A young woman's financial gamble: buying a $38K car on a $30K salary. But wait, there's more to this story than meets the eye.
When it comes to big purchases, optimism can cloud our judgment. We convince ourselves that the extra income will come through, whether it's from a side hustle, a bonus, or extra shifts. And that's exactly what happened to Kaitlin Sonday, a TikToker and Target employee, who bought a brand-new 2025 Subaru Forester, a car that costs more than her annual salary.
But here's where it gets interesting: Sonday, with her relatable personality and budget-conscious mindset, managed to make this seemingly impossible purchase work. She put down a substantial $16,000, leaving her with an $18,000 car loan and monthly payments of $308. With a 6.29% interest rate and a 72-month loan term, she's confident in her ability to pay it off early using her TikTok earnings.
The internet, as always, had opinions. Some users questioned her financial decision, suggesting it's not sustainable to have a car that costs more than your annual income. Others focused on the down payment, arguing that she could have bought a cheaper car outright with that amount. But Sonday has a side hustle that many commenters may have missed—her TikTok presence, which has allowed her to monetize her content and save up for this purchase.
And this is the part most people miss: While financial experts generally advise against taking on excessive debt, especially for depreciating assets like cars, Sonday's story highlights the importance of considering individual circumstances. Personal finance is just that—personal. It involves various factors, from income and debt ratios to long-term goals and personal preferences. For Sonday, the joy of driving her dream car might just be worth the financial stretch.
So, what's your take? Is Sonday's decision a risky move or a calculated gamble? Should we be more mindful of financial advice that doesn't account for individual circumstances? Share your thoughts in the comments, and let's keep the conversation going!
