Hello everyone,

I don't know if this is the right thing to do or not. I currently work part time (don't get paid much, 9 an hour to be exact, about 14k a year) and I'm wondering if I should buy this car. I live with a parent, I have no bills what-so-ever so I was thinking about purchasing this vehicle. The only thing I'd have to pay is gas and the monthly payment (at least I think, I never bought a car before.. the car I have now is in my father's name) so I need some advice should I go all out or is this a bad idea as this will be my first time buying a brand new vehicle? Give me some scenarios on why this could be a bad idea because I haven't really thought of any bad situations that might pop up, idk any kind of advice is needed. I really want this car but I'm not sure if it's the smartest decision. By the way, I got a lease quote and it'd be and some change monthly but I was also thinking why pay that much for a lease when I can buy it for a little bit more.http://tradevenue.se/



Thank you!

 

That payment would amount to half (or more) of your average take home pay. They recommend when buying a house it not exceed 30ish% and that is generally a larger buy. So, that would be issue number one that I see. You didn't mention insurance/taxes/etc.. for the car either. Living at home helps some, but still seems pretty steep commitment. The choice ultimately is yours.

Bad situations: 1. Your hours are cut, lose your job. 2. Your parents suffer a financial hardship and you have to move out or they need you to contribute for living expenses. 3. You have a falling out with your parents and they kick you out. 4. You meet the significant other of your dreams but can't move forward in your relationship because of your car payment forcing you to live at home.

The choice ultimately is yours.