A 60 month loan at that rate is a long time and a lot of extra cash for the car. You may want to wait and put down a bigger down payment, or look for a less expensive car. Maybe pick up a beater (Honda or Toyota for reliability) for 5k and let a year go by before picking up a $500/month 5 year loan.
Useful_Space_9099 t1_jef577q wrote
Reply to Is a $500 car payment too much by [deleted]
A 60 month loan at that rate is a long time and a lot of extra cash for the car. You may want to wait and put down a bigger down payment, or look for a less expensive car. Maybe pick up a beater (Honda or Toyota for reliability) for 5k and let a year go by before picking up a $500/month 5 year loan.
Just IMHO. I tend to be pretty frugal.