what is a reasonable amount to spend on a car? This would be my first car, i'm looking for a used car only a few years old (to save on the freight and initial 10% depreciation driving off the lot).
I make a modest salary, but I still live at home. Since I am still under 25 as well and only have a G2 so I realize insurance would also be quite a lot.
I have quite a bit of money saved up but I feel it would be unwise to spend all, or most of it, on a depreciating asset.... would it be wiser to have no money leftover and less debt when financing or to spend less of my saved cash and have more debt (using my salary on larger monthly payments)?
How much is a reasonable amount to spend on a car?
edit: what is a reasonable % of my salary to spend on a car?
I make a modest salary, but I still live at home. Since I am still under 25 as well and only have a G2 so I realize insurance would also be quite a lot.
I have quite a bit of money saved up but I feel it would be unwise to spend all, or most of it, on a depreciating asset.... would it be wiser to have no money leftover and less debt when financing or to spend less of my saved cash and have more debt (using my salary on larger monthly payments)?
How much is a reasonable amount to spend on a car?
edit: what is a reasonable % of my salary to spend on a car?