how old when you bought your STi
03-13-2005, 07:38 PM
#1
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how old when you bought your STi
Okay so i was doing the math to see if i can afford my dream sti next year when im doing paying off my bmw. People keep telling me that im to young (18) and dont make enough to make the monthly payment and insurance on the STi.... Well heres a little background we have free rent... girlfriend of two years parents have an extra house, so rent is not an issue, lucky yes i know haha. anyways my current job will bring me in about 2000-2500 a month. i have been looking at STi's for around 27grand and with a trade in on my 325 i can get them down to around 20grand before taxes.... i did the math at at 8% for 5 years its around 400$ a month 4 years 480$ a month... both of which i think i can afford even with the insurance on the STi gas, food, repairs etc... so what i am asking is how old were you when you bought your STi, how much you pay a month and how much do you make a month (if you dont mind telling haha) also what are you other expenses, and a big question what do you pay for insurance monthly half year etc...
Also do you think buying a used STi with around 10-15 thousand miles on it is a bad idea.... i know it was probably driven hard, but that car is sooo young! my bmw has over 100,000 miles on it, an STi will run that high i suppose
Thanks for all your imput!! hope to stick around and gain as much knowledge as i can, before i make my purchase....
David
Also do you think buying a used STi with around 10-15 thousand miles on it is a bad idea.... i know it was probably driven hard, but that car is sooo young! my bmw has over 100,000 miles on it, an STi will run that high i suppose
Thanks for all your imput!! hope to stick around and gain as much knowledge as i can, before i make my purchase....
David
03-18-2005, 09:38 PM
#2
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Join Date: Mar 2005
Location: Salisbury, MD
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Car Info: 2005 Subaru Impreza 2.5RS
I'm 20 currently, and I'll be picking up the STi around my 21st birthday.
If you have enough money then you should be fine.
But def. check around different insurance agencies and different plans within each. The insurance that I'll have to pay has varied from anywhere from 140 a month to 500 a month.
And lucky you for having a free place. Damn, i'm jealous. lol
If you have enough money then you should be fine.
But def. check around different insurance agencies and different plans within each. The insurance that I'll have to pay has varied from anywhere from 140 a month to 500 a month.
And lucky you for having a free place. Damn, i'm jealous. lol
03-20-2005, 01:49 AM
#4
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Location: Pleasanton, CA
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You have a gf of 2 years and a 325i. You are moved in with her in your extra house, right? So a.) you don't need to bling and b.) you don't need a new car since the 325 is really a decent automobile for any 18 year old... While yes, you are really capable of owning and enjoying a performance car at this point, would you really want to commit to however many years of paying x dollars a month when you could be saving for the future? Just consider it in the long term..... would you be 90% as happy with a regular WRX? are you buying this car because you need a new car or because you want it?
And I don't know if it's such a wise decision to buy a used STi or really a used performance car of any type unless you know the owner or know for sure it hasn't been wrung out every day and redlined to all hell, because that can only mean the car will be prone to high-dollar repairs in the future. Peace of mind comes from owning a car from the start. Don't buy a modded one, and try to get a low mileage one if you buy used.
Good luck in your decision!
And I don't know if it's such a wise decision to buy a used STi or really a used performance car of any type unless you know the owner or know for sure it hasn't been wrung out every day and redlined to all hell, because that can only mean the car will be prone to high-dollar repairs in the future. Peace of mind comes from owning a car from the start. Don't buy a modded one, and try to get a low mileage one if you buy used.
Good luck in your decision!
Last edited by resident smurf; 03-20-2005 at 01:53 AM.
03-21-2005, 02:45 PM
#5
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I'd vote against it just because it is a pretty bad idea to commit to that much of a debt at such a young age.
Take into account your "stability" also. This is in terms of whether or not you're always going to have the same job, home, life situation for the next 4 years. Now take into account the fact that young people's situations tend to change A LOT because of school and other things. You may be making enough NOW but what about 2 years down the line?
Case in point, I bought a pretty expensive car while I was in college because most of my living expenses were paid for by scholarships etc. When I finished college I no longer had all of those little niceties and had to afford rent and pay for my college loans.
