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ok i am joining the army and starting off i will be maken 1300 a month after tax's. i found out that if i take out a 20,000 dollar loan i will be paying around 380 a month and i have a 6000 dollar down payment. i am lookin for one around 26000. i was wounding what the insurance would be like for a 20yr old person and if you think i would have enough money to afford one. i am thinking i will since i will be liven for free and and eat in the mess hall for free since that comes out of my paycheck. i will make 1500 but take home will be like 1300. 93-98 supra tt has been my dream car and now i think i can afford it but let me know if u think i can (include maint,gas, and little stuff you can think of being a supra owner).
 
Posts: 24 | Location: pittsburgh pa | Registered: September 15, 2006Reply With QuoteEdit or Delete MessageReport This Post
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quote:
Originally posted by supra94celica:
ok i am joining the army and starting off i will be maken 1300 a month after tax's. i found out that if i take out a 20,000 dollar loan i will be paying around 380 a month and i have a 6000 dollar down payment. i am lookin for one around 26000. i was wounding what the insurance would be like for a 20yr old person and if you think i would have enough money to afford one. i am thinking i will since i will be liven for free and and eat in the mess hall for free since that comes out of my paycheck. i will make 1500 but take home will be like 1300. 93-98 supra tt has been my dream car and now i think i can afford it but let me know if u think i can (include maint,gas, and little stuff you can think of being a supra owner).


Don't do it. Bleieve me on paper it looks right. real life you will be hurting if you do that.
 
Posts: 1353 | Location: Farmington, MN | Registered: April 21, 2003Reply With QuoteEdit or Delete MessageReport This Post
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I agree, you'd be much better off investing your money (at the very least in PayPal's money market which makes 5%). Then instead of paying interest on a loan for a car you probably won't be driving much yet you will be making interest.
 
Posts: 1228 | Location: Oregon -> Arizona | Registered: September 21, 2002Reply With QuoteEdit or Delete MessageReport This Post
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