If you want my opinion, if someone has to finance the whole amount, they shouldn’t be buying a new vehicle in this price range to begin with. This person should be looking for a used car that’s three or four years old. This attitude is why so many Americans are in financial trouble.
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But not at this time
Because right now that 3 to 4 year old vehicle is probably selling for the original list price . . . or more
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I agree that someone who has to finance the whole amount should not be buying a new car. It probably means that since they did not have the cash flow to save up for a decent down payment, then they probably do not have the cash flow to make the payments, pay the insurance, the maintenance, and the upkeep. And once they get a new car, it will begot other expenses, new cloths, new phone, new TV, etc… I saw this happen way too many times when someone got a new job, and began to get some credit, they would go hog-wild buying all those things they “deserve…” right up to the point that they blew their credit rating with all those missed payments…
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I think we all understand the issue. There is a difference though of has to vs wants to finance the purchase. Right now I would prefer to keep my powder dry and options open. This would not be a good time to withdraw 401k money when it is down 25 to 50%.
Agree to many people don’t understand the difference and it gets them into trouble.
The amount financed doesn’t really matter, in my opinion. The vehicle is still marked up $10k over MSRP, so they’re $10k in the hole from the start. Even if you pay cash, $10k of it was just a waste, unless we’re assuming that vehicle prices will not return to normal.
If I buy another new vehicle (that’s a big if at this point), I’ll probably finance the majority of it. My 15 year old truck isn’t really worth trading in. I’d rather give it to one of my kids than take the $3k or whatever the dealership would give.
I think the reason so many people are in financial trouble is they repeatedly finance…. Perpetual car payments- trade in the car you’re still making payments on for a newer car to make more payments on while you’re still making payments on a house, etc. If someone finances the entire amount for a new car and keeps it 10 or 20 years, I don’t see a big issue there. Save up a $5k or $10k down payment if you want, but it ultimately wouldn’t matter much as far as I can tell.
I see many people I know say “you deserve a new car” or “you deserve a nicer car” or something along those lines
And those cars they’re talking about are usually very expensive to purchase, register, insure and keep up
Since these people feel I “deserve” these vehicles, maybe they should buy them for me AND pay for all those other costs, as well 
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You must be talking about Scott Lehman, the “dealer for the people”. I hear his ads on the radio every day, and they annoy the @#$& out of me. His slogan is “you deserve to drive a nicer, newer car”. Of course, since the monthly payment in his advertising always talks about a 2011 Chevy Aveo, and the sum of those payments comes to way more than a 2011 Aveo is worth, we all understand what a great deal this guy is peddling (not).
Personally, I would cheerfully drive a 20-year old car with no monthly payment any day of the week. My Daewoo Lanos might not turn heads, and it might not attract the envy of my neighbors, but it does get me to work every day, and it does so without any monthly loan/lease payment. Same with our 2004 Corolla. My wife constantly whines about the fact that the paint is deteriorated from the sun, and she’s embarrassed to be seen in it, blah blah. But it always starts right up, and gets her where she needs to go–again, with no loan/lease payment required.
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Why do I think that if you wanted a new or newer vehicle you would have one . Life is short and unfair so what is wrong with her wanting something ?
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That why my daily driver is 32yrs old even with the high gas prices it is still cheaper than making payments. 
I have to admit we were looking at cars once and I told my wife she looked really good in it. We bought a different one though. I also remember after a long hiatus and we bought a new car I said I am not embarrassed in the least after what we went through.
Probably mentioned it before but close to 20 years ago my work partner spent all his money on hunting and fishing etc. in addition to his ex getting half his pension. Then we had a guy in the office way up north that saved everything he could. The two had a conversation where he complained about my partner not saving his money. He told him the difference is when we are both in a rocking chair, I’ll be thinking of all the great hunting and fishing trips I had, and you’ll be thinking about all the money you saved. That week the guy went out and bought a new caddy. There is a happy medium though.
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No, I was actually talking about people I personally know . . . neighbors, colleagues, etc.
And I’ve seen some of these people get into financial trouble when they bought a pricey new and gas-guzzling car which they felt they “deserved”
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My wife would have gone and bought a new car long before that. She would never wait for me to tell her it’s ok to spend some money on something. She’s perfectly capable of making her own choices and taking care of herself.
If Momma ain’t happy, ain’t nobody happy!
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