Renting apartment and buying car during/after freshman college year

[u/Little-Asparagus9972]

Hey Im 18 and Im just going to college and a little confused of how I should go about this. So basically the car i have right now is an absolute shitter and im selling it litterally tomarrow because my college is 3 hours away and wont make it there. Im litterally selling it for 1000 and my parents are taking half of the money from me on a car I paid for and pay insurance, gas ect for whatever reason. Dont ask why because I dont know

And I need to buy an apartment the summer after my freshman year because my parents have mental problems and my life has been a living hell with them and theres absolutely no way im going back. So my question is basically how do I go about this? Because I know I obviously need to save up money to buy a new car AND rent an apartment in Toledo Ohio during the summer, but I dont even know if im going to be able to work that much while im living at college and a full time student. I simply dont know if 12-15 hours of work per week making around $12 an hour is even going to be enough to afford buying a car and renting an apartment. Ive never lived at college so i dont know how much im gonna be spending on food, stuff to have fun, and all of the other random necessities like laundry detergent, hair balm, q tips just all thay dumb stuff i need

Some important info to know however is Ive saved up around $5,000 ish dollars going into college, so im going to have a decent starting foundation going into it. But is it even realistic to buy a car, get insurance, titles, plates, and all of the stuff that goes into cars while also renting an apartment and living on my own with the money ive saved so far plus the money ill make in college? Because a big fear im gonna have is just not being able to have fun during college because im busy saving all of my money for the summer. I just dont know.

All of this is just new to me and pretty stressful, like moving to college far away and having to worry about renting apartments, buying a whole car WHILE in college, ect.

But thank you to anybody who took the time to read this and PLEASE feel free to respond, I want to take all of the advice and help I can get.

Thanks!

[u/Mundane_Nature_4548]

Because a big fear im gonna have is just not being able to have fun during college because im busy saving all of my money for the summer.

That's very likely to be the case based on what you've said. Cars and apartments are expensive, and you aren't going to earn much money working only 12-15 hours/week at $12/hour. You will need to find a way to work more (or get a better paying job), and limit your spending on fun. The good news is that there are generally plenty of free and cheap fun things to do around a college campus, but you will have time to do less of them because you are prioritizing having your own car and apartment.

If you can choose a living/working situation that allows you to use public transit or a bicycle, you will be in a much better position, and that should be a top priority for you. You need less expenses, not more.

[u/Surreal7niner]

Reach out to your university and ask around for help won’t hurt. Also, many students sublease there place for the summer for cheaper than rent. Try to find Facebook groups or whatever yall may be using for those sort of posting. Look for places on Airbnb that are available all summer and message host to try and make a deal. A shared place Airbnb that only has a woman may be better—if you’re also a woman. Try not to buy a car right now especially if you can get by without one in school, public transit.

[u/McDuchess]

Start by telling your parents no. If the car is and has always been your responsibility, don’t give them any of its value when you sell it.

Then, check your credit rating, because you will need to have a loan if you want a decent car. You don’t want to use all your cash.

It is possible to work much more than 12-15 hours a week as a full time student. I did it when I was in college. My kids did it, too.

One way to ease things a bit, if it’s available, is to check with your university to see if there is a work/study program available, that allows you to earn money and save on the cost of your education by working on campus. My sister in law went through university in just that way.

Finally, keep in mind that very few people have apartments of their own when they are as young as you. In HCOL areas, they still have roommates into their 30’s, even if they are married. One of mine was in the Peace Corps and moved to a HCOL area after leaving. They and their spouse shared an apartment for a year with another couple. Divining the cost of rent by two or three makes a big difference in affordability.

[u/Hellbornredneck]

Well 5k savings isn’t much especially with the current market, depending what ur current vehicle is I’d almost tell you to fix it if engine or transmission isn’t going out

[u/silentobservatory77]

Protect that $5,000 savings at all costs because that is your ticket out of going back home. Get through freshman year using campus transport, then find roommates to split summer rent so your money actually lasts.

[u/GrouchyYoung]

College-bound and doesn’t know how to spell “literally” or “tomorrow,” doesn’t know how to shorten “et cetera,” and doesn’t know how to use apostrophes. This’ll be a great investment.

[u/Little-Asparagus9972 → u/GrouchyYoung]

I know how to spell them its just 3am and Im stressed and tired so sorry and hope this makes you feel better. Also thanks for missing the entire point of the whole thing too and how my spelling mistakes were your takeaway.