It's obvious this is what you really want to do, I think it will be a 'learning experience' I can't imagine spending 50% of my maximum monthy salary on ANY car. but if it's what you really want--go for it, hopefully the babes you're trying to attract will overlook the fact that you're living in a cardboard box down by the river
Cheers,
Mike

 

hahhaha this isnt for the babes...its for me! hahah well i know i dont wanna get myself into something that i cant handle so imma do a lot of thikning. i guess if i make enough money, then itd be cool.

 

whats needed to be said has already been said.

for me personally, im in the same boat as you. college student, want an s2000 ( currently i drove a 2002 rsx-S). however, i put 7.5k down on my car, and financed 8k, with 5.5%. this is one of the best interest rates you can get nowadays, and although my payments are pretty low, 140-150/month, i still have to pay for insurance, gas, maintanence (thankfully very low!). I'm going to school full time, and its a pain to balance work and school just for a nice car.

I've decided to wait and start making some real money before I decide to purchase a 30k+ car. buy a del sol or miata if your really craving the convertible aspect of the car, but for now, save your money. thats my 2 cents

 

oh....del sol, mmiata.. blah.. hahaha jk jk jk.. i dont plan on buying a 30 k s2k, a used one...

 

Moving to intro... (check the FAQs, Eric).

Welcome!

 

I hate to be a spoil sport, but buying an $18K car right now as a college student who is evidently living on a very limited income doesn't make sense.

I know you want an S very badly, but just wait... especially if you are going to have student loan payments when you graduate. You've got your whole life to be saddled with bills. Try to stay as debt-free as possible while you are young and just enjoy yourself. You'll probably be an active driver for the next 50 - 60 years. You will have plenty of time to buy any kind of car you want. I'm 34, and I have owned five new cars since I finished college: Accord, Civic, GTI, 330i, and now S2000.

Something else to think about. The less debt you have the more appealing you will be to the opposite sex (or same sex as the case may be). My sister recently turned down a marriage proposal from her long-time bf because he has almost $100K in student loans, credit card debt, and car loan.

Make the wise choice.

 

^ Yeah, but did her bf have an S2000??????

 

^ AHHAHAHAHHAHAHAHA

i know im sounding immature and retarded, but actually im thinking things through and right now its hypothetical to see if it is possible. im thinking it is, but many of you helpful guys think its gonna be hard. i have to wait and see!

 

that isn't what I was getting at...I'm dealing more from an insurance perspective.

Both S2000s I've had totalled (not by my actions) the insurance payout was more than I owed, and in one instance more than I paid a year earlier.

Of course if you buy retail and trade in the next day you'll be hosed. If, however, he decides to sell his car maybe a year later, chances are he would get more than he owed for it. You pay off about 15-18% of the balance after a year on a 5 year loan, and used cars don't often fall that much (of course, the exact age does become a factor). Lets just agree that after 2 years he'd definitely have equity...he would not with a NEW car.

 

Deep down you know it's going to be rough. Your desire for the car is overtaking your senses. At this point, you're pretty much trying to come up with any logical idea that will back up your decision to buy the car. I was in the same boat as you while in college but I knew I couldnt afford it. I was even living at home.

Sure, you can pay the insurance up front. That's pretty much your entire summer's work. Then when school starts and you work only part time, probably about 50% of your monthly salary goes to the car. Then you have to consider gas since this car will be your daily driver. So what's left for you to go out and enjoy yourself? Pretty much close to nothing.

Just give it a couple months and summer will be over. Then you wont want the car as much anymore. Drive what you have now and enjoy your relaxed lifestyle.