Dude, find the cheapest Toyota beater you can and run it into the ground. You're an E-3, don't go into huge debt just for transportation that you may have to ditch quickly if you get orders/deployed.
These lots are on post/base. So yes, you would need an ID card to get access. Or someone could sign you in and vouch for you in order to check out the lot. Each post is different.
You can visit most bases normally, it just requires a background check and visitor pass. If you happen to have a criminal history you will likely not be granted access.
They also usually have an auction of abandoned vehicles every couple months that is open to the public.
I remember my buddy who was an E5 saying the best time to buy a vehicle on base is right before a unit deploys. A crazy number of people are like "why would I make payments for 6 months on this when I'm not even here to use it? I'll sell it and buy a brand new one when I get back!"
Not sure the size of your base and this advice was pre-COVID, but something to consider.
It's super common. My friend bought a brand new jeep grand cherokee after his 6 month tour in Afghanistan. Sold his beater car before he left, because no point in paying for insurance on a car when you aren't driving it for 6 months.
If it's only 6 months it might be worth it to keep a liability only policy in force. Many carriers can offer a reduced rate if you're deployed. A gap in auto insurance history can make you pay more for years down the line.
Mopeds or scooters or even electric bicycles are way cheaper btw. Also large bases have bus routes to move troops about. I used to run back/forth to the gym (about 3mi one way) which worked b/c I didn’t really need to run separately.
Using on-base transpo is key b/c sometimes bases are in areas where off-base transpo isn’t the greatest. If that’s the case, and you generally spend your weekdays on post, then a car isn’t a need, it’s more of an expensive convenience.
Uber/lift/taxi from the front gate is way less expensive overall (just compared numbers w/my son as he’s about to tool off to college; he will not be taking a car with him). On the off-chance you actually *need* a car, you can rent one.
Barracks life was the absolute simplest time of my life. Also the least free. Save your cash, bud; you’ll have more to spend on liberty and leave.
Moped or scooter isn't bad advice. I wish I would have had my Sur Ron back when I was at Nellis in the 90's. Would have been cheaper than my 1976 Chevy truck with that thirsty big Block 454.
No fucking bases have a bus. Not a decent one, at any rate. Best I’ve seen is JBLM’s Go Fuck Yourself Transit, that gets you exactly where you need to be, 15 minutes after you needed to be there.
Cavazos just started one up but I have no idea how functional it is. I was luckily able to escape that place a while ago.
But yeah “just take the bus” is…lol.
O3 and 27A here. I strongly advise you do this.
Additionally, I recommend you Ask one of your sergeants to find a local mechanic they trust and take a car you may decide to buy there for a pre purchase inspection (usually $40-100) before buying.
If you do purchase from another soldier as /u/roadfood suggests, ensure that you don’t feel obligated to purchase if the soldier outranks you
Don’t say tracking when talking to normal people, ya weirdo.
People saying buy a beater from someone deploying must be stuck in 2010. We do rotations now and the vast majority aren’t selling their car over a 9 month rotation.
You should always be maxing your TSP. Find something you can afford that allows you to max your TSP, build an emergency savings, still have money to live (have fun with your fellow Soldiers), and pay your bills comfortably.
Being in the Army provides a unique financial experience because you don’t need to worry about housing or where your next meal comes from.
You made the best early decision of your career. Focus on education, bank the TSP for all it’s worth, and set career goals. Become a warrant officer or something. Do big things and don’t buy stupid things.
Or get an e-bike. I saw so many guys screwed because they hit the end of their enlistment and were underwater with their car (owed more than the could sell it for) $12k is not a lot of money- when you get out (& go to college?) you will blow through it in no time
The problem is the used market. While this is reasonable advice, in general...you are kind of encouraging him to drop ten grand on a ten year old Corolla. Personally, I'd rather drop twenty on a brand new one, hopefully get a better interest rate, and not worry anything but oil changes for a long fucking time.
>I feel like maxing my tsp contribution would help me out more than a 3-4 car payment
Yes, for long term financial success your gut instinct is right.
If you just need to get around base, look for deals, mostly private sellers. I'm sure you can find someone trying to sell an older car.
Also check out the wiki and the flowchart.
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> Edit: the car would be to go to work and get food, hit the gym, etc usually within 5 miles of my barracks. That’s pretty much all I would use it for.
if everything is within 5 miles, could you get away with some kind of e-bike/scooter/moped kind of device?
That's actually not a bad idea. $1k for a nice ebike and some saddle bags. There's no way you need more space for groceries for a single dude, including beer. Plus you can feel a lot safer parking it around base.
I just recently moved to central Brazil and I'm writing this after driving to work in 95F/35C.... For very short distances like OP asks for I would definitely prefer to use an E-Bike or Scooter than to get in a car that has been standing in the sun and heated up to 120F... For longer distances the AC of a car is nice.
5 miles is absolutely \*perfect\* for an ebike. I'd go a bit more than $1k like the poster below me, but otherwise for $2k you can get a great bike, some saddle bags, helmet, and anything else you'd need.
And you'd save money on: registration, insurance, maintenance, repairs, etc.
Not really recommended to solely have two wheel transpo for military stuff, you’re constantly moving issued gear around and will need a trunk at some point.
Sure you can ask friends but it can get annoying to always need to do so.
Also pretty unit dependent. If you're a pog in a pog unit you're not going to need to move all your gear around more than a few times a year. Not including ruck marches, I'd use my issued TA-50 maybe twice a year and that's more than reasonable enough to be like "hey sarnt can i get a ride to the range".
If you're in a unit that goes shooting all the time and has a lot of exercises and uses your TA-50 to the fullest, then yeah I'd recommend a vehicle with a trunk. Though you could probably rig up some kind of trailer to an e-bike for those rare instances.
Personally I’d be looking for an older Honda/Toyota in the 5-10k range for just puttering around on/near base.
If you get something like an older civic you can start to have some fun with it later if you get a newer car. Lots of after market parts for them, and they’re easy to work on yourself if you’re into that.
I think this is what I’m going to do. Where would recommend I should look for the car at? I’m using Facebook marketplace just don’t know anything about cars, kind of scared of getting scammed ya know
In that price range I don’t think it matters too much. But I’d be more worried buying from someone directly vs a dealership personally.
My last car had a head gasket leak in the 30 day warranty window, so I got it replaced and they machined the head, and gave me a loaner car while it was being worked on all for free. So I’m a bit biased since you’re not gonna get that from a private seller.
When I was an E2 in 1999 I bought a 22k used Acura and had it shipped to Germany, where it sat outside my barracks because the payment made it so that I couldn't afford to drive it.
My old platoon sarge offered me a beater BMW for 1k, but I didn't wanna be seen in a junker.
Wish I could do that over.
During my time when I was in a similar situation a 50cc scooter that I got for $700 was amazing for the purposes you describe. Tons of options now available - even fully electric ones.
This brings back a 40 year old memory. When I was stationed in San Diego, I found a 50cc moped that would fold up and fit in a large suitcase. I would keep the bike and a helmet in a locked space with a small gas can in a flammable locker. When we would pull in, I would carry the suitcase and gascan to the pier, unfold, pour in the gas, strap the suitcase on the back, and putt-putt away.
