Student loans for purchasing anything outside of necessities = not a great idea.

 

Good luck.

 

A necessity would cost me 8k minimum, and I would still have to get a student loan to get it. I drive 22 miles one way to my school 3 times in the week. The car is a necessity.

 

My daily driver cost me $1500, and I drive 51 miles one way to work 5 days a week.

Either way, $8k is still $12k less than $20k though. But you've already made up your mind, so:

/Thread.

 

I can understand wanting the Z. I bought my 04 Z for $12500 with 51,000 miles on it. It was nicely modded and in great shape. There are better deals out there if you really want one. I am currently in college also. However, I worked and saved up until I had enough to buy one. I actually got mine for a lot less then I was looking to spend. It sounds like you have made up your mind already. I think you can find a low mileage 04 05 Z for a lot less if you wait and look. I plan to use my student loans for grad school.

 

You don't seem to know the first thing about Stafford loans - your explanation is not just off-base, it is not even in the ballpark. Take it from a parent who has two kids in college. For most students, parents income determines both how much you qualify for, and whether interest accrues immediately or 6 months after graduation, which is when the payments start. Regardless of whether you qualify for the best interest rate, 4.5%, or end up at 8% which is what I am stuck with, you cannot invest in a CD with that kind of return. 2.5k is, again, not even in the ballpark. And they don't cut YOU a check anyway, at least not for Staffords - they pay your tuition bill, or whatever amount you qualify, for directly to the school. Once you get it in place, they pay every semester.
How old are you anyway? And where do you go to school?

 

I said I was 20, I go to the University of South Florida. (Computer Engineering 3rd Year)
I qualify for the Subsidized Staffords, every year so far since freshman year. I know that they don't collect interest or start to capitalize on interest until after I'm out 6 months post half-time student status. Still pretty good to use that time-envelope to invest the increased NET CHECK i'd be getting. I already receive hefty net checks every semester which would pay off the loan and my car insurance payments. But then It would leave me with almost a few dollars to go by. If I took a loan, I'd have more money untaxed, not gaining interest, and deferred, sitting in a bank. If I took up a job, internship coming next summer. Then I'd be super. Thank you Perfz

I'm just trying to take every precaution I can before making any big decisions.

 

^^^^^^Clueless. You did not respond to single point I made and that post makes even less sense.

 

 

Did you offer $18k as I suggested?
Did the seller accept?

 

OP. Dont buy a Z. Stay in school. Keep off drugs.

 

+1

People's priority nowadays are so screwed its scary

 

Nothing happening here folks. Move along.