(19yo help me!) Looking to buy new car, good opportunity has arrived but I still have student loan to pay off
Hi! So first time posting here so I apologise for any lack of correct terminology and what not, I'll try my best to make things make sense though!
Background on me: so I spent 6 months at Uni, racked up a 7K debt. I now work (casual hours ☹️) earning $27.50 an hour dairy farming. I'm looking to move to a full time job in the industry so it's for this reason I'm looking to buy a ute.
So as the title says, I'm looking to get a new car. However, my parents are unwilling to let me as I still have 6k student loan to pay off from my brief stint at Uni. The ute I want to buy is being sold by a friend and he is willing to do a deal with me (trading my current busted car + 5K interest free).
Since the car and money is mine, and I'm now working the final decision is mine whether or not I go through with buying the ute, but I would like some advice.
Do I not buy it, and pay off my student loan asap, or do I buy it and pay off the student loan and 5K for the ute slowly for the rest of this year and the next?
Sorry for the wall of text!! Any helps appreciated 🙂
Posted Aug 25, 2017, 12:03 PM UTC