Could a new driver afford a new car?

Question

By 'new' car, i mean a NEW car like brand new car. This car is a volkswagen jetta priced UNDER 20k. With a job at like Target, or some place in the mall, a restaurant, could a new driver afford a payment and insurance? Just wondering because i want a new car as my first car..ha. im so greedy.

Answer 1

Sure. As long as you have stellar credit (meaning you have an active credit card that you regularly make payments on - and have been making payments on it for some time). As long as you can afford a huge down payment on it, and as long as you are willing to pay around 250 dollars in insurance each month seeing as you are a male under the age of 25. How about be realistic - and get a used car like the rest of the world.  

Answer 2

Nope.

Your debt to income ratio will be too high, for starters.

You are a  high chance for a repo in that sense.

Answer 3

Not sure of your age, where you live, your credit score, driving record b/c those do play a big role in the price of insurance as well as your payment. The larger down payment you could make the better. As far as those places of employment man, you'd have to save for a good year. Maybe 6 months of totally banking your whole check. You're better off getting a previously owned ( used car) first then save up for a new car. If you have a family member that works for any particular automaker they can get you a family discount which could be as much as 15% off the ticket price. I get my Dad's discount from GM as he retired from there. So, as long as it's a new vehicle you can get a good discount. Check around at different dealerships and see what kind of bargains you can get for first time buyers. Like 60 months, 0% financing. blah, blah, blah, Do some research and check around for the best deal even if it's a new/used vehicle Ask plenty of questions and bring a mechanic with you b/c if you don't have questions they will in order to help you make the best decission. Good Luck!  

Answer 4

When I was 17 none of my friends had a new car, and now the only ones with new cars are those with full time jobs.  It's hard to afford payments + insurance.

Do yourself a favor, buy a solid used car- save on insurance, payments, and you'll be even happier when you get that *new* car after getting yourself a *new* job!

Check out websites like driverside.com to see if you can even afford the yearly ownership costs of an automobile- there's more than just payment+insurance.  You need to factor in gas, washes (new cars must stay new looking, otherwise what's the point), and all the toys you'll want to buy for it.

Buy used, drive safe, check out the facts- you'll thank me :)

Answer 5

Sure Just have to have Daddy pay for it

Answer 6

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