Want a new car, how long should I wait until its a better idea?
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Thread created 08-27-2012 by aab0908
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Just out of curiosity... does she have a fully funded 401k (17k)? plus Roth IRA/IRA (5k)? If she can answer an affirmative to the above, and not carry any consumer debt, your sister should buy all...
Want a new car, how long should I wait until its a better idea?
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Thread created 08-27-2012 by aab0908
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And I do realize that it's stupid that I want a car payment that's at least the same of not more than my rent, but I live in a crappy student apartment with 3 other people. If I didn't need a place...
Want a new car, how long should I wait until its a better idea?
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Thread created 08-27-2012 by aab0908
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I'm not going to comment on the rest but if I were you I'd get the name of a few dealerships in your area and call them and ask to speak to their "fleet manager". See what they will sell you the car...
Want a new car, how long should I wait until its a better idea?
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Thread created 08-27-2012 by aab0908
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how long have you been at your fulltime job. you only mentioned the part time gig.
On paper you might be able to get approved but imho you shouldnt get the car.
Want a new car, how long should I wait until its a better idea?
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Thread created 08-27-2012 by aab0908
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I don't think OP might want to hear that he shouldn't get what he wants. A compromise might be getting a little better used car instead of the new one. 4 or 5K can be paid off a lot faster than...
Want a new car, how long should I wait until its a better idea?
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Thread created 08-27-2012 by aab0908
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You can't afford a new car.
Want a new car, how long should I wait until its a better idea?
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Thread created 08-27-2012 by aab0908
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38 Replies
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EDIT: misread post
Want a new car, how long should I wait until its a better idea?
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Thread created 08-27-2012 by aab0908
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He wasn't telling the OP what he wants, he was rephrasing the OP's proposal. He even pushed him the same direction as you, with less than 1/3 salary...
Want a new car, how long should I wait until its a better idea?
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Thread created 08-27-2012 by aab0908
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Until you can write a check for it.
Want a new car, how long should I wait until its a better idea?
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Thread created 08-27-2012 by aab0908
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a 5k car is fun in some ways because you dont have to worry about dings and scratches plus you get cheap insurance. ive seen '01+ civics with 130k miles for $4k. thats not really roughing it and...
Want a new car, how long should I wait until its a better idea?
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Thread created 08-27-2012 by aab0908
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buy a $7000 car instead, until you save up $27000 cash
you'll be a lot happier
ask me how i know
Want a new car, how long should I wait until its a better idea?
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Thread created 08-27-2012 by aab0908
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I want a Mini Cooper Roadster Base model but yeah I decided to wait. Since it is a new model, I can't get an older (cheaper) one. Also with my job knocking off $1500, its makes more sense to get a...
Want a new car, how long should I wait until its a better idea?
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Thread created 08-27-2012 by aab0908
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Sorry, just saw this. Up to the first $30k.
Emergency fund should typically be 6 months of expenses and not income. That can typically be stretched in circumstances where someone is laid off...
Want a new car, how long should I wait until its a better idea?
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Thread created 08-27-2012 by aab0908
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When you will can earn enough money then you should buy a car, i think its not perfect time for you.
Want a new car, how long should I wait until its a better idea?
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Thread created 08-27-2012 by aab0908
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:iagree:
a really nice, new shiny one that he can't afford and will probably regret buying.
What about a compromise? 4K may still a beater car. What about 8K with 4K down?
Want a new car, how long should I wait until its a better idea?
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Thread created 08-27-2012 by aab0908
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$4,000 can buy a 2002 or newer Honda Civic with about 165,000 miles or less on it.
Want a new car, how long should I wait until its a better idea?
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Thread created 08-27-2012 by aab0908
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Since it sounds like you know that buying this particular car is not a smart decision financially, I'll save you the 'oh you should buy a cheapass used car' speech.
Instead, I would advice you to...
Want a new car, how long should I wait until its a better idea?
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Thread created 08-27-2012 by aab0908
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Buy a slightly used car.
Want a new car, how long should I wait until its a better idea?
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Thread created 08-27-2012 by aab0908
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Don't do it! I'm going to give you the buy-a-used-car-because-I-am-a-cheapass speech:
Having a new car is wonderful, but it's only "new" until you drive it off the lot. Years go by and your car...
Want a new car, how long should I wait until its a better idea?
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Thread created 08-27-2012 by aab0908
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I admire your paradigm of behavioral economics.
