Well, been thinking that maybe i should try to get something cheaper (4-6k) range and push back the S for until i graduate.

Not really sure what else i could see myself driving. New BMW's can be had for that range, but im also looking at something a little more basic.

I somewhat like the styling of Tiburons, but its a Hyundai.......lol.

What would you recommend?

Oh, i found an 2000 S in St Louis for 6k, needs some TLC along with soft top repair. im thinking about trying to get through the bank. He hasnt replied to my emails yet, and i need to talk to the bank to see if they will approve me this time.

Any input appreciated.

 

Just ran some numbers, Liability only for a 2000 S is 85~/month for insurance, not that bad.

1,000 collision/comprehensive deductable is 184~/month. 147~/month just for comp.

Considering how old it is, if i were to get this, would it be smarter just to go with liability?

 

If I had it ALL to do over again, and I were your age, I wouldn't worry so much about my car. I'd get something functional and finish school and find a job. (read: career.) I would then buy a house.

THEN I would worry about a car.

 

Career might be here in about a week.

Pay isn't there, but it opens me up to MANY opportunities within the company.

Another interview tomorrow, dunno what the salary is on it.

 

Good luck with the job.

But get paid FIRST. Real Estate will EARN you money, investing will EARN you money. Cars will LOSE you money.

Don't play with cars until you can afford it. It will make your money go MUCH MUCH further.

 

I agree with everything you say, but this is something that is affordable for me for now.

I still have my current lease to August, long enough for me to get a loan(hopefully) paid off, and something strong for my credit report, so a home loan would easier to get.

I dont think i am even ready to start looking for a home. Im only 19 currently, and graduate in August.

 

Fixed.

The cost of the car is one thing. You are looking at the insurance costs (which is good.) Don't forget to factor in maintence/repair costs. Tires (Snow tires AND summer tires) if you plan to drive it in the winter. Storage costs if you don't. Registration costs. Plan for more tickets. Plan to work out transportation when its more than just you and one other person, etc.

It all adds up.

 

$6,000 in a 401(k) or IRA would turn into ~ $400,000 by the time you hit retirement age. A $6000 S2000 would depreciate to basically nothing in the same time frame.

An extra $6000 down on a house would save you a pretty decent penny over the length of a mortgage. etc.

 

I think thats the first "fixed" quote i'd have to agree with.

It is emotional. Cost wise, i think liability would pay off more in the long run then going full coverage.

Maintenance and repair shouldn't be an issue considering i can do it, my dad, or some connections i may have.

Tires, may be an issue, but driving the passed 6 months obeying every single traffic law, i'm sure i am able to control the pedal and maybe tires now.

Winter beater, by the time winter hits i shud be able to afford a older civic, or maybe get lucky and find another celica

 

Two cars cost more than one.

Don't get me wrong. I "get it." You would be hard-pressed to find someone more emotionally driven by cars than me. But as such I have pissed away a FORTUNE.

My advice, based on my own experience, is to NOT do what I did.