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

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[quote=Anonymous][quote=Anonymous]OP here.  I don't think I explained my question very well (that's my bad).  That being said, some of the posts have been very helpful so thanks!

Here's, hopefully, a better explanation:

I know the "ideal" advice is to pay cash for used car and never take out loans.  In my situation, I don't think that makes any more sense than simply repairing my Jeep.  If I bought a used SUV/minivan for $25K, I wouldn't feel any more comfort with its reliability than spending $5K to have my Jeep repaired and it wouldn't be covered by a warranty.

If I get my Jeep repaired, I'll address the problems I know about, but I wouldn't feel any more comfort with its future reliability (and I already sunk about $3K in it late last year).  I'm still on the fence about just getting my Jeep repaired again but at some point I don't want to keep throwing good money after bad.

As far as new cars (if I decide to go that route), assume that I've already found what I want for around $40K which would result in a note of around $600 (after trading in the Jeep).

So I'm really only looking at two options: repair the jeep or get the new car (with a loan...I don't want to spend upwards of $40K cash).

[b]My actual question is whether that $600 note is really reasonable based on a $300K HHI or am I being cheap by balking at spending that much.[/b]  Online guidance says it's affordable and my financial advisor says I have it to spare.  Mentally though, it's hard for me to accept.

I am reading everyone's responses and taking it all into consideration but I don't see how a "new" used car with no warranty coverage trumps my "old" used car with no warranty or an actual new car with a warranty.  If the market wasn't as crazy, I'd buy a CPO but the price difference from a new car isn't significant enough[/quote]

No offense intended, but as someone who could write your exact post with regard to our 2009 Subaru, is looking for an EV or PHEV that will reasonably accommodate our small family, and are therefore necessarily looking in the 35-40k range, but with an HHI of $130k, yes, you are being cheap. [/quote]

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