Want a new car, how long should I wait until its a better idea?
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Thread created 08-27-2012 by aab0908
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The car I want is $27,000 but I get a discount through my job that takes off $1,500. I have $4000 set aside for a down payment. I may also get $500 off because of a student program but Im not sure...
Want a new car, how long should I wait until its a better idea?
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Thread created 08-27-2012 by aab0908
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The better idea would be go for the new to you 2K-3K range. Pay for cash and you still have 1K leftover.
Want a new car, how long should I wait until its a better idea?
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Thread created 08-27-2012 by aab0908
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Think about it this way, you want a car that costs as much as you make in a year.
You need to save more money and figure out how to get yourself a better income. You're tying yourself down with...
Want a new car, how long should I wait until its a better idea?
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Thread created 08-27-2012 by aab0908
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if you want that specific model, definitely check out a certified pre-owned version of it. 3 years old, 1/2-2/3 of the price. still pretty brand spankin new.
and yeah, using your numbers... I...
Want a new car, how long should I wait until its a better idea?
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Thread created 08-27-2012 by aab0908
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wait a lot longer... (sorry)
I think a 27k car is a quite a bit outside your budget.
Want a new car, how long should I wait until its a better idea?
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Thread created 08-27-2012 by aab0908
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Do you HAVE to have that new car? CPO off-lease cars can often be had at a very good deal. You find a nice car with low miles and the bulk of the factory warranty for significantly lower than brand...
Want a new car, how long should I wait until its a better idea?
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Thread created 08-27-2012 by aab0908
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I wouldn't mind the cash route (well, besides that the money would burn a hole in my pocket the entire time lol) except I would like to build up my credit. After all, even though I don't want to buy...
Want a new car, how long should I wait until its a better idea?
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Thread created 08-27-2012 by aab0908
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3 percent up to what amount?
Want a new car, how long should I wait until its a better idea?
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Thread created 08-27-2012 by aab0908
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Actually, this is the best idea in my opinion.
aab0908, you could even spend all $4,000 of your money on a used car and it still be the best option for you.
The brand new car you're talking...
Want a new car, how long should I wait until its a better idea?
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Thread created 08-27-2012 by aab0908
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Are your incomes pretax or post tax?
Do you ever want to move out of the crappy apartment in the next 6-8 years?
Want a new car, how long should I wait until its a better idea?
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Thread created 08-27-2012 by aab0908
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What car do you want? Doesn't matter, but I'm just curious.
Want a new car, how long should I wait until its a better idea?
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Thread created 08-27-2012 by aab0908
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You haven't lived with my husband. We are all about the behavioral economics at times. ;)
Want a new car, how long should I wait until its a better idea?
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Thread created 08-27-2012 by aab0908
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u are asking a financial forum vs asking a dumb..... err ... i mean smart .... chick
you dont care about a car payment then go for it
please report back after 1 year and tell us how much you love...
Want a new car, how long should I wait until its a better idea?
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Thread created 08-27-2012 by aab0908
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HA say what you want. While I personally think leasing is stupid, my sister does have a good head on her shoulders. She just likes nice shiny new cars every couple of years lol. If she has the money...
Want a new car, how long should I wait until its a better idea?
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Thread created 08-27-2012 by aab0908
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I dunno. Everyone says that a car payment will suck. I guess I don't really get that, I've never has a car payment before. Don't you just get used to it? I mean, you get used to paying your rent...
Want a new car, how long should I wait until its a better idea?
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Thread created 08-27-2012 by aab0908
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First, build your credit rating back up in the mid 700's. While you are doing that make sure the company you work for has a match 401k plan and max that out. Next, make sure you have enough money...
Want a new car, how long should I wait until its a better idea?
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Thread created 08-27-2012 by aab0908
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lol @ the shiny car bit.
As for paying cash for a car, I agree and I don't. The general rule of thumb is yes, pay cash.
However, my current credit union offers me 3% interest in my checking...
Want a new car, how long should I wait until its a better idea?
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Thread created 08-27-2012 by aab0908
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You really want to park a brand new car at a crappy apartment?
Want a new car, how long should I wait until its a better idea?
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Thread created 08-27-2012 by aab0908
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OP if you could maybe put more information (the year and model). Reason I say is if the model is a 2013 it will get cheaper going 2014. I for example was looking at a Dodge Dart 2013 and right now...
