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How much of a down payment for a car should I save before purchasing it?
At minimum, put down the sale price less what insurance would pay if you got in an accident when driving home, OR purchase gap insurance. This auto loan calculator is fun to play around with.  The larger the down payment, the smaller your monthly payments will be.  Don't forget to budget insurance and gas!  Insurance on a car you make payments on is more expensive. http://www.bankrate.com/calculators/auto/auto-loan-calculator.aspx A buddy of mine had a string of bad luck and totaled his car a few months after the date of purchase.  He learned what it meant to be 'underwater', insurance paid him a few thousand less than the value of his loan.  What's worse than having no car, having no car and a loan!