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Someone in my neighborhood is selling a 2023 Corolla XSE hatchback and it's about $23.5k (asked 26) is this a deal? And can I afford it? [USA] (lemmy.world)

submitted 6 months ago* (last edited 6 months ago) by [email protected] to c/[email protected]

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Afaik, it has no accidents, and the family is selling it because their kid is moving countries. Has only about 23k miles on it.

My overall net worth is $30k. I've saved all I can from jobs, don't pay rent right now (will be paying rent in about 5 months) and don't have any debt. I could take out a loan to help pay it off but I'm considering just biting the bullet and paying cash, how stupid is this move?

I make about 20/h and work fulltime, and since I'm with my parents I don't really need to spend a ton on food or anything. My total monthly spending ranges between 300-600 (300 is pure necessity average, no going out or impulse purchases)

I can probably sell my current car (2010 Ford Focus) for about $2.4k. I've never bought a car so this would be the first ever big purchase. It's a good car but I feel like it may be out of my range realistically.

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[–] [email protected] 0 points 6 months ago

At 26 you should focus on building more your net worth in investing in appreciating instruments, not the other way around.

If there is nothing wrong with your current car, I would say give this a pass and continue investing in ETFs, etc.