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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

What is wrong with your current car? Why does it need to be replaced? If it does need to be replaced, why does it have to a 2023 model?

Imo, if you're not financially independent (i.e. not relying on your parents, own a home, emergency fund in place, retirement and pensions sorted) then you don't need need to buy a car that new. It's fiscally irresponsible. But I realise most of the US is trying to keep up with the Jones and feel the need to have a new car because it's a new car and everyone else has a new car.