I need a new car. Should I get a loan with a monthly payment I can afford?
No. We don’t go into debt for cars.
“But, Joey, I really need a new car. Not “new” as in brand new, but “new” as in a different car. Mine’s dead.”
Good. Decide how much you’re willing to pay for a car, and go pay that much.
“But, Joey, I don’t have that much.”
Then you’d better start saving.
“Wait, what? How? How much?”
We need three things:
a dollar-specific goal, say, $7,000, or whatever
a time-specific goal, say, within three months, or whatever
a plan for finding that money in your budget or earning that money with extra work
“But, Joey, what about a lease?”
No. We don’t go into debt for cars. Decide how much you’re willing to pay for a car, and go pay that much.
(Am I repeating myself?)