mpsbarra
Member
- First Name
- Michael
- Joined
- Mar 13, 2019
- Threads
- 0
- Messages
- 7
- Reaction score
- 6
- Location
- Baltimore, MD
- Vehicle(s)
- Jeep Gladiator LE Granite; Honda HRV
I appreciate the advice, however I don't care about how much money I'd save in the long run by waiting to buy a new vehicle. I try to optimize my time saved and value/(life) enjoyment that I will get out of certain things when I make the decision buy them (or make the decision to travel/gain new life experiences). I grew up as the oldest child in a paycheck to paycheck family with 7 kids. Growing up I never had much, and my grandparents helped me out by getting me the required necessities (laptop, textbooks, etc). Hell my grandfather would give me his 98 Silverado to prevent me from getting my own pickup. Only since I started working in industry have I been able to get the things I wanted that I believed would have either boosted my productivity or moral/happiness. By the time I graduate my student loan debt will be 23x yours. By the time I finish paying them off, the 2nd (or 3rd even) gen gladiator will be out. Is it financially "irresponsible" to get a new car when I have this much student loan debt, maybe, but I value my time more than money and my moral/happiness won't be at a level I'm anticipating for a few years (to a decade) if I wait (lost time). Could I get any other pickup, perhaps even used? Sure, but it won't be a Jeep. Could I just get a JL? Sure, but it's not a pickup. I won't spend money on something I know I won't enjoy as much as the thing I believe I'd enjoy the most, even if it costs more (within reason). I don't want to look back on life one day and say I wish I had done (bought) XYZ earlier instead of saving money (by not spending). Also I'm at the 17th best graduate school for engineering in the US in a field that is changing the world as we speak (robotics). I think I'll be all set.I don't want to tell you how to spend your money but I have some advice/recommendation for you. You should really get your student loans (I'm assuming you do) out of the way first before you start making payments on a car eventhough you will have a well paying job. Longer you drag on that loan the more interest you pay so it is best to concentrate as much money as possible for paying off your loan as fast as possible, also it is a large burden off your shoulders. That's what I did, I had 7.5k in student loan for my Diesel Technology ASE degree. Paid it off in under a year, instead of buying a new car right out of college, now am saving for a down payment on a gladiator and have about 9k.
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