So I am a college student, 21 years old. I was offered a honda civic, 2012, 40,000 miles for 7500 dollars. It's well-kept and it's from my cousin, maintained every 6 months. She works remotely so barely drives it. She bought it new in 2012. I have 7.5k in stocks invested in ETFs, make 3k net monthly. This is how I budget my money:
1K investing
1K Spending
1K supporting my parents (we're new immigrants, and I live at home. No intentions of moving out until I get married)
I will be netting 4.2k monthly starting this January as a big 4 auditor, so I have a good job on the line. My parents are encouraging me to buy it, my brother will pay for it and I can pay it off monthly to him.
I would put 2 to 3000 down from my savings, and the rest I would finance over however long it takes, I would like to put like 600-700 per month.
I don't plan to drive the car to be honest. I was planning on leaving it in the garage with minimum liability and driving it every couple of weeks around the neighborhood, then putting full insurance coverage when I start working as an auditor (My parents drive me to college right now)
PS: The Biggest factor of all motivating me to buy this: I live in Texas
Submitted August 28, 2023 at 08:20PM by PM_ME_ZEUS_PICS https://ift.tt/FM2i4qE
