- 39,330
- 19,774
- Joined
- Dec 3, 2009
Just bought a new car, negotiated $7635 off MSRP, down payment $28500 (includes cash I got for my previous car), and financed the rest 3% at 36mo $320/mo (had the cash but have non existant credit history, so...). I did A LOT of research to get the best deal I could on the car, and was patient in selling my car privately to get top dollar.
The most important info IMO is my down payment was a very strict percentage of my total liquid funds and my monthly payment was a very strict percentage of my monthly DISPOSABLE income. The percentages were different but neither exceeded 15%.
Basically, I set myself up so that I can recoup my out of pocket cash in about 6mo and monthly payments will not affect my lifestyle prior to buying the car. The car is also exactly what I wanted and I'll be happy with driving it for 6+ yrs.
Did something very similar web I bought my TL-S, putting 20k + as a down payment on a car is not smart no matter what your situation is bro, not coming at you, just speaking from experience.
I seriously found my middle ground with leasing
-no maintanence out of warranty worries
-no huge down payment
-good credit no problem
-new car every 3 years, no attachment responsibilities.