So I make around 2600 a month(after taxes) and am planning on buying a 47k car in the next month or so. I’m trying to build up my credit from baby to adult. My current credit score is 769. I’ve already been pre approved for a 45k loan from the bank.
The reason to buy the car in the first place is again to try and build my credit so eventually I can get a loan for a house.
Currently I’ve had to move back to my parents place due to rising cost of living hence why I wanna buy a car to better my credit to buy a house.
Currently cut my spending down drastically, from $500 a month on food to just under $200. On top of that I started saving more not going out as much, gas was about $120 now I’m spending under $40.
My monthly spending is about $340, I have about 13k in savings. The car I want is having to be ordered by the dealership. It was around 52k msrp dealership dropped it to 49.7k said they couldn’t go lower since it’s being ordered and they aren’t needing to get it off the lot. I was able to get them down to 49.5k (asked 8 other dealers and this was the best I could get) plus another 2.5k in rebates to make it 47k (excluding taxes). I plan on putting a 12k down payment if I decide to buy it which would take 12 weeks to get here. Cost of the car is about $590 a month plus $160 for insurance. KBB says it’s a fair purchase price at 49k.
Do I have the means to buy car? Can I get a lower price? I’ve looked at this for the past month and I think I can but I’m not 100% sure. Please help, thank you.
Also I’ve talked with my parents about this and they fully support me in getting the car if I wanted too, I realize I’m very very lucky to have parents like them.
Submitted April 30, 2018 at 02:41AM by -ohohohitsmagic- https://ift.tt/2Koj7An
