so im assuming you guys think i should be able to afford one then

 

You know your situation best. Compile all our inputs and use you best judgment based on what you can afford and don't start off
life in major debt.

Don't ask us what we think you can afford. Only you know best.

 

From reading these posts I think it would be a good idea to add credit advice in the off topic forum. We seem to have alot of people expreinced in this area. Mark asked a very good question. My .02, Save cash while building your credit rating.

Take out small loans for the minimum time (6 months or less) to build up a credit rating. You can offset the interest a little by put that money a checking account or a shot term bond.

Using investments compaines like ING's orange accounts you can get like five percent interest on checking accounts in exchange less liquity on your money (like 3-5 days to withdraw).

Try to save 20- 40% of your income for rainydays and expenses.

Eat at home, watch tv instead of movies, etc.

 

markfromaurora you just need to be honest with yourself and your financial situation. Take into account ALL current expenses and any future expenses you are likely to have and be realistic (and always estimate on the high side). When you get out on your own what rent, power, food and other living expenses are you likely to have? Will you have student loans to pay for? You should be able to estimate your expenses. The real question will be what income you are likely to obtain and until you know for sure what this is you are really in limbo over whether or not you will be able to afford a Challenger. In the meantime save all you can for a downpayment to keep the amount you finance as low as possible as you will likely not be able to pay cash for it.

Most importantly, don't make the mistake so many young people make and overextend your credit!

It is a car, granted a very desirable car but not worth risking financial misery for. As stated earlier you will not get nearly the enjoyment you should out of it if you are constantly battling to make ends meet. Use good judgement and be honest with yourself because in the end YOU have to make this decision and live with it.

I hope your dream of Challenger ownership is realized along with everyone else on here!

 

Every one of these posts is good advice.....something to be applied well into your life, not just for your wish to get a new Challenger.
There are many things you can to do achieve your goals in life that are financially sound - several of which have been mentioned in previous posts.
Don't rush into anything that will affect you long-term. Next to getting a mortgage on real property, a new car will be the biggest "planned" purchase you'll make. Give it the consideration it's due.

 

More expensive than a car, house, or boat, the most expensive treasure you will ever have is your wife. LOL!

However, she will be your most prized treasure.

 

haha true true

 

i have been putting away half my check (a G a week) a week into an HSBC online saving acct. (%5.05 interest) since last September. so i guess 6-10 months after the challenger drops, i can pick one up without having to sacrifice any of my leisures. i currently drive a 95 MR2 so i am not really wasting much on gas nor mods...

it doesnt really matter how much you make most of the time, what matters is how much do you want something and sacrificing little for it. plan wisely and take your time looking for the deal that suits you. just dont blow everything away on a car at once though. i'm pretty sure you'd want the nice things in life to compliment the car that you are driving.

 

Mark, best advice I read here is for you to do a budget and figure out what you can afford taking all other things into consideration. Easy to get into financial problems when young (I did). I drove an Omni, Sundance, Neon before upgrading to a 300c. By watching my $$$ when I was younger and some breaks I now pay cash for my cars.

But then again being 23 years old, single and with a V8 Challenger would sure have helped my dating life....

 

When I was in high school (1974) I REALLY wanted an orange 70 Challenger big block. Took me 25 years of school, work, family and house payments to be able to do what I do. Part of that was buying a rusting hulk of a Sept 69 build 440 Magnum RT/SE Challenger. Nearing completion of restoration this fall and winter. Dreams come true.

(2) I did buy a 2002 Thunderbird in 2002, without paying premium to dealer. I enjoyed the car, and owning it paved the way to the Thunderbirdnest forum and many wonderful activities and friendships there. Pricing on a 2002 Thunderbird fell dramaticly following years, and now sometimes an 02 will list for under half original cost.

You could wait...you'll alwways be welcome with us here, ownership or not.
Steve