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When I was 21 I was making about the same as you, except I was living with my parents so I didn't owe any rent, and was single and loving life. My car payment was around $300 + $120 for insurance (This was an 05' 330Ci mind you). I enjoyed the shit out of it and (to me) it was worth every penny. I learned a ton from working on that car and that's something that I will carry with me for the rest of my life. Look at it this way .. in 5-6 years, you'll be at an age where you will (hopefully) have your own place and have a newish paid off car. Just one less bill to worry about later. A lot of people find that mindset foolish, myself included, but as you age, you inevitably will have more financial responsibility. I am at a point where I sometimes wish I kept that car so I don't have a car payment right now. But that's life, I am making twice as much and can afford more things - so it kind of balanced out I suppose.
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