<prompt> Human: Im coming out of college making 70,000, but I have 65,000 in student loans. Im currently living with my parents, and using a car that they have let me borrow while I finish college I graduate this week. Im going to continue living with them for the next year or so to knock out a big chunk of my loans; but I need to get a car so I can actually get to the job. Is it completely insane to finance a new car under 20,000 given my current situation? I have 3,000 that I was going to use for a down payment, and I dont see any issues paying for rent, loans, car payment, other bills. I only have a basic knowledge of cars, and I feel like the cars Ill get for 3,000 will need a lot of work, or could have bigger issues down the road. Since I can make the payments, it seems like it shouldnt be a huge issue; but it also sounds like a bad idea to tack on another 18,000 for a car loan...  <response>: Remember that a car is a lot more than just a loan, there is the cost of insurance, gas, and potentially property taxes. Added together, you might be looking at well over 500 a month. This all also assumes free parking and no tickets.So, if it is possible for you to keep borrowing their car, I would do so. There may also be other commuting options like public transportation, carpooling, or moving within biking distance to work.If none of this is possible, then I would at least look for something a used car that is a few years old. The increased maintenance costs will be smaller than the amount you will save. 