I'm 23 years old, married, 100k in debt (Engineering school loans), just graduated, and make just over 100k a year (expected to go up within 3 years). My wife makes about 25k. I had a car which I owed 9k on and it was totalled (Was not as fault). They gave me 10.8k and I am trying best to get the best car for us. I am wanting to get a Tesla Model 3 sometime in the next 3 years. Here are the options we are considering, but are not sure how best to go about it. Also, my wife has a car now that has probably 3 years before it finally hits the junk yard.
Option 1: Buy her the car she wants in the future after her car is in need of replacing. This could cost up to 25k. Though she really likes one that is 16k at the moment. I would drive this until it becomes hers, then get my Model 3.
Option 2: I get a decent car 12-18k worth and trade it in when I eventually get my Model 3. Wife would also be getting her own car around this same time.
Option 3: Get an "Eh" car for around 8-11k and sell it back same as above. Maybe sell/trade in future.
Option 4: Get a junk car for 4-5k and just pay it off. This would lead to us both having no car payment for a few yeara because I could pay it off quickly. We would still both have newer cars in a few years though. Maybe sell it or trade it in future.
All options lead toward the same end goal of me with a Tesla and her with her suv for our future kids. I just don't know what is best/not good at all. Preferably I would go with option 2 and just trade it in eventually. My wife really does not like option 1 because she wants to wait to pick out a car.
Any option we can easily afford.
Submitted August 24, 2018 at 11:12AM by NeuroJerm https://ift.tt/2MLnLfz
