I'm 17. Can I afford a $20,000 car or less? I don't want to go over $20,000. While making around $8.50 an hour. I will be making around $250 a week I go to school and I will be graduating next year and moving out of town hopefully to go to college and get another job. Paying way more. I will put the car in
I'm 17. Can I afford a $20,000 car or less? I don't want to go over $20,000. While making around $8.50 an hour. I will be making around $250 a week I go to school and I will be graduating next year and moving out of town hopefully to go to college and get another job. Paying way more. I will put the car in my parents name and insurance so my payments won't be so high. Until I move. And can put it in my name I'm looking at a used 2015 Dodge Challenger sxt base model.
The reason I want a new car like this is to drive 2 hours away and something reliable.
My senior year of high school I bought a camaro. I paid more than that. I was a realtor though. Now I'm in college and I started a buisness and and am still a realtor and am about to finance 35k (after my trafe in value) on a pickup. Do what you can afford. Before my purchases I do alot of research to make sure I can really afford it without problem. Your missing alot of variables in your research. I don't want to discourage your dreams. Work hard, plan your budget, STICK to it! I can continue getting loans, because I never missed a payment. Do NOT get a vehicle and ruin your credit score with missed payments. My final piece of advice think hard before picking a car. I have to buy a vehicle now because I didn't plan ahead years ago. In college you may need four wheel drive, and may need extra room to carry large objects when moving. Keep us updated.
Your insurance will eat up your income then you have fuel repairs phone bill clothes going out etc.
Look for something cheap and economical.
A nice second hand Honda.
Buy the car for cash.
Getting into payment problems at your age will wreck your life for many years if you could find a lender.
Here in the UK I can get a good car under $1000 very easily. Many under 100000 miles.
It should be reliable and in good condition.
Our stricter testing encourages good maintenance as poor maintenance will cause the car to fail. A failed car is worth about $50.
Earning $250 a week, you cant afford a $20 000 car, you need to be looking at one for $1000 max
I couldn't afford that when I was making three times that amount. Stop down thumbing adults that know better and go get an education and a real job.
" I will put the car in my parents name and insurance so my payments won't be so high"
So it won't actually be your car.
At 17 you can't even get a loan to buy a car. Minors can't (legally) sign a contract without both of their parents signatures. A loan is a contract.
No you can't afford it. You don't want to spend all your money on car payments and insurance do you? Get something cheap and wait till you actually have that higher paying job. Then see about a better car.
You mean I shouldn't have paid $1150 cash for my first piece of crap car ? I could have just gotten a brand new one despite the fact that my dad would laugh at me ?
You're an immature punk. You will probably get fired within 6 months.
" i shall put the car in my parents name and insurance "
this is fraud and is illegal………
but it's not going to happen 'cause you for the life of me cannot afford a 20,000 car earning 8………50 an hour………
No and the lwndinf institutions will not loan toibthe money unless your enlisted in the military. A monthly payment on that would be about 320 with full cobweahe insurance another 500
Even without interest on the payments… and yes, there would be about 20% interest.
The 5 year payments on a $20,000 car are $277.78 per month.
Get a reasonable and reliable vehicle in the $7500 to $10000 range.