Student Loan Cars

"punkgoose17" (punkgoose17) 08/04/2016 at 13:07 • Filed to: Student Loans, Millennials and cars

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In light of Chevy complaining about young people not buying cars, I thought it would be fun to find what new car you could buy with your monthly student loan payment. I have a lot of student loans, and my monthly payments could pay for a Dodge Challenger R/T Scat Pack. I really want a Challenger with a 392, so this is a good representative of my student loans.

CalzoneGolem > punkgoose17 08/04/2016 at 13:12

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With what I’m currently paying for my BS in CS I could afford this!

Haha! My car and education are paid for son!

Stapleface > punkgoose17 08/04/2016 at 13:15

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Yeah, my payments aren’t that expensive. Right around $400. So figuring the math that only gets me a car around 25k. So given that, I’d pretty much get what I pretty much already have. A Civic.

djmt1 > punkgoose17 08/04/2016 at 13:17

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Worked this out a while ago but like for like I could get a Seat Leon Cupra 290 ST with the Sub 8 pack.

TysMagic > punkgoose17 08/04/2016 at 13:20

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WOOOOOOO no student loan debt (thanks grandparents for the investments), but based on the stupid cost of my education I’d roll in a Rolls Royce Ghost

jvirgs drives a Subaru > punkgoose17 08/04/2016 at 13:23

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Whatever $1000 a month could get me

iaintafraidofnoghost > punkgoose17 08/04/2016 at 13:23

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$0 ain't going to get me far.

Out, but with a W - has found the answer > punkgoose17 08/04/2016 at 13:24

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Yay for socialist Europe!

adamftw > punkgoose17 08/04/2016 at 13:24

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LOL. If my wife traded in her Versa and threw $5k down she could just about get into a ‘17 M2 according to BMW’s calculator.

Supreme Chancellor and Glorious Leader SaveTheIntegras > punkgoose17 08/04/2016 at 13:30

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I owe $50 a month...so can I get like a couple rides on a MTA card?

The Lurktastic Opponaught > punkgoose17 08/04/2016 at 13:31

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Hellcat.

:-(

Dr. Zoidberg - RIP Oppo > punkgoose17 08/04/2016 at 13:35

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I could almost lease a 2016 Lexus GS.

Roadster939 > punkgoose17 08/04/2016 at 13:42

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Maybe the Auto industry should champion student-loan reform. They would probably get a big cut of the money from 20-somethings suddenly finding themselves with an extra few hundred dollars of spending money every month.

Milky > punkgoose17 08/04/2016 at 13:50

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*cries*

Wrong Wheel Drive (41%) > punkgoose17 08/04/2016 at 14:02

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Holy crap, I would be able to get something really awesome. But no way I would put that money towards a new car payment! Wonder what I could get for like $700 a month?

MontegoMan562 is a Capri RS Owner > punkgoose17 08/04/2016 at 14:09

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Well my wife is the only one of us that have loans, hers are around 250 a month

So that covers her used Jeep Commander payment haha

Bman76 (no it doesn't need a WS6 hood) M. Arch > punkgoose17 08/04/2016 at 14:11

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Nothing

gogmorgo - rowing gears in a Grand Cherokee > punkgoose17 08/04/2016 at 14:51

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Renegade Trailhawk? My loans are only around $30,000 so nothing spectacular for $400/month. I’m really only interested in 4x4's, so not much in the entry level segment.

iaintafraidofnoghost > Milky 08/04/2016 at 15:16

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What the.... Are you becoming a doctor or something?

Noah - Now with more boost. > punkgoose17 08/04/2016 at 15:18

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My monthly payment is very low, but if I all of a sudden had the thousands of dollars I still need to pay off, it’d be an XJR (X308)

trmoore09 > punkgoose17 08/04/2016 at 15:44

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I don’t have any student loans. but my wife does. Based on that we could buy a new Corvette, Hellcat, etc. Basically anything under around $70k. Fun fact: Duke is NOT cheap. That’s from 4(!) semesters at Duke (accelerated BS). You do the math.

Milky > iaintafraidofnoghost 08/04/2016 at 15:48

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Car design, private art schools aren’t cheap.

I love my job, but there’s a reason I’m still driving around a Crossfire.

InfinityAero > punkgoose17 08/04/2016 at 16:08

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I have thought about this many a time. Based on a 7 year payment plan, my monthly student loan payment would be equivalent to:

About right, dead on, an M4

or I could get one of these:

Of course, it’d be tempting to avoid scrounging for gas money— factoring in what I’d save on gas (what I spend now— about $200/mo), I could have a Tesla P70D:

InfinityAero > InfinityAero 08/04/2016 at 16:10

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Welp, looks like I got Kinja’d, but you all know what an M4 looks like...

nermal > punkgoose17 08/04/2016 at 16:10

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Nothing. School is paid off.

Arrivederci > punkgoose17 08/04/2016 at 16:18

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My student loan payment is teeny - I might be able to lease a stripper Versa.

Twinpowermeansoneturbo > jvirgs drives a Subaru 08/04/2016 at 17:02

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That’s an insane payment... Over how many years?

Nick Has an Exocet > punkgoose17 08/04/2016 at 17:09

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My loan payments themselves wouldn’t get me much. Mirage with all the options (AC?)

jvirgs drives a Subaru > Twinpowermeansoneturbo 08/04/2016 at 17:33

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10. trying to pay it off as quick as possible

punkgoose17 > trmoore09 08/04/2016 at 18:06

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Wow that is expensive. 4 semesters I would think that would be 4+ years.

punkgoose17 > Wrong Wheel Drive (41%) 08/04/2016 at 18:10

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You could get the Challenger too. I chose new cars because websites have financing and payment calculators. If I had no student loans I would not spend them all on a new car. *I’d buy a Mazda 6.

punkgoose17 > Nick Has an Exocet 08/04/2016 at 18:14

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Don’t worry AC is standard; however, a 4 star crash rating is unavailable.

punkgoose17 > nermal 08/04/2016 at 18:15

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Congrats

Twinpowermeansoneturbo > jvirgs drives a Subaru 08/04/2016 at 18:58

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Good god... I would stretch that as far as possible if I had such a large amount. It’s like half a mortgage payment.

iaintafraidofnoghost > Milky 08/04/2016 at 19:07

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Yikes

jvirgs drives a Subaru > Twinpowermeansoneturbo 08/04/2016 at 21:25

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0 I have a decent job/pay for being out of school for 3 years that can handle it. But I like the potential of being 30 with virtually no debt until I decide to buy a house

trmoore09 > punkgoose17 08/04/2016 at 22:46

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Nope, 4 semesters. Spring, summer, fall, spring. I guess since it’s a whole bachelor’s degree in 4 semesters, it’s kinda like a 4 year degree though. But yea, it was like 18k/semester.

RallyDarkstrike - Fan of 2-cyl FIATs, Eastern Bloc & Kei cars > punkgoose17 08/04/2016 at 23:13

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School is paid off for me as well, but if I were still in uni and had the money to buy a brand new car right now.....500 Abarth, because 500 Abarth. :P