I just can't decide

I want a new car, really bad but then I was talking to my friend and she said that she just got done paying her car off and it's great to not have payments anymore and I'll be payment free in a year if I don't get a new car...but I really want one. I was then talking to my mom and she said if I get a new car then I won't have enough availible income to get approved for a home loan and she won't co-sign for me again and I really want to buy a place this summer when im done with school. But a new car would be so much fun and ive had this one for 4 years now and im getting bored bored bored and it has 50k miles on it and im afraid things are going to strt going wrong because every can ive had develops tons of problems once i put 60k miles on it. erghhhhhhh help am i being spoiled and stupid wanting a new car. i got approved for a loan last week and got a really big raise and saved my entire christmas bonus so id have a good sized down payment. what should i do?

 

If you're looking into buying a home in the next year, DO NOT BUY A CAR.

The debt to income ratio will kill a home sale. And the additional inquiries on your credit report will raise red flags.

 

DON'T DO IT!!! Just stick with what you have and work towards your living situation now. Otherwise you'll have much more trouble in the future.

I'm driving a '91 Dodge Caravan with about 183 thousand on it and it's runnin fine. Just be happy with what you got and be glad you even have a vehicle~

 

ergh I know I know but I really want the new mustang gt. I've test driven it a million times and pretty soon I won't be allowed in the dealship anymore. I love that car it's gorgeous but i need to be responsible because with my new raise and new job opportunities and the market falling i can actually afford to buy soon. but it's so hard to be good. Im horrible with money, really bad. I had a credit card since I was 13 so I never learned how to manage it.

 

Yeah and I wanna bang Jennifer Aniston really really bad (dunno why, she's not that attractive... too skinny... OK so I made that up) but anyway, you can't always get what you want, but if you try sometimes you get what you need...

OK, you want a car tomorrow or a home of your own this summer?

 

buy the fucking house lyndsey...sheesh...

 

All the more reason to wait. I've never had credit, and am putting it off untill I absolutely need it. When I bought my van, it was paid off immediately, since I used debit and saved up beforehand. It was great, and I don't have to deal with nasty payments. Just wait! It'll be hard but please for your own good just wait it out!!! You'll want next year's model anyways.

 

I suggest holding off on any large financial decisions (house or car) until

A. You are healthy
B. You finish school, which I know you want to do
C. You decide where you want to be. One week its Northern CA, next week its England, next weeks its San Diego

just my 2 cents, if you still accept my currency

 

I agree with this. Big decisions should wait until other things clear up.

 

You could settle for a new motor scootor for $1,800. They get 120mpg, are easy to park, and big fun.

 

it depends on how much interest youll be paying . wether your new purchase is a good deal ....at 50 000 mi you should either sell it soon or drive it to the ground , cause soon you wont get any money for it . then its better to keep it till it breaks somthing that costs more than its worth on the book value to fix it what is your
presant vehicle , year ,modle n condition ?

 

Is your favorite flavor cherry red?

 

02 mustang with the suped up performance v6 (not the v8 gt)

 

ergh i forgot about my aunt and England. How did you even know about that? My grandma's the only person i've told in the states

 

hold off on the new car. thats a luxury expense, its not needed now. plus your still sick and the doctors still don't know whats wrong. so i'd hold off on any major spending until other things in your life get better - not being sick.

 

ergh I know!!! but wouldn't the happiness of a new charcoal grey mustang gt make me feel better and possibly cure me?

 

My advice is to listen to them, Flounder. After all they're Pre-Med.

 

No, but maby a scootor would. http://www.yamaha-motor.com/sport/products/modelimage/151/6/0/image.aspx

 

I hate to preach, but think back to your comments about country boys

it's true your at the point where either you run the car into the ground or sell it and put that money twords a new car

but do you NEED another mustang? why not a nice reliable compact toyota or honda? economy priced, great milage, EXTREMELY durable (my buddy has 100k miles on his toyota, good chunk of that is winter driving, and it's still goin strong)

then take the savings from your savy purchase and put it twords your dream home

just a thaught

 

i drive 30 miles to work each way and about 60 miles during the day every couple of days and i like to go to the city on the weekends and thats an hour drive so uhm no im going to have to pass.