Finance or cash car at 18?
Hi everyone. I am an 18 year old with a dilemma. I found a car that is 18k that I am super interested in. I am also thinking about just buying a 5k car and keep on saving money. I make between 2000-2500k a month depending on extra shifts. I also donate plasma which is an extra $440 a month. I live at home so no major bills, just gas, phone, and help with groceries which comes to about $300-400 give or take. If I financed, I would put half down for the down payment and finance the rest. I know my interest would be very high but already planning on paying it off early. I would have a co-signer with good credit if I went finance route. Talked to insurance and with discounts from multiple vehicles and college grades my monthly would be $229 with full coverage on the vehicle I want. What should I do? Advice?
UPDATE!
I appreciate everyone’s advice and definitely will reconsider going that much in debt. I’m going to look for cars I can pay cash for and see where that leads me. Thanks everyone!!