18 Years old, no credit, need a car to last me 5+ years
As the title states, I am 18 years old, have no credit, and am looking for a car to serve me from now until I enter the working world out of college. I have around $18,000 in cash and cash equivalents, expect an income of around $3500 this summer, and about $100 per week during the school year next year.
I would like to purchase a used car on the higher end so that as I transition into the working world I wont feel the need to upgrade as my salary increases. Is this a viable plan? Should I take out a loan so that I have cash reserves and am not tearing down my windwall too much?
Further, are there any cars you can recommend to survive moderate use yearly and last up to 4 or 5 years?
Any help is appreciated, thanks.
Posted Apr 26, 2017, 5:52 PM UTC