I am 22, 100% debt free including student loans, credit card, and medical. I have about $18,000 saved currently. My circumstances are fortunate right now so my monthly expenses are very low and my income ratio allows me to save about 75% of my paycheck.
This situation isnt going to change and my job is in hvac so stable.
Ive have driven cars under 3k since I got my license. I lost both of my parents before I turned 18 and I’ve been working since 15 just sinking money into one clunker from another due to the circumstances which still left me stranded on the road somehow. My choices are driven solely on reliability and peace of mind and the fact Im in a better position to do it and want to do it for myself. I also don’t have many people to fall back on for advice so I am honestly just trying not to be dumb about it lol
Looking at a 2017 Honda Civic LX for $14,500. I could pay cash. BUT if for any reason I financed, I would put 1/2 down on car payment, and finance the other 1/2 mainly because I can and it would build my credit portfolio (i only have one cc and stud loans) so around $7000 I am thinking of financing. I would do a 2-3 loan in which I could pay off early as well. Im trying to be realistic but I have received mixed reviews from my irl people. Im aware of all the negatives about financing options and am open to hearing all vs just paying cash
Submitted May 26, 2020 at 11:07PM by 526720 https://ift.tt/36yIZVJ
