Meccadeth

I know what you guys are talking about, but its still possible. Heres my plan though...
I'm trading in a fully paid for Honda Insight and a few thousand for a down payment. I'll probably be financing around 10K

Ude-lose

If your desire is strong enough, you will find a way to own it....

although you may suffer in the process....

same as everything....

DOOM Master

Sorry man, there's no way you could finance a $30K car on minimum wage. When I was 18 and bought my Z28 for $11,700 (over 3 1/2 years ago), I was making over $12 at my job. I had a $7000 down payment and got financed at 8.5% on the $4700, it still took me 2 1/2 years to pay it off (it was a 3 year loan). Payments were $150, insurance was $160, then figure in gas, fun, and other stuff. Even when I was pulling in about $700 every two weeks (net, not gross), at the end of the month after I payed everything I still only had maybe $400-$500 saved every month. That extra money wouldn't have been able to go toward a $30K car payments, especially when you figure in insurance. At $5.50, you'll be lucky to get $350 net every two weeks.

Meccadeth

Alright....I'll do the math...
30K @ 0% financing over a max 60 month loan term....is 500$/month, plus insurance, which we all know is outstanding for someone under 25 with a V8 sports car, so, I would get it insured full coverage under my parents name, like I'm doing w/ the Insight. That would be another 120$/month (estimated) so 500 + 120 = $620/month.
Now, after taxes at 5.50$/hour I make about $4.45/hour, so 620 diveded by 4.45 = 139 hours of work for that month, which is basicly nothing considering I work 40-50 hours a week. So it IS possible.
Would I do it for a car for 6 years w/ the rest of my money going towards school...for the GTO, Hell yea! Will I have to? No.

Ken S

don't forget at LEAST another $100 in gas a month... assuming you go thru 3 gas tanks a month and pay $1.50 a gallon. Thats about 800 miles a month at 17 mpg.

thats abotu 9600 miles a year, tires would cost you about $500 to replace.. if you change your tires every 3 years (27,000 miles and thats if relatively behave) thats about $11 a month.

lets say synth oil, and various fluids, about $9 a month .

Going thru brakes.. lets say you have to change pads and rotors every two years.. lets say $200 every 24 months = $8 a month

so now thats another extra $130 a month for gas, raw basic maintaince of fluids, tires, and brakes.

your now up to $750 a month to barely maintain that car. Lets hope a taillight doesn't wink out.

your income is $4.40 * 50 * 4 = $880 a month

just after the car you are now only left with $130 a MONTH to play with.

Thats only $30 a WEEK to spend.

And remeber, your not paying for a place to live, utilities, and food! and your not saving a single cent. And what happens if something unexpected happens? You don't happen to have any credit card bills to pay for btw?

When I got out of college, I thought, "shieeeeett.. life's gonna rock now that I got this nice salary job..... after the first few months of bills of living by myself I realized... wow.. things add up.. and compared to alotta people, I have things real easy when it comes to debt and loans!"