I am currently looking at colleges, either a 4-year (public or private) or possibly a community college. I already have most of my college paid for with the help of my parents if I wanted to go away, but I would probably still have some student loans. If I stayed home I would save a lot of money and would not have to take out any student loans, allowing me to further invest the money currently set aside for college. If I worked 30-40 hours a week at around $10-15/hr along with attending classes would it be wise/acceptable to purchase a $20-25k car? I will have some other expenses along with the monthly car payments, but I won't have rent or anything since I will be living at home.
Thanks!
2007-10-01 13:00:52 · 7 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Thanks for the replies!
I own a car right now, so I already know the monthly expenses of owning a car per month. The only thing I would be changing is the amount of insurance and the car payment. Maybe, something between $15k-20k.
2007-10-01 13:49:58 · update #1
It would not be wise or acceptable to buy a $20k-$25k car.
Is is both unwise and unacceptable to me. If I were your parents and I was helping you pay for college (and giving you a place to live while you were going) and you went and bought a $20,000 car I would stop paying for college and ask you to move out, because you obviously don't need my help! If you are going to do it anyway, have a clear and honest discussion with them about what you want to do and why.
It is unwise. Cars are awful expenses. They depreciate in value and are an expense, pure and simple. New cars are a terrible 'investment'. Keep your transportation costs as low as possible.
2007-10-02 04:29:57 · answer #1 · answered by Rush is a band 7 · 0⤊ 0⤋
If you are going to be spending so much time working and studying - when will you be using the car? What do you want the car for? If you currently have a car, what is wrong with it that it needs replacing? I'll misquote a little phrase for you:
are you 'penny wise and dollar foolish'?
2007-10-02 02:29:28 · answer #2 · answered by CountTheDays 6 · 0⤊ 0⤋
the only thank you to get your insurance at a less high priced fee, is to have a discern flow on the call and or own loan with you. At that element they are in a position to record you as a secondary driving force and not an entire time driving force. i'm interior the vehicle marketplace!
2016-10-10 03:23:25 · answer #3 · answered by henze 4 · 0⤊ 0⤋
No but you will have Monthly payments on the car, insurance, gas, upkeep, if you can find something cheaper I would go with that.
2007-10-01 13:05:49 · answer #4 · answered by nomo 4 · 0⤊ 0⤋
20 to 25 K, no, you'll be stetching yourself thin
However, if you plan on working full-time, you can START
taking on-line classes to the school you are thinking of
attending? And your employer may have tuition re-imbursement?????
so maybe you can afford that car
2007-10-01 13:07:03 · answer #5 · answered by Anonymous · 0⤊ 0⤋
stay on used car first.
It is very reliable when you aren't financialy stable or in college because college is no joke,i know u know this,
and you'll never know if there' s an emergency coming up
2007-10-01 13:11:17 · answer #6 · answered by Anonymous · 0⤊ 0⤋
no. you need insurance, gas, payments, etc. get a $5,000-$10,000 car if you need one.
2007-10-01 13:04:59 · answer #7 · answered by Anonymous · 0⤊ 1⤋