Is it really unheard of to buy a car at 17 years of age? So here is the situation, I can budget in a new car since I live at home and pay little on bills. And with a car in my budget I have plenty to cover extra costs, such as entertainment, food, toys
(I spend a lot on paintball) And if you're still with me thus far; I really appreciate your time...
I make 1400 net (2000 before deductions)
fulltime working 40 hours/wk at 10/hr
661 / mo. for 60 months. 100 mixed with internet and cell.
Taking on a new car I can safely declare; 130/mo insurance, 150 month gasoline. (DID I MENTION ITS A BRAND NEW 09' SUBARU FORESTER?)
I calculate:
1400
-661
-100
-130
-150
Leaves me a comfortable 359/ month for other things.
My theory is the sooner I start paying out a car, the sooner the car is paid off, and I can only use the living at home advantage for so long...
Bottom line, I am new to the game, No credit, father who would be co-signer has cancer has no more credit = bad credit (GREAT BEFORE BEING DIAGNOSED) I appreciate every answer! Take care!
Thanks for the quick replies, I forgot to mention I have real estate in Budapest, that is going to be sold and split between me and my sister. The real estate laws in europe do not allow me to sell apartment until 18 (18 in january).
I completely agree that it is taking on debt at a very young age. And I have considering where I will be in 5 years for some time now its not something that just came to thought. I will most likely be just about finishing post secondary education still living at home with my step mother.
I currently drive a Toyota Tercel 91', it's been great. My father has always and still does say "The best car is a paid car" But I have an envy of others having cars that surpass my cars cabapilites.
And about me wanting a Forester, I was actually get a Outback or other station wagon. I have outdoors in mind. Dad also said "Buy the car for urself, not others"
I shld get bck in school, mised tis year to help bills. Now we get govmnt aid so I can go back :S |