Fun fact: 90% of people take out loans they can't afford for new cars, or they waste their money and lease them.
I take pride in my 12 year old piece of shit Toyota because the car payment is free 99.
I've already decided I'm not going to take out a loan or lease. I've been saving up for my down payment. I'm just not sure how much I should save before making the plunge. I've never bought a car before. :u
You should only be spending 10% of your gross annual income if you want to be finacially responsible, 20% is fine but pushing it. So if you make 50K, you should only spend $5K-$10K, i.e. a used, 5-10 year old econo box.
Most people don't want to hear this. Most people want to buy a new flashy sports car. Most people are in debt.
>_> I can't get a new car for 10k. I don't mind having a car payment, I just don't want it to be exorbitant. ---