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by Anonymous on June 2nd, 2008

Anonymous

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I have $2500 in my savings accout, and 300 in my checking. I want to buy a nice new car. I am going to college in the fall and will only work 10 hrs a week for 7.50 an hr. My parents are paying for college. What price range should I aim for on the car?

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Answers. 1 helpful answer below.

  • by Kdmichaels on June 2nd, 2008

    Kdmichaels

    I wouldn't buy a new car -- they depreciate so quickly, and besides that you'd be strugging all the time to make payments. Find a decent used car in the $5,000 - $7,000 range, and put your savings down on it. Work the rest of the summer and put your earnings towards your payments. You should be able to afford your payments although only making $75 a week is going to be tough, because you'll also have insurance, gas, etc. Good luck to you.

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You're reading I have $2500 in my savings accout, and 300 in my checking. I want to buy a nice new car. I am going to college in the fall and will only work 10 hrs a week for 7.50 an hr. My parents are paying for college. What price range should I aim for on the car?

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