Guys, let me preface this with: I know, don't get a car loan.
I am too dumb to figure out the numbers side of this, I just have a feeling that I can't shake. Here's the story:
We would like to get a new (2-3yr old) car (in the next 6mo) before our current one needs some maintenance and rego etc. Currently only have emergency savings.
We have basically no outgoings at the moment (living with parents for the next 18mo while studying, live pretty frugally, WFH mostly), no debt and two full time incomes (60-80k each).
My FEELING is that we should get a car loan (for around 20-25k) when we decide to purchase, enabling us to spend all the money we earn on getting established in the ETF market early, whilst we spend any leftover money on paying the car loan off super early (i.e. in less than 12mo). This feels smarter than saving 25k in cash and then dumping it all at once into a car. It's a small headstart but it could still be useful, no?
Can anyone suggest why this is a terrible idea, why this is an okay idea, or how to figure out if it's terrible or okay?