I look at all the money I wasted on cars, and I know I could have done better. Now, there is nothing wrong with goofing off a little bit with modifying this or that, but putting yourself 21000 in the hole at your age is a bad move.

I am 29, and the only debt I have is my mortgage and the remainder of a college loan. I work to pay off all my loans ASAP, sending extra money as it comes forward. I also have a wife and 4 kids, so this hasn't been easy, but we are better off for it now.

This means I have driven some older, less attractive cars (I had a K-car for a few years, for example). I am also fortunate to have a job that allows me to take a vehicle home every night, and use it some for personal things, but I can't haul my family in it, so it isn't used much outside of work.

I would say keep what you have and save up for a mega ride later. If you would feel better, put a few hundred bucks into an improvement and enjoy. At 19 that is a hard pill to swallow (I almost bought a 69 Plymouth when I was 19), but at 29 you will understand what I am saying. I was 27 when I found my 55 Ford (a $600 beater), and it still sits, waiting for the appropriate time for me to start sinking myself in a hole again.

 

Hell when I was 19 I was driving 10 year or older cars, that I had to fix. My dad wouldn't co-sign jack for me, said I wasn't ready for a new car.

I would advise you to buy a vehicle that you can pay for with cash. I know thats harder to do with brand new cars, but buckle down and pay for the truck you have now. So what it has 100,000 miles. It'll run for another 100,000 if you take care of it probably. And if the time comes that the motor is blown, buy a new one, it would cost you a lot less than 10,000 bucks to put a new motor and tranny in the truck you have now. You could probably find an upholstry shop to put some leather in for around a 1000.

 

Well I decided not to pursue the truck. It was too much work just to apply for the loan(the person I was purchasing from had to be present too and his work schedule conflicted to much with that). And after reading these posts and actually thinking about it for awhile it just wouldn't have been a good idea.

Thanks for the replies guys, it was good to hear points from the other side. Everyone around here has been telling me to get it.

 

Good move Patatoe1. That's the good thing about this forum-you've got a lot of old geezers like me that have made some dumb moves in our lives that we have regretted. You listened to advice and made a good decision.

 

You might think back and wish sometimes, but you can't really regret this. You've made a good choice that will help you get the truck of your dreams someday.
I'm 26 and I've had seven different cars and trucks. I've bought all of them for cash. It's the smartest way to buy anything that depreciates so fast.
Now, go and buy yourself a CD or some beers or something to celebrate how smart you are.

 

Yeah, good for you to pass on it. Just think, in a few years, you'll probably have enough saved up to buy a better truck with cash on the table, and not have to worry about financing.

When you do get to that point, we'll all still be here to tell you to keep the truck you got and buy a house instead.

 

I'm 32 ( I just turned, and it doesn't bother me!!) (Well, maybe alittle). Anyway, I'm on my fifth vehicle. If the nice guy was watching the traffic and saw the red light, I'd still be on my fourth, but that's another story.
My first car was a '79 LeBaron, 318 4 door. Good car til the tranny went. Neigbor had a New Yorker that needed an engine. He gave me two hundred bucks to take it off my hands.
I found a nice '83 Merc that was whacked in the front, cost me $200 for the car and $200 for a header panel and grill, bumper etc. Drove that for 4 years and sold it for $250.
Got a Cream puff '86 Taurus for $1400 took out a $3000 loan for 1 year. Paid off school and bought the car. It started to get a couple rust spots a year later, sold it for $1100.
Put that $ down on a '97 Taurus. Insurance gave me way too much for that when I got T'd, so I bought my current truck. Now if some one hits me, I'll reach down, reset the inertia switch, and push them into a tree or light pole. Oh, sorry, this isn't my thread! But that's what I did, just worked my way along with used cars. A little newer each time! Later, Rob.