What's it like to pay monthly for a car....?
03-02-2016, 05:52 PM
#32
I call it mine since I get the single garage door since we have a 3 car garage lol
03-03-2016, 06:13 AM
#33
I don't want to rag on you too hard because frankly, I would put you in the category of people that I have a high level of respect for considering you're:
1. work, instead of being a lazy bum and just straight mooching off your parents, you're at least taking advantage of the opportunities you have because of that
2. understand that debt it bad
3. have a legitimate plan in the grand scheme of things
4. understand that education is important
5. are into the business side of things, failed or not
But you need to be careful when you transition out of your parents' house. There is going to be a lot of cost coming and even though you do the math and you come out ahead I can promise you life doesn't work that way. And you'll have a LOT of added risk if you're holding onto those car payments, but if they're paid off before then then it's gravy, but I wouldn't jump into a sweet new mercedes for $700/mo "because I handled a $700 payment before, why wouldn't I be able to now?"
The fact that you say you FEEL like your barely making it is the scary part, considering we don't know your life story of all the details of things, and only what you've shared.
1. work, instead of being a lazy bum and just straight mooching off your parents, you're at least taking advantage of the opportunities you have because of that
2. understand that debt it bad
3. have a legitimate plan in the grand scheme of things
4. understand that education is important
5. are into the business side of things, failed or not
But you need to be careful when you transition out of your parents' house. There is going to be a lot of cost coming and even though you do the math and you come out ahead I can promise you life doesn't work that way. And you'll have a LOT of added risk if you're holding onto those car payments, but if they're paid off before then then it's gravy, but I wouldn't jump into a sweet new mercedes for $700/mo "because I handled a $700 payment before, why wouldn't I be able to now?"
The fact that you say you FEEL like your barely making it is the scary part, considering we don't know your life story of all the details of things, and only what you've shared.
03-03-2016, 07:22 PM
#34
I'm missing what you need a car for in college unless you're commuting. $700-- one time -- will buy a car capable of that. Leaving a convertible (any convertible) on campus is asking for trouble.
-- Chuck
-- Chuck
03-04-2016, 04:53 AM
#35
I don't want to rag on you too hard because frankly, I would put you in the category of people that I have a high level of respect for considering you're:
1. work, instead of being a lazy bum and just straight mooching off your parents, you're at least taking advantage of the opportunities you have because of that
2. understand that debt it bad
3. have a legitimate plan in the grand scheme of things
4. understand that education is important
5. are into the business side of things, failed or not
But you need to be careful when you transition out of your parents' house. There is going to be a lot of cost coming and even though you do the math and you come out ahead I can promise you life doesn't work that way. And you'll have a LOT of added risk if you're holding onto those car payments, but if they're paid off before then then it's gravy, but I wouldn't jump into a sweet new mercedes for $700/mo "because I handled a $700 payment before, why wouldn't I be able to now?"
The fact that you say you FEEL like your barely making it is the scary part, considering we don't know your life story of all the details of things, and only what you've shared.
1. work, instead of being a lazy bum and just straight mooching off your parents, you're at least taking advantage of the opportunities you have because of that
2. understand that debt it bad
3. have a legitimate plan in the grand scheme of things
4. understand that education is important
5. are into the business side of things, failed or not
But you need to be careful when you transition out of your parents' house. There is going to be a lot of cost coming and even though you do the math and you come out ahead I can promise you life doesn't work that way. And you'll have a LOT of added risk if you're holding onto those car payments, but if they're paid off before then then it's gravy, but I wouldn't jump into a sweet new mercedes for $700/mo "because I handled a $700 payment before, why wouldn't I be able to now?"
The fact that you say you FEEL like your barely making it is the scary part, considering we don't know your life story of all the details of things, and only what you've shared.
