<prompt> Human: Im 26 and since I started driving Ive been driving clunkers. My current car is a 92 Buick LeSabre. Ive put 4 times its worth assuming it was in good condition--its not into repairs over the last 4 years, easily. Its got no horn, its held together with duct tape, and its ugly. But it runs well enough. Ive been looking at the upcoming Tesla Model 3. Its 35k and it comes out at the end of next year. No more gas, better for the environment, autopilot mode, high quality and a working horn. I want it, and Im determined to make it happen. My financial situation: About 8k in credit card debt6k in student loans not accumulating interest atm No savingsIn school for Radiology tech with about 3 years left to go. Projected yearly salary on graduation: 50-70k a yearCurrently a Massage Therapist pulling a little over 1400 a month month-month varies due to the nature of the workMonthly bills: 100 for car insurance basic120 for cell100 in subscription fees Netflix, Hulu, audible, spotify80 on student loans200 in credit card payments I do most of my purchases through credit to take advantage of various cash back offers, and I usually pay much more than the minimum on every card20-40 a week on gas100 on expenses for petsIm living with family and theyre covering utilities and rent. I can pick up a few extra hours at my job. Its a tough line to walk though, because a repetitive stress injury from pushing myself could result in me being unable to work. Im thinking of picking up another 5 hours, which opens up between 300 and 600 dollars a month depending on how well booked I get. On top of that, if I cut back on expenses hobbies and the like I could definitely be saving up a lot more money. Last month I only spent 300 on food because I mostly make my own meals and I paid with some using my cash tips which usually go to hobby expenses and my gas tank. Between cutting down on non-essentials and picking up extra hours I could potentially save up between 900 and 1200 a month, realistically Id say that 800 and 1000 is more likely. So heres the question: The car is 35k for the most basic model, and I have roughly 12 months to prepare. How do I most effectively use this money towards the purchase of this new car? Im assuming that getting an auto loan is the best course of action here, but I have no experience with auto financing. My credit score is about 650 right now, mostly because I have almost all my credit tied up. If I pay off a lot of this credit I could potentially increase my credit score, which would get me better terms on the auto loan. Or, I could save it up and put the money on the downpayment, directly lowering the monthly payments. I definitely dont want to be in a situation where Im crippled by paying off a car loan. Id like to pay as little monthly on the car loan as is possible, and I dont mind stretching it out over a longer period and paying more total if it can give me extra breathing room on monthly bills. Im also aware that Ill have to increase my insurance cost with the new car, Im estimating 250 monthly on that although Im not sure if thats realistic or notAssistant: Wow. Woke up to find my inbox flooded lol. Im consolidating all the replies into one mega reply because I cant manage 28 separate conversations. So thanks for the replies everyone, the wake up call is appreciated. I realize Ive been living beyond my means...its something that is very easy to do. When you easily pay off your monthly credit card bills by several fold I guess it doesnt seem like that much of a problem...Its hard to see the forest from the trees. Ive just been sinking so much money into this goddamn hunk of junk that I was ready to ready experience something that wasnt garbage. Im definitely going to get a better car within the next year, I think, but I think Im going to make a goal of paying off at least half my CC debt first. Im still going to pick up the extra hours at work, it might be time to sort this out. Also, on the issue of Teslas production potential: I thought that with the construction of the gigabyte factory they could fulfill their production potential of 500,000 cars a year? I mean, you guys have made it clear that its outside my means, Im not planning to get it anymore, but they should be able to fill their current pre-orders by 2018 from what I understand, assuming that they arent already producing their first wave. Human: When you easily pay off your monthly credit card bills by several fold I guess it doesnt seem like that much of a problemBut youre NOT paying off your bills. Youre paying the minimum. I believe that somewhere on your bill, it will show you how long it would take you to actually pay off your current bill by making the minimum payments; it is a LONG TIME. Youre basically just paying a fee to allow you to continue racking up debt.Assistant: I overpay the minimum by about 3-4x on each of my cards a month, I mean. On the card I put most of my expenses on I pay about 12 times the minimum. Occasionally I only pay the minimum, but its pretty rare. Ive a bit of a spending problem though, as soon as I free some money up I keep spending it. Im going to stop making large purchases for the next few months though and get this sorted out.  <response>: The minimum payment is just bait to keep you on the treadmill of debt. You should be paying off the statement balance and ignoring the minimum payment. When you can do that the credit card company will then be paying you to use the card instead of the other way around. 