Buying a First New Car at Dealer Smart or Dumb?

[johnmba4016]

I am 18 Years old and just got a job in sales. I make 14hr and i feel great. Maybe that might not seem like alot but to me since i live with my parents and dont have any bill im getting an income of almost 2k a month. I have a old mazda pick up that i drive and friends father promised to buy on Janurary. He is going to give me 3k and im going to use that as a downpaymentI have been wanting a New Toyota Camry Hybrid it will come out to like 30k.Is it possible for me to get that in the sense that i only had a credit card since june and i might not have to much credit and i cant find a co signer. My parents dont want to help me out. Do i need to give a down payment?What is the best way to pay less intrestes can anyone help me?

[allamericanred2]

One of the first things the bank will ask is how long have you been employed, the other thing to consider is will they even talk to me, if not that means you will have togo to a loan company, that means high interest. The more you put down the better chance you have of getting a lagit loan from the bank and the less your payments will be. Right now your looking at atleast $500.00 a month payments that not including the insurance. I can tell you that in the south the insurance would be around $2000.00 a year and from what I understand we are cheap compared to the north or west of United states, not trying to putdown what you want however you may want to research this real well, maybe consider a good used care to start and work your way up. good luck

[grvygoolie]

First keep your credit card paid below 60% of its value, get another card but keep the bills low as well do this for one year to show responcibility, keep a good driving record, you may need a cosigner anyway but if you keep everything paid you may get by, you could get a job at a dealership and you might get in that way as well. Either way keep your credit paid up and on time. Check your credit score and see what come up. Good Luck and God Bless

[JeffyB8001]

You may want to consider a good used car, rather than a new one. Do you really want to have a heavy car payment for several years? They would be in addition to the gas, maintenance and insurance. What happens if your job gets eliminated or your hours cut? You will also be moving into your own place sooner or later which will add expenses. I know the prospect of having a brand new car is exciting, but think in realistic terms. I would hate for you to get one and then suddenly realize it was a big mistake because you can't keep up the payments.

[BipolarSentient]

Just off the top buying a $30K car at your age is RETARDED. You are going to end up working for the car and if you lose your job then your credit is gonna be ****ed up because you cannot pay for the car.Lower your sights a bit and get something responsible. Go into the $15-20K area. That way you can have some extra cash in your pocket and you would also be able to move out of your parents house. The things people said about loans are correct, I just wanted to comment on your choice of a car.