Law School Discussion

buying a new car...?

*shell*

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buying a new car...?
« on: January 30, 2006, 08:13:14 PM »
hey...my car is starting to crap out on me...and that's really really bad.  can't live without transportation (seriously).  so i'm thinking of getting a new car.  i've been putting it off for a while though because my car will be paid off in 11 months...will schools take a car payment and insurance into account when they determine my loans.  can i get student loans to cover this while im in school?  i thought it would be impossible to get one since i won't really be working in school...didn't think i could make payments, but if its covered in living expenses maybe i can?  help!

Re: buying a new car...?
« Reply #1 on: January 30, 2006, 08:15:20 PM »
noooo...most schools have a modest amount in budgets to cover transportation (i think it is modest) but car payments are definitely not part of that....dunno about using private loans....(i have a 340 a month ayment myself  :()


AH

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Re: buying a new car...?
« Reply #2 on: January 30, 2006, 08:19:43 PM »
I don't see how car payments would be included in student loans, sorry. :(  I'm on a 1996 w/ >120,000 miles myself

Re: buying a new car...?
« Reply #3 on: January 30, 2006, 08:21:34 PM »
damn i wish i had held on to that 97 accord! it would be paid off by now

i hadn't thought of LS when i bought my current car  :-\ all i knew was i had no car, and the loaner i had had no ac boo florida

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Re: buying a new car...?
« Reply #4 on: January 30, 2006, 08:28:29 PM »
then how do people pay their bills?

Re: buying a new car...?
« Reply #5 on: January 30, 2006, 08:30:03 PM »
unfortunately

the schools don't really care

mommy and daddy for many

others sell their cars

others save for payments during the year....

AH

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Re: buying a new car...?
« Reply #6 on: January 30, 2006, 08:34:39 PM »
Schools tend to be very modest with their living expense estimates (Northeastern, for example, says this specifically in their app).  I basically live off my loans because my income is so small and all it covers (for a semester) is rent, utilities, and student loans that are currently in repayment (food is paid with my work income).  I get the maximum amount of student aid allowed (and live in a low COL area) and EVERY sememester struggle to get by for the week before my next loan check comes in.  There is room to live, but a car payment would def. be an extra expense.  You can probably take out a private loan to cover it, but the interest on that on top of the interest on the car loan itself would be ridiculous.

This is just my personal experience, but if you plan to live off of loans you really have to live as modestly as humanly possible.  I have heard of many people who "lived like lawyers" in law school, then had to live like law students their first five years or more of practice.

Re: buying a new car...?
« Reply #7 on: January 30, 2006, 08:37:30 PM »
yup


sigh...i wanted to pay a car off for once  :D

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Re: buying a new car...?
« Reply #8 on: January 30, 2006, 08:39:51 PM »
I have to say- I hate to be negative, but I just wanted to warn anyone against getting into things that are really rough!  It sucks it really does.  My car could die at any moment and I would be beyond screwed (esp. if it were in an accident I was in without health insurance!), but it is very difficult to find a happy solution when you're a "poor college student."

Re: buying a new car...?
« Reply #9 on: January 30, 2006, 08:41:51 PM »
it must be  :-\ esp when you aren't around family to give you a hand....