The right thing? Confused 18 year old.
03-06-2003, 09:52 AM
#1
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The right thing? Confused 18 year old.
I ordered a 2004 WRX the other day, and I'm not sure if im doing the right thing. I want a new car really bad and I had it narrowed down to the 04 WRX or STI. I chose the regular WRX because its a little cheaper, lower insurence, I wont have to wait as long to get it, and I will have more time to use it before I go to college. I'm turning 18 in a couple weeks and off to college in a few months(will not be using the car very much in college), my college is pretty much paid for, so the only thing I would have to pay is the monthly car payment. The dealer quoted me 30k for the 04 WRX based on 03 prices. I know I can put at least half that down. I figure im looking at 250-300 a month for 60 months which right now i can afford easily. What should i do?
1. Forget about getting a new car.
2. Just stick with the WRX.
3. Screw it and go for the STI.
Any input would be greatly appreciated.
1. Forget about getting a new car.
2. Just stick with the WRX.
3. Screw it and go for the STI.
Any input would be greatly appreciated.
03-06-2003, 10:02 AM
#2
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$30,000 for the WRX seems exrtremely high, supposedly the STI is going for that. The WRX should be in the low to mid 20's. Have you looked into the insurance costs too? Those should be extremely high for an 18 year old especially with the STI. Another thing that you might want to consider is the availability of the STI, not many coming over the 1st year and demand is going to be high. probably easier to get the WRX, with the money saved on that you can get performance stuff. just some other thoughts
03-06-2003, 10:21 AM
#3
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That 30k is with options tax title, insurence, ect. the dealer also said that the STI will be well over that. The STI i can get for sure cause my dealer is getting 10 by august and only 4 are spoken for. I would just have to wait a couple extra months. True I would have more money for performance stuff, but with the STI there is already enough car I wouldnt need performance stuff.
03-06-2003, 11:33 AM
#4
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Since you say that you won't be using the car much in college, I'd say screw it, save the money and get a decent used sporty car. Notice I said sporty and not sports, that way insurance will be cheaper, you'll use less gas, still have a car with some "go-power"
and decent looks and you'll have more 'ching in your pocket to take out the college honeys!
Then after college, worry about getting a brand new car!
Also even with all that included, 30k is a high price to pay for a WRX....Of course this is JMO
and decent looks and you'll have more 'ching in your pocket to take out the college honeys!
Then after college, worry about getting a brand new car!
Also even with all that included, 30k is a high price to pay for a WRX....Of course this is JMO
03-06-2003, 11:53 AM
#5
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First of all, if you ultimately decide on a WRX, tell the salesman who quoted you 30K to go eat a dick. There is no reason you should have to pay a dime over 25K for a very well-optioned WRX.
Second, you're talking about immediately tying up about 15 grand in a rapidly depreciating asset you say you won't even use much, and then gradually tying up even more money with monthly payments. That just doesn't make any financial sense. If you shop around you can get a decent fun-to-drive car in good shape for 10 grand clear or less, and it won't suffer as much depreciation in the years between now and when you get a chance to actually drive a car enough to justify spending 25 grand on it.
That's my .02
Second, you're talking about immediately tying up about 15 grand in a rapidly depreciating asset you say you won't even use much, and then gradually tying up even more money with monthly payments. That just doesn't make any financial sense. If you shop around you can get a decent fun-to-drive car in good shape for 10 grand clear or less, and it won't suffer as much depreciation in the years between now and when you get a chance to actually drive a car enough to justify spending 25 grand on it.
That's my .02
03-06-2003, 12:05 PM
#6
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Join Date: Feb 2003
Posts: 13
Why not just get a new 03 WRX? Other than the bug eyes and speedometer being in the center, it's pretty much the same car and you know they will be sold in the low 20's when the 04's come out. IMO the bug eyes look better. The new lights makes the WRX look like a Mustang. Not a bad thing if you actually like that sort of look.
03-06-2003, 12:27 PM
#7
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I'm going to say something that others hinted at but didn't outright mention.
Trust me, you don't want to have a 5 year note hanging over your head right when you turn 18. If you're going to be in college, save your money for other things related to it like living expenses - food, drink, fun, and other items that you at this point have no idea you need (trust me, I know) add up fast in the cost department. Who knows what your financial situation will be like when you get out of school. You need to realize that many kids get cut off when they get that 4 year piece of paper and if you're trying to come up with living expenses + $300+ a month it might be a little tough. Ever see those guys at the store buying 50 bags of top ramen because it costs like $.19? That could be you!
Besides, like other members have said, you can easily find a sporty car with good power and looks for a lot less if you go used. You can get a nice 97/98 Nissan 240sx for low book easy (I'm talking like $10k). You could finance that if you wanted, have low monthly payments, or pay it outright, have no payments and $5k in the bank with which to use smartly (IE: Money Market account or even a roth IRA).
