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Maddmaxx297 t1_ja5l7h3 wrote

How can someone who is considered poor or moderate afford 40k down

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WaitForItTheMongols t1_ja6a1mk wrote

I make 40k a year (so well under the limit) (and have never had a higher paying job) and have 70k of savings in the bank. I put away about $10k a year. I'm sure there are other folks like me who live frugally on low salaries and can therefore afford to pay using accumulated savings.

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someoneyoudontknow0 t1_ja8l1k8 wrote

That was me for a number of years! Then I got a car. 🫠

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WaitForItTheMongols t1_ja8pg0a wrote

Exactly. Cars are an absolute budget killer.

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someoneyoudontknow0 t1_ja9ksjq wrote

Agreed. Far more than I expected. I love having those wheels though. It allows me a lot of flexibility I didn’t have before

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blackdynomitesnewbag t1_ja5ugrn wrote

There are assistance programs that could cover that with a zero percent assistance loan.

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TheSausageKing t1_ja61r9o wrote

You don't have to be poor. You can have savings. You just need to be under the income threshold. It could be a family where both parents used to work and then they went down to 1 income, a divorced parent with kids, etc.

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