Isn't the general rule of thumb for car financing $100/ month for every $10,000 financed on a new car/good credit? So.. I would say under $300/month on $25k is on point.
My thoughts exactly! My goal out the door is $19-20k, taxes and licensing included. Willing to go in with a $2500 down, which is 10% of the sticker price. That should essentially cover licensing, maybe a portion of the taxes. Drop the cost of the car to my asking price (which is not bad), and I should be golden.
I hope your credit is super great. I got my wife's lancer for around $23k and we pay little over 400 for it.
I have a co-signer with A+ credit. I have a credit score of 675 myself, but with some accounts in collections. Surprisingly, zero negative marks, though. I also have 3 active credit cards, all in excellent standing. This s**t is frustrating as all hell. I talked it over with Kelly, and she gave me some great recommendations which have been helping me a bit (keeping credit in order, maintaining good debt to income ratio etc.), but I'm impatient, and kind of in a bind. I need a car like.. two weeks ago lol.
I'm in the same boat as you as far as the car payment. The one I want is $20k-$25k and I want my payment to be under $300. I plan on building credit from my rent payments and getting a credit card here soon.
Either have a fat down, or a cosigner with amazing credit and literally zero loans in their name.. Probably gonna need both, though. My APR with a badass cosigner was 8%. I want 3.9. Dunno if that's gonna happen, though... With 8%, I was at your asking price, and my payment was $345. I could have swung it, but it would have left me with less money to enjoy myself with, which I don't like haha. Also, full coverage insurance was $150, which was phenomenal haha.
I'm 23 but I've also got my house insurance and 2 other vehicles on the policy. Also no wrecks or tickets. My liability was only $20 a month for my civic.
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Yeah, if I drop my Civic to a casual car at liability, it's $15 a month lol.