Can I afford this car?
Hey,
I am currently a freshman in college and have
recently been wanting to buy a new car. I
don’t have too much money at the moment
and work an average of about 20-30 hours
per week. I plan to work 50+ hours this
summer and will possibly take a semester off
from school to build up more money. I’ve had
my eyes on a 2009 BMW Series 3 328i. My
question is, do I really go for a car like that
right now? The dealership’s listed price is at
$8500 and it has 105K miles. The car is in
beautiful condition inside and outside. My
plan was to finance it month to month
through the dealership to build up my credit.
My father would help me out with the
insurance, which would relieve some costs to
me, but I’m not sure if I should buy the car
being unaware of other maintenance and
repair costs. Could someone please try to
break it down for me or give me some sort of
advice on whether I should attempt to go
through with this. Thanks!