Realistically how much money do you need to save for a car?

Question

I lease a car now and not sure if I want to lease again when it’s up in 5 months or buy a reasonably priced car. 
Generally how much is normal to put down on a car? And do you know if you choose to pursue the buyout option at the end of a car lease, do you need to put another down payment?

Answer

My dad always says, don’t buy a car unless you can buy it twice.

Answer

I put down 3000 for my car, it was 7000 used, perfect condition. I'm a fan of doing the biggest down payment I can so then there's less to pay back later

Answer

Realistically put down as much as you can. For my 1st car I put down 3,000$ and had a pretty reasonable car payment and paid it off quick. When my husbands car died and we had to buy him a new one 2 weeks after buying our house we could only afford to put down a couple hundred. The payment isn’t horrible but it’s definitely not as good as it could have been.

Answer

I never buy a vehicle over 5,000

Answer

I put down 1500 on a 11,000 car 💁 guess it just depends where you plan to get it from and how much they're willing to work with you

Answer

If possible, save up and buy a cheapish used one all in cash!

Answer

I have never leased a car so I’m not sure but I would guess that you would just finance the last portion of what is left or pay it outright. If you plan to buy, I would determine what you want as a monthly payment and how long you are willing to make payments. Also, check your credit score to see if you will get a good interest rate.  I recommend getting your car financed through your bank or credit union and usually they want to know what car you have picked out and what the agreed price is between you and the dealer. If you finance at a dealership, they will put your personal info out there to several financial institutions to see what options they can get you to sell it as fast as possible. The last car I bought, I told the salesman I didn’t want them to do that and they did it anyways. I was unhappy to say the least.

Realistically how much money do you need to save for a car?

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