Highest your car payment should be?

[BTHOtu]

I've walked out...just had to stop the dialog...the sales guy was trying way too hard...trying to get me into a payment when I told him 3 previous times don't worry about the payment...let's focus on the purchase price...they didn't have the car I wanted anyway.

I've learned to never get emotional...have a game plan as noted earlier and follow thru...a lot of times used cars (especially upscale certified pre-owned makes coming off lease from a bulk buyer) you can get the best deal on price.

Car sales could be an interesting study in psychology.
Car salesmen like to put you in "the box" for long periods of time and make you sweat it out. They are usually hanging out in the back laughing at what a sucker they got ready to hand them over a big fat commission. The box can be an office or just sitting out by yourself. I usually walk out. Then they are the ones sweating because they have to keep up with where I am or if I'm leaving. My favorite tactic is when they have to leave to talk to their sales manager, if they exist. They will also bring the manager into the box to explain why their price is fair. I doubt that this person is a manager at all. I stay firm with my price regardless, if there is no deal I want to hear it from them. I haven't heard a car salesman tell me that yet. They eventually come down to earth when they figure out they aren't dealing with an idiot.
I do a lot of research - It amazes me how much they don't know about what they are selling.
I make an offer, in writing and sign it. I'm not trying to fuck them over, the offer is fair and based on all the research that I do.
I stay firm on the offer - Think of Bernie Mac in Bad Santa
Me "31-5"
Them "38"
Me "31-5"
Them "36"
Me "31-5"
Them 35-5"
Me "31-5"
Them "33-250"
Me "31-5"
Them "We aren't off by that much"
ME "OK. Good. 31-5 and it's a deal."

 

[OregonDucks]

Any of you ever lease a new car, with the intentions of owning in it after your lease contract is up? It keeps the payments down by like $200. Sure I know you basically cost more in the long run, but you get a year or two more of pretty low car payments.

 

[Nascar Addict]

You car payments should never be no more than 1/4 of your take home pay...

 

[Frizzle]

Any of you ever lease a new car, with the intentions of owning in it after your lease contract is up? It keeps the payments down by like $200. Sure I know you basically cost more in the long run, but you get a year or two more of pretty low car payments.

Leasing is a horrible financial mistake. Unless your leasing High end Luxury/Performance cars and always want the latest/greatest and can afford to do so.

IMO buying a used car is almost always the best option for most individuals out there. Don't understand why anyone would want to take a several thousand dollar hit with in 12 months of owning a new car.

If your over $200K in combined household income well then by all means do what you want but I doubt the OP would be asking such questions if they were making that much.

 

[Banned 10x]

$20k car vs. $60k is a pretty big difference...

Not once you drive it off the lot.

 

[HuskerinBig10]

Any of you ever lease a new car, with the intentions of owning in it after your lease contract is up? It keeps the payments down by like $200. Sure I know you basically cost more in the long run, but you get a year or two more of pretty low car payments.

Late to the dance on this thread

We leased a brand new Toyota Camry for our high school senior. He had totaled the 1997 Toyota Avalon during the winter on icy roads, real icy roads that even the policeman who was the accident site dude fell down on.

The payment was $210 per month for three years. So, we had the car for two years of his college, if he needed a car, and his younger brother could drive it one year.

Toyota threw in free maintenance for the three years also.

We did have to pay $800 bucks when we gave it back because of whatever crap they say is wrong with a car being driven nearly 36,000 miles in three years.

It was worth it because we knew the brand new car would not break down. No, we did not buy it. Way too small. We purchased a Honda CRV instead.

 

[rmilia1]

Car "payment" is many things. Its the payment itself, the insurance, the gas you put into it, the cost of repair/maintenance. Too often people get caught up solely in the payment and dont consider other variables. A car with a 250 dollar payment is often MORE expensive over the term of the loan than a car with a 350 dollar payment especially if the car with the lower payment is out of warranty/notoriously costly to fix/high insurance etc etc. The overall cost of ownership should be your ONLY concern when looking at your car "payment"

 

[whywork2]

Add up the money in that old ladies sofa and divide by 48 payments.

 

[H2S]

buy used...

my last two cars were both purchased used...first was a loaded 1997 Acura 3.0CL with 80k miles in 2000 for $10k...sold it for $3k in 2010 with 220k miles on it...still ran like a top; second was a 1998 Acura 3.5RL with 110k miles in 2009 for $10k...sold it last year for $3k with 245k miles on it...was beat to hell (but looked pristine.)

so...over a 13 year period my rides cost me $14k...I paid approximately $90/month for my cars (plus insurance, regular maintenance and premium fucking gas)...but...and this is IMPORTANT!...haha...I motored about in more luxury/performance/style than I had any right to deserve.