Joe-Bob wants to buy a car and will need to take out a loan in order to make the purchase. His current monthly income is $3,500 per month. His mortgage payment is $900 per month, and his student loan payment is $350 per month.

According to the affordability formulas given, can he afford to take out another loan?

When should he follow the affordability formulas? In what cases should he not?

How could taking out the car loan impact his other priorities?

I know i need to use the debt to income ration I just need help answering these questions correctly. I don't know in what cases he should not use this affordability formula?