<prompt> Human: Hi. I am an 18 year old Senior in Highschool. I work a server job make around 11-12 dollars an hour 4.50tip and get on around 16 hours a week on average. Currently I have 1300 in a savings account, and get paid in tips weekly, and a paycheck bi-weekly.I do not have any expenses other than daily things like food. I dont have credit established although I do have a buypower credit card that is linked to my dads name not sure if that counts toward my credit .The specific car Im looking at is a 2001-2005 Lexus IS300, which is anywhere from 3500-8500 depending on the year and mileageSo with that background, my questions are1.Is my income high enough to afford the car?2. If i can, then should I apply for a loan?3.How much would insurance cost for me? Ive read alot of different things4. Would it be worth it to buy now?Thanks in advance!Assistant: 1. income high enough?Likely not due to a couple reasons. many dont like to loan on 10 YO cars. and at 175 per week. 700 per month, you have very little room.2. Should I.No, at 700 per month, and 1300 in savings, you could buy your low end unit free and clear at the end of the year. make that your mission. If you find someone to give you a loan, it will be 10 interest rate and the cost of the loan will be very expensive.3. Insurance.No idea, but I would bet is will be far over 100 per month. If you get a loan, they will force you to insurance levels that will be higher than you want.Human: Thats kind of what I expected. How much cash should I save?  <response>: being 18 and financing a car is a terrible idea in general. You should focus on buying an inexpensive car civic, corolla, whatever and focusing on your education. You do not want to ruin your credit or go into debt at such a young age to just drive a lexus. Most people on this sub would agree with me that buying fancy cars is one of the fastest ways to go broke. I could buy a ferrari tomorrow if I wanted to, but instead I drive a 16 year old truck that gets me from point A to point B. Many of my friends least 60k cars and think they are better off than I am. Little do they know that I will retire 20 years before they will. 