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
100
votes
Could a business be structured around Multi-level Marketing, yet still be ethical?
Multi-Level Marketing is viewed as unethical for (generally) two reasons:
Many MLM's require you to 'buy in' at a certain amount, often paying some of that buy-in to the person who recruited you. For ...
- 42k
96
votes
My parents claim they cannot pay for my college education; what are my options?
Some folks have touched on this, but I wanted to make sure I emphasize this. Getting a college degree does not require going into massive debt. In fact it doesn't require debt at all. Here are some ...
- 1,517
84
votes
Accepted
Could a business be structured around Multi-level Marketing, yet still be ethical?
Why are there claims that MLMs are unethical?
Because they work much like a pyramid scheme. Members don't make money by selling product, but by recruiting others into the scheme who then recruit ...
- 1,657
82
votes
Accepted
My parents claim they cannot pay for my college education; what are my options?
You really have only three options (leaving out somehow legally forcing them to pay, about which I know nothing). I'm also assuming you're in the US.
Somehow get enough in scholarships and grants to ...
- 11.2k
54
votes
I’m 18 years old and want to finance a £30,000 car
Personal experience-
I did the math. I had enough. I bought the car. I LOVED that car. I had FUN.
Nothing went wrong. I paid everything I had to as it was due. Luck was on my side.
At the end ...
- 411
53
votes
My parents claim they cannot pay for my college education; what are my options?
It seems everyone has left one conspicuous option unspoken:
Don't go to college.
Let me be clear. I am not saying you should not go to college, but it is important to remember that not going to ...
- 2,288
44
votes
Accepted
Is it a good time to replace my used car?
While ultimately this is a matter of opinion, the major factors in this decision are the cost of what you'll replace it with and how important reliable transportation is to you.
$1470/year is not an ...
- 69.1k
42
votes
Credit score and financing new car
CC debt is My Hair Is On Fire!! debt, because the interest rate is so high.
So... yes, you should pay that off first (unless you like subsidizing my 1.5% Cash Back Rewards and "Fat Cat Bankers" while ...
- 50.6k
38
votes
I’m 18 years old and want to finance a £30,000 car
The answer, of course, is "no" to the Audi. But you already knew that.
I applaud your willingness to ask the question.
Here is a decent article: Opinion: The road to riches is this simple: Drive a ...
- 76.1k
35
votes
Accepted
Leased a car but did not use the mileage - what options do I have
The most important question is: What's your buyout price and what's your car worth?
If your 3 year old car has less than 5K miles on it, most likely it's worth more than your buyout price. If it's a ...
- 47.2k
30
votes
My parents claim they cannot pay for my college education; what are my options?
Divorce records are public. Go to the county Clerk's office and read through all the documents (Divorce Decree, Property Settlement, etc). It'll be depressing, but that'll show how much your father ...
- 50.6k
25
votes
Accepted
Should I buy or lease a car given that its not a super luxury car and I only drive 15 miles/d on avg?
I have a few recommendations/comments:
Consider keeping your current car. The buyout amount for your lease is often negotiable. Tell the dealer you are NOT going to be leasing or buying a new car ...
- 24k
22
votes
My parents claim they cannot pay for my college education; what are my options?
My wife and I have six children who are in college or have graduated. So far, with almost no financial help from us, they have earned 4 Bachelors degrees, a Masters degree, and an Associates degree (...
- 320
22
votes
Buying new car at 18
Remember who you're asking: Personal Finance and Money. Many of us are older (meaning "parents"), and financially conservative (meaning "live below your means" and "don't spend a lot on a car until ...
- 50.6k
21
votes
My parents claim they cannot pay for my college education; what are my options?
This may or may not answer the question, but is far too long for a comment.
Many people's parents do not pay their children's tuition in full in the US. I'm writing this as if your parents will not ...
- 1,857
20
votes
Credit score and financing new car
You're asking several related questions - about credit scores, how to use cash, and how to buy a vehicle.
If we break them all down and start with what to do with your $5k in cash - it makes sense to ...
- 17k
17
votes
I’m 18 years old and want to finance a £30,000 car
There is similar question By 18 years of age, I want a brand new car that's $43,668
But because of the deposit and young age I think it deserve new answer so more people can use it.
Your whole ...
- 2,356
15
votes
Leased a car but did not use the mileage - what options do I have
I'd go with option #3 and pretend that the first two options were never even on the table. All things are negotiable, especially in dealerships! A dealer will NEVER send you away if you are willing ...
- 574
13
votes
Could a business be structured around Multi-level Marketing, yet still be ethical?
Is an MLM fundamentally unethical?
The way to make money in an MLM is to recruit other people to join the organization, who recruit others, etc. You then get a percentage of their sales. People at ...
- 22k
12
votes
Is it a good time to replace my used car?
Here's one option - figure out how much of a car payment you can afford, and start saving that today. Take your repair costs out of that fund. Continue saving until you have enough to and buy a used ...
- 131k
11
votes
Could a business be structured around Multi-level Marketing, yet still be ethical?
Everyone has already addressed the problems with MLM, but I thought I would address the edit you just made:
I know that the commonly cited downsides to MLM as users have mentioned is concerning the ...
- 286
10
votes
Accepted
How can I survive the economic crisis I see will hit Argentina soon?
On a day where the Peso is spiking and your government is having talks with IMF and especially in a country that has had 8 defaults in the last 200 years I understand it may be hard to take the ...
- 6,588
10
votes
Is it a good time to replace my used car?
Cars are certainly a money suck, but sometimes the cost to the individual is well hidden. The most common and costly example of this is the loss of value when one purchases a new car. One can expect ...
- 76.1k
10
votes
My parents claim they cannot pay for my college education; what are my options?
Don't let your parents drag you into their arguments. This is BAD co-parenting. Yes there is probably alimony paid. It is much harder for 2 people to afford living independently than together (2 ...
- 291
10
votes
Does a co-signer on a car loan have any ownership rights to the car?
Laws vary by country/region, but typically the title dictates who owns the car. A co-signer is lending their good name/credit score to help secure financing. They are obligated to pay but generally ...
- 69.1k
10
votes
Credit score and financing new car
Do not buy a car on credit. Ever. The fact that you have credit card debt makes it an even worse idea, but there are just so many reasons you should never buy a car on credit. For $5000 you can get a ...
9
votes
Could a business be structured around Multi-level Marketing, yet still be ethical?
To me the ethical concerns of MLM are centered around not accurately describing the business. This may be born out of the perpetrator's limited understanding.
The key thing to understand about MLM ...
- 76.1k
9
votes
How to determine car loan length as a function of how long I plan to keep a car
The general advice for this site the shortest loan period and the largest down payment; this makes sure you aren't under water and your interest costs are low. This means that the best loan options ...
- 136k
8
votes
How can I survive the economic crisis I see will hit Argentina soon?
I suggest reading people's experience who've lived through hyperinflation. Many Westerners have never lived through this experience and it's hard for them to give advice because most of it is bunk ...
- 1,829
Only top scored, non community-wiki answers of a minimum length are eligible