How much money do I need to buy a car? For example 2016 Honda Civic Touring or 2016 Jeep Patriot?

How much money do I need to buy a car? For example 2016 Honda Civic Touring or 2016 Jeep Patriot? - 1

Usually need like $1000 down if your credit is alright, just to start.

My mom claims that she never puts money down and they still give her the car… But on adverts I always see like $3000 to $5000 down to get the deal mentioned.

To buy the car you will need about $30,000

To finance the car you will need a down payment of $3,000 plus good credit score and good income.

You will also need money for insurance

Got to Truecar.com or Edmunds.com and see what the market prices are for these cars -- prices that other people are paying right now.

If you plan on financing, you must be at least 18 years old, have good credit, and a good steady fulltime job that provides enough income for the monthly car payments, insurance, and all your other expenses. You should pay about 20% as a down payment.

There will be other up-front expenses such as sales tax (in most states), registration, tag, and title fees. The cost of these fees depends on what state, county, and city that you live in. You must also arrange for insurance before you can register the car. The bank or finance company that provides your financing will require full-coverage insurance, in addition to legally required liability insurance.

Buying, owning, driving, and maintaining a car is very expensive. You must consider all the other costs beyond just the price of the car.

I'd start by finding out what the MSRP for these vehicles are from the manufacturer's website.

Probably none if you have good credit. Both of my kids bought $27,000+ vehicles(first vehicle) for no down and interest in the high 2s-low 3s percent interest rate.

Hi so how long is a piece of string as the difference between these two is immense

Use these simple rules to help make your decision.

Your car should not cost more than 50% of your yearly income. So if you earn $20,000 a year your car should cost no more than $10,000

A good down payment is 10%- 20%.

Your monthly payment should be equal to 1 week income. No more.

You should be on the job a minimum of 6 months Full Time and have the pay stubs to prove it.