Long story short. My annual salary is £50500. I need a new car and my lease is coming to an end. I’m looking at taking out a 20k personal loan with my current bank over 5 years to buy a car which is 24k. After I pay all my bills (all direct debts, food etc) I have just over £1600 a month free money to do what I want. The car loan is 387 a month for 5 years. Is this a stupid decision? Never taken out a loan because I simply haven’t needed to in the past. Can’t decide. I feel like 50k is a decent salary so I’d like a nice car but 387 plus insurance tax servicing it all adds up. I have friends earning less and paying more for their car so maybe this isn’t too bad ? Let me know what you think. And yes I know cars are not an investment, but they are fun. After my mum was diagnosed with terminal cancer I realised I could drop dead any day and so saving all my money is kinda pointless. Cheers all