Trust me, at 18 there is TONS of time to get the cool new car that you want and there will be many better times to buy it. Also, if you invest your money right and keep adding to your investment, that $5k could be as much as $20k when you get out of school. Then you can live like you want and buy that new car.
Whatever you choose, good luck and welcome to I-Club.
Trust me, you don't want to have a 5 year note hanging over your head right when you turn 18. If you're going to be in college, save your money for other things related to it like living expenses - food, drink, fun, and other items that you at this point have no idea you need (trust me, I know) add up fast in the cost department. Who knows what your financial situation will be like when you get out of school. You need to realize that many kids get cut off when they get that 4 year piece of paper and if you're trying to come up with living expenses + $300+ a month it might be a little tough. Ever see those guys at the store buying 50 bags of top ramen because it costs like $.19? That could be you!
Besides, like other members have said, you can easily find a sporty car with good power and looks for a lot less if you go used. You can get a nice 97/98 Nissan 240sx for low book easy (I'm talking like $10k). You could finance that if you wanted, have low monthly payments, or pay it outright, have no payments and $5k in the bank with which to use smartly (IE: Money Market account or even a roth IRA).
Trust me, at 18 there is TONS of time to get the cool new car that you want and there will be many better times to buy it. Also, if you invest your money right and keep adding to your investment, that $5k could be as much as $20k when you get out of school. Then you can live like you want and buy that new car.
Whatever you choose, good luck and welcome to I-Club.
03-06-2003, 12:30 PM
#8
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Join Date: Nov 2002
Location: http://www.winning-smiles.com
Posts: 1,330
Car Info: 2016 Red WRX
i think the 30K also includes interest due to the loan. on a 5 year plan, that sounds about right. (maybe a lil high.. but not much).
and yes, you're gonna need $ to live in college. u dont want it all to go to your car payment. You haveta save that $ for condoms, strip clubs, and indian casinos.
and yes, you're gonna need $ to live in college. u dont want it all to go to your car payment. You haveta save that $ for condoms, strip clubs, and indian casinos.
Last edited by HongKongBeef; 03-06-2003 at 12:32 PM.
03-06-2003, 02:09 PM
#11
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wow, thanks for the iput everyone. But what if my college is paid for my parents will give me spending money, and by the end of this summer I can easily pay off 2 years of the loan. I know i am sounding persistant about getting this car, but i really want it. Maybe im just bein stupid, so tell me if i am, thanks.
03-06-2003, 02:19 PM
#13
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Originally posted by 04WRX
wow, thanks for the iput everyone. But what if my college is paid for my parents will give me spending money, and by the end of this summer I can easily pay off 2 years of the loan. I know i am sounding persistant about getting this car, but i really want it. Maybe im just bein stupid, so tell me if i am, thanks.
wow, thanks for the iput everyone. But what if my college is paid for my parents will give me spending money, and by the end of this summer I can easily pay off 2 years of the loan. I know i am sounding persistant about getting this car, but i really want it. Maybe im just bein stupid, so tell me if i am, thanks.
). It really comes down to what you want to do. Just try and plan for the future. I wanted a WRX when they first came out around 2 years ago, but didn't want to pay the money and bought a cheaper car. Thankfully I did because if not I wouldn't have been able to buy a house. Then once I got in to the house, I bought the car.Just think ahead. If you really want the new car, get it. Just make sure you're happy and make the right decision for yourself.
03-06-2003, 04:11 PM
#15
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Join Date: Nov 2002
Location: Moraga, CA
Posts: 998
Car Info: 2016 CWP WRX
hey
like others have said, i would try to get a less expensive car, or make a better deal with the dealer.
you also stated you will pay more of it off because your parents pay for everything. i was once in those shoes, and trust me, you will want to spend the $$ elsewhere. i know it is hard to understand at your age, and it isnt what your gut tells you, but try to be conservative. Drover hit it on thenail head, it is a big liability that will depreciate REALLY quickly. look at 02 or even 03 prices on ebay on autotrader. the value of these cars is dropping like a rock. it just isnt a wise choice for an 18 yo.
i know it isnt what you want to hear, but someday you will thank us for the advice. ultimately it is your choice, but heed your elders advice and realize we have been there done that. some day you will be giving the same advice....trust me.....
josh
like others have said, i would try to get a less expensive car, or make a better deal with the dealer.
you also stated you will pay more of it off because your parents pay for everything. i was once in those shoes, and trust me, you will want to spend the $$ elsewhere. i know it is hard to understand at your age, and it isnt what your gut tells you, but try to be conservative. Drover hit it on thenail head, it is a big liability that will depreciate REALLY quickly. look at 02 or even 03 prices on ebay on autotrader. the value of these cars is dropping like a rock. it just isnt a wise choice for an 18 yo.
i know it isnt what you want to hear, but someday you will thank us for the advice. ultimately it is your choice, but heed your elders advice and realize we have been there done that. some day you will be giving the same advice....trust me.....
josh