Boy friend wants a new car. I disagree. Who is right?
>He makes 8 thousand dollars a year.
>He currently pays 360/per Month on 22k loan for a Civic SI he bought 9 months ago
>He lives at home with minimal expenses
>he is a college student
The new car is pic related
>new loan will cost him 440 per month
>gets 15k for trading in the civic
>new loan will total 26k
Is this a bad idea???? I will stand by to provide any other needed information.
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>taking out a new loan when the last one's not paid off yet
Sure, that sounds like a brilliant idea.
>makes 8k a year
He should probably trade in his car for a bike and a bus pass.
Tits or gtfo
...
This is a blue board.
buying a car that costs almost 3 times his yearly income was a retarded idea. Buying one that costs more than 4 times as much is retardeder
Let him learn the hard way. Either he gets bent over and never considers it again, or he survives the Jewish wringer and gets to keep his Subie and you can look back years down the track and think about how you almost talked him out of enjoying his cash.
>makes 8 grand a yeae
>wants new car
This is how poor people stay poor
>Never financed anything in their life
It's pretty common for people to trade in a car 2-3 years in to a 5-7 year loan, or even as soon as the loan payoff dips below the current market value.