Worried...
02-24-2003, 01:52 PM
#46
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This car will get trashed at college.. you are making a huge mistake! You have no idea what you are talking about. The last thing you want to do in college is worry about a car payment or any payment. But what would we know.. we only went through it.
You are going to sell it and make some money off it?? What kind of mystical car are you buying? Save your money and buy a house or condo when you get out of school. You will save THOUSANDS of dollars then and have a HUGE leg up on others your age. I understand you won't listen, but it will be the best investment in your life.
You are going to sell it and make some money off it?? What kind of mystical car are you buying? Save your money and buy a house or condo when you get out of school. You will save THOUSANDS of dollars then and have a HUGE leg up on others your age. I understand you won't listen, but it will be the best investment in your life.
Last edited by Dr. Zevil; 02-24-2003 at 01:55 PM.
02-24-2003, 02:17 PM
#47
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Well if you think about it,
500/month payment
500*12=6000 Payments made after a year of ownership
6000*4=24000 Payments made after 4 year ownership
18000- price of STi after 4 years
Buy out rest of loan when sell the car giving me 12000 when car is sold.
So even if I save my money, or work during the school year and buy the car I am not loosing all that much in my mind. To make payments I wont even need to work during the school year. All io need to work for during the year is insurance and other things.
500/month payment
500*12=6000 Payments made after a year of ownership
6000*4=24000 Payments made after 4 year ownership
18000- price of STi after 4 years
Buy out rest of loan when sell the car giving me 12000 when car is sold.
So even if I save my money, or work during the school year and buy the car I am not loosing all that much in my mind. To make payments I wont even need to work during the school year. All io need to work for during the year is insurance and other things.
02-24-2003, 03:04 PM
#48
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It doesn't work that way.. you will NEVER make money from an auto. How much are you planning on putting down?
02-24-2003, 03:05 PM
#49
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So you lost half your $24K over 4 years..? Oh wait, and if you think you are getting an STi out the door tax, title and liscense for $30K, then you may need to lay off the glue sniffing.
02-24-2003, 03:06 PM
#50
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Im putting down 7000. Plus when I purchase the car I cant pay for taxes or tags. Reason is that I would be purchasing from florida. So im goin to wave some money to pay for taxes from work.
Last edited by HunterKiller; 02-24-2003 at 03:16 PM.
02-24-2003, 03:24 PM
#51
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Originally posted by HunterKiller
Im putting down 7000
Im putting down 7000
You can pay $500 a month, then that's better even. Now if you get rid of it for $18,000 after four years, you will have to probably pay off another $4,000ish at least which will be left on the loan. You will have $14,000ish in your pocket after you have already sunk in $31,000 ($7,000 down + $24,000 in payments)...
Does that seem like a good investment in college? I am checking my math just to make sure I didn't make too many mistakes. To each thier own, but money at your age can be spent WAY better.
Oh yeah, I forgot to add sales tax.. but I don't know how that applies to you.
02-24-2003, 03:28 PM
#52
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I hope you don't take anything that I am saying personally, I am just trying to keep you as informed as possible!
02-24-2003, 03:49 PM
#54
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I know I am very informed and you have given me alot of good advice. Its not that I am not going to listen as you said above. I guess the real question to ask myself is, Do I want to save my money and save for a down payment on a house, or Do I want work a bit and buy the car of my dreams. Which hopefully I will be able to buy by working after college.
02-24-2003, 04:18 PM
#55
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To unregistered
Start putting money in an IRA at this age. Buy only what you need, not necessarily what you want. Get a good education, then get a job that you love, work on developing marketable skills that set you apart from others in the same field, and offer the best value to those you serve (be it your employer, customers, or whatever). That'll start you on your way. With finances, as with so many other situations in life, you have a choice between discipline and regret. Hope you choose wisely.
02-24-2003, 04:31 PM
#57
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I will have about $19,000 to put down and I am thinking about skipping it! But like you said, I would rather have the car and live with the regret (while doing 0-60 in the sub 5's) 
02-24-2003, 04:49 PM
#58
well, think about it this way hunterkiller, the STi may be the car of your dreams, however, as i was telling oppie1, this is just the beginning. there will be something better and better. as a matter of fact, there are much better things out there right now in terms of cars. it's just a matter of what you want. and also, as someone has mentioned, you don't really want to buy a first production car for such a steep price, it's not really worth it. the market is still growing. look, we've just got the EVO and the STi and look what direction it's headed. trust me, there will be many better things to come. save your money, in any way possible and later, when you have the dough to spend, buy a skyline or something if you want a "dream car", or even a porsche. i'm sure if you save wisely, even make profits here and there, why buy something that everybody can afford, get something everybody can't afford, although the STi is very tempting. just don't put yourself in debt. also, when you're young, it's the best time to look for ways to make money, rather than spend it.
02-24-2003, 04:49 PM
#59
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I dont know what I want to do. Which is still why I am going to put down a deposit ill then work from there. Because if I do decide to I dont want to be in trouble when the car comes out and pay jacked up prices.
Is that stupid also?
Is that stupid also?
Last edited by HunterKiller; 02-24-2003 at 05:11 PM.
02-24-2003, 06:18 PM
#60
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Originally posted by HunterKiller
I dont know what I want to do. Which is still why I am going to put down a deposit ill then work from there. Because if I do decide to I dont want to be in trouble when the car comes out and pay jacked up prices.
Is that stupid also?
I dont know what I want to do. Which is still why I am going to put down a deposit ill then work from there. Because if I do decide to I dont want to be in trouble when the car comes out and pay jacked up prices.
Is that stupid also?
:P