PS: I never added in my expensive taste for food which is probably 1/3 my income. Which causes me to feel like I'm barely making it xD This is a lifestyle that I'm only choosing because my parents are letting me live with them until I finish school. I'm the kind of person that can switch gears and be super frugal. Anyways that $700/month payment is what I feel like I can afford to pay, of course I could always pay less like around $250/month, but then that would just drag on the loan forever. By the time I graduate with my double major, I'll have everything paid off and be in the clear.
I have an 05 toyota camry that I daily drive to work and elsewhere. (This car is a tank, been in 9 not-at-fault accidents and still trucking along). I work as a vendor so I usually have to travel a lot on the weekends. Without the cars I'd have to walk from Portland OR to Seattle WA, now that'd be silly right??
I commute to campus, so I usually either bus, take the lightrail, or drive, whichever I feel like. I'm very well aware of the troubles with a convertible, or any car on campus for the matter. With my miata, it got a record of like 39 door dings on the passenger side in a span of 2 months..
07-14-2017, 07:47 AM
#36
Some of the best advice I could give is to not take out a loan for it. Save the money and buy it cash. I know the Americanized "I want it now!!!" is hard to overcome, but you will save on so many aspects. Namely, no interest will be paid, and your insurance coverage can be whatever you want it to be. If it is financed, your loan holder will require full coverage. full coverage and under 25 years old in an S2000; it's going to be high.
I agree credit is needed in our society, but it is HIGHLY overrated. Build a good credit score by getting a gas card or something else you can pay off easily monthly. Once your credit is up to snuff, save save save. Pay cash for everything. You would be amazed at how much better of deals you can get with cash. This applies to everything that can be purchased with some margin of wiggle room.
What it all boils down to is to not get sucked into the debt storm. It is a path to living paycheck to paycheck, and that is unneeded stress.
I agree credit is needed in our society, but it is HIGHLY overrated. Build a good credit score by getting a gas card or something else you can pay off easily monthly. Once your credit is up to snuff, save save save. Pay cash for everything. You would be amazed at how much better of deals you can get with cash. This applies to everything that can be purchased with some margin of wiggle room.
What it all boils down to is to not get sucked into the debt storm. It is a path to living paycheck to paycheck, and that is unneeded stress.
06-17-2018, 10:46 AM
#37
I don't want to rag on you too hard because frankly, I would put you in the category of people that I have a high level of respect for considering you're:
1. work, instead of being a lazy bum and just straight mooching off your parents, you're at least taking advantage of the opportunities you have because of that
2. understand that debt it bad
3. have a legitimate plan in the grand scheme of things
4. understand that education is important
5. are into the business side of things, failed or not
But you need to be careful when you transition out of your parents' house. There is going to be a lot of cost coming and even though you do the math and you come out ahead I can promise you life doesn't work that way. And you'll have a LOT of added risk if you're holding onto those car payments, but if they're paid off before then then it's gravy, but I wouldn't jump into a sweet new mercedes for $700/mo "because I handled a $700 payment before, why wouldn't I be able to now?"
The fact that you say you FEEL like your barely making it is the scary part, considering we don't know your life story of all the details of things, and only what you've shared.
1. work, instead of being a lazy bum and just straight mooching off your parents, you're at least taking advantage of the opportunities you have because of that
2. understand that debt it bad
3. have a legitimate plan in the grand scheme of things
4. understand that education is important
5. are into the business side of things, failed or not
But you need to be careful when you transition out of your parents' house. There is going to be a lot of cost coming and even though you do the math and you come out ahead I can promise you life doesn't work that way. And you'll have a LOT of added risk if you're holding onto those car payments, but if they're paid off before then then it's gravy, but I wouldn't jump into a sweet new mercedes for $700/mo "because I handled a $700 payment before, why wouldn't I be able to now?"
The fact that you say you FEEL like your barely making it is the scary part, considering we don't know your life story of all the details of things, and only what you've shared.
- Graduated college last year.
- Quit my retail job after deciding that I couldn't stand around all day for $17/hr.
- Paid off 40k in student loans.
