I sure wish I can lol ..
me and my gf eat out alot ... 30-50 a meal ...
and i like my starbucks ... 5 dollar a drink ..

funny how little things add up at the end of the month.
:mad0259:

This is dumber than the OP buying this car. Sorry, but that's a huge waste. To each their own.

kbb says $17k for your civic? expect the dealer to give you $10k.


time spent with someone you love is NEVER a waste

One more tip for the OP..

Even if you don't need the student loans.. take out as much as they will give you right now in subsidized loans. Don't take unsubsidized loans if you don't have to.. But if they will give you more money in subsidized loans.. take it!!

Subsidized loans accrue zero interst while you are in school. So, it's free money until almost a year after you graduate. If you can get an extra $20k, take the money now and invest it.. then as soon as you graduate and they would convert to start charging interest.. pay them back and keep the interst you've earned. Plus, it'll help establish some credit history for you as well.

I never said the time spent was a waste. The time spent is invaluable, take it from some one that's spent two of the last three years away from his wife. But you don't need to spent $30-$50 eating out all the time and $5 (nearly everyday, is my guess) on coffee. That's not what makes the time well spent.

I can always justify spending money on food :)

I don't drink much so I guess that helps...

Like I said, to each their own. When you're spending enough money eating out that you could pay a car payment or part of a mortgage, then you're being foolish financially. I've done it, I know. My wife and I used to spend $450 a month eating out. When I saw this, I was amazed. Now, it's less than $100. It's just the smart thing to do. If this current economical situation has taught me anything, it's that nothing is guaranteed. Save for when things aren't so good.

Start saving each month, and before you're done with school you'll probably be able to go in and trade the civic plus your saved cash for the car and own it debt free. That way when troubles arise you'll not be in a bind financially, you'll have worked hard for that car and appreciate it more, and you'll enjoy it a lot more without having to make payments. I would have really struggled making car payments in college on the $600/mo I was earning after buying books, paying rent, food, dates, other bills, etc. How awful would it feel to have to sell your car because you couldnt afford the payments? My $0.02.

Sell the civic, buy a cheaper miata, use the remainder to pay off debt AS SOON AS POSSIBLE.

Sure, you might have a LITTLE more fun in the FR-S, but is it worth accumulating additional debt at your age?

The answer, I think, is obvious.

As someone who bought a cheaper new car when I was in college and only working 20hrs a week, dont do it.

Dumbest thing I couldve done, just keep the civic in nice shape and enjoy the MPGs for now. Get a new car when youre out of school and have a full time job

What Mulder said! Wise advice!

yolo

As one of my colleagues (with whom I was in school with 10 years ago) reminded me, you really don't want a nice car in college. Between 21st birthdays and other festivities, there is a much greater than usual risk of someone tossing their cookies in or on your car. You never think it will happen to you, but it happens.

Brett

This is why I wish loans never existed, because it allows people with no business buying something to be able to borrow it. While borrowing it, people often say "I just 'bought' a new car. I'm only paying x% interest on it too!"

This is bad, you should never feel happy about paying interest, no matter how low it is. Even if it's 0%, you're still buying something that is out of your reach and placing yourself in debt. Debt is the reason why this country is going to shit, we don't know what responsibility means anymore. All we know is we want something and we don't care what it takes to get it as long as we can get it NOW.