Yes, it’s too much, especially for 5 years at 13% interest. You’re 20? Have you priced full coverage insurance?
Do you own a car now? What’s your total budget for car, insurance, maintenance? Likely, you should be budgeting $200-250/month for the latter 2 items given your age.
Save your surplus for 6-8 months, find a used car you can pay cash for.
ChrisMag999 t1_jeeo1e6 wrote
Reply to Is a $500 car payment too much by [deleted]
2 weeks ago, you posted about buying a house.
Yes, it’s too much, especially for 5 years at 13% interest. You’re 20? Have you priced full coverage insurance?
Do you own a car now? What’s your total budget for car, insurance, maintenance? Likely, you should be budgeting $200-250/month for the latter 2 items given your age.
Save your surplus for 6-8 months, find a used car you can pay cash for.