What is a decent down payment for a $25,000 car?

Okay so My dream car is a 2017 Honda Civic si. I've always wanted a si since high school. I'm 20 years old with no credit but my grandpa as always told me if I wanted that car then I need to come up with $2500 and he will let me cosine with him (he has perfect credit). I don't know about you guys but don't you think I need a little more than $2500 since the car is $25,000? And plus I don't want my payments to be like $600 a month, the maximum payment a month I would prefer is $300 but nothing above that. I don't want the car until next summer anyways so I have plenty of time to save up so what do you guys think is a good down payment for that car?

To keep the payments low, pay as much cash as you possibly can. The last car I bought, I paid 3/4 of the asking price. If you do that, you will still have payments, but they won't be bad.

$25000 would be a decent downpayment.

If you can afford $300 per month, then you should not buy a car for more than 6000.

How much interest do you pay for the credit?
How much interest would you pay over the whole time that you own the car?

Save your money and pay cash for a used car with what you can save up.

Even if you pay cash for the car, your cost of ownership will still be over $300/month by the time you factor in gas, tabs, insurance, maintenance and repairs. Cars are expensive to own, and you can't afford a 25k car at t his stage of your life.

Considering the interest rate and taxes on the car as well, I think a decent down payment should be at least $10,000, if you want your payment to be around $300/month for 60 months.

By the way, don't forget that you have to have a full coverage insurance on it too.

There are loan calculators on line for reference. 25k is 10% down on that car. Your payments will be less the higher the down payment, also shows gramps responsibility on your part. Keep in mind a financed car is going to require full coverage insurance and will be high. A smart responsible young man would get a lesser car, drive and maintain it while saving for that dream car, that dream will change as you mature

My rule of thumb is 2 months pay for transportation, unless it is a business vehicle/work truck.

Getting stuck with multiple years of payments/full coverage doesn't make financial sense if you aren't pulling in enough/have enough to buy outright.

10%. Is usually standard but the more you can put down the less you have to pay back.

What is your income?

I would suggest a much cheaper car. A 3-4 year old car still under factory warranty should be significantly less. Buy from a private party with no paint or body work and verify with honda the power train warranty is still in effect.

If new is $25k, you should pay no more than $15k.

But, even that is too much unless you earn $1500+ a month.

Cars depreciate fast. Insurance would be sky high for either.

I'm a millionaire and the most expensive car I ever bought in my life cost $8800.

The larger the down payment the better. Your finance terms will improve greatly with the more you can place down up front.

If you can only put down $2,500 on a $25,000 automobile you'd be looking at a $400 monthly payment on a 3% loan on a 60 month term. Tracking? You would have to have a down payment of at least $7000 to get your monthlies down to near $300 under those terms.

The more you put down the less you have to pay in monthly installments. I paid for the car completely so my monthly payments are 0. You forget insurance… And that is going to be high and you need full coverage. What is wrong with the 2018? It is just a number.

Buy a used one. The New car buyer takes the BIGGEST HIT ON DEPRECIATION(all cars depreciate) on the first several years. The car may lose 3K in the first year alone…2K in the second and 1K in the third, and then the value of the car slows down in the depreciation of it. A 2014 Honda may be down to 18K area., with little mileage on the clock. So still like brand new… It is just missing that new smell… That is all. Most of the BUGS have been taken care of(Warranty work) and the warranty is transferable to you.
. So in any choice you make SAVE LIKE NEVER BEFORE.