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I need Help buying my first car?
So i'm about to my my first car.
I am 18 and in college.
My tuition is completely free and i get about 5,980 for fasfa.
I have a job that pays $12 - $15 and hour (depends what school) ( i work as a SEA Substitute)
A seasonal job at sees candy making $11 an hour (only holiday months like valentines and christmas
and a two month long internship getting 11$ an hour.
I have read about people getting cars for about $1,000-$8,000. But I know many things can go wrong with those cars and they end up only lasting maybe 1-4 years. which to me is not worth it. I also hear about people getting an old car to get time for saving up for a different one, a more expensive one. (but i dont see a point in that...getting a crap car just to buy time to save...unless thats your only option)
I originally wanted the chevy volt (but i gave up on that when I found out it costs $23,000)
I did find the HONDA fit 2017 for $15,789 or $17,200 (depends on version)
do you think thats a good price? should I go cheaper into the $10,000 or $8,000
I want a car that will last with barely no issues. When I buy the car... its going to be the one i use for a long time. So it needs to be safe...good collision saftey stuff.
I think for the price the honda fit offers alot
Side cameras for switching lanes, back camera, push to start, and the size is great...cause it fits by bike.
The fit is also electric...so i won't need to spend money on gas.
Also I only pay 200$ for rent...i would be paying about $350(lowest)-$410(highest) per month
The school district is a full time job
3 Answers
- Anonymous4 years ago
You gave us all kind of information we don't need and left out the most important question.
How much cash do you have ? That's what you can afford.
You cannot finance as an 18 year old without a full time job. (not an assortment of seasonal part time jobs)
13 years ago I bought a car for about $2100. It lasted me over 12 years and was still going strong when I sold it for $1595 about 8 months ago.
My newer car cost me $8800 and I expect it will last me at least 10-15 years. Id be very disappointed if it doesn't.
So you want a new car. I get it. But don't even try to convince yourself that you NEED one.
PS, 13 years ago, I was a millionaire and I got by with a $2100 car for all those years. Now, I'm still a millionaire and my current car depreciated in the last 8 months more than I expected so its a $7500 car at best. But I will be darned if it wont last me until years after you graduate or quit. (Not everyone graduates, I didn't)
- TheRealLv 64 years ago
Not gonna happen. As Never stated, you have a bunch of part-time jobs. Your student loan refunds will not count, as they are actually DEBT. You can't use debt to show income.
You need to realize that lenders require no less than six months of full-time employment history, and a minimum verifiable income of at least $1700-$2000 per month, in addition to sufficient credit/credit history. Not meeting income requirements is going to get you denied automatically.
In addition, you'll need to obtain full coverage insurance, which will be just as much as, if not more than, your payment. You'll also have maintenance, upkeep, and gas to pay for.
Sorry it's not what you wanted to hear.
Source(s): 17 years retail auto sales experience. - KayleenRLv 74 years ago
You dont need a car with all that saftey stuff. A reasonable car should cost you about $1500