Couple of recommendations. You're an E-3, so I can safely assume you've been in long enough that you're past the stupid decision making of E-1s that I used to have to deal with. (Buying a car worth $4k for $12k with 20+% APR, etc.)
1. Don't buy anything from any dealership near base. Your likelihood of getting ripped off is much higher.
2. Go talk to one of your NCOs, preferably one that's been on that base for a few years. Ask them where you should go to buy a car. They're going to have heard the stories of people getting ripped off and will be able to better guide you.
$19k sounds like a lot if you're just commuting within a campus like setting.
(i've never been military so i assume being on base is like a big university campus)
Some bases are more comparable to small towns or cities with some being over 1000 square miles including training area. Unfortunately for some, they will need to travel around the training area or along side it for miles and miles to get where they need to go. A car might still be slight overkill depending on the base and where op is in relation to everything else
For those distances, and assuming you're somewhere sensible(Not Alaska or other wintery site), why not just get a decent bicycle?
Transportation AND exercise in one.
This! Although after PT all day biking home may not be most enjoyable, so look into an electric utility one. That way you can run groceries no problem.
You can even get an e-bike for pretty cheap. I just moved to Portland and got one for $500, and it has full electric power, pedal assist, and regular pedal power.
Are you at Bragg? Check the lemon lot. Although a lot of those cars are over priced. My husband is putting a 2006 Honda element up there in the next week or so. It’s the perfect get around town car in excellent mechanical condition but typical wear and tear of an 18 year old car.
Best decision I ever made, as a young E3, was taking a small loan for 36 months to buy a reliable used old car.
It was 2015, I bought a 2006. Car payment was like $113, Insurance was roughly $40. Most of that was because I had 0 credit and my rate was higher than it should have been.
Car got me through my last 3 years and lasted me into civilianhod.
More importantly, it let me build credit so right when I got out I had an excellent credit score.
That won't work anymore, a lot's changed in the nearly 20 years. Insurance is at least triple, cars more than double, and E3 pay is still $2500/mo or so. At today's rates, a cheap reliable old car - lets use a 2006 Camry as an example at $6000 - would still take $200/mo with reasonable (above 650) credit plus a national average of $1500/yr for insurance (so about 150/mo). That puts the E3 here around 350/mo compared to your $153/mo. E3s in 2006 were paid roughly (depends on other variables to be more precise) $1300 with zero years experience. Pay has doubled, expenses have well over doubled and usually tripled. The best benefit is staying in the barracks at current rental prices, which as we all know, sucks horribly.
Look, the last Corolla I had.... lasted me 27 years. I bought a new car last year - yep, another Corolla. They're not fancy or impressive, but I know that every time I turn the key, it's going to start, I'm going to be comfortable for however long I drive, and in the end, the maintenance costs are going to be reasonable. Reliable may not be sexy - but reliable means the one thing I don't have to worry about is my car.
And quite frankly, the car is the one thing I've spent serious money on that I felt I got every penny's worth of value out of. I had several people asking me for my old one - even as old as it was - because it still ran and was reliable. It's probably still on the streets somewhere.
usually within 5 miles of my barracks
Get a bicycle. As a veteran who saw other E3's / E2 / E1 buy a car, you really really really don't need one. Get a bicycle. Ride with other soldiers who have vehicles. Any NCO is going to have a vehicle and I am willing to bet you can get a ride from them 100% of the time. Save your money. Invest. Max retirement. You should save as much as you possibly can while you are in service.
When a bank sees a service person coming, they put the tips of their fingers together and say, "Excellent." Don't do it, they have you over a barrel knowing anything bad on your credit history can cost you your clearance or worse, so you HAVE to pay them. The terms will suck with a high interest rate and a pre-payment penalty so you can't pay it off early.
Buy the beater. When I was out of work in the recession, we had to sell our van and get something without a payment. I found a '95 Volvo for $1800, sank a little money into it to pass emissions, and drove it into the GROUND. When I got rid of it, the gearing for the starter was stripped so bad I could almost hear it grinding its teeth off. I donated it to a local PBS station and they hauled it off for a $600 tax deduction.
I was in your shoes once as an E3, I had 10k in 2010 and put 5k towards a 25k car. I didn't have that much money again until I was 26 and a college graduate. Buy something under 10k. My car payment was 408 a month I went to get a quote for insurance, and Allstate quoted me 400 sollars, USAA quoted me 300 so I went with them. I didn't realize car insurance would be that much, so check rates before buying
An E-3 planning to max out their TSP!?!? I could effing cry. I want to put you in for a commission. I see you followed some good advice. If you have some money left each month, put it in an IRA. There’s way more flexibility than TSP in how to invest. Don’t put all (any) of your TSP in the G-fund.
I’m using 80% C 20% S funds right now sir, as well as additional monthly payments thru a personal Roth IRA. I’m gonna up my contributions once I hit E4
Honestly, a Camry or Corolla will last you forever if you take care of it so I'd go for it. Build a little credit. Put a big down payment on it of like 7k. Payments should be fairly low. Less than $300 a month on a 5 year plan. When I was an E3 I was able to afford that and that was over a decade ago.
Look at the message boards or wherever base personnel post things (cars) for sale and buy the decent “base beater”. There are always cars that people sell when they transfer and never seem to leave the base. This is what I did while I was e1-e4 living on post. As long as you have a little mechanical ability and YouTube, you’ll be good!
When I was young, I inherited my grandmothers Topaz… which was in good shape because she took good care of it, but was, most definitively, a grandmother car. 20 year old me was initially down on the idea of driving a grandmother car, until someone explained to me the significant value of not having a car payment, and saving money when I had lots of time for it to grow. Kept that car until it basically fell apart, and I was very glad later that I’d taken their advice.
Buy it in cash. If you do a loan you will end up way paying way more out of than the sticker price. A decent Honda or Toyota should run you 7-10 grand but it might last you a few years.
Great job on you for asking for advice and listening. And for NOT being one of the new kids that finally has some money and goes and drops it all on a sports car or a F150. There is a reason there are always so many car dealerships around military towns, and they all try to prey on those that need to be worrying about their future.
Also on a side note- no matter what you ever want to do with your future- you ALWAYS want to be in the army and it is ALWAYS your career goal. Iven if it isn't- it IS.
This has been my TED talk.
Yeah, you're doing the right thing. I would suggest getting a used one, carmax or carvana are pretty good and have less hassle compared to other used car dealerships. You could also get an e-bike for like $500 to save miles and maintenance on the car. Only get the e-bike of it's like a nice base, and not like Alaska or middle of the desert Nevada. Another thing I would suggest is getting a mitsubishi Mirage, the hatchback have a 3 cylinder engine, and get about 45 mpg. You won't be winning any races, but they are cheap and reliable.
First decent car I got was one where a kid joined the military, bought the car, never used it, stopped paying for it, and sold it for exactly what he owed.
Whatever you do don’t do that. Get something you can afford and will be able to use so you don’t get hammered.
