Should I buy a '15 LTZ?

[Tugglespa]

So if I understand correctly, you are bringing around 6k/month after taxes and your monthly expenses come out to around $250?

If that’s the case then absolutely get it. You’re doing incredibly well for your age. You could extremely easily put a good amount of way for retirement while also affording the vehicle that you want. Hell with that sort of financial breakdown you can probably afford a new one instead of used.

I've just heard that buying new is bad because of depreciation and stuff. In 3 months we get a raise of $5 extra an hour. I would buy new because I know it would have no problems. But I just hear it's not a good idea

 

[Tugglespa]

No.

Spend it on college textbooks.

Full stop.


Sent from my iPhone using Tapatalk

All paid for

 

[clogan2]

I've just heard that buying new is bad because of depreciation and stuff. In 3 months we get a raise of $5 extra an hour. I would buy new because I know it would have no problems. But I just hear it's not a good idea

Smart: buying used...especially if there's warranty remaining, say at 30,000 miles or so. You can save approx $1/mile, compared to new.

But fully fund that Roth first!!!

 

[Tahoe14]

You could always buy the one that you are looking at and put a gmepp full coverage warranty on it and then you are covered for many years and miles. Your money, your life, if you like it then buy it. Unfortunately when you come to a forum and ask for advice you get a lot of different opinions and, you did. Good luck with your decision.

 

[sickk23]

I would be mortified to buy one of these used, but somebody has to lol

Joking aside, I’ve been burned by too many low mileage “good” used vehicles. Now I just shop hard and travel far if I must which is almost always for something new. Where I live they mark these stupid things up, “adjusted market retail value” is what the sticker says.

But yeah I think buying new is bad if you’re a sucker. 9/10, the people that say it’s bad are suckers. They are the ones that either can’t even afford a new car or they don’t know how to shop for a new car.

 

[cardude2000]

All paid for

Welp, if your parents are buying you land, a house and paying for college plus room and board then my suggestion is to get them to buy your ride too. Cmon man!!

 

[RED TAHOE LS]

Patrick, nothing I say will not make you happy, do like a lot of generations have done before you, start slow before you jump into 40k worth of debt for any vehicle @ 19 yrs old , JMHO and good luck to you.
David g......

 

[Kelzo]

My 2 cents on the matter:
Invest the money elsewhere. Start looking at rental properties etc, start accumulating investments and wealth. By the time you are 23 or so you could have 10 properties under your belt. Have them all paid off by time you are 35. $10-15k of passive income by time you're 35 would be nice right?

Totally not what you want to hear, and I remember being 19 and spending loads on cars....Wish I had of put that money elsewhere looking back.

HOWEVER........YOLO
If you can get a decent used one, at this rate and monthly expense you won't barely notice it. Definitely worth travelling for to get a great deal.

 

[Miami-Dade]

Joking aside, I’ve been burned by too many low mileage “good” used vehicles..

I generally find low mileage vehicles are the worse vehicles to buy..Most people think since they only drive locally and barely go more then a few miles a day [if that] they never have to service it.

 

[Batterycap]

Financially - no way. Have you seen how cheap older Suburbans are. I just made a 2001 Suburban road worthy for $11,000, and that includes the cost of the Suburban. If you took the money not spent today on a newer Suburban, and socked it away at 19, retirement is done. Hey, take it from a guy that made the same mistakes you are about to make. This ain't wisdom talking, it's scar tissue. Everybody can get a loan and cripple themselves with a payment. Not everyone can make old new and roadworthy.