My dad and I disagree over a car purchase. Whose right? (more information this time)?

So I'm 23, graduated college this year. I have a great and stable job in another state. I pay all of my bills, except the insurance on the my dad's car that I drive temporarily. I have 8,000 in cash that I want to buy a car with. Leaning towards a 2010 Ford Escape. My dad want's me to borrow 10,000 and use my 8,000 as a down payment. I don't want a car payment because I want to pay of my student loans faster. I listen to Dave Ramsey a lot agree with him on this subject.

Annual income: 60k gross
Capacity to save each month: 2,000 (if I continue to live like a college student, and I'm strong saver… Obviously)
Credit score: 700
Been at this job almost 3 months. 9 months left on probation.

My dad is the reason I'm successful at a young age, and I have a lot of respect for him.
We both think we're right and this is getting a little tense.

I want my own car to be financially independent.

You are correct this time.

You are still correct. However, you need to act like an adult and make your own decisions.

You have a better head on your shoulders than your dad. Besides that, it's your life that's going to be affected by it.

You are the reason that you are successful. Your father did a great job guiding you there. Kudos to both of you!

Be careful following too much of Dave Ramsey. He can be penny-wise and pound foolish.
It seems like you are in a trap where you don't know how to "use" your money. You have a solid income but if you want to be financially independent, you are going to have to learn to make it grow for you.

What's the point of paying your student loans off quickly? What's the interest rate?
What's the point of buying a car for cash? There might very well be a good reason in your case…
What's the point of having a $60K job, if you are going to live on ramen?

Being financially responsible means that you don't purchase what you can't afford and making sure if you buy something you know how you are going to pay for it in the event that your income declines. It doesn't mean you have to be tight-fisted.

So regarding whether you get a loan or not for a car?
- you have been at your job for a few days. Can you even get a loan without dad co-signing? I'd say probably not. Do you want dad to co-sign? I wouldn't. If you can get a loan, without dad, even with your credit score the terms aren't likely to be good because of the lack of employment tenure.
- so it appears you have no choice but to buy a used car… That said… Look at cars that are known for their reliability- I don't think a Ford Escape is anywhere on that list.

Have him go look at the car with you so he can see how nice or bad it is, he can see if a good one and tell if $8000 is a fair price that way he can have some input on it and be happy you asked for his opiniun

I'm clearly in favor of paying cash for my purchases, no matter what they are. When you pay interest on a loan, you get nothing for it. Secondly, the value of your purchase decreases with time. So you lose some money there. Buy the car you want. If dad is willing to pay the interest payments for you, buy whatever he wants. I bought a new Nissan Pathfinder almost two years ago. Paid cash. Similar Pathfinders are listed for sale, today, for what I paid almost two years ago. Sometimes we get lucky.

INTEREST RATES? You pay off the highest interest rate loans first. If your student loans are at 4% and the best you can do on a car loan is 5% then you pay the car off first. Do this ALWAYS, pay higher rate stuff off first, then the lower rate.

I tend to side with no debt. And I'm unclear if your dad wants you to spend $18k on a car?

Maybe meet somewhere in the middle?

Ideally, a car still under factory warranty would be best but they are hard to find for $8000.

I paid $8800 for mine and it had 5 months left on the power train only. (govdeals drug seizure)

3 months on the job MAY make it hard to get a loan at reasonable rates without your dad cosigning. Lenders like to see 6+ months. Also, lenders don't like to lend less than $5000 but some credit unions might. (Do NOT tell them you are going to pay it off early but make sure there are no prepayment penalties) State Farm does $5000 car loans but charges a fee if you pay it off before a year. (I think)

Also, buy from a private party, a car with no paint and no body work. You should save $1000-2000 or more. And pay a mechanic to look it over.

Finally, I'm not sure a ford is your best bet. What does consumer reports say?

US News says there are 15 2010 models that are better choices. (But obviously, you don't have to get a 2010)

Another thing since you are a good saver, when you go on your own insurance, be sure to get the highest deductible.

I don't carry full coverage and I pay myself the difference every 6 months. You can't do that with a car loan.

You'd probably want to get a $2000+ deductible at first until you have $25-50k saved.

I also decline all insurance except liability. No homeowners either. (I can replace my house) Saved $9000 in premiums from that already.

Sounds good, except for the vehicle.

You're making 5000 a month but you can only save 2000? That means your outgoings are 3000 a month? You don't need another outgoing at this time.
Buy something for cash rather than borrow more. And learn to make your own decisions.