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is your relationship with your parents very good/stable? I would take the upfront option (paid rent) over the three years later option (car) even if the car is worth more, because I'd be concerned the car offer might disappear by the time I got to that point, if your relationship with your parents breaks down or they get into financial trouble.

the other thing to consider is what quality of life impact living in the apartment would have - are you and your friends party people? are the dorms particularly shit? basically, what is living in the apartment worth. also, how does it impact your food and transport costs?

are you working at all? how long would it take you to save up $25k and if you did, would you spend it all on a car?

What about food cost? Don’t you need a meal plan on campus?

1. Compare what's available in the dorms and apartment. When I entered college, I lived in the dorm for 1 week before I moved out to an apartment within walking distance. Sure I paid more but it was better than sharing a cramped living space and facilities with other people. I also had the freedom of having more options for food and transportation was easier (apartment was closer to public transportation).

2. What are your friends like? My housemates all agreed that our apartment would never become the party house and we always went to other people's apartments to hang out (we also had a lecturer living below us so...). Yes a few of my housemates were always out doing their thing but the apartment was pretty quiet most of the time and our coursemates would always come over to study and do assignments/projects. Have you and your friends discussed this?

3. Finances. It's great your parents will pay for the apartment but would you be able to afford living there when they stop? Also it's great your dad offered a 25k car but do you need it? Also who would pay for insurance etc? Would you become the friend that always gives others a ride?

From mathematical standpoint, I agree.

From personal experience, I disagree. I would not trade my last 3 years of college in a dorm for a $25k car.

If you get a good job after college, you can afford to buy a $25k car relatively quickly. You may get a job offer in a city that doesn’t need a car. You probably don’t even need a $25k car but can make do with a $10k car.

Money comes and goes but living with great roommates in your own place for 3 years can’t be replaced. This is definitely ‘personal’ finance so definitely weigh all pro’s and con’s for each OP!

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OH MY GOD take the car.

My grandparents gifted me a car *a new one* after college because I paid my way through college. That car lasted 15 years of reliable transportation during my most tenuous earning years. I never had to worry about my car getting me to or from whatever job I had, because it was new and reliable and awesome. It was fuel efficient and I could count on it to do what I needed it to do.

If they're paying for you to live in the dorms for four years, live in the dorms. They are fine. They are fantastic. They are where networking happens and people have great conversations at 4am over pizza and studying for finals. Dorms are just fine. Meal plan is paid for and you don't have to worry about feeding yourself. Take. The. Dorms.

I loved living in the dorms because I didn't have to worry about anything. Once I moved into a house with roomies things became so much more complicated and expensive in both time and money. The dorms are fantastic if your parents will pay for it. That's the dream.

If you can get a single in a pod of rooms, that'd be awesome. Do that.

Good luck. Take the car and live in the dorms.

This is definitely personal preference. Moving to an apartment was infinitely better for my sanity. No dorm rules, a living room and kitchen to hang out in, living with your friends were all huge benefits. Negatives included no dorm rules (loud roommates), leaky kitchen and terrible landlord, more space to maintain, travel to/from campus, easier to be secluded from school activities.

In my opinion, who you live with is make it or break it. Living with wonderful roommates will pay dividends in your future career, mental sanity, and friendships.

As an aside, $4,000 x 4 years is $16,000. Could you parents buy you a $9,000 car after you graduate which would equal to the $25k they are offering? Is there another reason they don’t want you in an apartment?

You don’t want to live in the party house… you want to be friends with the person who lives in the party house

When I was in school, I wound up saving a lot of money by living off campus, because I could eat lentils instead of paying $$$ for the required dorm meal plan. If that applies to your situation & isn't already part of your calculations, add a food budget, see if the numbers change.

Do the dorms really suck? Do you need to move out in order to have a sex life or a quiet room of your own or something like that? I think it's worth paying more for an apartment if you're getting a big upgrade in privacy or study space, but not for aesthetics or parties or the ability to have a cat or whatever.

This isn't even a conversation. You take the car.

Your buddies are going to have a couch for you to crash on. For you to be able to get a car after getting an education is going to set you up in a huge way.

You know what you need to do. The beauty of being in college is that you get to finally enjoy spending most of your nights at a place where you might not receive your mail.

This is an easy choice in my book.

Don't fall for the how much monthly are you looking to spend sales tactic because dealers can easily get that for you but they'll add it to where you are paying on it for 8+ years. Depending on what you are buying you do not want to exceed 5-6 years maximum imo.

Also research multiple dealers and cars online and try and negotiate online between multiple dealers, But be wary of advertised internet prices as they will include a bunch of rebates as the rock bottom price but you may not qualify for any of them when you go in to negotiate.

Yes there is. Most policies provide this. Try to pay over the phone ASAP. OP or the mom dude should have received a notice of cancellation if it really canceled.

Least that’s what HOA insurance providers give. Volunteers are not always the best at approving bills…

the end of December is next Saturday

To clarify - - you were able to finance a car on your own before you turned 18?

I got my blue cash in like 2010 I think? And saw posts about it being amazing back to around the mid 2000s back when I was doing big manufactured spend

Most car dealers are legitimate business, they aren't out to scam you.

McDonalds has chicken nuggets, burger king has chicken tenders.

Visa has a 16 digit number + 3 digit code (on the back), Amex has a 15 digit number with 4 digit code (on the front)

That was my first AmEx but I got it less than 5 years ago. I had no idea they went back that far.

> Curious question: When did AMEX change from everything being due at the end of 30 days to making payment like a regular card?

Depends on the kind of card. Some like the Blue Cash series let you carry a balance. The classics like green and gold don’t. So make sure you know which one you have.

> Is there anything else I should know before swapping my main use from Visa to AMEX?

Know your benefits! If you get better rewards on one kind of purchase (say gas or grocery) then use that card for that kind of purchase.

Also if your card has AmEx offer support, keep an eye on them. Some of them can be really good, especially if you were going to shop there anyway.

Example: I’ve seen an offer for a normal grocery chain (think Kroger/Safeway/etc) for a $20 refund after spending $100 in groceries over multiple purchases. It was so easy to do that in the 90 days or whatever it was and you basically got 20% for using your AmEx.

Better yet - join Costco and just tell them what you want. Best price, no hassle.

Oh sure, I had assumed by the questions he meant the charge cards. That’s good clarification though

Amex has had regular credit cards like the Blue cash since at least..2006? Maybe earlier.

> They didn’t. You have to use the pay over time feature

Not entirely true. It depends on the card. So the classic cards like the green, gold, and platinum must be paid off every month in the traditional AmEx style unless you use pay over time.

But they have a few cards, like Blue Cash Everyday, that work exactly like a Visa or MC and let you carry a balance.

So it’s important to know exactly which card you own.

Look up YAA on YouTube. They have a ton of information on this topic.