- The software start up that I founded during school, is finally generating decent income.
- Obtained a large amount of money from this said start up.
- Paid off ALL of my debt ($16k in CC's but I leveraged this money and my S2K which had a $7.5k payoff at the time)
- Invested in Crypto and lost half my money I invested.
- Saving for a house so I can get my sister zoned into the right school zone.
- Still living at home with parents (by choice on both sides), since we don't find it necessary for me to be paying someone else $1700 a month for rent.
Paying monthly for a car is fine if you have it worked out in the grand scheme, and aren't doing paycheck to paycheck.
06-17-2018, 04:06 PM
#38
Way to go man, keep it up.
2 year update for anyone who cares:
- Graduated college last year.
- Quit my retail job after deciding that I couldn't stand around all day for $17/hr.
- Paid off 40k in student loans.
- The software start up that I founded during school, is finally generating decent income.
- Obtained a large amount of money from this said start up.
- Paid off ALL of my debt ($16k in CC's but I leveraged this money and my S2K which had a $7.5k payoff at the time)
- Invested in Crypto and lost half my money I invested.
- Saving for a house so I can get my sister zoned into the right school zone.
- Still living at home with parents (by choice on both sides), since we don't find it necessary for me to be paying someone else $1700 a month for rent.
Paying monthly for a car is fine if you have it worked out in the grand scheme, and aren't doing paycheck to paycheck.
- Graduated college last year.
- Quit my retail job after deciding that I couldn't stand around all day for $17/hr.
- Paid off 40k in student loans.
- The software start up that I founded during school, is finally generating decent income.
- Obtained a large amount of money from this said start up.
- Paid off ALL of my debt ($16k in CC's but I leveraged this money and my S2K which had a $7.5k payoff at the time)
- Invested in Crypto and lost half my money I invested.
- Saving for a house so I can get my sister zoned into the right school zone.
- Still living at home with parents (by choice on both sides), since we don't find it necessary for me to be paying someone else $1700 a month for rent.
Paying monthly for a car is fine if you have it worked out in the grand scheme, and aren't doing paycheck to paycheck.
07-30-2018, 12:55 PM
#39
Registered User
2 year update for anyone who cares:
- Graduated college last year.
- Quit my retail job after deciding that I couldn't stand around all day for $17/hr.
- Paid off 40k in student loans.
- The software start up that I founded during school, is finally generating decent income.
- Obtained a large amount of money from this said start up.
- Paid off ALL of my debt ($16k in CC's but I leveraged this money and my S2K which had a $7.5k payoff at the time)
- Invested in Crypto and lost half my money I invested.
- Saving for a house so I can get my sister zoned into the right school zone.
- Still living at home with parents (by choice on both sides), since we don't find it necessary for me to be paying someone else $1700 a month for rent.
Paying monthly for a car is fine if you have it worked out in the grand scheme, and aren't doing paycheck to paycheck.
- Graduated college last year.
- Quit my retail job after deciding that I couldn't stand around all day for $17/hr.
- Paid off 40k in student loans.
- The software start up that I founded during school, is finally generating decent income.
- Obtained a large amount of money from this said start up.
- Paid off ALL of my debt ($16k in CC's but I leveraged this money and my S2K which had a $7.5k payoff at the time)
- Invested in Crypto and lost half my money I invested.
- Saving for a house so I can get my sister zoned into the right school zone.
- Still living at home with parents (by choice on both sides), since we don't find it necessary for me to be paying someone else $1700 a month for rent.
Paying monthly for a car is fine if you have it worked out in the grand scheme, and aren't doing paycheck to paycheck.
07-30-2018, 01:15 PM
#40
No credit + >10 year old car = not likely to get approved. If you do find financing then grabbing your ankles will be a part of it. Better to buy the cheapest possible NEW car if you can't pay cash. Banks love to give credit cards to college kids so in due time you will have plenty of opportunities for credit.
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