<prompt> Human: I am 20 years old in the military, first time alone and first time fully financing by myself. I have a lot of questions regarding car payments and insurance.I am about to purchase my first car and i am not too sure if i can finance a new car, or maybe i should just stick to a used car and pay cash.Anyways, I believe I do not have a credit scoreor maybe a really low one because ive never had a credit card dont really see why I need one but i was wondering if this will stop me from being able to buy a new car, because of no credit. If i do have really low credit, will my payments be more ?I make roughly 1700 a month and am looking at a 300-400 per month payment car. Now i know there might be down payments, but I think i will be okay with that, but how about insurance. Whats the average full coverage insurance i could expect at 20 years old?300-400 per month plus insurance maybe lets say 150, so 550 per month does not seem too bad, I think i definitely have that. but maybe am i missing something? I know dealerships only want your money so I would like your guys advice. Thank you!EDIT: thank you all for the advice! After reading and reviewing everything, i think i will just wait and save up moneybuild credit. I do not need the car, everything is walking distance to me unless I want to go travel. If i do, i will definitely just buy a used car. Thanks all!  <response>: By the way, please watch out for dealerships near bases and posts. They eat guys like you and there are a never-ending supply of guys in your position... for breakfast and make a killing.So, first things first, you are going to make sure you are signed up to be contributing to your Thrift Savings Account TSP. This is not a negotiable step. Most civilians who know anything about investing would LOVE to have the opportunity you have in the TSP. Start saving now and youll never even notice the money is missing from your pocket. Seriously, plan for your future, please.So first question: Do you NEED a car? Like, right now, is it necessary? Because if not, my advice is to just not buy a car at the moment.If you can trust yourself to be responsible, apply for a credit card you may need to get a secured one and use it for small purchases and pay it off right away. This will help you build credit. If you dont think you will be responsible enough to pay it off every single time, skip this step for now.Next, start saving money like crazy. If youre active duty and single, so much of your living expenses should be just about zilch. This is how those dealers get you, by the way. You probably feel like you are rolling in cash at the moment. This is evidenced by you thinking 550month -one third of your income!- towards a car is reasonable for someone in your position.Save an emergency fund. So, you NEED a car? Save for an inexpensive, reliable used car. With your almost non-existent living expenses, you should actually be able to do this relatively quickly if you pay attention to your spending.Hear that? Do NOT buy a new car. Do NOT take out a loan that will cost you 13 of your monthly income and which will likely have a predatory interest rate. You WILL regret it down the road. 