Quote:
Originally Posted by EZ28
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. |
Yup, I'm just out of college so I haven't had a whole lot of time to save up, but I can easily afford $1k/mo or more payments. I could wait and save up a larger down payment, but GM needs help NOW, and I'm happy to oblige
