New Car or No New Car?

Credit and mortgage advice Forums Home Insurance New Car or No New Car?

This topic contains 0 replies, has 1 voice, and was last updated by  Anonymous 7 years, 9 months ago.

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    I’m a 21 year old married college student with a newly-minted full time job that makes around $ 10 an hour. I need a car for this job and will be responsible for transporting other people(so I need a safe one, etc.). I have never had a chance to own a new car, neither have my parents, we’ve always been content with what we own(which means no debt). Now that I have this job that makes rough 22k a year, and my husband makes about 14k a year, they want me to get a new car. I am leery about it for many reasons 1) I’m saving for a house(which they argue a new car could give me established credit. 2) My insurance would be high, and 3) The payments are just a little more than I want to pay, 400 for a car payment plus 100 insurance does not bode well with me. Plus I’m looking at possibly paying for college which is $ 250 a credit hour. So, my question, to buy a new car or settle on a used one? Thanks so much!!!
    Also my job is kind of temporary/contract , I know that by June 09 I could lose it due to loss of government funding(i work for a non-profit), so this is also an issue.
    It is not a requirement for a new car, but transportation is a must in this job, and I’m not willing to let the job go, right now I really have no car(my husband has his and works different hours, its an older model and has 140,000 miles which if I had it it would have a lot more).

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