What kind of loan for a car can I afford with my budget?

It is time for me to get a new car. I have taken care of my 1990 Honda Accord EX, but I am afraid it is going to start having huge problems at any time. I just did clutch work and radiator work just to keep it running. I need it running to sell it.

Anyway, I have made a budget and have concluded that I can VERY SAFELY afford a $240 payment. This is JUST to go towards the loan, not gas, expenses, etc. Those have already been budgeted.

I have excellent credit and will be using USAA to get my loan.

With a $240-$300 monthly budget, what will the car%26#039;s value be if I take out a 3 or 4 year loan?

What kind of loan for a car can I afford with my budget?

What if you put $240 in a savings account, and if the car falls apart in 6 months, buy something.

What kind of loan for a car can I afford with my budget?

The best thing you can do is save up some money and buy something cash for a few thousand dollars. If you insisted on making payments atleast don%26#039;t buy new. But you can find nice cars for a few thousand, so why buy something for more that you have to make payments on?

What kind of loan for a car can I afford with my budget?

I just ran the numbers. At 6% for 4 years. ure looking at a car for 10,000 and paying 234 dollars.Have you looked for the best rate? You should compare rates and get more quotes.

http://www.finance-experts.com/car-loans...

What kind of loan for a car can I afford with my budget?

You can get a Hyundai, KIA, or Nissan Versa for those prices. Stick with foreign b/c they are the most reliable. My brand-new Nissan Sentra for $248 per month at a 3% interest rate. Hyundai is always running deals where they pay you a certain amount for a junker for trade-in.

I personally do not think you can buy a used car and come out clean these days. My family owns an automotive car shop and we know the truth. Cars aren%26#039;t made for over 5 years. They are like TV sets these days. Throw away when done.

Financially buying a a junkie car for a few thousand sounds great but when you rack up $200-$500 repairs every few months, it%26#039;s like making an auto payment anyway. Why risk losing your job also for not being able to make it to work?

If I could do it over again, I would have leased my car but my conditions are very different.

Make sure you have the invoice price before you even get on the lot. You can even look it up on your cell phone%26#039;s internet if you switch models.

GOOD LUCK!