whats the most i should downpay on a car as a "reasonable salary" earner (50-75k)
i always hear 5k is the best you wanna do but im unsure, car value within 25-30k is ideal for new

>>60505695 (OP)
https://youtu.be/oIiBOauHjpI

>>60505695 (OP)
>down payment
do you have bad credit or something?

>>60505695 (OP)
The correct answer is 20-30% of principal.

>>60505695 (OP)
these eggs is tight TIGHT

you should not spend more than 5% your net worth to purchase a vehicle.

>>60505695 (OP)
just buy a used car faggot, with your 5k you're halfway there as opposed to 15% of the way there with a new car

>>60505695 (OP)
>car value within 25-30k is ideal for new
Why the fuck would you spend 50% of your yearly on a car? Get an old car ffs.

For best credit rate, you'll want to do 20%
Car market is tough right now even old pieces of shit going for 10k+
If I were in your shoes I'd either try to find a higher paying job or shop long and hard and try to find a bargain used (tap your network, they might know an old person that doesn't drive anymore etc). Just doesn't make sense spending 6 months salary before taxes on transportation

>>60505695 (OP)
When I made that much, I got a $6.5k car that I just bought outright. Now that I make $95k [I'm a forty year old boomer, I don't make shit for my age], I would only go as high as $10k and I have my eyes on a 2009 Civic with 80k miles in that price range.

>>60505695 (OP)
I would never buy a car with debt.

>>60505695 (OP)
The general rule is 20% down on a 4 year loan where payments don't exceed 10% of your monthly income.
But honestly? If you're even considering financing a $30k car on a $75k salary, you might be better off putting that down payment into something with actual upside potential. Not that I'd recommend gambling, but even throwing a few grand at a memecoin like goat on avalanche would be less financially irresponsible than overextending on a depreciating asset.

>>60505935
This is what I don't understand..
I get so much shit for having a Mercedes (a 2012, 13 year old Mercedes) that was 11k bought outright.. Meanwhile everyone I meet around the same income level or less is very gradually paying off some newer shitbox car than was double the price and then more with their APR.

>>60505935
I spent over 100% of my yearly income on a car

>>60505695 (OP)
for your budget you can maybe afford a used car with cash for 10k

I make around 200k a year and I drive a Dacia Sandero. You are incurring debt to drive a car you cannot afford.

>>60506155
>>60505872

yes

>>60506082
Right, and I think used luxury cars may offer a particularly good value. Loads of people buy them new just to show off and then dump then because they're not the newest. And then lots of people in the used market are so dirt poor that the nervousness of ever needing to do maintenance on a Mercedes makes them scared. It's obviously more than some used shitbox, but really the annual costs are maybe $2k-$4k more than shitbox and tremendously cheaper than a new one.

>>60505695 (OP)
> car value within 25-30k is ideal for new

Yeah you're a fucking poorfaggot you don't spend $25k on a new car.

>>60506074
>The general rule is 20% down on a 4 year loan where payments don't exceed 10% of your monthly income.

That's some Jewish "rule" for maximum shekel extraction from goys. Lots of "financial advice" is rules for how the Jews can get as much money out of you as possible while keeping you JUST able to make your payments. It's like a parasite sucking its host dry but allowing it just enough nutrition to survive.

Whenever you see financial advice, look at who is putting it out. Tons of it comes from Goldberg Bank or Feel Good Goy Purchases or whatever.

Nigger buy $3k civic for cash and invest the rest