18 year old getting a car?

Question

i'm 18 and i just got a job. since i'm in college and getting a grant from college, i was thinking of getting a car. i really want a jeep but a used one go from 13,000- to 28,000 and that's a lot of money to save up. so i was thinking of doing a monthly payments but people keep telling me it isn't a good idea. i just want other people opinion on it.

Answer

I personally wouldn't do monthly payments. I did monthly payments on my car insurance and it went horribly. I kept missing the payment as I hadn't transferred the money from my savings into the account the payments were coming out from. I got charged so much by the insurance company and the bank. If you have a steady income coming in every month and you're 100% sure you can pay it then go for it. Just remember if you screw up on it it's expensive and can affect your credit score. Why not look for a cheaper car? I know it's nice to have a good looking car but it is literally made to get you from a to b.

Answer

Think of it this way: are you really in a place where you don't have better things you could do with $20,000? A car just gets you places. Think about what you actually need in a car, then find one that does that. I bet you can get a decent one for like $5k. It's always better to avoid debt if you can.

Answer

Get something less expensive. Remember the larger the vehicle the larger the expenses: fuel, oil changes, tires, etc. 
My car in college was cheap. Cheap to have worked on, cheap to have repaired and cheap to maintain.

Don't let a car own you!

Answer

You can find a decent car for a few grand! Do that

Answer

Don't do it. Try to find a used car if you can. I had a 2010 impala got it in 2011 it the engined died when I called they were like oh your warranty just ran out and I wasn't even finished paying for it. I had to pay for a car that I couldn't drive.

Answer

Nope. Nope. Nope. I got a car when I was 18. A little over 13,000. After tax title and liscense it was like 20,000. I also had very good warranties put on my car. I pay 343$ per month not including my 150$ insurance. He told me I could refinance in a year well I can't until I get the warranties off my car because I have 2,000$ in negative equity. Also my dad did cosign on this Loan everything would have been more expensive without and I'm guessing being only 18 you don't have credit and that was my issue. Just wait I promise you it'll be worth it in the long run. I could afford it when I first got the car now I'm struggling due to being pregnant on a weight limit restriction I had to switch jobs I'm down in pay and overall jut stressed. In my opinion it's not worth it and I wish everyday I would have never got the damn thing. I love driving my 2013 around it's just not worth it though.

Answer

I had a car loan. My monthly payment was about $180/month (not including insurance). I never had any issues, and loved that I was able to get the car I wanted when I wanted it. As long as you are financially responsible, I see nothing wrong with having a car loan. It's when you start missing payments or don't make enough money to make your payments that it becomes an issue. Good luck! xo

Answer

My car was $9,900 and the payments are $180 a month plus another $100ish a month for full coverage insurance and that was with putting down $4,000 in a down payment and having a good credit score. With a car at $13,000 you're going to be paying well over $200 and with your age your insurance is going to be high. I'd count on about $150 a month for that. With being a college student I definitely wouldn't pay $350 or more a month overall for the car. Look at all the expenses and honestly you should probably get something cheaper.

Answer

Monthly payments suck if you can id get something cheap thatll work until youve either got money saved or are done with school. Youll have the monthly payment which would probably be somewhere around $200 then youll also have full coverage insurance (because if your making payments full coverage is your only option) which will cost probably 100-150. And thats all monthly so youll be paying 300 at least just for the car a month idk if you have any other bills or how much you work but that monthly isnt fun to pay while your in school. It also depends how your credit is but thats a whole other factor lol just really think it through i got a small loan for a car when i was younger and it was the most stressful thing to deal with it was not worth it at all

Answer

Your budget range is pretty wide. I would keep it more in the $10,000-$13,000 range. Your monthly payments will roughly be $200-250 (depending on the make, model and year of the car, and the interest rate) but everything is negotiable. Also, get GAP insurance when they offer it. And take into consideration your auto insurance cost for a vehicle as well.

18 year old getting a car?

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