<prompt> Human: Hey personalfinance. Im a 21 yo college student. I am currently working as a waiterfood runner at a pretty nice restaurant. I make about 700 per pay check during good weeks and work about 40 hours a week. Im taking a break from community college to work. I want to buy a new car, a 2014 Mustang from the local repo lot. Its a 20k car and Id be paying 500 a month plus like 180 for insurance with 0 down at a 2.99 if I have my parents cosign. I really want this car badly. But I also want to go back to school and possibly move out. I dont want to rent an apartment because I think thats a waste of money so Im thinking of buying one instead. I dont have a credit score or anything though, so I dont know how that will hinder me. My girlfriend and parents have been telling me that I should buy something cheaper but I think Im making okay money now and the restaurant season is picking up. Should I be able to buy this, go back to school and move out?  <response>: This is a terrible decision. You cannot afford this car. Am I understanding correctly that you are making 700 bi-weekly? If so, that is an annual salary of 16,800. This car is significantly beyond your means. I am not trying to be rude or insulting, but you are right at the age where big financial mistakes can truly set you on a bad financial path for the rest of your life.Keep living for free, drive something affordable and purchasable with cash you are saving your paychecks, right?, and finish school with as little debt as possible.When you land a job that pays enough for you to be a self-sufficient adult, then you can start looking at upgrading your ride. 