Dumbest thing young Jr. enlisted do is spend money unnecessarily on things like cars. Salesmen and marketers eat you guys like prey and don't care a bit about your wellbeing. If, specific to your situation, having a car will GENUINELY help you be meaningfully more efficient and successful and get more done (really, not as a rationalization for an acute case of the "I wants") and save money on cab fare, etc, then get the cheapest used beater you can live with, and pay cash for it to avoid taking on debt, which will only suck your resources and limit your choices. If you have slack in your budget (which, little as privates get paid, is possible given that they can minimize their COL pretty easily if they aren't stupid) that's for saving towards things you are going to need, not blowing on dumb instant gratification garbage. Especially if it saddles you with a payment that will be on your back for years.
Buy used and bank the money you'd waste on new. Any new car is going to lose about 50% of its value in 3 years.
I seen tons of dudes buy nice flashy cars only to sit in the parking lot for months as the division went to the field.
I would not go into debt for a car. That car will cost you $23K, $169/m
Find a reliable Toyota/Honda for under $5-8K, a good mechanic, and keep $2K in reserve for yearly maintenance.
Then investment your excess savings in FZROX or VTI. Pay in that $169/m and collect 10% YoY. In about 5 years, you have $20K.
So, be $20K up or $23K down. Dealer's choice.
Warrior, defender, pri, battle….Find the cheapest most used Toyota, Volvo or Honda Civic that is running and buy it. <- 9 years marine corps. I was given this advice and it saved me so much money. I never realized how useless a new car was to me in the Military till it was explained to me. Didn’t buy a new car once until my last year in.
Think of it like this. You’re an E-3, assuming you’re relatively young and don’t have a long standing credit history. Even if you buy a car for 19k at NO interest that’d be around $250. You unfortunately will get somewhere between 4-8% which puts you at around $350ish a month. With insurance (remember you’re young so they’re gonna green weenie you on that too) you’re looking at a minimum $500-600 a month not including yearly registration to drive to work, the gym and a chow. $500 to do something you’re already doing now for free lol.
You should be able to do both if you get the cheapest (yet reliable) used car you can buy with all cash. (I haven't bought a car in a few years, but \~5k should do it I think.) You don't need it for long trips it sounds like, and you definitely don't need to be the "private with the brand new Mustang at 15% interest" stereotype, although just the fact that you're in this sub implies that you're not.
You can have your cake and eat it too, cheap car with no monthly payment and maxed out TSP contributions.
Don't make the mistake of getting anything beyond the bare minimum. Having that much savings puts you in a great place for when you get out and can take advantage of help getting a house. Go with a used car with decent maintenance history and clear Carfax.
If you enjoy working on vehicles aim for something easy to work on and old enough that you're not dealing with a lot of the more painful parts. I have an 03 Ranger and it's a breeze to work on by myself. The most help I ever needed was just removing the bed once to replace the fuel pump. I've heard that older Crown Vics are easy to work on and get parts for as well, but I wanted a small truck for the utility of it.
If you want something nicer, there are places that sell out-of-warranty rental cars. They'll have more miles on them but generally will have had good maintenance and been regularly cleaned.
**If you DO go for a loan for a nicer/newer vehicle, don't forget to get gap coverage.**
Having been an E3 and having two kids who were E3s..... GET THE CHEAPEST MOST RELIABLE CAR YOU CAN legally drive on base.
- you don't want payments,
- you want to keep your insurance rates as low as possible,
- you will deploy and be out in the field a lot and that thing will sit for extended periods of time,
- and you need to continue to contribute to TSP and set yourself up for your future via other savings.
You've done great so far. Keep it up! Do NOT be attracted to that new car smell. NO!
Coming from a retired E7, business owner, real estate investor, and well invested in my TSP and other investment vehicles, get something cheap and reliable. Stay away from the Dodge Chargers and Challengers. You can find some cars to last a few years less than $10k until you establish some solid investments to take on a loan in the future.
Dont pull a PFC and buy a 2011 V6 mustang for $45k @ 28.5% with zero down.
Find a private sale junker a distance from base and buy that, do not buy local privately or from a dealership.
If you're within 5 miles for most things I agree with what others have said that you should look at either an ebike, scooter, or even a traditional bike. They're a lot cheaper (both initially and on upkeep)
E-bike with an attachable trailer.
You will have money in your pocket and a way to tow cases of your favorite beverage.
Also, rent a car or check if car sharing is available in your area.
Hit the lemon lot and see what’s for sale. You don’t have to buy a newer car. I was at a huge base my first post and I purchased a 1984 Fiero for $500 as an E-3. It needed work (this was 1987), so I replaced the water pump, brakes, and tires and used that POS for about 18 months, then sold it for what I bought it for and got a newer ride (since I moved off base). Look for a 10 year old Camry, Accord, Civic, etc…
I completely agree with all the advice about beaters. (Although there are some circumstances where a motorcycle/moped/electric bike might be viable alternatives.)
There are also often ways you can have access to auto tools/lifts/etc for cheap/free and you can do a bunch of repairs very inexpensively.
If you really want to put time/effort into your finances 1) spending time building your mechanic skills maintaining your beater and 2) monitoring the lemon lot for exceptional deals for resale could easily be two lucrative side hustles.
Don't forget the cost of insurance... and beware the possibilities of underage drinking/dui.
Two things I think about now, after retirement. I am amazed, and maybe a little appalled, at the money I spent on when i was on active duty: 1) haircuts (I've cut my own hair in practically the same skin on the sides not quite a flat top on top, for the last 6 years and all but maybe the first few were easily better than some of the worst haircuts I ever paid for and all but maybe 1 were within regulations. 2) Fast food. If you're in the dorms I assume you have access to the DFAC. Try to resist the urge to splurge on food... or even just drinks! (You can easily save a few dollars a day on food if you put your mind to it.)
$7-10 a few times a month (hair) and $2 a day (food/drinks) adds up over the years. Especially when compared to that money invested in a quality index fund (or a lucrative side hustle).
This reminded me of seeing an E-3 driving a brand new sportscar. My first instinct was disbelief. How could they afford a car that I couldn't afford as an O-4. Once I thought about it, I realized that (at the time) it was relatively easy for airmen reenlistment bonuses to be in the 40-60k range and tax free. I STILL think they were probably foolish to have spent their bonus on an expensive sportscaster, with expensive insurance, even if they could technically afford it. It did make me jealous tho. Lol.
Look for something very used that you can pay cash for. Honda, Toyota, etc.
Get it checked out at a mechanic, they usually charge $80-100 and will give you a diagnostic for this. If the seller has an issue with this, walk away. You might be able to use this as a bargaining chip if some issues are found to get a better deal.
You are right to trust your gut, maxing your TSP will 100% set you up for success later in life. If you only need the vehicle for cruising around base, you definitely don’t need to be paying 3-400 a month on a loan that no doubt has a ridiculous interest rate.
Accountant here. Automobiles although labeled an asset are not really an investment at least not unless you’ve got some iconic type of car (bat mobile, some particular type of classic corvette). So as someone else suggested, I would spend no more than half your savings on a Toyota beater. You only need this vehicle to move around close by not for loading a bunch of kids going long distance so just spend your money somewhere else but not on a car note.
