Hi all, looking for advice. Too many internet articles steering me in different directions.
BACKGROUND: Just graduated from undergrad with no loans (very fortunate). I’ve been living at my parents house since the beginning of quarantine but am beginning law school in August. Super eager to try to become as financially independent as possible because I’ve been mainly dependent on my parents through undergrad for tuition; paid room and board through Resident Assistant job and worked since I was 15 to pay for luxuries/food/clothes/etc. I increased my own spending on travel and necessity costs when my dad was unemployed for a bit so my savings are not great. Roughly $2k, spending acct isn’t great either.
I’ll be taking out law school loans for my tuition (small scholarship) and rent. I will need a car and have found on CarFax/other sites some cars with this situation:
$9-12k price 10% down ~$200 a month for 60 months
Is this a viable option for me?? I won’t be working much during school and anticipate making around $200-500 a month working PT weekends. I am opening my first credit card this summer so also have no credit, would need co-signer. Is what I have sustainable for this car payment or should I be looking for other options? Do student loans generally account for car payments if necessary?
Thank you for any and all advice.
Submitted June 30, 2020 at 08:19PM by legaljawn https://ift.tt/2YKLFgz
