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philopower, I have to give credit where credit is due.
I just hope the inevitable "HELP! Car payment is due and I have no money and mom kicked me out!!" thread is as entertaining as this one.
My mom loves me to death so that would never happen. She's one of those mothers that wants her child to live with her forever, I'm actually doing her a favor by living with her because she does not want to live alone. Thanks for everyone's advice though. I realized that 25k is too much so I'm going to keep it at 20 or less so this thread was somewhat productive and helpful.
07-24-2015, 09:06 AM
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n/a posts
Sounds like you're at least being somewhat more responsible. I'd probably lower the budget even more. You can get a brand new Fiesta for < $15k that'll get you around comfortably and reliably.
I spent grad school driving around in a car that leaked (and I live in the Pacific NW, where it rains nearly every day for months), didn't have functioning AC, and routinely needed maintenance to keep it on the road, so I can sympathize with not wanting to drive a piece of junk, but you don't want to go overboard either. And whatever you do, don't let it become a habit. I have coworkers who drove new cars in college, then once they got a job, felt they really deserved a BMW. Now they complain about their lack of money.
Just my 2 cents----I would try to avoid debt as much as possible at any point in life. However, the OP image does matter in such a profession. Driving a beater might not be the best thing at this point......just to consider.
He's in law school, not a lawyer. At this point, it doesn't matter.
Sounds like you're at least being somewhat more responsible. I'd probably lower the budget even more. You can get a brand new Fiesta for < $15k that'll get you around comfortably and reliably.
I spent grad school driving around in a car that leaked (and I live in the Pacific NW, where it rains nearly every day for months), didn't have functioning AC, and routinely needed maintenance to keep it on the road, so I can sympathize with not wanting to drive a piece of junk, but you don't want to go overboard either. And whatever you do, don't let it become a habit. I have coworkers who drove new cars in college, then once they got a job, felt they really deserved a BMW. Now they complain about their lack of money.
Lol! I'm trying to avoid the fiesta, that's what I have right now and I'm miserable in it. Though yeah I might go even lower, it seems I can get a brand new altima for cheaper than 20k with some negotiation. I'm not one of those luxury car people, my dream car is a jeep so yuh that shows my taste.
I would suggest that you take a cheaper/used car, since it's only intended to commute and it's not like you're commuting that far. The money you are saving could be put away to just pay off your debt already. Personally, if I can help it (which you can in this scenario), I'd focus on paying off my debt first before incurring another big one.
Lol! I'm trying to avoid the fiesta, that's what I have right now and I'm miserable in it. Though yeah I might go even lower, it seems I can get a brand new altima for cheaper than 20k with some negotiation. I'm not one of those luxury car people, my dream car is a jeep so yuh that shows my taste.
I just have hard time understanding a student's perspective of being "miserable" in a car. I assume it has working air conditioning in the Texas heat?
You need a car to get you from point A to B, preferably one that doesn't leave you stranded on the side of the road. If its the spaciousness you covet, your commute is very short in the grand scheme of things. Put up with the "misery" for a couple years, finish school, and then look at taking on more debt when you have the income to back it up. In the mean time, pay off your other outstandings loans with your stipend since you have no livings expenses while you're commuting from home.
I'll be surviving on scholarship money + outside funds which will amount to 9k a semester. I'll also be working full time in the summers. Also I'm living at home so no living expenses.
Quote:
Originally Posted by philopower
Mom is co-signing.
Short answer is HELL NO.
1.) Never buy a new car, the used model that's 1 - 2 years old usually looks the same as the current year model. Shop online and examine the CarFax, make sure the car is in good condition, this will reduce the buying costs.
2.) You have no real income right now. You need to be buying a car that costs no more than $2,500 - $5,000. The point of the car is to get from Point A to Point B, period. You would get basic liability insurance on this vehicle. Nothing fancy here, just a basic vehicle to get from Point A to Point B.
Your values are out of line, focus on becoming a successful lawyer and being SOLIDLY in the middle class before you look at buying ANY car that's over $10,000.
I just have hard time understanding a student's perspective of being "miserable" in a car. I assume it has working air conditioning in the Texas heat?
This is what I'm thinking. I didn't have a car at all in college. I had to take the bus in an area that was not transit friendly.
Quote:
Originally Posted by aus1ander
You need a car to get you from point A to B, preferably one that doesn't leave you stranded on the side of the road. If its the spaciousness you covet, your commute is very short in the grand scheme of things. Put up with the "misery" for a couple years, finish school, and then look at taking on more debt when you have the income to back it up. In the mean time, pay off your other outstanding loans with your stipend since you have no livings expenses while you're commuting from home.
Agreed. I don't see what the big deal is. Does the OP live in his car or something?
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