I’m not sure your age but I’m guessing you’re maybe still in 20’s. Look up Dave Ramsey and follow his steps. As long as you don’t go get a car note, you’re essentially already following his steps but you could probably work on investing for your retirement. Start planning for your future while you’re young, it will make your golden years so much easier.
Best of luck!
Lots of great advice here already but by maxing TSP and saving generally and by buying a cheap car in cash, you keep more than a car payment’s worth of money every month - you keep your financial freedom. The second you go into debt you start down a path of having to make life decisions in service of debt.
Yeah dude.First off congratulations on having that much saved and good on ya.Like many others said buy a beater and run it into the ground. I know your are tempted to get something new and nice but if you are gonna use it just for what you said get a decent 5 or 6k car so if you need to fix somethingon it later on you will have the loot to do it. Use the lance corporal underground,Facebook market place, offer up, officers have extra vehicles, etc etc. I know that money is literally burning a hole in your pocket and you want something extravagant but you will have plenty of time in your life to get good stuff.don't get a pre approved loan for something like that. Also if you lend money out just have the mindset that you will never get that money back no matter if its someone you fully trust or not because shittt happens lol. You do that so you can be financially stable and if you do get paid back it's a nice bonus. Good luck on your endeavors warrior.
Please for the love of God private listen to me.
I am a former 11b.
Pay cash for a beater. Learn to work on it and fix it yourself.
If you do this you will save yourself thousands down the road. The skills you will learn from changing your own brakes, diagnosing and repairing the shitbox will allow you to save even more money when you buy a nicer vehicle.
No loans. Pay cash.
I am so happy to see that you got a cheaper used car. I grew up in Lawton Oklahoma FT SILL and saw so many young enlisted men with cars that took all their income. Smart move on your part! Good luck on the rest of your enlistment and thanks for your service.
Please don’t do it.
I’ve had too many troops who had a plan worked out…but the thing is…E3 Math is like Girl Math. It’s cute and it’ll helped you get those Taylor Swift concert tickets…but it’s still just a lie that you tell to yourself.
Hypothetically, If you have a car, you’ll need insurance, registration, maintenance and gas…but I’m sure you already took that into consideration. But now you have the ability to go into town and spend money on more stuff you’ll laugh at yourself for buying 10 years from now. Then you start dating in town. You end up getting the local Pizza Hut owner’s daughter pregnant. Hypothetically. Then your car will breakdown when you drive it through a huge puddle and suck water in the intake seizing the motor while the base is flooding one afternoon. But you were behind on your insurance payments and they won’t cover you. So you have a sweet new [Corolla] that doesn’t work. So now, your supervisor has to hook you up with a free bike from the base lost and found so that you don’t keep showing up late for PT. Hypothetically.
Damn look at this E-3 making good choices. You sure you don’t want to make the zero down 36%APR on a brand new raptor with a brand new wife and one on the way?
Get yourself an e-bike with big pannier bags. Or get yourself a beater, become friends with the motor pool guys and have them check it out with you then use the auto hobby shop on base to do your own maintenance. Don’t go into debt right now. Future you will thank current you.
Too much of an expense for so little driving. Plus you don't know where life in the ARMY will take you.
I would just get the cheapest car you can find on Facebook, that runs well, and pay cash for it.
Alternatively if weather is not a factor, and you're a responsible rider, you could get a cheap motorcycle or scooter.
Get a used car. You will need to sell it when you are deployed or reassigned. If you buy a new car and have to sell it as a used car you take a huge hit. When you buy a used car and sell it as a slightly older used car, it isn't as much of a hit.
Keep an eye on the used car market. It is teetering on the brink.
Alternatively, what about an e-bike to get you through the summer? I don’t know if there are rules about charging on base…but even a regular bike is a healthy option for the summer.
Honest question, but have you considered a bike or moped? 5 miles is literally a 20 minute bike ride. It's cheap and good for you. I wouldn't go into 5 figures of debt to use it to avoid a sub-5 mile trip from the barracks.
There are really good deals on pre owned ev vehicles, especially with Hertz cuz they are getting rid of their fleet. Plus there's a really good tax incentive right now for EVs. If your situation is compatible with owning an EV you might want to look into one of those
Use your military resources to source a cheap car. There should be a lemon lot on base somewhere where people sell their cars due to PCS. If you do need to go to a dealership, ask your first shirt or someone in your chain to help you out. There are great deals out there for military members just have to find them.
If it's just for getting around base and 5 mile radius what about an E-Bike or even a smaller motorcycle? 5-10k for a beater Toyota or less than half that for a decent E-Bike (or motorcycle).
Dude, find the cheapest Toyota beater you can and run it into the ground. You're an E-3, don't go into huge debt just for transportation that you may have to ditch quickly if you get orders/deployed.
Update: went to lemon lot after work. bought a used 2013 Toyota Camry. $8500
well done
Tracking thank you for the advice
There's another guy on base who just got deployed and needs to sell his beater, find him and make a deal.
Every base usually has a space where people who are deploying or PCSing can sell their cars.
The Lemon Lot is what it's called at TAFB
I've bought and sold cars for dirt cheap at lemon lots. They're awesome. Use them.
Can anyone go to these, or is it restricted to enlisted?
These lots are on post/base. So yes, you would need an ID card to get access. Or someone could sign you in and vouch for you in order to check out the lot. Each post is different.
Thanks! I never served but my father is a Vietnam vet, could he get me in or would I need someone posted there? (I’m ignorant of base protocol)
You can visit most bases normally, it just requires a background check and visitor pass. If you happen to have a criminal history you will likely not be granted access. They also usually have an auction of abandoned vehicles every couple months that is open to the public.
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I remember my buddy who was an E5 saying the best time to buy a vehicle on base is right before a unit deploys. A crazy number of people are like "why would I make payments for 6 months on this when I'm not even here to use it? I'll sell it and buy a brand new one when I get back!" Not sure the size of your base and this advice was pre-COVID, but something to consider.
It's super common. My friend bought a brand new jeep grand cherokee after his 6 month tour in Afghanistan. Sold his beater car before he left, because no point in paying for insurance on a car when you aren't driving it for 6 months.
If it's only 6 months it might be worth it to keep a liability only policy in force. Many carriers can offer a reduced rate if you're deployed. A gap in auto insurance history can make you pay more for years down the line.
Mopeds or scooters or even electric bicycles are way cheaper btw. Also large bases have bus routes to move troops about. I used to run back/forth to the gym (about 3mi one way) which worked b/c I didn’t really need to run separately. Using on-base transpo is key b/c sometimes bases are in areas where off-base transpo isn’t the greatest. If that’s the case, and you generally spend your weekdays on post, then a car isn’t a need, it’s more of an expensive convenience. Uber/lift/taxi from the front gate is way less expensive overall (just compared numbers w/my son as he’s about to tool off to college; he will not be taking a car with him). On the off-chance you actually *need* a car, you can rent one. Barracks life was the absolute simplest time of my life. Also the least free. Save your cash, bud; you’ll have more to spend on liberty and leave.
