Welcome to InsuranceForums.info!   

Advertisments:


Sponsor Links

Affordable Pet Insurance
Travel Insurance Comparison


Is It Smart For Me To Buy A Car Right Now?

Insurance & Special Deals for Seniors

Is It Smart For Me To Buy A Car Right Now?

Postby dell » Mon Sep 11, 2017 5:25 am

Im 17years old. I work at Little Ceasers, i make about $1000.00 a month. Im a senior in Junior right now but will be a senior next year. I want to buy a Dodge Charger, it costs a total of $12,000.00. If i pay $700.00 a month for a little over a year i will be done paying it. My question is do you think it is a good idea to do this? Like to buy the car, and yes i do need it becasue Im very busy, and need trasportation everywhere almost everyday.
dell
 
Posts: 62
Joined: Wed Jul 31, 2013 9:48 am

Is It Smart For Me To Buy A Car Right Now?

Postby cadabyr » Fri Sep 15, 2017 12:58 am

Ok people A. She said that the automobile was 5k of msrp not 5k whole. In order that puts it around 10k B. The clever fortwo has the perfect mpg of any automobile in this country that's not a hybrid. I'd feel it, I purchased my fortwo 3 months in the past. Its a 2009 that was once a demo mannequin, it was never titled so its technically new and i paid not up to 10k for it so sure it is possible that is legit, exceptionally as dealers transfer out inventory. So far as one of the other posters ignorant feedback if you have not driven one shut up. The transmission is an automated guide, so pushed improperly it's a bit jerky, however the finding out curve is small and is very convenient to pressure, as far as top rate fuel, sure its a ought to, however it increases fuel mileage by way of three mpg over a non top class petrol variant engine making it less expensive to make use of top rate. On the subject of high priced to repair, each panel on the sensible is replacable, no mending or portray, so should you get in a destroy you can replace the complete front end body for beneath 1k. You also lower your expenses as oil changes are only each 10,000 miles. And as you mentioned you understand they are not damaging, fortunately you aren't as ignorant as some other posters. It does have a couple of little quirks, its now not a speed demon, its now not supposed to be, but when your someone who simply enjoys riding and not simply getting from a to b in a toyota then I suppose you must really believe about it. I will say that I traded from a Volvo that used to be over forty five,000 new and the seats in my wise are extra secure. I like mine, and i've never met a further owner who didnt love theirs.
cadabyr
 
Posts: 506
Joined: Fri Apr 01, 2011 9:31 am

Is It Smart For Me To Buy A Car Right Now?

Postby Laurenz » Sat Sep 16, 2017 6:48 pm

if you dont have to pay for bills like light rent heat then SURE i think you Should. once you pay it off all youll be paying is for insurance and gas

and the Chrysler Group (dodge, jeep, chrysler, fiat) isnt really known for their great gas milage or reliability
Laurenz
 
Posts: 43
Joined: Mon Jan 20, 2014 9:03 am

Is It Smart For Me To Buy A Car Right Now?

Postby sion » Mon Sep 18, 2017 2:45 am

Do you have any other expenses? Will you be paying insurance and gas? Because I suspect those will be killer.

Honestly, I think you're better off with something a bit cheaper. Besides, there are better options than a Charger.
sion
 
Posts: 77
Joined: Mon Jun 17, 2013 8:28 pm

Is It Smart For Me To Buy A Car Right Now?

Postby Beamer » Mon Sep 18, 2017 11:20 pm

Im 17years old. I work at Little Ceasers, i make about $1000.00 a month. Im a senior in Junior right now but will be a senior next year. I want to buy a Dodge Charger, it costs a total of $12,000.00. If i pay $700.00 a month for a little over a year i will be done paying it. My question is do you think it is a good idea to do this? Like to buy the car, and yes i do need it becasue Im very busy, and need trasportation everywhere almost everyday.
Beamer
 
Posts: 45
Joined: Sun Feb 02, 2014 12:15 am

Is It Smart For Me To Buy A Car Right Now?

Postby Thrythwig » Wed Sep 20, 2017 10:55 pm

Your math doesn't add up.

First off. If you only earn $1000 a month how can you make $700 payments on a car. That doesn't even leave you enough money every month for gas, let alone insurance and maintenance costs.


You are forgetting to include the interest charges on the loan. When you borrow $12,000 you don't pay back $12,000 you pay back $12,000 plus interest.
Depending on what interest rate you are given that finance charge could be as high as $1000-$2500.


Banks don't write loans for one year. The shortest car loan you can get is 3 years.

One last thing. There is no way any bank would approve a loan for $12,000 if you only earn $1000 a month. Your low income cannot support a $12,000 debt. At best they would approve you for $6500-$7500, but not $12,000.


You can buy a very nice used car for $6500 but it won't be a V8 Dodge Charger.
Thrythwig
 
Posts: 47
Joined: Fri Apr 18, 2014 7:54 am


Return to Seniors Insurance

 


  • Related topics
    Replies
    Views
    Last post