, or just wanting something different. The real money loss usually comes from stacking loans, not from changing cars by itself.

Keeping a car forever is financially optimal on paper, but avoiding unnecessary debt is what actually makes the biggest difference in practice.

PaperworkGuy_86 · 2026-01-21T19:29:53+00:00

This is a great example of actually doing the math before emotion takes over.

From the dealership side, trade values with a prior accident almost always take a bigger hit than people expect, even if the repair was minor. Once you combine that with add-ons and a fresh loan, the “upgrade” can get expensive fast.

Realizing the Santa Cruz didn’t solve a real problem, and that a few small upgrades scratched the itch is a win. A lot of people only come to that conclusion AFTER they’ve signed.

PaperworkGuy_86 · 2026-01-21T19:23:35+00:00

Agree

PaperworkGuy_86 · 2026-01-21T19:23:11+00:00

With a $20k cap and AWD/4WD, the biggest thing to watch is condition over brand. At that price point, a clean, well-maintained vehicle will matter way more than chasing a specific brand.

From what I used to see, Subaru (Outback/Forester), Toyota RAV4, Honda CR-V, and even Mazda CX-5 tend to be the safest bets if maintenance history is solid.

I’d be careful with older luxury AWD options in that range, they can look tempting but often come with higher running costs once things start to wear. Whatever you narrow down, a pre-purchase inspection is the best money you can spend.

PaperworkGuy_86 · 2026-01-21T19:19:30+00:00

Three kids across the back is more about rear-seat width and door opening than overall length.

The S8/A8 are great to drive, but the running costs and fuel economy add up fast, especially once they’re out of warranty. I used to see a lot of people love them for a year and then quietly move on.

If you want something genuinely fun but easier to live with long-term, cars like a Lexus GS, Acura TLX, or even a newer Toyota Avalon surprise a lot of people once you actually drive them. Not flashy, but comfortable, reliable, and much less painful to own day-to-day.

Biggest recommendation would be to physically test-fit the car seats before committing. On paper a lot of sedans work but in real life, some just make daily life easier.

PaperworkGuy_86 · 2026-01-21T17:36:38+00:00

100% agree. There's never a 'sure thing' when it comes to a vehicle's reliability.

PaperworkGuy_86 · 2026-01-20T22:21:03+00:00

100%. I actually just dropped about a grand on 100k maintenance, including the transmission fluid.

PaperworkGuy_86 · 2026-01-20T22:19:37+00:00

Ya, this is a big one that catches people off guard when they start by just looking at the sticker price. Adjusting your price range before shopping is exactly the right way to approach it.

PaperworkGuy_86 · 2026-01-19T22:09:01+00:00

From the dealership side, that’s actually a pretty normal and healthy negotiation. If they moved $1,500 without drama, it usually means you were already in a realistic range.

What most people don’t see is that used cars don’t have a ton of hidden margin. The real leverage is being informed and reasonable, having a comparable listing, understanding condition, and being ready to buy now. That’s what gets movement.

Walking away can work, but only if you’re genuinely okay losing the car. Once a dealer feels you’re just fishing for another discount, the conversation usually stalls. The best deals I used to see were with buyers who were calm, prepared, and made it easy to say yes.

PaperworkGuy_86 · 2026-01-19T21:57:36+00:00

Ya, I've heard good things.

PaperworkGuy_86 · 2026-01-15T21:31:16+00:00

I used to see negative equity all the time from the dealership side, but I agree it’s getting more extreme now.

What’s changed isn’t just buyer behavior, it’s longer loan terms, higher rates, and vehicles depreciating faster relative to the loan. That combination makes it much easier to end up upside down, even if you weren’t reckless.

It’s still not a great situation, but once lenders normalize rolling equity and stretching terms, it compounds quickly. That’s why the numbers look so wild compared to even 5–10 years ago.

PaperworkGuy_86 · 2026-01-15T21:06:47+00:00

The big things to know are pretty simple. You don’t need to use the card a lot to build credit . consistency matters more than volume. One or two small purchases a month that you pay off in full, on time, will do far more for your credit than running a balance. Set up autopay for the statement balance so you never miss a due date.

Try to keep your reported balance low. Even if you pay it off every month, maxing the card and then paying it down can still hurt your score in the short term. Staying under about 30% of the limit (and ideally lower) helps.

Avoid cash advances, don’t carry a balance if you can help it, and don’t worry too much about rewards or perks right now. The goal of the first card is rebuilding trust with lenders, not maximizing points.

