Some say your total vehicle payments should be around 20% of your income. That's everything- gas, insurance, maintenance, payment. Of course if you can get less than that all the better right!

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I am only one, but I am one. I can not do everything, but I can do something. I must not fail to do the something that I can do. -Edward Hale

MAybe look at the $40,000 and take out 4-6 months of expensess and then see how much cash you have.

I just took on my first car payment. I bought used, two years old. I went into it saying that I didnt want my payment over $150 a month. I walked away with $146. I also figured in how much our insurance would be, too.

I know a family that makes around 50,000 a year, and they have a loan on a $40,000 truck... that he wont drive in the snow.... makes NO sense to me.