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Wrong question. All driven by down-payment, term and interest rate. Question should be the price of the vehicle.
Sincerely, a former car salesman who LOVED when ppl just cared about their monthly payment
+ 1. Never reveal your monthly budget to dealer. Purchase or lease.
Preferably pay full in cash. If you had to do a Monthly payment, do one that’s for :
Any truck that costs less than 1/2 of your yearly income and you can put 20% down
Loan is less than 48 months
Monthly should be less than 10% of your monthly income
ED1 is correct.
Determine the monthly payment you are comfortable with and can afford, determine the down-payment you are comfortable with and can afford. Play around with some online payment calculators and see what what that translates to for a total price.
That total price is now the high-end OTD (purchase price+taxes and fees) you are looking to buy at.
A sales guy can make just about any payment possible as long as he stretches the term out far enough.
I always tell them I’m only looking to pay $99/month.
For any car, make the payment as little or close to zero as possible. Get an older model or put more down but get that payment down. It’s a losing asset, so buy something reliable and inexpensive.