Originally Posted by RedTeamGo!
Part of the reason I said around $300 is that I am up for a promotion to outside sales. If I were to get this promotion it would include a program called "runzheimer" which gives $300 a month for a car payment as well as a certain amount of money per mile driven (work related driving only). The catch is it has to be a car that is within 5 years old, has 4 doors, and meets other criteria. Obviously I would be able to go with a $400/month payment and just spend $100 out of my pocket, but in a perfect world I would like no money going out of my pocket. Either way I am getting a new vehicle this winter as my malibu is about to die, hopefully I get the promotion so I don't have to pay for it!
Well, I don't know all your particulars, such as how far is your commute, how much are you willing to put down, etc. So again, just generally speaking for a younger guy in your situation, about to start a family, I might be looking to hold on to as much cash as possible instead of tying it up in a "large" down payment on a car. That's why a 2-3/yr lease putting little to nothing down, on a new car with warranty isn't a crazy idea. Some leases include regularly scheduled maintenance, although that tends to be with vehicles in the $40K+ range. Again, not saying outright purchase wouldn't work for you, just that I would not be quick to rule out leasing. But with employer paying $300/mo, either way you're way ahead of the game...congrats and best of luck.