The right thing? Confused 18 year old.
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I say **** it, go for it man, you only live once. The only thing you should be mindful of is the cost, make sure you have a steady income or if you're parents will back you up if you lose your job. I wouldn't get an STi though, college is rough on cars and that's just too nice of a car for it to be spending most of its time in a college parking lot/garage.
-faast
-faast
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IMO as a college student you should not be spending so much on a car. If you are seriously going to finance a 30k vehicle for 60 months have you even done the math to see your total cost? It’s huge... I think you would be making a mistake. Even with a mid 6 figure income we don't like having a car payment, and avoid them on for the most part. I will probably end up getting a 2.5RS over the WRX because its cheaper. Its running costs will be a lot cheaper (insurance, future maintenance, etc...) Later in my career when I have lots of cash saved away for retirement I will enjoy the car I truly want...
Do your self a favor... Get a fun affordable car and save until you can really afford a car. Our young generation really needs a reality check when it comes to money and savings. America thinks if you can make the payment, you can afford it...
Good luck and be smart,
Kenny
Do your self a favor... Get a fun affordable car and save until you can really afford a car. Our young generation really needs a reality check when it comes to money and savings. America thinks if you can make the payment, you can afford it...
Good luck and be smart,
Kenny
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i'm 19 with a wrx
trust me, go with the lower payment. i wish i had, but i already bought the car and now i can't bear to part with it. 
You'll never have money again. bottom line. I've been making $12 an hour since i was 16 with very few other bills and I still struggle. i don't know what your situation is, but speaking from my experience, i would go with another awd turbo rocketship (like an eclipse GSX '99). You'll owe a lot less, or maybe none in your case and still have a fun car you can play with. I'm missing my second semester of college because some B.S. came up and I didn't have the money for tuition. guess what didn't help the situation? my $24000 loan. To me, it's a matter of "just in case" because when other things happen that are out of your control (wrecks, tickets, medical, unemployment etc. just stupid ****) you have options. When you owe, you have no options, you either pay or the world ruins your life. Also with school, a familiar saying comes to mind "Now i owe, so off to work i go" Working a stressful job and going to school is hard too. I used to have an eclipse with a WAAAY lower payment and that period of my life was a HELL OF A LOT easier than what i'm going through right now. For example: I had some **** luck and made a bad decision, hit a curb and now i'm paying $500 a month for a car that's sitting on jackstands in the garage, un-drivable. I have enough money to fix it or pay the payment, not both. In addition to that, i made poor choices, so I owe a grand more than the car's worth. SOOO just be careful, think before you jump and don't let it happen to you.
You'll never have money again. bottom line. I've been making $12 an hour since i was 16 with very few other bills and I still struggle. i don't know what your situation is, but speaking from my experience, i would go with another awd turbo rocketship (like an eclipse GSX '99). You'll owe a lot less, or maybe none in your case and still have a fun car you can play with. I'm missing my second semester of college because some B.S. came up and I didn't have the money for tuition. guess what didn't help the situation? my $24000 loan. To me, it's a matter of "just in case" because when other things happen that are out of your control (wrecks, tickets, medical, unemployment etc. just stupid ****) you have options. When you owe, you have no options, you either pay or the world ruins your life. Also with school, a familiar saying comes to mind "Now i owe, so off to work i go" Working a stressful job and going to school is hard too. I used to have an eclipse with a WAAAY lower payment and that period of my life was a HELL OF A LOT easier than what i'm going through right now. For example: I had some **** luck and made a bad decision, hit a curb and now i'm paying $500 a month for a car that's sitting on jackstands in the garage, un-drivable. I have enough money to fix it or pay the payment, not both. In addition to that, i made poor choices, so I owe a grand more than the car's worth. SOOO just be careful, think before you jump and don't let it happen to you.
