I just bought a brand new car for my wife since she needs one at home to transport the kid whenever I work out-of-town. Anyway Mrs. PFN will drive the 2009 Toyota Camry while I have my own Toyota FJ Cruiser. We plan to keep both vehicles for at least 10 years.
The following data is from credit report.
- Student loan: $29,905
- Car loan for 2007 Toyota FJ Cruiser: $8,415
- Car loan for 2009 Toyota Camry: $22,913 (Payment only starts after 6 months with the interest rate of 0% for 36 months)