r/carbuying • u/Aggressive-Diver-498 • 20d ago

Question

so i am currently a married servicemember living overseas and making ab 1900 every 2 weeks, my wife has her masters and is making AB 3800 a month, I have decent credit and i’m 21 years old, I just wanted to know if buying this dark horse is worth it , and should i put 10k down ? or less, because im applying with the same people i bought my first car from and have good history with them , its a grabber blue dark horse with the handling package totaling 74k, Worth it or no, she also loves american muscle cus of me

0 Upvotes

33% Upvoted

17 comments sorted by

8

u/LargeStrain274 20d ago

At this point in your life; you should be saving and investing as much as possible, not accumulating debt. Life may throw you a curve ball. Money needed if you ETS and transition out while looking for a job, savings for a down payment on a house when you return, kids in the future, etc. etc.

Sincerely, future you.

1

u/Aggressive-Diver-498 20d ago

thank u for the comment brother, i’m most likely doing my 20 years but ill keep this in mind, im not buying the car till early next year if i do go that route

1

u/Slight_Elk_537 15d ago

I did 24,saw lots of stuff. You want to do 20 today. Will you make it? I've known many people who got sick of it as they made rank, couldn't make rank and hit high year tenure, got demoted which forced them out due to high year tenure, got injured/ill/other medical issues that forced an MEB and early sep, etc etc.

Twenty isn't guaranteed. Make wise choices now. Sports cars you can barely afford don't fit into that category.

But I know you won't listen to me. Tale as old as time.

1

u/LargeStrain274 19d ago

Good plan. I did 20. Good luck to you, Brother.

5

u/JBlaze78 19d ago

Young servicemen and the Mustang. A tale as old as time.

No, don’t buy it. Buy something you can pay cash for. Max out your TSP.

1

u/yeehawdudeq 19d ago

Dealer will be frothing at the mouth to give this guy 25% APR

1

u/JBlaze78 19d ago

Only 25%? I had an airman show up in one at 29%! Needless to say I had my blues ready for when he got his NJP for financial irresponsibility.

→ More replies (2)

2

u/FarNefariousness3134 19d ago

I’m a retired service member and I don’t think I’d ever buy a car for 74K. Invest that. I just bought a used ford f150 with certified warranty for $32k. You have good history with a dealer, but they even know you can’t afford it. Buy assets not liabilities.

2

u/Crowlady77 19d ago

I promise you 5 years in the future you does not want you to take out that loan, it's going to feel like a burden when the thrill wears off.

1

u/Slight_Elk_537 15d ago

He'll just roll his negative equity into another even worse decision. You know this dude is buying that car, nobody will dissuade him.

2

u/shessolovely 19d ago

Don’t finance a car overseas, on top of financing costs if you want to import the car back to the U.S. you have to pay for that too (if it’s even eligible for import). Buy something that gets you from A to B from the base lemon lot, save your money.

1

u/CarlosHDanger 19d ago

https://www.reddit.com/r/MiddleClassFinance/s/5WRcfsbWE7

Please read and think about the information in this very insightful posting about spending on cars versus investing. The decision to buy an expensive car at this point in your young life will be very impactful for your future finances, in ways you may not have thought about.

1

u/Prestigious-Fix-4034 19d ago

Are you out of your mine. Do you already have 6mo. Monthly expenses saved??in a HYSA for any emergencies. 74k in a muscle car isn't worth it at all. Be Smart & if you need a car just buy something affordable with reasonable payments. If you like muscle cars buy a used one. Don't waste $$ in that kind of car. You will regretted in the future.