I am dreaming of purchasing an Equinox EV in the Spring of '24. It's a long shot that I will get financed. GM is saying that the Equinox will cost "around $30K" so I am thinking that this is sneaky way of saying that it will cost about $33K. I have $8,900 saved and I will be adding $600 to it every month for about another 17 months which will amount to around $19K, $17K for a down payment in the Summer of '24. I have to find a way of overcoming my low SSA income of $1,212. Actually it will be a tad more due to the COLA. My FICO score is 780. I have $23,000 of credit that stays below 5% utilization. My bills are very low, my $245 rent is my main bill, the others are luxuries that I can easily cut, like $24 car wash subscription, and streaming services. I calculated what I might have to pay for insurance and car note and it is less than the $600 that I have been saving every month. I don't have a co-signer so I am trying to get large enough down payment to lower the amount of money that I will need to borrow in order to lower my DTI after the loan. If anyone has "Nice" advice, please let me know. I am emotional so please don't say harshly worded things. I am allergic to sugar too so please just be respectful.
I cannot do that, I would have already bought an EV. There is one way that I can think of of which I don't really want to but I will if it gets there. Keep saving until they say, "OK!".
If the Equinox EV actually costs less than $35K (including onerous dealer markups), you might find yourself in such a long queue that your current savings plan will have the vehicle paid for (or close to it) by the time yours arrives.