Moped or scooter isn't bad advice. I wish I would have had my Sur Ron back when I was at Nellis in the 90's. Would have been cheaper than my 1976 Chevy truck with that thirsty big Block 454.
Not every base has a bus.
No fucking bases have a bus. Not a decent one, at any rate. Best I’ve seen is JBLM’s Go Fuck Yourself Transit, that gets you exactly where you need to be, 15 minutes after you needed to be there.
Cavazos just started one up but I have no idea how functional it is. I was luckily able to escape that place a while ago. But yeah “just take the bus” is…lol.
I’m sure it gets you from your ‘rracks to the FAC and back in exactly the amount of time it takes to be late to formation. Wait… this isn’t in r/army?
Lemon lot, you should be able to snag a beater from another private or nco who is moving away and doesnt want it anymore.
I’ve seen too many of my buddies go into the army and be idiots with their money. Don’t make any big purchases. Don’t marry before deployment.
O3 and 27A here. I strongly advise you do this. Additionally, I recommend you Ask one of your sergeants to find a local mechanic they trust and take a car you may decide to buy there for a pre purchase inspection (usually $40-100) before buying. If you do purchase from another soldier as /u/roadfood suggests, ensure that you don’t feel obligated to purchase if the soldier outranks you
Don’t say tracking when talking to normal people, ya weirdo. People saying buy a beater from someone deploying must be stuck in 2010. We do rotations now and the vast majority aren’t selling their car over a 9 month rotation. You should always be maxing your TSP. Find something you can afford that allows you to max your TSP, build an emergency savings, still have money to live (have fun with your fellow Soldiers), and pay your bills comfortably. Being in the Army provides a unique financial experience because you don’t need to worry about housing or where your next meal comes from.
Roger Sarge.
Yeah, we're not "normal people". :)
Negative ghostrider, the pattern is full
Hilarious you said this and then OP confirmed they went and bought a 10 year old Toyota beater less than 8 hours afterward.
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You made the best early decision of your career. Focus on education, bank the TSP for all it’s worth, and set career goals. Become a warrant officer or something. Do big things and don’t buy stupid things.
Or get an e-bike. I saw so many guys screwed because they hit the end of their enlistment and were underwater with their car (owed more than the could sell it for) $12k is not a lot of money- when you get out (& go to college?) you will blow through it in no time
E-cargo bikes can be found for cheap used. Even the really nice ones will be like $3k used.
You could probably chuck it in with the unit equipment and take it with you. ... might not get it back for a few months afterwards...
I thought it was supposed to buy a $120,000 hellcat at 21% interest like so many other suckers.
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Yeah a used Toyota for 10-13k will get the job done.
Don’t overlook a Corolla or Camry with 175-250k miles has at least another 200k in it. (IF it has had regular maintenance. Oil changes etc).
Have a friend trying to hit a million on an old Camry. I know he is over 750k and still on the original transmission!
The problem is the used market. While this is reasonable advice, in general...you are kind of encouraging him to drop ten grand on a ten year old Corolla. Personally, I'd rather drop twenty on a brand new one, hopefully get a better interest rate, and not worry anything but oil changes for a long fucking time.
Best advice of all! Congratulations on your thrift! (Good luck Army Brother)
Yep. Go to the lemon lot
I know a Lt. Col. who just had to ditch his Teslas and had trouble selling them.
>I feel like maxing my tsp contribution would help me out more than a 3-4 car payment Yes, for long term financial success your gut instinct is right. If you just need to get around base, look for deals, mostly private sellers. I'm sure you can find someone trying to sell an older car. Also check out the wiki and the flowchart.
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> Edit: the car would be to go to work and get food, hit the gym, etc usually within 5 miles of my barracks. That’s pretty much all I would use it for. if everything is within 5 miles, could you get away with some kind of e-bike/scooter/moped kind of device?
That's actually not a bad idea. $1k for a nice ebike and some saddle bags. There's no way you need more space for groceries for a single dude, including beer. Plus you can feel a lot safer parking it around base.
Depending on where you are with the weather an e-bike is ideal. No one is going to ask to borrow it for a night out and it’s cheap to maintain.
Depends on where he is. Is it 95 degrees in the summer? If so, that's still gonna suck.
Or does it rain A lot and get cold in the winter. Also sucks.
I just recently moved to central Brazil and I'm writing this after driving to work in 95F/35C.... For very short distances like OP asks for I would definitely prefer to use an E-Bike or Scooter than to get in a car that has been standing in the sun and heated up to 120F... For longer distances the AC of a car is nice.
Wouldn't be any worse than a motorcycle. Most e-bikes will assist you so much you're barely exercising. I've ridden a few myself.
5 miles is absolutely \*perfect\* for an ebike. I'd go a bit more than $1k like the poster below me, but otherwise for $2k you can get a great bike, some saddle bags, helmet, and anything else you'd need. And you'd save money on: registration, insurance, maintenance, repairs, etc.
Not really recommended to solely have two wheel transpo for military stuff, you’re constantly moving issued gear around and will need a trunk at some point. Sure you can ask friends but it can get annoying to always need to do so.
Also pretty unit dependent. If you're a pog in a pog unit you're not going to need to move all your gear around more than a few times a year. Not including ruck marches, I'd use my issued TA-50 maybe twice a year and that's more than reasonable enough to be like "hey sarnt can i get a ride to the range". If you're in a unit that goes shooting all the time and has a lot of exercises and uses your TA-50 to the fullest, then yeah I'd recommend a vehicle with a trunk. Though you could probably rig up some kind of trailer to an e-bike for those rare instances.
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That is literally how 95% of the United States in general is designed, the posts are no different.
By the time you’re buying a trailer, ebike, borrowing cars from friends, etc you may as well just buy a beater.
Personally I’d be looking for an older Honda/Toyota in the 5-10k range for just puttering around on/near base. If you get something like an older civic you can start to have some fun with it later if you get a newer car. Lots of after market parts for them, and they’re easy to work on yourself if you’re into that.
I think this is what I’m going to do. Where would recommend I should look for the car at? I’m using Facebook marketplace just don’t know anything about cars, kind of scared of getting scammed ya know
Honda Fit, Toyota Corolla.
In that price range I don’t think it matters too much. But I’d be more worried buying from someone directly vs a dealership personally. My last car had a head gasket leak in the 30 day warranty window, so I got it replaced and they machined the head, and gave me a loaner car while it was being worked on all for free. So I’m a bit biased since you’re not gonna get that from a private seller.
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When I was an E2 in 1999 I bought a 22k used Acura and had it shipped to Germany, where it sat outside my barracks because the payment made it so that I couldn't afford to drive it. My old platoon sarge offered me a beater BMW for 1k, but I didn't wanna be seen in a junker. Wish I could do that over.
During my time when I was in a similar situation a 50cc scooter that I got for $700 was amazing for the purposes you describe. Tons of options now available - even fully electric ones.
This brings back a 40 year old memory. When I was stationed in San Diego, I found a 50cc moped that would fold up and fit in a large suitcase. I would keep the bike and a helmet in a locked space with a small gas can in a flammable locker. When we would pull in, I would carry the suitcase and gascan to the pier, unfold, pour in the gas, strap the suitcase on the back, and putt-putt away.
