You don’t make money buying the top.

No way. That’s 37% of your income. What happens if you want to move out in the next few years - you won’t be able to afford it.

Check with your insurance agent about what cars are more reasonable to insure. I think the general recommendation is no more than 1/3 of your income on housing. And the car with insurance is more than that.

I'd walk, unless their interest rate is somehow lower than your outside financing.

If your company offers a 401k and you aren't maxing it out I'd do that first and use this money to subsidize the lost income. Also a Roth IRA is a great option if you aren't over the income limit, $6500 is the most you can contribute annually. Both of those other tax advantages which is why you should focus on them first, but after that I'd just go through a regular taxable brokerage and put it in an index fund which tracks the s&p500.

Not a good idea to rely on the exception, rather than the rule when it comes to money ;) Either way, taking on "financing"/debt for a car is dumb and unnecessary for personal use. It does nothing, but lose value and cost money over time. A complete financial loss in every way. Unless you use them for business, where you can write of depreciation, etc..., they can't really be justified, and they're made like crap. When is the last time a week went by when a major auto manufacturer didn't have a recall, or fire, or debt spiral, etc....?

Did you fill a w-4 when you started?

It is a car which depreciates over time so it is best to pay off auto loans as soon as you can.

Refinancing is usually not as good of a rate as buying it brand new.

Just leave. They're not forcing you to buy a car.

Unless there's a very specific car there that you can't find anywhere else I'd find somewhere else to buy a car. There are 2 of my cars dealers in my area. I don't like who took over my dealership so I don't deal with them anymore.

Confirmation bias much? Of course research “scam” after anything will give you the results that validate that.

Not that you’re asking OP, but the best advice I’ve ever gotten is to never take advice from someone else’s experience, especially on Reddit.

Was your friend trying to scam you for a commission? Potentially. We’re they doing the best they could with the way they were training? Potentially.

Truth is that you don’t know, so don’t assume.

Seek to understand more and ask questions. Ask people who’ve had whole life and/or sell it. Be curious to learn, don’t take someone else’s word for it.

To be blunt, hell no. $900 a month to drive a leased vehicle, you only make $2400/month, and 9k in debt? You need to reevaluate.

It would not be a smart financial decision.

"I know nothing about money, BUT....." <--- Every commenter here.

Pro Tip: CAR PAYMENTS ARE A WASTE OF MONEY. Avoid them like the Plague.

"Treat Yo' Self!" is not the most sound financial advice one could give, or receive regarding this matter.

IANAL but I'm almost certain beyond a doubt that they legally can't force you to use any financing from them. What if you wanted to pay cash?

They can require their financing for promo rates, etc, but a blanket no outside financing is questionable at best.

Stocks are on sale - it's a great time to buy, buy, buy!

Not the best. If you aren't willing to walk though, then you are stuck. If you can prepay the entire loan at any time and no cost, you can refinance later if you find a better rate.

There are better ways to build credit than paying interest. Paying off a credit card regularly before interest would do that.

Pay off that loan.

I would personally find a new dealer. That is wild as a policy. I’m guessing it is a small dealer and not a large one part of an auto group.

Buying a car already has enough paperwork. Let alone you buying it, waiting 2-4weeks for the new lion to be set up, and then getting a whole new loan

Buy low, sell high. Time in the market will beat timing the market. Just keep on putting as muc h as you can in 401k

What car are you looking at? New or used? If it’s used, how many miles? Maintenance is a bitch. Also, is that 900 including gas?

Ignore who ever gave you that advice from here on out.

If it’s a match from your employer. Hell yes keep funding it.

If you’re worried about a stock market crash…. I don’t know which way the market will move tomorrow but I can tell you if you have a 10-20 year time horizon it’ll be a temporary drop (Look at the market 10-20 years ago vs now & we’ve had plenty of drops).

If you’re worried about losing your job in a recession and needing cash…. That’s more of a valid reason for not funding it for a bit.

Pay in cash. Investing for short periods ( up to 7 yrs ) does not have the same history of positive growth as long term investments. Pay off the car and sleep peacefully.

No, Run away fast. You will be taken to the cleaners. They have hungry commission based sales people. You are talking to an insurance pusher.... not a financial adviser.

open a brokerage account at Vanguard and invest in index mutual funds.