If you were 18 again, what would you rather get a loan for?

Question

Remeber being a high school grad, and if you weren't given a car, education or place to live on your own.
What would you decide to take on your own support?
A CAR W.LOAN, OR TO GO TO COLLEGE W.LOANS/GRANTS, OR ANOTHER GOAL THAT MAY HELP YOU BETTER YOURSELF(ARMY, NAVY, WORKING, ETC.)
Tell me what your choice was if you are happy you made it?
Or tell which you wish you would have taken, now looking back?

I am 23.
Never got any loans yet.
Had the credit cards and learned a valuable lesson.
Just got free grants for FT school. While my younger sister (20) has just got a brand new car with no education and has to work her *** off to keep it. I just really wonder how many people make these misteaks, and if they did are they truely happy that they made it?

Answer 1

college or even better vocational training for your specific area od interest. a car is fun but car payments, car insurance, gas, & maintainance are not. in most cases a car is not a most but education is.

i went straight to college & had a good time.

Answer 2

A definite no to the car loan. A car is not an investment its something that will only decline in value from the moment you drive it away. If you must take a loan out for anything it would be more valuable if taken for school, however you should go to the library and look up scholarship information. There are books dedicated to just this topic giving scholarships to people for everything from being left handed to having asthma.

It may also be a good idea to check out the army/navy if that's something that interest you. They usually pay for higher learning as well as provide you with room & board. Just keep in mind what your getting into with the state of the world these days.

Just the fact that your weighing your options shows your on the right track! Good Luck!

Answer 3

First, try hard not to get any loans, or get the smallest loans you can survive on! One choice is to go in the service as the Navy guy recommended. IF that doesn't appeal toyou, then go to a public college near you so you can live at home and travel to school by bus. Or, otherwise work out a way to attend school as inexpensively as possible... a good plan is to attend community college for two years and then go to state university to finish your Bachelor degree.
Try to avoid having a car if possible. THey are so expensive to operate! And, after a few years they are worth practically nothing. So you wind up paying a big loan off and having nothing to show for it. Also, you MUST pay all your loan payments on time. If you dont and your credit rating goes bad, then you either will not be able to get loans or you will pay MUCH higher interest when you do borrow.

If you are smart enough for college, you should go. But you should try to do it without running up huge debts that will cripple you for years.

Answer 4

I wasn't sure what I wanted to do, so I figured why not join the navy until I see where I want to go with life. That was 18 years ago and I love it. I'm currently posted to Italy with my family and I wouldn't change my decision no matter what.

I definitely wouldn't get a loan for a car though, if you're going to incur debt at least make sure it has a good return. College would be better.

Answer 5

I personally get a loan for college because it will pay out in the long run. A car loan is a huge mistake because it limits your chance of getting a better and newer car because your are still paying off the old one.Buy a used and dependable car that will last in college. Don't buy for looks but buy for performance. Don't take a big loan that will take you forever to pay off and stick with with small loans first.

Answer 6

well im only 20 now...so that was only two years ago but i have lived on my own since i was 16...i bought my first car then without a loan...then when i was 18 i got a loan for a car...and then when i was 19 we got a loan for a house...we(my husband and i) pay these regularly and are on time i wish that people learned to be responsible.....all while im still going to school and paying for my own education....

Answer 7

If I was 18 again I wouldnt ask a loan for anything..and i mean anything due to the fact that I'm still paying for my college loan plus interest.. and mine you i'm 22 and still paying uncle sam... Loans are no joke.

Answer 8

Absolutely an education so that I could get a decent job and buy any car I wanted.

Answer 9

Personally, if I had a choice to go back being 18 years of age, I would have taken a loan or what little money I had saved and I would have gone to travel in Europe. I think back at what I wanted to do and I always wanted to find out who I was with respect to the world. Although I found myself through my years of education, I could have had a far more interesting journey and had less personal stress and financial stress if I actually went for my dream. The issues at that age I was not able to deal with because I had parents to help me out with my money problems, have the car to drive everywhere, had money to buy the clothes I wanted, money to party, and alot of friends to share it with and also an education that will hopefully get me the best paying job to support my life and habits.
It would put a different perspective on my life as an adult and my responsibilities as a human being. You first would learn that there is no one to depend on to wash your clothes, buy you nice things, drive you around, and no one to cook for you, and also no one to care for you except yourself. That is a way to teach you survival, independence, teach you initiative and teach you how to appreciate what you have and what you earned to achieve in obtaining. You also will learn about new traditions, cultures, laws, beliefs, religion, cuisine, economy, geography, political climate, weather, People. All these factors deal with adaptation and how can someone really know what adaptation is about when they don't know how to adapt if they have never been in that situation?
I feel that not only will it be a learning experience but a holiday from the high school education you have taken since your were five years old!
Alot of your life at that time is education. When did you have a break? If you are about to approach school as "daunting" you need to have a break from education and the world of academia. However if you are prepared to go to school for 3-9 years just remember the level of commitment. This form of commitment is like life imprisonment for some, entertainment for others or just work for some. Are you going to live on your own to teach yourself independence and responsibility or are you just running away for a new party pad? Do you actually understand the responsibility of having your own place because not only do you need to pay for it you also have the upkeep to take into consideration as well, A house is a good investment but do you actually have that stable job to commit to it? As for the car, those kind of items depreciate in value and hold no investment quality unless you want a car that is a lemon. In that case are you prepared to take on the upkeep of a car that you may no little or no knowledge of repairing and maintaining it and cost of insurance and gas etc.
I have done all these things except travel and I feel that it would have been better for me as I would have placed more commitment in my education and my relationships (as I experienced alot of deterioration of personal and professional relationships). I would have appreciated my family more for what they had done for me and not what they didn't do for me. I would have had less financial stress and not worked like an animal for most of my life ( I had four jobs at one time and worked myself hard to pay for school and financial stresses). I also would have been less consumption oriented ( bought less, ate out less, took the bus instead of having a car ). Finally,I also would have had a better outlook on life as money affects education, and education creates personal stress and financial stress on top of the other things I have listed above.
However, in the end the hard work has paid off. I will be completing my program soon and will obtain my diploma in summer of 2007, I am married to a wonderful and handsome, plan to have kids, I have a steady job, I have great supportive family, I am not in as much debt as I was, My husband and I have plans to travel for our honeymoon to Europe. We also plan to travel for holiday once a year to commit to pursuing my dreams of seeing the world. So depending on which route you choose their is light at the end of the tunnel. I Say Choose your own adventure, I did, it was a long journey but it was a different one that what I had predicted I would choose!

Answer 10

If I was 18 again I would do the credit card again it is a fast easy readily available for any puurchase u need at the time you need it.