Currently I drive a 2010 Honda fit sport and it has a semi recently hit 200,000 miles. My parents tell me that it’s about time to start looking for another car and I want to wait a little bit till I build up the money to be able to buy a car with money I actually have. A lot of stuff is wrong with the car. I have right now but nothing that impairs driving to bad. My budget I’m trying to go for is $15,000. Every month I save about $1000 give or take and put it in a savings account specifically for my car. I would like to get it done within the next 10 months but at the rate I’m going up I would probably only hit 13,000. I don’t want to get a junker car because I have to drive an hour to work is an hour back and so I want something that is going to last a while. In addition to the thousand dollars every month, I am usually able to save about $200-$300 extra with my part-time job. Is this a realistic goal of mine to have? Should I shoot higher? Should I take out a loan or finance a car after paying majority of the actual cost? I’ve never bought a car I know nothing about buying a car. Except for what I have been told by coworkers and family members. Looking for anything you guys can give me thanks!
original posted by Much-Patience-6344 to r/personalfinance on Mon, 18 Mar 2024 23:38:21 GMT.