518
votes
By 18 years of age, I want a brand new car that's $43,668
Based on what you've said, you shouldn't buy this car, and probably can't buy it anyway.
You are saying you earn a total of $1200 a month and have a total of $600 to your name. After four months you ...
- 24k
304
votes
By 18 years of age, I want a brand new car that's $43,668
Your problem isn't that you have no credit. Your problem is that there is no way on earth how you can ever keep up with the payments for this $43,000 car, and there is no way on earth how you can ...
- 22.4k
264
votes
By 18 years of age, I want a brand new car that's $43,668
I did exactly that when I was 2 years older than you. Like you, I made $1200/mo. I was a bit more of a saver but the $3000 down was basically subsidized by my big hearted employer.
I remember the ...
169
votes
How do I lend money to a friend for a car and put the car as collateral?
As a frame challenge to your question, consider that a deposit in your bank is essentially you giving a loan to the bank. Now the bank has money which they can loan to your friend! Yes, you're only ...
- 17k
146
votes
How can I finance a car at 17 years old with no credit or co-signer?
My grandson bought an expensive new car on hire purchase when he was 19. It was a millstone round his neck for several years. It wasn't as expensive as a new Mercedes, but more than I ever spent on a ...
- 22.4k
142
votes
By 18 years of age, I want a brand new car that's $43,668
BrenBarn's answer is pretty darn good—you would do well to follow his advice. My one point of contention is that I think you should get the car.
How long will it take you to save up $43,668? ...
- 76.1k
141
votes
Could I take my car even though my mom says no?
im not sure exactly what the title name is
Well, you need to be, because that and only that determines ownership (in the US, at least).
See Wikipedia: Vehicle title
- 50.6k
120
votes
Should I spend 3/4 of my savings to buy a new car that costs about a year of my annual salary?
If your current savings represents 15 months of salary and the car you are looking at purchasing costs 75% of your current savings, that means that buying a car that costs 11.25 months of your current ...
- 26.5k
117
votes
What are the financial decisions leading to "barn find" automobiles?
So, what are the financial motivations of people who buy cars and let them to rot?
Not every decision in life is based on financial motivations.
Say, for example, it's 1968 and you're tooling around ...
- 50.6k
113
votes
I’m 18 years old and want to finance a £30,000 car
You are talking about spending about a third of all your money on a car and committing to do so for the next 4 years.
As an 18 year-old you have a tidy disposable income and few expenses. But the ...
- 2,112
108
votes
Accepted
Is this car delivery via Ebay Motors on Craigslist a scam?
It's 100% a scam. I help with unresolved cases on PeopleClaim a lot and saw several that are very similar to this. Here's how it works: you send your money by wire or gift card or similar to the "...
- 716
106
votes
Why does Geico ask me not to reveal the limits of my liability coverage in case of a car accident?
Negotiation 101, never be the first to say a number.
You tell them you have a $300,000 limit and magically they want $300,000. Alternatively, they may just assume you carry the minimum.
- 48.9k
98
votes
1 year old car is dead, called the car dealer they can fix it only if I can bring it, what should I do?
The garage probably hasn't understood from your description that the car isn't driveable.
Contact them again and tell them the car is under warranty, it is not driveable, and you want it fixed or ...
- 23.2k
98
votes
My mother co-signed for my car. Can she take it away from me if I am the one making car payments?
The registration (title too, right?) is in your name, the car is yours. You need to decide how to politely tell her this.
90
votes
Accepted
Am I right to believe this online car-purchase opportunity is a scam?
Can I continue with the transaction,
This deal violates at least three of Autoscout24's warnings when buying a car:
"Too good to be true"
If you should come across a bargain that is far ...
- 130k
90
votes
Dealer is pressuring me to return the leased car and lease another car
I feel like they are pressuring me to do something I don't want to.
Not to mention they are literally calling my number twice a week
leaving a voicemail.
Of course they are, they want to make money ...
- 69.1k
85
votes
Accepted
Did my insurance company scam me when they paid less for my car than I saw it selling for at a used car dealership later?
It does not sound like a scam to me, and actually quite normal.
Assuming you did not overpay for the car, receiving 50% of the purchase price for a 5 year old car is pretty generous. If you actually ...
- 76.1k
80
votes
Should I buy a car if otherwise transportation is free?
I recommend you wait until you get to Pittsburgh before you decide. Start without a car, and then you can take some time to decide if not having a car is too inconvenient.
In addition to buying and ...
- 115k
79
votes
By 18 years of age, I want a brand new car that's $43,668
Step 1: Start saving like you said you would.
You said you could stop spending, and start piling up your paychecks into your bank account. Start doing that now.
Step 2: Become an authorized user on ...
- 2,288
79
votes
How can I support myself financially as a 17 year old with a loan?
There are two ways to improve your personal finances:
Make more money
Spend less money
That's literally the secret. To afford the car, you either need more income, or lower expenses. Don't fret, ...
- 24k
68
votes
Accepted
Car as a good investment
A few points.
You may be interested in this website which helps you calculate the total cost of car ownership, and factors in things like insurance, gas, mileage, repairs, registration, etc... These ...
- 2,582
68
votes
Can a used car dealership switch the price I saw online vs going in and getting a different price?
It doesn’t matter whether it is legal or not. What matters is that this car dealer is trying to rip you off, so you tell them where they can stick their car and buy your car elsewhere. You definitely ...
- 22.4k
68
votes
Accepted
Car buyer wants to pay by actual cash - what are the motivations and risks?
There are many reasons someone may want to pay in cash, from the innocuous (maybe a mild dislike of banks) to the nefarious (most common probably being doing work for cash under the table, paying no ...
- 41.8k
67
votes
My mother co-signed for my car. Can she take it away from me if I am the one making car payments?
"Her solution to the problem is to take my car" - i.e. THEFT. If you are on the title, it is your car. A cosigner has no right to the item purchased - all he did was guarantee the loan in case the ...
- 11.6k
67
votes
Accepted
Can a used car dealership switch the price I saw online vs going in and getting a different price?
I had a dealer try this stunt on me once. I had offered $17K, they had agreed. Then they brought paper work that pushed the price up to almost $18,500. I told them my deal was for 17K and I didn't ...
- 893
66
votes
Accepted
Is there any way to buy a new car directly from Toyota without going through a dealership?
No you can't buy direct from Toyota. Largely because of many states' laws (assuming you're in the US) requiring a dealer relationship for car purchasing, read about Tesla's struggles with direct to ...
- 48.9k
63
votes
Do rental car agencies sell their cars at a time when it is risky for the purchaser?
My mother worked for one of the major American car rental companies. She talked about this topic with me and my answer will summarize the talk.
Does the fact that they sell the car mean during this ...
- 2,680
63
votes
Why does Geico ask me not to reveal the limits of my liability coverage in case of a car accident?
It isn't just GEICO that tells you this, every US car insurance company instructs their customers to not mention the amount of coverage.
Your job is not to negotiate. Your job is to collect the ...
- 136k
63
votes
My mother co-signed for my car. Can she take it away from me if I am the one making car payments?
The car is yours, your name is on the title, and you are insuring it based on you being the driver (not her). You are responsible for parking tickets and toll evasion. Any arrangement you might do ...
60
votes
Accepted
how to justify the higher price of luxury cars in comparison to their counterpart and when test driving these vehicle what specifically to look for
Since this hit HNQ, I'll move this warning to the top to make sure everyone sees it: Do not buy more car than you can afford. Figure out how much you're willing to spend ahead of time—make sure you ...
- 1,348
Only top scored, non community-wiki answers of a minimum length are eligible