I’m 21 years old and considering buying a Mazda CX-30 with a 0% loan and a €4,000 discount. The final price would be €31,000.

*translated and formated by chatgpt sorry

My income is at least €1,680 net per month (base €1,400, but realistically more since I recently started working weekends). I also get around €100 monthly for meals, bonuses of about €1,400, and overtime at least once a month for a minimum of €100 (night shifts, weekends, etc., which can vary). I work 12-hour shifts: 2 days day shift, 2 days night shift, then 4 days off.

I’ve already test-driven the car and really like it, both in terms of driving and design.

The total monthly cost would be about €530 (including insurance: mandatory, comprehensive, and GAP) for 4 years, with a final payment of €7,000. Since it’s a 0% loan, I would only need to put down 10% upfront, so around €3,000.

In the past 10 months, I’ve saved €8,000 (and I know I could save even more if I tried harder). Out of that, €3,000 is currently invested and €5,000 is set aside for the car. I still have an extra €2,000 available, and my father will give me €1,000 which I technically wouldn’t need to repay (although I probably still would, even if over a long period).

I’m also considering additional costs: around €1,000 for protective wrap/film and about €450 for underbody protection before winter (I still need to check if that’s worth it, since the car isn’t as low as a Mazda 3).

So my estimated monthly expenses would be:

• €530 car payment (including insurance)
• €150 rent (living with parents)
• €300 fuel (I’d like to keep part of this as a reserve for repairs, up to €1,000)
• €250 savings
• €200 food (for work and home; we are a 4-income household, so roughly this amount)
• €150 eur for final payment

This means my 6-month emergency reserve would take a significant hit. In theory, I could move the €3,000 I have invested back into cash and start investing again later.

The reason I’m considering a new car instead of a used one is that used car prices are still very high. For example, a 2020 car with over 100,000 km costs around €20,000. Sometimes you find a decent deal, but then you see a slightly better option for just €3,000 more, and it keeps going like that.

With a new car, there’s less stress about hidden issues like rust or unknown problems. Yes, after 4 years the car might be worth around €22,000 at most, but it will likely stay in very good condition.

I also considered buying a €20,000 used car with a 7% loan over 6 years, but I’d try to pay it off as quickly as possible. For example, if the monthly payment was €300, I’d try to pay €900 instead. But on top of that, I’d still have to cover insurance and other costs.