Reply to Am I being unnecessarily cheap about new car purchase?

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[quote=Anonymous][quote=Anonymous]We have a HHI of $300K. My previous car purchases have all been used or CPO vehicles. I’m car shopping now and want a larger vehicle for our family (I currently have a 10 yr old grand Cherokee that is surprisingly too small for comfort and needs repairs that are close to its actual value. I don’t want a Yukon or anything that large but a minivan or 3rd row midsize SUV would work.

My problem is I really don’t want to pay more than $40K and I’m even uncomfortable at that level. My budget and financial advisor say I can afford a car worth more than that but mentally, [b]I can’t wrap my head around a $600+ car note[/b]. I am leaning towards buying new because I want something extremely reliable and used car prices aren’t that much of a savings right now but when it’s time to pull the trigger, I get cold feet.

Am I being ridiculous? What’s the saying…a penny wise and a pound foolish? Or something like that. [/quote]

I just bought one for 30k and my car payment is more than 600 per month (but only put down $500 b/c rate was only 2.9% for 48 months)

You can't buy much with 40k[/quote]

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