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couple things.......mid 6 figures is 150,000 bucks a year....am i missing something????
second......30k is wayyyyyyyyyyyyyyy too much. mine has most options and i paid 400 over invoice. i see some guys paying under invoice these days. mostly loaded.......$23,710 (and that includes tax and tags, i bought it in jersey)
3rd......you wanna finance 30k for 60 months...you're payments are gonna be closer to 600 with a 4% APR. and that's if you can get a fixed rate......if the economy gets better that number could go right back up to 7% in no time.
you should pay around 24K for that car if you get an 2003, make a 5000 downpayment and your monthly will be around 400...then you'll be a little better!!!
two things.......if you have the money and you wanna do it.......FOR GODS SAKE MORE POWER TO YA......DO IT UP!!!!!
just be ready to finance your life away....don't be too eager to get in debt.......i'm 25 and all of a sudden i have a 2001 jeep that i'm still paying for (crazy trail vehicle too) and now a WRX, god knows i wanna buy a house........jeesh........way to much. i find myself at the bank all the time signing papers now!!!
if you decide to do it.......make sure you shop around for the best price........if you're dealer won't sell it to you for 500 over invoice....look elsewhere........somebody will.......and it'll be worth driving a few hours to pick the car up. standard markup for subaru dealers is 500 over invoice, and in these times you can get them under that number!!!!!
best of luck!!!!! later, riggs
second......30k is wayyyyyyyyyyyyyyy too much. mine has most options and i paid 400 over invoice. i see some guys paying under invoice these days. mostly loaded.......$23,710 (and that includes tax and tags, i bought it in jersey)
3rd......you wanna finance 30k for 60 months...you're payments are gonna be closer to 600 with a 4% APR. and that's if you can get a fixed rate......if the economy gets better that number could go right back up to 7% in no time.
you should pay around 24K for that car if you get an 2003, make a 5000 downpayment and your monthly will be around 400...then you'll be a little better!!!
two things.......if you have the money and you wanna do it.......FOR GODS SAKE MORE POWER TO YA......DO IT UP!!!!!
just be ready to finance your life away....don't be too eager to get in debt.......i'm 25 and all of a sudden i have a 2001 jeep that i'm still paying for (crazy trail vehicle too) and now a WRX, god knows i wanna buy a house........jeesh........way to much. i find myself at the bank all the time signing papers now!!!
if you decide to do it.......make sure you shop around for the best price........if you're dealer won't sell it to you for 500 over invoice....look elsewhere........somebody will.......and it'll be worth driving a few hours to pick the car up. standard markup for subaru dealers is 500 over invoice, and in these times you can get them under that number!!!!!
best of luck!!!!! later, riggs
Last edited by jriggs; Mar 7, 2003 at 06:57 AM.
Registered User
Joined: Feb 2003
Posts: 37
From: Lancaster, OH
Car Info: 2005 WRX
I graduated a little over a year ago from college. Everything on campus was within walking distance, so I didn't have my car at school until senior year. I don't know where your going to school, but a lot of the cars at my university got banged up. People drive like crap, are drunk and really don't care. One time, I saw a guy park an SLK outside of a bar and people were spitting on it. So, just remember that when you take a new car to school.
I bought my WRX 4 months ago and I can't be happier. However, I would never have taken the car to college because it would have been trashed. Scratches, door dings, etc. happen. That's why everyone has ****ty cars in college.
I had a '91 MR2 Turbo during school. That car did me well and didn't cost much to own. Plus, it was quick. Not WRX quick, but close. I'd consider getting a decent car and then trading that in and putting a down payment on a WRX or STI when you live off-campus in a few years.
You won't even realize how much cash you'll blow at school. Drinks, late night Taco Bell runs, kegs, clothes, etc. You have to balance all that w/ paying on a car you may hardly drive.
good luck
I bought my WRX 4 months ago and I can't be happier. However, I would never have taken the car to college because it would have been trashed. Scratches, door dings, etc. happen. That's why everyone has ****ty cars in college.
