Can I afford this car?

[Spd229]

Originally Posted by ryude

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.

That's certainly one set of buyers, however some, even while possessing the cash to buy it outright, prefer to leave themselves a safety net for any unexpected expenses.

Getting in over one's head is one thing, being intelligent and cautious is not.

[Allch Chcar]

Please introduce yourself here.

Stuff like this should really go in Off topic area. We just had a discussion about this last week or so and the responses were pretty similar.

[suprachica79]

Originally Posted by MRZ415

Sometimes even i question myself if i can afford this car..
and i make 45k living at home with parents...

I make 48k living at home with my parents and I can't afford this car. Not with 800 a month in student loans and $500 a month in gas. I guess I could, but I want a house someday...

OP - You can't afford this car. Trust me, I have more loans than you are going to have but you have no idea just how much strain they will put on your life. Work as hard as you can and pay down as much of those loans as you can while you are in school.

[Hawaiian]

Originally Posted by ubersoph

I can always justify spending money on food

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

I wonder how they would react to the $500 per person meal I just had.

[bayareakhiladi]

I was in the same situation when I started college in '04. Back then when it was the WRX/Celica/Prelude/S2000/RSX..etc. I wanted to get my hands on one of these cars. But I knew I couldn't be able to afford it. With tuition, rent, and expenses. However, I was fortunate to have a hand-me-down: 1987 Toyota Supra NA (2nd Generation owner). Then I graduated, struggled to land a job (9months), got the job and getting paid well!!!! Now, FR-S is in my sights. Going to turn Supra into a project car.

Can I afford the FR-S now, HELL YES!!! Could I have afforded a car like the FR-S back in college, HELL NO!!!!

Hope this helps you out!

[dori.]

the fact of the matter is, if you really truly want something you'll find ways to obtain it.

alot of the advice in the thread is sound, but its your life.

[ftw-86]

YOLO!

[iDriveFast]

If you have to ask if you can afford it you usually cant afford it

[Enemies]

Originally Posted by MRZ415

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.

Doh... Can't you brew Starbucks coffee at home to save yourself money? Or try different brands to see if you can find one that's more affordable?

How much is a lot? Like, more than once a week? You always paying or does she contribute?

My advice (probably not the greatest) is to try not to get her used to a lifestyle that you can't really afford. Otherwise you won't be able to properly afford the things you want/need because you're getting her the things she's used to but doesn't necessarily need.

[Striker9]

Originally Posted by ryude

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.

Why would I pay in full for a car when I can take out a loan for ~1% interest and invest my own money to make even more?

[colganc]

Originally Posted by MRZ415

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.

If MRZ415 really does live in SF he won't be able to save really for a home & mortgage even if his eating out expenses are $600 per month.

To the OP: If I was you I'd keep the car I have and save as much as I could or pay as much of college as I could.

Earlier in life I didn't buy a car until I absolutely needed it. I was able to enjoy life alot more. I had no money troubles and little stress. When I'd go out to eat with friends I never worried about how much something on the menu cost, I'd just buy exactly what I wanted.

My own "rule of thumb" is to purchase a car that is half my yearly pay or less. That leaves plenty of money left over to have fun.

[phenoyz]

Originally Posted by ryude

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.

true...

[n2oinferno]

Been there, done that. Hindsight is 20/20 though, right? I'd hold onto what you have. But if you really are bored with the Civic, sell it and buy something cheap and fun. There are plenty of great used cars out there. Treat yourself after you have a full time job and your debt is paid down, or is only a small fraction of your total income.

[Zgrinch]

Aw.... You only live once..... go ahead and get the car, use all the money you been saving to pay off your school loans and eventually get a new place, and put every dime of it into the new car. Then you can move out of the house and live with your friends in your new car! Like this......



Seriously, getting a new car in your financial situation would not be very smart move on your part. Save up, payoff and leverage that education to get the job and career you want, keep saving, then get the car of your dreams.