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 ...
BrenBarn's user avatar
  • 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 ...
gnasher729's user avatar
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 ...
Harper - Reinstate Monica's user avatar
168 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 ...
dwizum's user avatar
  • 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 ...
gnasher729's user avatar
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? ...
Pete B.'s user avatar
  • 76.5k
142 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
RonJohn's user avatar
  • 50.7k
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 ...
Justin Cave's user avatar
  • 27.3k
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 ...
RonJohn's user avatar
  • 50.7k
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 ...
Mark Perryman's user avatar
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 "...
George's user avatar
  • 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.
quid's user avatar
  • 49k
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 ...
Vicky's user avatar
  • 24k
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.
JTP - Apologise to Monica's user avatar
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 ...
D Stanley's user avatar
  • 135k
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 ...
Hart CO's user avatar
  • 70.5k
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 ...
Pete B.'s user avatar
  • 76.5k
79 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 ...
Ben Miller's user avatar
  • 116k
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 ...
BlackThorn's user avatar
  • 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, ...
Rocky's user avatar
  • 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 ...
Dugan 's user avatar
  • 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 ...
gnasher729's user avatar
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 ...
Grade 'Eh' Bacon's user avatar
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 ...
TomTom's user avatar
  • 11.5k
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 ...
boatcoder's user avatar
  • 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 ...
quid's user avatar
  • 49k
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 ...
Lan's user avatar
  • 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 ...
mhoran_psprep's user avatar
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 ...
Harper - Reinstate Monica's user avatar
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 ...
Kevin's user avatar
  • 1,348

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