<prompt> Human: Im a 19 yo second-year college student who is looking to purchase his first car. I have been driving my parents car for the past 3 years and am now looking to purchase my own. The car I want is 23,116 and I have 10k in the bank. The car payment will be 315 per month if I put 4000 down with 1.9 APR financing for 60 months. My parents will allow me to put it in their name for the sake of me having no credit etc. I work as a waiter and make 1600 per month. I have no other bills except gas. My parents are going to pay for my insurance and the tax on the car, however, the car payments, down payment, and gas is all up to me. How much money should I put down? Is more money down or higher monthly payments better?  <response>: 10k in the bank make 1600 per month The car I want is 23,116 How much money should I put down?Buy a second hand car outright for 4K, put 1K new partslabor into it. Youll have 5K left in savings, can continue to save, AND have a reliable car that can teach you how to be a responsible car owner. Drive it all through college. Get a new job. Then, maybe, buy a new car. 