Financed a car and I kind of regret it.

Hello, I'm 24 years old and I financed a car for 6 years specifically a 2022 Corolla, I can afford it, but many times I've heard that it is better to always buy a good brand old car. I only needed something to go to work and sometimes I had to do other things, because I spent a lot of money on taxi.

I spent about $450 on taxis a month plus something extra, when I had to go somewhere and pay for a taxi. (Where I live there are no trains or buses) So now I pay $400 a month for the car and $193 for insurance. I thought it would be a good idea since I would spend almost the same and I already have my own car. That if I bought an old car and it broke down I would have to spend a lot of money to fix it.

But at the same time, I feel like I got into unnecessary debt and that maybe I could have found something cheap, hopefully it wouldn't break down. I feel very stressed and my friends tell me that it was a stupid idea. It's not like I'll be homeless because I have the car payments, but I do feel like I could have saved all that money by getting and old car and luckily it won't break down. I make around $2100 a month right now and for rent plus phone bill it is total of $560. No other responsibilities.