sang05

Well as it stands: I'm working 5 days a week, going to start school in the fall but think I could be a full time student with the 2 days right?! But anyways getting $400 a week, roughly have around $1,600 by the end of the month so if I subtract the payments I'm left with $900, and just to be safe I'm going to take $100 out to for gas (thinking thats the minimum considering gas is about to go over $3 a gal. here in SO Cal.) and another $100 for maintenance & care. So I'll be left with $700 for me... I think I'm going to be having to pay rent in a few months so thats something that will play a big role on my decision... Plus in order for me to actually have the deal go throw my dad wants me to give him $2000 for the down payment for his benz so thats something thats making me think twice! If i don't take it then he'll just trade it in when he gets the benz... So total for the is250 will be 17,500+2000= $19,500 PROS: Will have Insurance payed for until the cars payed off. Will have my dad help me out if cant make the payment for that month. Will completely own the car after July 2011! *BLEEP*.... Its a IS250!!!!! :D Cons: The $2000 that he wants me to pay so he could add it to the down pament. Got the 65000 Miles on it. Dont really know how my $$$ school and just personal purchases are going to take in the coming months. (New College student & Just move back to Cali.) Still need to go to the dealership and get all 3 of the recalls done. Thoughts and comments Plz?! lol I'm a business owner and I have a family. In these times such as they are, I would say to you to consider 75-80% of your income as the total of you income. In your case 1600 should really be $1,200-$1,300 counted as "spendable income".The other 20-25%, that's the amount gas, groceries, rent and the general cost of living is going to go up. So, you might as well get used to it now, and save that money along the way. It kind of sounds to me as though your dad is thinking a bit more about getting a new car then he is thinking about his (son/daughter)'s financial beginnings and start up responsibilities. $700 a month for a car is alot of money to commit to in your situation. I would think your buying or not buying the car wouldn't have anything to with him helping out on a payment and with the insurance. So if I were in your situation, my answer would be " While the IS250 for $19.5 is a great deal, it's still too much money to commit to while your still "setting" up your life and have so many unanswered questions. And then look for a nice car around $10k. Thanks smooth1, truly appreciate your input on my situation, I really do feel that that was what his true intentions were to begin with but hearing it from someone else really puts thing in perspective... I really do love the IS250, but when your right your right, and smooth1 "Your Right!" (Really wanted to have a 250 as my 1st car tho.... his going to trade it in if I dont take it :( ) so I guess those "cheaper" alternatives are back on the menu for me... so what do you think they might be?

Well as it stands: I'm working 5 days a week, going to start school in the fall but think I could be a full time student with the 2 days right?! But anyways getting $400 a week, roughly have around $1,600 by the end of the month so if I subtract the payments I'm left with $900, and just to be safe I'm going to take $100 out to for gas (thinking thats the minimum considering gas is about to go over $3 a gal. here in SO Cal.) and another $100 for maintenance & care. So I'll be left with $700 for me... I think I'm going to be having to pay rent in a few months so thats something that will play a big role on my decision... Plus in order for me to actually have the deal go throw my dad wants me to give him $2000 for the down payment for his benz so thats something thats making me think twice! If i don't take it then he'll just trade it in when he gets the benz... So total for the is250 will be 17,500+2000= $19,500 PROS: Will have Insurance payed for until the cars payed off. Will have my dad help me out if cant make the payment for that month. Will completely own the car after July 2011! Its a IS250!!!!! :D Cons: The $2000 that he wants me to pay so he could add it to the down pament. Got the 65000 Miles on it. Dont really know how my $$$ school and just personal purchases are going to take in the coming months. (New College student & Just move back to Cali.) Still need to go to the dealership and get all 3 of the recalls done. What do you mean by "buy it from him and get your own loan on the car?" Thoughts and comments Plz?! lol

Yeah, BUY NOT LEASING...lol sorry didn't really get the Q's but yeah i'll be making payments to own!! So you think I should take it?! Or is their a better alternative?

think so, yeah... whats your take on the situation?

So I've just moved back to Cali. on the 9th & a few days later my father asked me if I wanted to take over the payments of his 06 "Fully Loaded" IS250 AWD. Being that it would be my first car, I don't really know what I should do. Before that I was planning to get something cheaper to start out with but when you got an IS that could be yours staring at you from the driveway, one forgets about "cheaper" alternatives... If I where to take the offer I would have to pay $700.00 a month for the last two years. The payments end July 2011, so I'm looking at 25 month, $17,500.00 total. I'm going working & starting college soon so I'll be needing a car ASAP. He told me all I had to do is to pay the $700 a month... thats it! He'll cover the insurance and everything. The car will be under he's name until it's payed off and after July 2011, he'll transfer it to me & it'll be all mine! :D Over all I know that the car has been well cared for and its been accident free and taken in for the regular 5000 mile oil change. The only thing is that his job needs him to drive back and forth from Los Angeles, Santa Ana, Thousand Oaks, and Simi Valley & because of this the 250 has about 65,000 miles on it. (20k a year!) Also, he hasn't taken the car in to get the recalls fixed either, but said he'll get them before giving it to me. but other than that it's in good condition inside and out. Another option that I was offered, was to get into paying $500 a month and help him pay for a new BENZ. Not sure but he's thinking of getting a CLK 550 or something, and we'll "Share & Switch" between the IS and CLK. (Knowing my dad he'll end up deciding who gets what every day...) both cars will be in his names. don't know when the payments going to end ( It'll be longer than the 2 years the IS go left.) and if he'll give me the title to the IS once its payed for...so IDK. What do you think I should do? P.S. thank you in advance for the help!