Car Buying Financial Analysis

Prompt

Help me make the best financial decision on buying a car.

Context:
- Annual take-home income: [AMOUNT]
- Current monthly debt payments: [AMOUNT]
- Car I'm considering: [MAKE/MODEL/YEAR]
- Purchase price (or target budget): [AMOUNT]
- Down payment available: [AMOUNT]
- Financing available: [DEALERSHIP / BANK / CREDIT UNION]
- Credit score: [ESTIMATE]
- Buy new vs. used: [PREFERENCE]
- Financing vs. cash: [PREFERENCE OR 'HELP ME DECIDE']
- How long I'll keep it: [YEARS]

Analyze:

1. **Affordability Check** — The 15% rule: monthly car costs shouldn't exceed 15% of take-home pay. Am I within it?

2. **Total Cost of Ownership** — Beyond purchase price: insurance, gas, maintenance, registration, depreciation. True 5-year cost.

3. **New vs. Used Analysis** — At the specific car I'm considering, what's the depreciation curve? What year/mileage is the sweet spot?

4. **Financing Analysis** — Loan amount at [RATE]% for [TERM] years. Monthly payment, total interest paid. Is a longer term saving money or costing me more?

5. **Cash vs. Finance** — If I have the cash, should I use it or finance? The math depends on interest rate vs. investment return opportunity cost.

6. **Negotiation Strategy** — How to negotiate: price first (not payment), timing (end of month/quarter), and how to handle trade-in separately.

7. **What to Avoid** — Extended warranties, dealer add-ons, and financing traps to decline.

8. **Lease vs. Buy** (if applicable) — For [SPECIFIC CAR], is leasing financially better or worse?