ATTN: Everyone

Hey everyone...

Listen I got a Q for everyone here,
do you think it is a good idea to finance a car, while your in school ? or not ?

If yes, what should be the maximum monthly payment you should go for ?

And lastly, what kinda' car is a good bang for the buck and will look good after I put a few g's into it ? (Preferably Honda/Acura) ?

Gimme' some feedback boys...

Peace

RayB21

I don't know if it's a good idea, but I did it to get my mp3! I just love this car, so I do the necessary to pay for it. For the maximum payment it depends of your budget and the sacrifices you wish to made (too bad, my girl has to go, lol joke!)

This is kind of a broad question, don't you think? What kind of money do you have to invest? What is your net monthly income? What is your living expense monthly? is your job steady enough to commit to a 2-4 year term? Do you have a job? Then you will have gas, registration and the big one: insurance to deal with monthly. Factor in any mods you may want to do and you have a hefty monthly payment schedule. I guess you won't have a girlfriend, 'cause you won't have any cash left!
Answer these questions honestly and then you can figure out if your budget permits it. It's the only way to do it. The numbers don't lie.

ATTN:Everyone

Well thanx boys I will give it a thought... but I mean I am a student ya' know ? and I do have a JOB. Are you guys all students also ?
I would think that it is a good idea to wait and finish school then get a nice ride and pimp it up!

Peace

RayB21

Re: ATTN:Everyone

I have 2 years left at Sherbrooke University and I have jobs between each semester. I'm impatient, I couldn't wait to change my Z24 for a nice mp3!

Re: ATTN:Everyone

nothing wrong with financing
but be sure that you could pay the payments!
i would say while ure stay at school payment shouldnt be over 200$ a month
give a huge down payment!

Re: ATTN:Everyone

I'd wait unless you've got at least half of the car's value to give as cash down. And even then, I've got something against paying interest on a car. It's not an investement.

Here's what I'd suggest to you: for a year put the payments that you'd do towards a car in an investement. Mutual fund, bonds, that sorta thing. The safer the better for now, unless you know how to play the market. And after a year you can see if you really can make the kind of payments the car needs. Plus when you actually go and buy it, you'll have one heck of a downpayment, plus you'll have interest made on your money.

Patience is the way to go! Don't be hasty with a large sum of money like that. It takes a long time to gather 20-30 000 $...

That's my opinion.