CT_7 t1_je3otni wrote on March 29, 2023 at 4:32 AM

Graduate first and don't make any big unnecessary purchases for at least 3 months. Set a budget of expenses and try to live like a poor college kid and see how much cash you can save up. It sounds like you want a lot of toys aka depreciating assets and those should be purchased with as little debt as possible after setting a good foundation of needs like emergency fund, housing, etc.

vinni8989 OP t1_je3wpe9 wrote on March 29, 2023 at 6:00 AM

Thanks for the comment, this is really good advice. I’ve never put myself in debt so this is something I’ve been thinking hard about. Of course I really want it but this is a big decision and I’m so hesitant solely because I hate the idea of taking such a big loan on a depreciating asset. I’d even have the same cold feet on a mortgage. Because of my mindset, the toys I wanna buy would be from a “play fund” I plan on having that I’d buy out in cash.

I’d like to ask your further input; I have about $10k in my bank currently and I found a car I’d consider. It’s listed for $19.5k but I really wouldn’t pay more than $16k and I’d be haggling the seller so I’d take a loan less than $10k to purchase it, which is more up my alley for less anxiety on my finances.

I will need a car very shortly, this vehicle was what I was not exactly wanting to go with solely because it’s a 2014, about 170k km and realistically is in my budget but my biggest concern is ending up in a money pit vehicle that costs me both time and money; more emphasis on the time from the burden of having to get it fixed.

With being realistic with my budget for a vehicle, but my concern about being used what kind of feedback do you got for me?