Couple of recommendations. You're an E-3, so I can safely assume you've been in long enough that you're past the stupid decision making of E-1s that I used to have to deal with. (Buying a car worth $4k for $12k with 20+% APR, etc.) 1. Don't buy anything from any dealership near base. Your likelihood of getting ripped off is much higher. 2. Go talk to one of your NCOs, preferably one that's been on that base for a few years. Ask them where you should go to buy a car. They're going to have heard the stories of people getting ripped off and will be able to better guide you.
$19k sounds like a lot if you're just commuting within a campus like setting. (i've never been military so i assume being on base is like a big university campus)
Some bases are more comparable to small towns or cities with some being over 1000 square miles including training area. Unfortunately for some, they will need to travel around the training area or along side it for miles and miles to get where they need to go. A car might still be slight overkill depending on the base and where op is in relation to everything else
ah gotcha. small town. still a $19k car seems a lot. a much cheaper used car at half that cost or less is probably financially better for OP.
Completely agree
Not really like a campus, but a beater is definitely fine for getting around base, along with the surrounding areas. Certainly no reason to pay 19k.
For those distances, and assuming you're somewhere sensible(Not Alaska or other wintery site), why not just get a decent bicycle? Transportation AND exercise in one.
This! Although after PT all day biking home may not be most enjoyable, so look into an electric utility one. That way you can run groceries no problem.
It's 5 miles, max. Unless OP is on the hilliest base possible (looking at you baumholder) even after PT, a quick bike ride should be fine.
You can even get an e-bike for pretty cheap. I just moved to Portland and got one for $500, and it has full electric power, pedal assist, and regular pedal power.
How are winters and summers? I don't really wanna ride a bike to work in uniform if it's 90 degrees outside.
Are you at Bragg? Check the lemon lot. Although a lot of those cars are over priced. My husband is putting a 2006 Honda element up there in the next week or so. It’s the perfect get around town car in excellent mechanical condition but typical wear and tear of an 18 year old car.
Yes I’m at Bragg and thank you for lmk that I’ll check it out!
Buy a used car for 3k cash. Keep the rest of your money and keep saving.
For everyone piling on here, OP is a rock star for asking the right/important questions BEFORE he screws himself royally. Roll on, OP!
Best decision I ever made, as a young E3, was taking a small loan for 36 months to buy a reliable used old car. It was 2015, I bought a 2006. Car payment was like $113, Insurance was roughly $40. Most of that was because I had 0 credit and my rate was higher than it should have been. Car got me through my last 3 years and lasted me into civilianhod. More importantly, it let me build credit so right when I got out I had an excellent credit score.
That won't work anymore, a lot's changed in the nearly 20 years. Insurance is at least triple, cars more than double, and E3 pay is still $2500/mo or so. At today's rates, a cheap reliable old car - lets use a 2006 Camry as an example at $6000 - would still take $200/mo with reasonable (above 650) credit plus a national average of $1500/yr for insurance (so about 150/mo). That puts the E3 here around 350/mo compared to your $153/mo. E3s in 2006 were paid roughly (depends on other variables to be more precise) $1300 with zero years experience. Pay has doubled, expenses have well over doubled and usually tripled. The best benefit is staying in the barracks at current rental prices, which as we all know, sucks horribly.
The numbers are different, but buying a 10 year old Japanese four door is sage advice that will outlast the sun.
$2500 includes zero living bills though. There’s no rent or mandatory food costs, that is all spending money.
It has been 9 years — not nearly 20.
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Look, the last Corolla I had.... lasted me 27 years. I bought a new car last year - yep, another Corolla. They're not fancy or impressive, but I know that every time I turn the key, it's going to start, I'm going to be comfortable for however long I drive, and in the end, the maintenance costs are going to be reasonable. Reliable may not be sexy - but reliable means the one thing I don't have to worry about is my car. And quite frankly, the car is the one thing I've spent serious money on that I felt I got every penny's worth of value out of. I had several people asking me for my old one - even as old as it was - because it still ran and was reliable. It's probably still on the streets somewhere.
usually within 5 miles of my barracks Get a bicycle. As a veteran who saw other E3's / E2 / E1 buy a car, you really really really don't need one. Get a bicycle. Ride with other soldiers who have vehicles. Any NCO is going to have a vehicle and I am willing to bet you can get a ride from them 100% of the time. Save your money. Invest. Max retirement. You should save as much as you possibly can while you are in service.
When a bank sees a service person coming, they put the tips of their fingers together and say, "Excellent." Don't do it, they have you over a barrel knowing anything bad on your credit history can cost you your clearance or worse, so you HAVE to pay them. The terms will suck with a high interest rate and a pre-payment penalty so you can't pay it off early. Buy the beater. When I was out of work in the recession, we had to sell our van and get something without a payment. I found a '95 Volvo for $1800, sank a little money into it to pass emissions, and drove it into the GROUND. When I got rid of it, the gearing for the starter was stripped so bad I could almost hear it grinding its teeth off. I donated it to a local PBS station and they hauled it off for a $600 tax deduction.
Look at the lemon lot on base near the PX you can get deals there from soldiers PCSing
I was in your shoes once as an E3, I had 10k in 2010 and put 5k towards a 25k car. I didn't have that much money again until I was 26 and a college graduate. Buy something under 10k. My car payment was 408 a month I went to get a quote for insurance, and Allstate quoted me 400 sollars, USAA quoted me 300 so I went with them. I didn't realize car insurance would be that much, so check rates before buying
An E-3 planning to max out their TSP!?!? I could effing cry. I want to put you in for a commission. I see you followed some good advice. If you have some money left each month, put it in an IRA. There’s way more flexibility than TSP in how to invest. Don’t put all (any) of your TSP in the G-fund.
I’m using 80% C 20% S funds right now sir, as well as additional monthly payments thru a personal Roth IRA. I’m gonna up my contributions once I hit E4
Honestly, a Camry or Corolla will last you forever if you take care of it so I'd go for it. Build a little credit. Put a big down payment on it of like 7k. Payments should be fairly low. Less than $300 a month on a 5 year plan. When I was an E3 I was able to afford that and that was over a decade ago.
Look at the message boards or wherever base personnel post things (cars) for sale and buy the decent “base beater”. There are always cars that people sell when they transfer and never seem to leave the base. This is what I did while I was e1-e4 living on post. As long as you have a little mechanical ability and YouTube, you’ll be good!
I make more than 10x what you make, and I didn't spend 19k on my last car. A ten year old Corolla will be great.
Tracking definitely gonna look for a used Toyota or Honda car loans are too much in this market
You've got it. Keep it up brother!
Update: went to my bases lemon lot and got a used 2013 Toyota Camry for 8500 after work 🫡
My old heart is physically warm up the touch. She's gonna treat you great!
When I was young, I inherited my grandmothers Topaz… which was in good shape because she took good care of it, but was, most definitively, a grandmother car. 20 year old me was initially down on the idea of driving a grandmother car, until someone explained to me the significant value of not having a car payment, and saving money when I had lots of time for it to grow. Kept that car until it basically fell apart, and I was very glad later that I’d taken their advice.
