conversation: User (qaasq): "So I'm 21, looking to buy a car. I make about $3,400 a month. The car is $12,533, and I'd put down about $2,000 on it, bringing the price down to about $12,000. The monthly loan payment would be just under $200 for 60 months, and the insurance would come out to about $100 a month.\n\nI don't have any debt, and I don't currently pay rent (living with mom currently). I will start community college in about a month but it's a low, instate-tuition fee of under $400 a semester ($30-$50 a class). \n\nMy job is secure, I'm an assistant manager at a popular hotel in my city. Most of my income comes from commission, so in the coming off season my paycheck will be roughly $300-$400 smaller.\n\nThe car I'm looking at is very reliable, and is 3 years old with less than 50,000 miles on it- so I'm expecting/hoping it to last me the next 5-10 years.\n\nWhat do you guys think?"
  Self: "I purchased a 2004 grand am back in about 2008-2009.  I was making less than you monthly (considerably less) and I was able to afford it while living at home and attending school full time.  For the record, my car payment was a disgusting $290 a month, and my insurance was $90-150 a month (varied after changing to a different insurance).\n\nWhen I purchased my car it had 38,000 miles.  I don't drive much, it now has around 85,000 miles and I paid it off last year.\n\nI suspect you'll be fine.\n\nIf I could go back, I probably would have bought the brand new (at the time) Chevy Cobalt.  They were offering the same monthly price, but I really liked the look of the grand am.  Had I known at the time that a car simply being a 2 door car in my state/insurance meant it was a "sports car" so I had to pay a premium, I would have instead went with the 4 door brand new car."
  