Background: 24 year old male, active duty E-3 (will be putting on E-4 in January), PCSing from Guam to New Mexico later this year and will have roughly $30K cash, no debt, no kids, no wife, 760 credit score, 25% into TSP every month. My monthly fees would be auto loan, insurance, gas, renters insurance, groceries, internet and phone with whatever misc stuff I want. Okay that should be enough background.
I am looking to purchase a brand new 2025 Honda Civic in January when I go on leave (prior to getting to New Mexico). This will be my first brand new car purchase, generally I have bought used, but I am looking to get a car that is going to last me 10-15 years that I won't have to think about & from all the research I have done… a Honda Civic is that! You may ask why not buy used? Well, Honda Civics used are pretty much identical in price to brand new ones, but they come with massive mileage on them.
I guess I'm coming here to ask if you all think this is something that is feasible and if it makes sense? The car market is insane and I'm very frugal and paying $350-$500 for the next 3-4 years (depending on how much I wanna throw on to my loan) is crazy to me, but I feel like it's something that I should get out of the way now so I can have a vehicle for a while.
Posted by yodakk