Could I afford a Camaro?

[kellertxgen5]

Originally Posted by FutureBumbleBee

I'm kinda bummed because I'm still 26 and can't afford a new car. But here goes

I work a part time job and get around $800 a month, minimum. No other bills. I have an 83 Camaro which I could possibly sell for like $1500-2000.. A few grand saved up and maybe could get more money (especially if it takes a long time from now to actually buy the Camaro).

I don't know how taxes, tags, registration fees and all things like that work?

I basically want the cheapest model possible, an automatic LS in yellow

I don't need the black stripes or spoiler right away, can I get more Bumblebee accurate ones later from someone else? Are they really hard to install?

My wife and I make 110K combined a year and I have doubts that I can afford my 1LT RS...

Of course I have a kid and a mortgage and I save what you make in a month towards my retirement, but I still have doubts. I'm 28 by the way.

[nards444]

sorry if this is rude but i dont see how somebody that lives below poverty or lives with mom and dad and is over 23-25 years of age buys a brand new 30 plus car. And if they are welfare shame on them, they go buy a new car while we pay their bills. These are the same people that stay below poverty and live with mom till 30, i guess its your life, if thats what you want.

[FutureBumbleBee]

Originally Posted by nards444

sorry if this is rude but i dont see how somebody that lives below poverty or lives with mom and dad and is over 23-25 years of age buys a brand new 30 plus car. And if they are welfare shame on them, they go buy a new car while we pay their bills. These are the same people that stay below poverty and live with mom till 30, i guess its your life, if thats what you want.

first what do you mean a 30 plus car?
price? It should only be 25..

I don't live poverty.. Everything is paid for, the 800+ a month is just free money to spend.
No welfare...

[FutureBumbleBee]

And I agree it's important to enjoy money now. The money I make in one month is the money I'll make in half a week someday in the future..

[UltimateAdam]

I make about 6200 a month, and sometimes I wonder if everything will be ok.
Granted, I have a mortgage and 2 children, but still, and no offense, I make eight times as much, and have NO idea how you could live on 800 a month... do you have any other bills?

[SlingShot]

IMO finish going back to school and get your life headed in the right direction. School alone will put you in debt, and if you could get the car you would be way over your head in debt. You have a lot of years ahead of you to get a cool car.

[FutureBumbleBee]

no, like I said, no other money, it's free money to be spent on whatever I want, or save.

[FutureBumbleBee]

Originally Posted by SlingShot

IMO finish going back to school and get your life headed in the right direction. School alone will put you in debt, and if you could get the car you would be way over your head in debt. You have a lot of years ahead of you to get a cool car.

no debt with school..
it might be a while before i go back anyway

camaro would be only debt for a very very long time.

[FutureBumbleBee]

Well just wishful thinking I suppose. I'm gonna go ahead and try and pull 3k, at least, a month with a new job (either an internet business I"m working on, or just finding a better job). So if I'm self-employed and don't have a payroll/regular check, how does that work?

[SlingShot]

You seem to have all the answers, so good luck to you in your purchase ....

[SlingShot]

Originally Posted by FutureBumbleBee

Well just wishful thinking I suppose. I'm gonna go ahead and try and pull 3k, at least, a month with a new job (either an internet business I"m working on, or just finding a better job). So if I'm self-employed and don't have a payroll/regular check, how does that work?

Tax and bank statements.... You still need to prove your income....

[chevyridinghigh]

I dont think you should. Save your money, and buy a car when you can afford to make the payment(s) and still have a decent amount of money to take care of other aspects of your life. Liquidity is important especially nowadays. It's a bad time to be in debt especially when you don't make a ton of money.

[kc10kevin]

Simple. No.

Take the advice of all the folks here. Wait until you are on your feet and are more financially stable.

[nards444]

Ok 25 it just it helped you out 50 bucks a month. Either way this is what i saw growing up. There was kids in HS or just out of HS that went out and got a new car. They all had a plan and mom or dad said they would help them out for a while. Well in most of their cases the car ended up getting sold, or it got broke and sat in their driveway because they could not afford it. All of these kids still live with mom to this day or live in an apartment with friends. Im not going to lie when I was that age i wanted a new, but im thankful that my parents did not enable me to get car, by either cosigning or helping me out. To be honest it might seem like much but a decision like this can really haunt somebody for time to come


Minus my two cents on the loan peice. It sounds like you wont be able to get a loan because of poor credit. Alot of banks wont always give you a loan even with a cosigner if you have horrible credit.