<p>Does it makes sense to take a 5,000 dollars loan to buy a car. I feel like I’m stuck because I can’t have a normal social live without a car and that’s not what’s more important. I want to get working experience and get in college organizations but I currently can’t do it because I don’t own a car.</p>
<p>Whether it makes sense depends on whether you can pay off the loan. What are your financial circumstances? Will you be able to make your car payments regularly?</p>
<p>Can you afford a car? I couldn’t until I was 28, and then barely. And I didn’t have a loan on it. A car needs insurance, gas, upkeep, paperwork, fees, tolls,parking, etc. I know too many kids working to support the danged car instead of the other way around.</p>
<p>Add a couple thousand dollars more to the $5,000 loan because you’re going to have to pay for insurance, registration fees, inspections fees, maintenance, and gas.</p>
<p>Insurance will easily be covered by my gandfather who works in the business. In terms of parking I really wouldn’t have to pay anything because my financial aid covers the fee in my college. The only thing I would need is money for gas but I can deal with that. I really need a car for short distances so I would get a a cheap one.</p>
<p>Who’s going to loan you the 5K?</p>
<p>You are in college. Why do you need a car to have a “normal” social life?</p>
<p>I suspect that the OP is a commuting student.</p>
<p>Do you live on campus? You say you can’t get involved in campus organizations without owning a car. Does your campus not have a bus system or is that just not convenient? Is it hard to find rides with other people? I’m not trying to be difficult, I am honestly trying to separate wants from needs. On my son’s campus all the things you are talking about could be easily accessible via the bus system for the school and the town surrounding (free to students). That may not be the case where you go to school so I’m asking. My son thought he would originally like to have a car on campus after his first year (it would be on his dime to purchase a used one), but is finding it pretty easy to navigate without one. Parking can be a real hassle as well.</p>
<p>Maintenance can be a bear. Tires can need to be replaced, things break. It’s tough for my kids who have cars and limited income. It seems the car has problems when thy are really short on funds. A car is a money pit.</p>
<p>Just because your grandfather works in the insurance business does not mean he can get free car insurance for you. Do you mean he will register the car to himself and add you to his insurance or that he will pay for your insurance for you. I know many folks in the insurance business, and they do have to get insurance for themselves and their family. At your age, insurance is not cheap.</p>
<p>^ I would agree with this. My oldest has no choice as he works full time. He bought his own used car and is responsible for everything associated with it. It wasn’t too fun when his 21st birthday present was new tires. They were expensive and it’s what he needed. It’s a bear to grow up. Don’t get me wrong, he was very appreciative, but it’s a far cry from birthday presents past. We’re hoping when he turns 22 in a few months no car maintenance is looming and we can get him something a little more personal for ‘him’.</p>
<p>Here is my problem: I live In PUERTO RICO! I do not live in campus that is why I need this transportation to get involved in those organizations. The other option which it looks like a better one is to rent a student apartment near college. Which would probably cost about 200 bucks a month.</p>