So I suggest WAITING until you really get some kind of stability in your life before committing to that much debt. Keep the bimmer until you build up at least $10K of savings so that you'll always have a cushion in case you lose your job or end up moving out.
Take into account your "stability" also. This is in terms of whether or not you're always going to have the same job, home, life situation for the next 4 years. Now take into account the fact that young people's situations tend to change A LOT because of school and other things. You may be making enough NOW but what about 2 years down the line?
Case in point, I bought a pretty expensive car while I was in college because most of my living expenses were paid for by scholarships etc. When I finished college I no longer had all of those little niceties and had to afford rent and pay for my college loans.
So I suggest WAITING until you really get some kind of stability in your life before committing to that much debt. Keep the bimmer until you build up at least $10K of savings so that you'll always have a cushion in case you lose your job or end up moving out.
03-21-2005, 05:35 PM
#6
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Join Date: Nov 2003
Location: Kaneohe, HI
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I was 23, I am 24 now....I had a stable job as an officer in the Marine Corps. And I bought my STi on a whim, when going to the local scooby dealer for a gasket for my 03 WRX, as a result I now pay $595.00 a month. Easy for me to swing, because of the stability of my job and the government benefits.
If I was 18/19 and wanted to go through college, could I have swung it......NO
Now, its really up to you. If you have a secure job, with a stable 2200-2500 take home a month, and have budgeted accordingly...you will be able to decide if you can swing it, not us.
If I was 18/19 and wanted to go through college, could I have swung it......NO
Now, its really up to you. If you have a secure job, with a stable 2200-2500 take home a month, and have budgeted accordingly...you will be able to decide if you can swing it, not us.
03-21-2005, 06:36 PM
#7
so true, so true... I make a heck a lot more than I used to when I was in college, but the funny thing is I was able to afford a car then, but not now. It has been a year without suby for me, and I am waiting for the right time to get one. 
Why you wonder? I bought a condo after I graduated that's why. I rather have a home then driving a cool car. That's just my preference. But hey, bottom line, it's your money, your life, do what you want! Good luck!
Why you wonder? I bought a condo after I graduated that's why. I rather have a home then driving a cool car. That's just my preference. But hey, bottom line, it's your money, your life, do what you want! Good luck!
Originally Posted by bpang1
it is a pretty bad idea to commit to that much of a debt at such a young age.
whether or not you're always going to have the same job, home, life situation for the next 4 years.
fact that young people's situations tend to change A LOT because of school and other things.
So I suggest WAITING until you really get some kind of stability in your life before committing to that much debt. Keep the bimmer until you build up at least $10K of savings so that you'll always have a cushion in case you lose your job or end up moving out.
whether or not you're always going to have the same job, home, life situation for the next 4 years.
fact that young people's situations tend to change A LOT because of school and other things.
So I suggest WAITING until you really get some kind of stability in your life before committing to that much debt. Keep the bimmer until you build up at least $10K of savings so that you'll always have a cushion in case you lose your job or end up moving out.
03-28-2005, 05:40 PM
#8
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Join Date: Sep 2004
Location: Santa Cruz, CA
Posts: 33
Car Info: 04 Silver STi
I was 22 when I picked up on my STi. 23 now.
I got mad at a friend, and his POS Z28. I told him that a stock 4 banger could beat his "V8 american power." He just wouldnt let it go. I finally had it, bought the car, and shut him up for good - he just bought an evo (the Z28 kept breaking!!!)
I shut up though after i got my first $600 car payment, and $300 insurance payment.
Oh well, just makes me work for my food and rent even harder now.
I got mad at a friend, and his POS Z28. I told him that a stock 4 banger could beat his "V8 american power." He just wouldnt let it go. I finally had it, bought the car, and shut him up for good - he just bought an evo (the Z28 kept breaking!!!)
I shut up though after i got my first $600 car payment, and $300 insurance payment.
Oh well, just makes me work for my food and rent even harder now.
03-28-2005, 07:26 PM
#9
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Join Date: Aug 2004
Posts: 150
That's exactly what I did when I was planning my finance before buying my 05 STi. I am now 23, and it didn't turn the way I planned it, why? It's just not realistic to say I'm having this much money when I purchase it, so on and so forth. Things change from today ti'll tomorrow, it's just too unpredictable. I earn at least $3200 a month, and that's pretty decent to support the car, but if I had a smaller income than this, I wouldn't consider it.