I had a '91 MR2 Turbo during school. That car did me well and didn't cost much to own. Plus, it was quick. Not WRX quick, but close. I'd consider getting a decent car and then trading that in and putting a down payment on a WRX or STI when you live off-campus in a few years.
You won't even realize how much cash you'll blow at school. Drinks, late night Taco Bell runs, kegs, clothes, etc. You have to balance all that w/ paying on a car you may hardly drive.
good luck
Registered User
Joined: Feb 2003
Posts: 37
From: Lancaster, OH
Car Info: 2005 WRX
How do you plan to pay for the car during school? Are you going to work or take it out of savings? I knew a lot of people who had civics and paid on their cars during school. If your parents are giving you spending cash and all you are doing is paying the car payment then you should be able to swing it. When I was at school I always allotted myself about $1000 a quarter, but I never spent anywhere near that much. Where are you going to school? Beer and food were cheap at my school, but if you're in a big city that may not be the case.
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Okay, you are smarter than I was assuming.... Putting down that much is A LOT better than financing the entire thing. You know what they say, when you assume you make *** out of me... 
Anyways if you really have that much money to put down I would really advise you to still get a standard WRX or 2.5RS.
Anyways if you really have that much money to put down I would really advise you to still get a standard WRX or 2.5RS.
Registered User
Joined: Nov 2002
Posts: 179
From: somewhere in the U.S.
well...
not that I am undermining everyone else's opinions...but here is my story.
So far, you have enough money to put down on a car, whereby a 25K car after downpayment, etc. would cost you 250-300 a month. Obviously, you have done the math, saved the money, and seem to know what you are doing, in order to be at this point at such a young age.
As for my story, when I was in college, I bought a new car, and drove it for 10 months (put 26K miles on it)...sold it, and bought another new one right after that. I worked, went to school, ate, partied and enjoyed my college life. I lived on 6.25 an hour, and pretty much was able to pay rent, insurance, car pymt. food, gas, etc. etc. etc. I went to school in Amherst, and lived off campus in Sunderland...rent was $450 a month, shared by 3 people...hehe.
So in answer to your question, I proved to myself that I could do it, and I bet you can too.
Should you get the '04, well, possibly, but NO WAY should you be paying that price. Alongside that, you are making more than half of the downpayment up front...and that should be an incentive to the dealer, to give you a WAY better price...even under invoice, since they have less to pay off, when they sell you the car.
Work hard, put away 5K in a Certificate of Deposit for 5 years at any precentage rate, and put the rest down on the car. It will satisfy everyone's concerns...and you have a "backup" plan all the while, that is earning interest.
Later, hope it helped. Good luck with your car, whatever it may be.
i.
So far, you have enough money to put down on a car, whereby a 25K car after downpayment, etc. would cost you 250-300 a month. Obviously, you have done the math, saved the money, and seem to know what you are doing, in order to be at this point at such a young age.
As for my story, when I was in college, I bought a new car, and drove it for 10 months (put 26K miles on it)...sold it, and bought another new one right after that. I worked, went to school, ate, partied and enjoyed my college life. I lived on 6.25 an hour, and pretty much was able to pay rent, insurance, car pymt. food, gas, etc. etc. etc. I went to school in Amherst, and lived off campus in Sunderland...rent was $450 a month, shared by 3 people...hehe.
So in answer to your question, I proved to myself that I could do it, and I bet you can too.
Should you get the '04, well, possibly, but NO WAY should you be paying that price. Alongside that, you are making more than half of the downpayment up front...and that should be an incentive to the dealer, to give you a WAY better price...even under invoice, since they have less to pay off, when they sell you the car.
Work hard, put away 5K in a Certificate of Deposit for 5 years at any precentage rate, and put the rest down on the car. It will satisfy everyone's concerns...and you have a "backup" plan all the while, that is earning interest.
Later, hope it helped. Good luck with your car, whatever it may be.
i.