Im 21 years old and been wanting a jeep rubicon for years, and my dad said he would help me pay for it.(He bought my sister 2 cars already) The only thing is my dad now said he would not be able to pay that much becuase it's $800 a month for the payment and the insurance on the jeep and he has a lot of other payments.(My sisters and i College is one major one) Anyways i have a part time job, making around 800 dallors a month.. Should i just get my jeep and help my dad out as much as i can and have no other money to myself or should i just wait? I really want this jeep remind you!
2007-12-12 05:22:33 · 5 answers · asked by Mudchick 2 in Business & Finance ➔ Personal Finance
When making decisions like this, I always think of what my father once told me.
"When your outflow exceeds your income, your upkeep becomes your downfall."
If I were you, I would think long and hard about the commitment of 100% of you current income because you really want it, and instead, ask, do I really need it? Don't let car payments for something you want, but don't really need, ruin your future credit worthiness, or your dad's.
2007-12-12 05:30:27 · answer #1 · answered by advnturer 6 · 0⤊ 0⤋
No you dont want to do this. That is way to much for anyone let alone a college student to pay for a vehicle. You don't want all your income going to the vehicle for the next 5-6 years because thats how long your loan will be. Plus I think your dad is doing your enough favors by paying for your college. Must be nice to be a spoiled little brat, I wish my parents would have paid for college. Just be blessed with what you have.
2007-12-13 11:46:29 · answer #2 · answered by jt6341 3 · 0⤊ 0⤋
How about get a $300/month pmt and pay for it yourself.. you're a college kid, what do you need a car with an $800 payment for.. Are we compensating for low self esteem??? Spoiled.
2007-12-12 14:01:34 · answer #3 · answered by kta kta 2 · 1⤊ 0⤋
That is a ridiculous amount of money for a 21 year old! I think you need to lower your standards until you can afford to pay for it yourself. Get something cheaper!
2007-12-13 13:41:53 · answer #4 · answered by shrsandy 4 · 0⤊ 0⤋
Wait. Save up. Don't go into debt.
2007-12-12 15:09:25 · answer #5 · answered by heybulldog 5 · 0⤊ 0⤋