In your situation, save, save, save is all I can say. The bigger your down payment, the better you're off. DON'T RUSH IT!
In your situation, save, save, save is all I can say. The bigger your down payment, the better you're off. DON'T RUSH IT!
04-05-2005, 09:37 PM
#11
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Join Date: Dec 2004
Posts: 293
careful
in 4 years working in the car business I can't tell you how many times I've seen people buy cars that they could afford at the time, then have a change in lifestyle, a kid, new job, kicked out of the house by parents, etc... and end up having to sell a 6 month old car, and take a HUGE loss.
A friend of mine had "more than enough" to buy the S4 he bought from me at the end of 2001 even though I counselled him not to do it. A year later he lost his job, the car got repoed because he couldn't afford the $1000 per month payment, and he now owes a collection agency almost $12,000 in negative equity, and will have trouble getting a car or house loan for the next several years.
It's not mine, or anyone else's decision here, but I see on this board, and on NASIOC and EVO forums etc SO MANY STi's EVO's etc. etc. that get bought by guys that are late teens, and then they end up going to college, have a kid, change jobs, and have to sell the car a year later, and blow $7000. On the other hand, there's tons of guys your age that have it figured out, and legitimately can afford an STi, and while I'm jealous, and want to punch you, It's only because I wish I could afford one too. :-)
Oh, and as far as "what could possibly go wrong with a car in 15,000 miles". This is a case of "famous last words" when it comes to a super high performance car. I've seen and heard of STi's and WRX's that were driven hard (and some whose owners claim that the cars weren't driven hard) blow trannies in half that many miles. Do a quick search in some of the warranty and maintence sections here and NASIOC, and you'll answer the question for yourself of "what can go wrong in 15,000 miles". If treated well, it can easily go 100K+, but many are not.
Best bet for buying used is to find an older guy that bought it because he thought it would be a great weekend car, and after a year realized he wants a convertible, or something. There's a lot of those around.
A friend of mine had "more than enough" to buy the S4 he bought from me at the end of 2001 even though I counselled him not to do it. A year later he lost his job, the car got repoed because he couldn't afford the $1000 per month payment, and he now owes a collection agency almost $12,000 in negative equity, and will have trouble getting a car or house loan for the next several years.
It's not mine, or anyone else's decision here, but I see on this board, and on NASIOC and EVO forums etc SO MANY STi's EVO's etc. etc. that get bought by guys that are late teens, and then they end up going to college, have a kid, change jobs, and have to sell the car a year later, and blow $7000. On the other hand, there's tons of guys your age that have it figured out, and legitimately can afford an STi, and while I'm jealous, and want to punch you, It's only because I wish I could afford one too. :-)
Oh, and as far as "what could possibly go wrong with a car in 15,000 miles". This is a case of "famous last words" when it comes to a super high performance car. I've seen and heard of STi's and WRX's that were driven hard (and some whose owners claim that the cars weren't driven hard) blow trannies in half that many miles. Do a quick search in some of the warranty and maintence sections here and NASIOC, and you'll answer the question for yourself of "what can go wrong in 15,000 miles". If treated well, it can easily go 100K+, but many are not.
Best bet for buying used is to find an older guy that bought it because he thought it would be a great weekend car, and after a year realized he wants a convertible, or something. There's a lot of those around.
04-06-2005, 08:42 PM
#12
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oh, and keep in mind that subarus generally are a little more high maintenance than your average import(so buying used keep that in mind). i only bought my STi because i was ready financially. i have one kid and have a house. plus i was tired of my wife being the only one with a subie. these cars rock.
aloha from the summit of *-^-Mauna Kea-^-*
oh, and keep in mind that subarus generally are a little more high maintenance than your average import(so buying used keep that in mind). i only bought my STi because i was ready financially. i have one kid and have a house. plus i was tired of my wife being the only one with a subie. these cars rock.
aloha from the summit of *-^-Mauna Kea-^-*
Last edited by gdogg; 04-06-2005 at 08:45 PM.
