How can I quickly raise $7500?
I'm 14 and car shopping because I want to have a car to use when I get my permit, and I want to be used to the car by the time I get my license. There's a used 2005 Ford Mustang for sale (which is essentially my dream car) near me, but the price is set at $7500, and the car is perfect for me, but I don't know how long it will be on the market for, and my parents definitely won't pay for it. So does anyone know any quick ways to earn money (legally of course)?
Only one way. Stonks
Mow 750 lawns. Plus another couple hundred to cover insurance and another hundred or so to cover maintenance. Or, work 20hr/wk at minimum wage for a year and mow a couple hundred lawns…
Grow up, kid, get a job and pay it with your own money.
'the car is perfect for me' It would be IF you had the $7,500 cash to buy it, plus the sales tax, plus the registration fees, and enough to pay a year of insurance, which on you would likely cost more than the car does.
Plus, at your age, you can't get a learner's permit, much less a license, sign any legal contracts, or be covered by any insurance.
There's only one place where you can have this car: In Your Dreams.
If you can get a job that nets $7 an hour and you save 90%, it will take you almost 1200 hours to raise $7500.
If you can work 20 hours a week, you are looking at 60 weeks. The mustang will be long gone.
If there was a quick way, legally of course, we'd all be doing it…
Oh to be 14 again with dreams of the impossible. By the time you have raised $15000 (the amount needed to legally put the car on the road) it will be long gone
Investments.
Pell Grants.
Or, get an equity loan on house. I got $25,000. But. I didn't go Crazy buying vehicles. Tempted by an Electra Glide for $4800. But, i paid some things off. Saved 28% interest and a lot of insurance.
Well beside what everyone here is saying about earning money, which is true.
As a 15-16 year old, You don't need/want a Mustang, you just think you do, which is understandable.
Pick up the phone and call around to different insurance companies and ask them what it costs a 16 year old for coverage. My daughter was driving a 2001 Toyota Corolla and it was $264 a month.
Also just speaking as a dad, if that is the V8, you'll kill yourself in that car. You think you can, but you can't handle that power.
IMO: every kid's first car should be an ol' beater. You're going to tear it up, not do the maintenance on it. 90% of the time car isn't going to last 2 years.
Find an old Ranger or something for $1500 bucks and run it until the wheels fall off.
Rob a bank?
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