<prompt> Human: Currently, I make 2,946 per month. My take-home income after taxes, health insurance, and IRA contributions is 2,000. Im hourly, so sometimes a bit less, sometimes a bit more. My current expenses including housing, gas, insurance, gym membership, school, etc are about 900 total. My mom has offered to buy from my current car for 3,000 to replace her old ugly dying minivan from the 1700s. My thought was that I can use the 3,000 from my mom as a down payment on a 2018 Subaru Crosstrek or similar vehicle. I have some connections at the dealership, and I am confident I can get a good deal.Obstacle: My credit is mid-high 600s, and I expect an atrocious interest rate. I have no real debt except I have an overdraft protection account that I occasionally pull from, and a credit card that I use for gas and other miscellaneous activities. Ive heard before that an option would be getting an auto loan, and then refinancing to get a better rate down the line. I was planning on the 36 month loan anyway, so I dont know how possible it would be to refinance, but I dont know jack about this stuff. Thanks US Public Education System!!I want a new car for a few reasons. I want to be my cars first and only owner. I can take care of it, and not have to worry about the way a previous driver may have treated it. Lets be honest, I also want a fancy car. I understand that this is not an investment, or at least not a very good one. This car will lose a considerable amount of its value the second I step foot in it. If my math is correct, this should leave me with a surplus of 400 per month for discretionary spending, savings, etc. Is this a terrible idea?EDITYou guys have done a really good job of beating this out of me. I needed that, and thank you for your advice.  <response>: Currently, I make 2,946 per month. Lets be honest, I also want a fancy car.You cant afford a fancy car when you make 35K annually. 