Financial Question for people around 23 y.o

[Polyal]

Hey,

I am at the stage where I want a new car, and it must be a newish one as I have just about had enough of "older" ones. But my falc is doing alright at the moment I must say.

My question for the younger people (but ALL opinions welcome), how do you guys work out your finances while at uni and working a part-time job?

I also pay rent so this limits how much money I will be able to borrow. The car I want is a Mondeo ST24. Its good on fuel, has enough power and is priced well. Only issue could be parts but I know someone who works for Ford so they can get me discounted parts anyway.

So I would be looking at a loan of $12-13000. I would obviously sell my car and transfer what ever I get for straight into the loan.

What kind of weekly repayments would I be looking at?

Ive noticed that there is quite alot of younger people with fiesta's/focus', and I was just wondering how you sorted it all out.

Also, do you regret being locked into a 5 year deal?

Any information/experiences would be fantastic.

Do you think its a good idea or should I just buy a $5-6000 car staright out (like a 405 Mi16)?

Thanks! :baby bott