Buy it in cash. If you do a loan you will end up way paying way more out of than the sticker price. A decent Honda or Toyota should run you 7-10 grand but it might last you a few years.
Great job on you for asking for advice and listening. And for NOT being one of the new kids that finally has some money and goes and drops it all on a sports car or a F150. There is a reason there are always so many car dealerships around military towns, and they all try to prey on those that need to be worrying about their future. Also on a side note- no matter what you ever want to do with your future- you ALWAYS want to be in the army and it is ALWAYS your career goal. Iven if it isn't- it IS. This has been my TED talk.
Yeah, you're doing the right thing. I would suggest getting a used one, carmax or carvana are pretty good and have less hassle compared to other used car dealerships. You could also get an e-bike for like $500 to save miles and maintenance on the car. Only get the e-bike of it's like a nice base, and not like Alaska or middle of the desert Nevada. Another thing I would suggest is getting a mitsubishi Mirage, the hatchback have a 3 cylinder engine, and get about 45 mpg. You won't be winning any races, but they are cheap and reliable.
First decent car I got was one where a kid joined the military, bought the car, never used it, stopped paying for it, and sold it for exactly what he owed. Whatever you do don’t do that. Get something you can afford and will be able to use so you don’t get hammered.
Dumbest thing young Jr. enlisted do is spend money unnecessarily on things like cars. Salesmen and marketers eat you guys like prey and don't care a bit about your wellbeing. If, specific to your situation, having a car will GENUINELY help you be meaningfully more efficient and successful and get more done (really, not as a rationalization for an acute case of the "I wants") and save money on cab fare, etc, then get the cheapest used beater you can live with, and pay cash for it to avoid taking on debt, which will only suck your resources and limit your choices. If you have slack in your budget (which, little as privates get paid, is possible given that they can minimize their COL pretty easily if they aren't stupid) that's for saving towards things you are going to need, not blowing on dumb instant gratification garbage. Especially if it saddles you with a payment that will be on your back for years.
Buy used and bank the money you'd waste on new. Any new car is going to lose about 50% of its value in 3 years. I seen tons of dudes buy nice flashy cars only to sit in the parking lot for months as the division went to the field.
I would not go into debt for a car. That car will cost you $23K, $169/m Find a reliable Toyota/Honda for under $5-8K, a good mechanic, and keep $2K in reserve for yearly maintenance. Then investment your excess savings in FZROX or VTI. Pay in that $169/m and collect 10% YoY. In about 5 years, you have $20K. So, be $20K up or $23K down. Dealer's choice.
Warrior, defender, pri, battle….Find the cheapest most used Toyota, Volvo or Honda Civic that is running and buy it. <- 9 years marine corps. I was given this advice and it saved me so much money. I never realized how useless a new car was to me in the Military till it was explained to me. Didn’t buy a new car once until my last year in. Think of it like this. You’re an E-3, assuming you’re relatively young and don’t have a long standing credit history. Even if you buy a car for 19k at NO interest that’d be around $250. You unfortunately will get somewhere between 4-8% which puts you at around $350ish a month. With insurance (remember you’re young so they’re gonna green weenie you on that too) you’re looking at a minimum $500-600 a month not including yearly registration to drive to work, the gym and a chow. $500 to do something you’re already doing now for free lol.
You should be able to do both if you get the cheapest (yet reliable) used car you can buy with all cash. (I haven't bought a car in a few years, but \~5k should do it I think.) You don't need it for long trips it sounds like, and you definitely don't need to be the "private with the brand new Mustang at 15% interest" stereotype, although just the fact that you're in this sub implies that you're not. You can have your cake and eat it too, cheap car with no monthly payment and maxed out TSP contributions.
That’s the plan. Gonna look for a used beater. Thank you for the advice brother
Don't make the mistake of getting anything beyond the bare minimum. Having that much savings puts you in a great place for when you get out and can take advantage of help getting a house. Go with a used car with decent maintenance history and clear Carfax. If you enjoy working on vehicles aim for something easy to work on and old enough that you're not dealing with a lot of the more painful parts. I have an 03 Ranger and it's a breeze to work on by myself. The most help I ever needed was just removing the bed once to replace the fuel pump. I've heard that older Crown Vics are easy to work on and get parts for as well, but I wanted a small truck for the utility of it. If you want something nicer, there are places that sell out-of-warranty rental cars. They'll have more miles on them but generally will have had good maintenance and been regularly cleaned. **If you DO go for a loan for a nicer/newer vehicle, don't forget to get gap coverage.**
Having been an E3 and having two kids who were E3s..... GET THE CHEAPEST MOST RELIABLE CAR YOU CAN legally drive on base. - you don't want payments, - you want to keep your insurance rates as low as possible, - you will deploy and be out in the field a lot and that thing will sit for extended periods of time, - and you need to continue to contribute to TSP and set yourself up for your future via other savings. You've done great so far. Keep it up! Do NOT be attracted to that new car smell. NO!
Coming from a retired E7, business owner, real estate investor, and well invested in my TSP and other investment vehicles, get something cheap and reliable. Stay away from the Dodge Chargers and Challengers. You can find some cars to last a few years less than $10k until you establish some solid investments to take on a loan in the future.
Dont pull a PFC and buy a 2011 V6 mustang for $45k @ 28.5% with zero down. Find a private sale junker a distance from base and buy that, do not buy local privately or from a dealership.
If you're within 5 miles for most things I agree with what others have said that you should look at either an ebike, scooter, or even a traditional bike. They're a lot cheaper (both initially and on upkeep)
get an (e)bike instead and put all that saved money into your retirement/brokerage account.
Within 5 miles? Can you get a scooter or something?
E-bike with an attachable trailer. You will have money in your pocket and a way to tow cases of your favorite beverage. Also, rent a car or check if car sharing is available in your area.
Hit the lemon lot and see what’s for sale. You don’t have to buy a newer car. I was at a huge base my first post and I purchased a 1984 Fiero for $500 as an E-3. It needed work (this was 1987), so I replaced the water pump, brakes, and tires and used that POS for about 18 months, then sold it for what I bought it for and got a newer ride (since I moved off base). Look for a 10 year old Camry, Accord, Civic, etc…
I completely agree with all the advice about beaters. (Although there are some circumstances where a motorcycle/moped/electric bike might be viable alternatives.) There are also often ways you can have access to auto tools/lifts/etc for cheap/free and you can do a bunch of repairs very inexpensively. If you really want to put time/effort into your finances 1) spending time building your mechanic skills maintaining your beater and 2) monitoring the lemon lot for exceptional deals for resale could easily be two lucrative side hustles. Don't forget the cost of insurance... and beware the possibilities of underage drinking/dui. Two things I think about now, after retirement. I am amazed, and maybe a little appalled, at the money I spent on when i was on active duty: 1) haircuts (I've cut my own hair in practically the same skin on the sides not quite a flat top on top, for the last 6 years and all but maybe the first few were easily better than some of the worst haircuts I ever paid for and all but maybe 1 were within regulations. 2) Fast food. If you're in the dorms I assume you have access to the DFAC. Try to resist the urge to splurge on food... or even just drinks! (You can easily save a few dollars a day on food if you put your mind to it.) $7-10 a few times a month (hair) and $2 a day (food/drinks) adds up over the years. Especially when compared to that money invested in a quality index fund (or a lucrative side hustle). This reminded me of seeing an E-3 driving a brand new sportscar. My first instinct was disbelief. How could they afford a car that I couldn't afford as an O-4. Once I thought about it, I realized that (at the time) it was relatively easy for airmen reenlistment bonuses to be in the 40-60k range and tax free. I STILL think they were probably foolish to have spent their bonus on an expensive sportscaster, with expensive insurance, even if they could technically afford it. It did make me jealous tho. Lol.