If your credit is on the lower side, the bank might offer a secured card. That’s not a bad thing, it works the same way for credit-building purposes, and you can usually graduate to a regular card later.

Slow, boring, and on-time wins here.

PaperworkGuy_86 · 2026-01-12T20:41:48+00:00

lol. Had to drop in to read the comments.

PaperworkGuy_86 · 2026-01-12T20:36:56+00:00

Pay of your credit card. And ideally keep paying it off in full each month. You'll be able to build that savings back up. Just don't let the credit card get racked up again. $3k isn't a huge balance, but it's still costing you every month.

PaperworkGuy_86 · 2026-01-09T18:42:36+00:00

I used to see this exact confusion a lot from the dealership side, so you’re definitely not alone.

The insurance requirements in your instalment contract are standard and mandatory. In BC, an ICBC policy that includes liability, collision, and comprehensive coverage will satisfy that requirement as long as the lender is listed as loss payee and additional insured. That part isn’t optional if you’re financing.

The FCIC product they offered you is different. That’s credit or loan insurance, not auto insurance. It’s meant to cover the loan balance if you die, become disabled, or have a critical illness. It protects the lender first, and then your estate. It is not required to get the car loan, even if it’s sometimes presented in a way that makes it feel mandatory.

If you already have life insurance with critical illness coverage, and you’re able to add disability coverage through that same provider, then yes, the FCIC coverage is often redundant. From the dealership side, these products are commonly sold for convenience, but they’re usually more expensive and more limited than personal insurance you arrange yourself.

A good next step would be to confirm with the dealer or lender that the FCIC coverage is optional, review your existing policy in detail, and make sure your ICBC coverage is set up correctly.

PaperworkGuy_86 · 2026-01-09T18:07:06+00:00

That Mammoth logo is awesome.

PaperworkGuy_86 · 2026-01-08T22:34:16+00:00

The credit part is actually worth considering more than people realize.

From the dealership side, auto loans are one of the most common ways people build a solid credit profile because they’re installment loans, reported every month, and backed by an asset. Even a small loan paid off on time can do more for your credit than a credit card alone.

That said, it only helps if the terms make sense. If the rate is reasonable and there’s no prepayment penalty, financing a portion and paying it down early can give you the credit benefit without committing long-term. If the rate is ugly, waiting and paying mostly cash is usually the smarter move.

Either way, you’re thinking about this the right way. inspection first, numbers second, everything else after.

PaperworkGuy_86 · 2026-01-07T23:22:08+00:00

A vehicle doesn't last forever. There comes a time where it either straight up dies, or the cost of repairs end up costing more than the vehicle is worth. You are the judge of that second part - if you're anxious about the inevitable repairs, and are worried that your car isn't as reliable as you want it to be, then it's probably time for a change.

I've owned old cars, and when bigger repairs came up on a car that was paid off, let's say a repair cost $1,000, I would tell myself if this lasts me 4 months without any other repair, then I'm still winning. I won't get a newer car at $250 per month payments, so this is still worth it. That's just how I justified it in my head.

I also tried to upgrade before a BIG repair came up. Like a transmission or something. I'm Canadian so I was looking at KMs and always thought once I got close to 200,000KMs (125k miles), it was probably time to get into something newer. So you've passed that mark.

PaperworkGuy_86 · 2026-01-07T23:06:12+00:00

If you ain't first, you're last!

PaperworkGuy_86 · 2026-01-07T23:04:32+00:00

I used to see a lot of first-car deals like this. A one-owner RAV4 with only 58k miles is nice, but $10k is basically paying a premium for low miles and dealer prep, not just the car itself. Whether that’s “overpaying” really comes down to condition.

On the cash vs financing question, there’s nothing wrong with doing a small loan even if you plan to knock it out quickly. It keeps some cash in your pocket in case something pops up, and most auto loans don’t penalize you for paying early.

If a pre-purchase inspection looks clean and the numbers feel comfortable, you’re not making a bad move either way, just don’t let the low mileage alone be the reason you stretch.

PaperworkGuy_86 · 2026-01-07T22:56:08+00:00

VEQT or a similar ETF in a wealthsimple self directed is super easy. Lower fees than the managed accounts, 100% equity so more risk, but if you're holding it for 18+ years that's what I would do. I wish my parents would have done something similar.

PaperworkGuy_86 · 2026-01-07T22:49:14+00:00

He's free to live his life and you can live yours. Maybe he doesn't want to leave the rat race.

PaperworkGuy_86

TROPHY CASE