Quote:
Originally Posted by levi1922
if everyone waited until they could pay cash, then the auto industry would for sure be in the dirt completely.
realistically, most people will be financing.
and they doesnt mean the cant afford it.
if you can make the monthly payment, you can afford it.
its a Chevrolet, not a Bentley.
it wasnt made to be exclusive
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I agree with this post. It's ridiculous to think everyone has 35K or MORE to buy a car. GM and most car manufacturers wouldn't survive. Edmund's recommends that you put down 20% (perfectly reasonable), but I've put down less than that before and have paid off all of the cars that I've financed and have owned. Besides, you shouldn't dump all of your money into a car anyway. What about a rainy day fund or retirement?! ...unless you're rich.
I plan to put 7K down, including my GM card discount. My loan through my credit union will be 5.5% for 66 months giving me a $550/month payment.