Opinions please!?

Question

I'm 19. Would it be better for me to buy a NEW car, and pay on it monthly. Or buy a used, crappy car and pay for it all at once? I'm trying to show my parents what would be best for me. I'm for the first option. What do you all think? Please give pros and cons for both!

Answer 1

A new car has no problems. Everything about it is brand new and therefore you won't have to worry about any headaches any time soon.

I wouldn't buy a new car unless I have a lot of money and I can buy it cash. I'm a safe driver, and I lost a car at an accident before. It was damaged beyond repair.

So if you buy a new car, can you afford to drive it and pay for it with the rising cost of fuel?

Answer 2

Get out of Debt....Stay out of debt....If you don't understand this principle,,,You will understand it in the future.

Life's lessons are hard.

Answer 3

Well, I know from your shoes what you're doing. I'm 22. When I was 16 and had a part time job at home depot I had no other bills I convinced my dad to take me to toyota dealership and if the payment was low enough to cosign for me. Then we got to that point, my dad sat with me for 5 hours going through cars and pre-paperwork and then reminded me about insurance. (he knew I wouldn't get a car-but sat there and let me learn it on my own) So, pretty much it went no where. I ended up buying a 92 corrolla from the streets for 1000.00 and had it for 2 years till I upgraded to a 2000 pontiac grand am that I paid $4000 and had that for 2 years and then finally when I turned 21 I bought a 2007 toyota. A week later my job closed...and I was now stuck with a 5 year car payment.

A new car rocks, but there is higher insurance, and higher license plate cost every year. Don't forget you're 19-which means in a few short years you're going to have an apartment or house with a MULTITUDE of other bills such as food, heat, light, water, garbage, internet, phone, cellphone, t.v., shopping....can a car payment, insurance and gas all fit in that kind of a budget REALISTICALLY?

Are you a steadily employed person who even when not working will make that car payment every month NO MATTER WHAT? If any answer you had to think about, get a crappy beater for awhile and work your way up. Or even like a mid 2000's car like an 2002 or 2003. New cars will always be around, and you can even wait another year until the newer models come out and the used are getting cheaper. If you have your heart really set on a new car and you know you can swing it-shop in November-December months, before the dealers have to pay taxes on their unsold cars. They're willing to go lower priced to get the car off the lot.

Good luck to you!