I need Atlas' help! Any financial majors, or anyone, to buy or lease a car?

[Ban my account ffs!]

Honestly, I would never BUY a car.  Lease it.

Wow.  Talk about tone deaf.

I guess he did talk about "borrowing the car for three years" which is not something I've heard about.

[Ban my account ffs!]

How much are the car payments?  

Judging by 9000-1500 down payment...7500 over three years/2500 per year or 200-250/month...plus 2000 a year for insurance...that's $4500 per year out of $12,000 before gas or maintenance.

Unless you have a significant raise ahead of you this would be a bad choice.  Hit up your parents or find a cheaper car.

[Ban my account ffs!]

Honestly, I would never BUY a car.  Lease it.

Wow.  Talk about tone deaf.

I guess he did talk about "borrowing the car for three years" which is not something I've heard about.

LOL, watching an Illini game, but what?  Those were the poll options.

Yeah i didnt see the poll options.

I just thought you were suggesting he lease a new car.  I've never heard of leasing a used car.  But suggesting a new car lease on $12,000 a year income is folly.  And probably not possible.

[Ban my account ffs!]

How much are the car payments? 

To own is about $226 with an interest rate of 5.4% and a period of 36 months.

Lease for 36 months is $113

In this case I'd lease for sure then.  But prepare to keep it in tippy top shape.  Oil changes every three months, tires in good condition, no spills/stains.  Allow for extra maintenance in the budget. 

[Ban my account ffs!]

I mean... I'd strongly strongly recommend finding a cheaper car.. more in the $5000-6000 range.

Even with the lease you're looking to spend like 28% of your income on just the car and insurance.  This was fine for me, for example, when I was in high school and living at home and knew I would be the entire time I was paying the car off.

But you're older and who knows what you'll be doing in 3 years.  It's prudent to borrow $3500 rather than $7500.