However, taking into account any potential risks of losing part of your income within the boat financing period, we would rather take a maximum of 30% of disposable money (so $300), leaving a safe liquidity buffer for unexpected expenses. Having $1,000 disposable money per month technically allows you to take a loan with monthly payment up to that sum. Let us show it on the example using the boat loan calculator. If you have enough disposable money per month (after paying necessary things such as rent, bills, other debt liabilities, food, etc.) to cover monthly payments, the answer is yes. It depends on many variables, your other debt liabilities, and overall consumption tendency. Keep reading!Īs we are in the middle of an economic discussion about loans, let us answer the above question in the most economical way: "It depends". In the next section, we explain the second way of using this boat payment calculator. To see how much of the additional interest you need to pay, press the advanced mode button, placed directly under the boat calculator. In our example, we get the monthly payment equal to $75.48.
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