Sears Results: Loss of $1.29 a Share, $8.45 Billion Revenue vs. Expectations of 60-Cent Loss, $8.37 Billion Revenue
The Suze Orman Show
Quiz: Quiz: Can I Afford It?
Question 1 of 9
Anthony is 39 years old. His wife wants to buy a Maserati Quattroporte S for Christmas. He and his wife take home a combined income of $16,069 a month, and they also collect $1,250 a month in rental income. They have $7,174 in monthly expenses, a $238,000 mortgage, $85,000 in liquid savings, $460,000 in investments and $364,000 in retirement fund.The cost of the car is $126,000. Anthony intends to pay cash for a 10% down payment, and then finance the rest. Can he afford it?
- Approved
- Denied
Suze says: When you go to buy a $126,000 car, you'd better be able to write a check for it, because nobody should be buying a $126,000 car if they can't afford it. If you have to deplete all of your cash and go into your investments, and you're already almost 40 years of age, then you can't afford it. Just because you want it doesn't mean you need it, and just because you want it or need it doesn't mean you can afford it.