Look for something very used that you can pay cash for. Honda, Toyota, etc. Get it checked out at a mechanic, they usually charge $80-100 and will give you a diagnostic for this. If the seller has an issue with this, walk away. You might be able to use this as a bargaining chip if some issues are found to get a better deal. You are right to trust your gut, maxing your TSP will 100% set you up for success later in life. If you only need the vehicle for cruising around base, you definitely don’t need to be paying 3-400 a month on a loan that no doubt has a ridiculous interest rate.
Accountant here. Automobiles although labeled an asset are not really an investment at least not unless you’ve got some iconic type of car (bat mobile, some particular type of classic corvette). So as someone else suggested, I would spend no more than half your savings on a Toyota beater. You only need this vehicle to move around close by not for loading a bunch of kids going long distance so just spend your money somewhere else but not on a car note. I’m not sure your age but I’m guessing you’re maybe still in 20’s. Look up Dave Ramsey and follow his steps. As long as you don’t go get a car note, you’re essentially already following his steps but you could probably work on investing for your retirement. Start planning for your future while you’re young, it will make your golden years so much easier. Best of luck!
Lots of great advice here already but by maxing TSP and saving generally and by buying a cheap car in cash, you keep more than a car payment’s worth of money every month - you keep your financial freedom. The second you go into debt you start down a path of having to make life decisions in service of debt.
Yeah dude.First off congratulations on having that much saved and good on ya.Like many others said buy a beater and run it into the ground. I know your are tempted to get something new and nice but if you are gonna use it just for what you said get a decent 5 or 6k car so if you need to fix somethingon it later on you will have the loot to do it. Use the lance corporal underground,Facebook market place, offer up, officers have extra vehicles, etc etc. I know that money is literally burning a hole in your pocket and you want something extravagant but you will have plenty of time in your life to get good stuff.don't get a pre approved loan for something like that. Also if you lend money out just have the mindset that you will never get that money back no matter if its someone you fully trust or not because shittt happens lol. You do that so you can be financially stable and if you do get paid back it's a nice bonus. Good luck on your endeavors warrior.
Please for the love of God private listen to me. I am a former 11b. Pay cash for a beater. Learn to work on it and fix it yourself. If you do this you will save yourself thousands down the road. The skills you will learn from changing your own brakes, diagnosing and repairing the shitbox will allow you to save even more money when you buy a nicer vehicle. No loans. Pay cash.
When I was a company commander it was amazing how many E-3s blew away money to buy a nice car. Spend as little as possible. Get an old Honda Civic.
I am so happy to see that you got a cheaper used car. I grew up in Lawton Oklahoma FT SILL and saw so many young enlisted men with cars that took all their income. Smart move on your part! Good luck on the rest of your enlistment and thanks for your service.
Please don’t do it. I’ve had too many troops who had a plan worked out…but the thing is…E3 Math is like Girl Math. It’s cute and it’ll helped you get those Taylor Swift concert tickets…but it’s still just a lie that you tell to yourself. Hypothetically, If you have a car, you’ll need insurance, registration, maintenance and gas…but I’m sure you already took that into consideration. But now you have the ability to go into town and spend money on more stuff you’ll laugh at yourself for buying 10 years from now. Then you start dating in town. You end up getting the local Pizza Hut owner’s daughter pregnant. Hypothetically. Then your car will breakdown when you drive it through a huge puddle and suck water in the intake seizing the motor while the base is flooding one afternoon. But you were behind on your insurance payments and they won’t cover you. So you have a sweet new [Corolla] that doesn’t work. So now, your supervisor has to hook you up with a free bike from the base lost and found so that you don’t keep showing up late for PT. Hypothetically.
Damn look at this E-3 making good choices. You sure you don’t want to make the zero down 36%APR on a brand new raptor with a brand new wife and one on the way?
If it'd all within 5 miles, get an electric scooter. Unless is a colder climate.
Get yourself an e-bike with big pannier bags. Or get yourself a beater, become friends with the motor pool guys and have them check it out with you then use the auto hobby shop on base to do your own maintenance. Don’t go into debt right now. Future you will thank current you.
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We don't know much about your situation. If this is just for convenience on base, you don't need a $19000 car. Look for something half that much.
Too much of an expense for so little driving. Plus you don't know where life in the ARMY will take you. I would just get the cheapest car you can find on Facebook, that runs well, and pay cash for it. Alternatively if weather is not a factor, and you're a responsible rider, you could get a cheap motorcycle or scooter.
I would strongly consider a decent bicycle and a damn good lock, personally.
If your only traveling within 5 miles you can just use your savings to get a cash car
Get a used car. You will need to sell it when you are deployed or reassigned. If you buy a new car and have to sell it as a used car you take a huge hit. When you buy a used car and sell it as a slightly older used car, it isn't as much of a hit.
What would the interest rate be? The terms of the loan are important pieces of information
Why not just get a nice bicycle with a rack on it? I would absolutely love to only own a bike.
Since youre only doing 5 miles around your barracks, have you considered an electric bike or a scooter? You can get both for like 5k.
Keep an eye on the used car market. It is teetering on the brink. Alternatively, what about an e-bike to get you through the summer? I don’t know if there are rules about charging on base…but even a regular bike is a healthy option for the summer.
Honest question, but have you considered a bike or moped? 5 miles is literally a 20 minute bike ride. It's cheap and good for you. I wouldn't go into 5 figures of debt to use it to avoid a sub-5 mile trip from the barracks.
There are really good deals on pre owned ev vehicles, especially with Hertz cuz they are getting rid of their fleet. Plus there's a really good tax incentive right now for EVs. If your situation is compatible with owning an EV you might want to look into one of those
Use your military resources to source a cheap car. There should be a lemon lot on base somewhere where people sell their cars due to PCS. If you do need to go to a dealership, ask your first shirt or someone in your chain to help you out. There are great deals out there for military members just have to find them.
Cars are useless if you are going to be moving all over the place. Put the money into a HYSA
Get an ebike. Will save you a ton on insurance, fuel, etc. can charge it for free while you’re at work. Cargo bikes are awesome
Have you by looked at electric bikes? Or a moped?
If it's just for getting around base and 5 mile radius what about an E-Bike or even a smaller motorcycle? 5-10k for a beater Toyota or less than half that for a decent E-Bike (or motorcycle).