I havent purchased one yet, but this is what i'm looking at:
- monthly car payment ~ $380 / 60 Months (3.99%)
- monthly insurance payment ~ $100(base) $124(touring)
- how much per month on gas? ~ $300 (100mi round trip commute to work)
- what was your down payment? ~ $8-9k
Also looking at a used for around $27k
I couldnt imagine financing a car for 6yrs, 5 is even pushing it for me.
Also, I need to stay around $300-400mo... not that i cant afford more but thats alot to spend a month on a car(i know, i know, its not just any car). I'm just more cautious when it comes to monthly expenses, plus i dont want to be "car broke" and i like to go out.
I'm bringing home around $3,500mo net. , 28yrs old, single, with minimum monthly bills for now.
Hope that helps put it into perspective...
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