As far as I know this kid has no idea what's ahead for him and I hate to see people (especially at his age) do something unwise with their money.

 

Ya bro, I'm going to talk to my next door neighbor, but I'm afraid that even though he may have good intentions I could still get stuck with a car that always gives me problems and then its a bottomless money pit. If I get a new car at least I know that its new. I'm not reckless, sure accidents can still happen but I'm not going to put myself in high risk situations...I'm looking to keep this car for a 8-10 years.

 

On a side note I was looking on the web, and I found a used car, but it says it has 6 reports to go with it...I'm assuming they say problems associated with the car but IDK because it won't let me read them unless I pay....So so you guys think 6 reports are bad, because I saw a nother one with 25 reports....idk??? :banghead

 

Reports could be anything from an accident to bodywork. My car has quite a few reports on it and it's still a helluva car. It has been in an accident but that doesn't really bother me. It could very well last me 8-10 years. Any car should last that long if you take care of it. Change the oil and air filters when you should and if notice anything unusual (a vibration or a noise) have someone look at it.

 

You don't need to be reckless to get in an accident. Getting t-boned at a stop light or rear ending somebody can happen in an instant if you're doing something distracting, even as simple as listening to the music.

 

I really and truly believe that a late 90's used Honda Civic or Accord are the way to go if you're looking at used cars.

 

BTW, I don't know if I asked but are you going to go to college after high school?

 

my car wont last me 8-10 years as long as i keep doing this job.

 

of course putting on a good 20k a year will do that.

A good car can last 200,000 miles. I'll never forget my first car, it was an old F-100 with 300,000 miles on it. Me and my dad took care of it, and that's all it takes.

2006 Subaru Impreza WRX.

A good car can last 200,000 miles. I'll never forget my first car, it was an old F-100 with 300,000 miles on it. Me and my dad took care of it, and that's all it takes.

 

 

i know a good car can last 200k miles.

 

 

still putting that many miles on a car in such a short period of time isnt exactly the most ideal thing.

Ya I'd either for go for a new Civic which could cost around 17k or a 90s civic which will be signifcantly less. They are reliable cars and you'll save a lot of money. Just make sure you take care of the car and it should last you until you have a quality job and a more steady income.

Hyundai Elantra.

10 year warranty.

Great car (unless, like me, you play crash test dummies with it)

If you're tight on cash, leasing a car is always an option.

 

The money does you better invested, even in a money market account than it does sitting in a depreciating asset such as a mid-grade car.

 

Unless you're jumping into the super high end sports cars like the Mercedes SL or the plethora of English or Italian imports, cars aren't exactly a smart investment.

 

Personally, I think that there's more to gain from getting a used car from a reputable dealer than there is from getting a brand new car, as the rapid depreciation of a new car is startling.

 

Think about it, if you buy a car used for $20,000 in 2 months (if necessary), you could sell it for reasonably around $20,000 whereas a new car bought at $20,000 would likely be impossible to move at the "sticker price."

 

Just something to think about.

If you're tight on cash, leasing a car is always an option.

 

The money does you better invested, even in a money market account than it does sitting in a depreciating asset such as a mid-grade car.

 

Unless you're jumping into the super high end sports cars like the Mercedes SL or the plethora of English or Italian imports, cars aren't exactly a smart investment.

 

Personally, I think that there's more to gain from getting a used car from a reputable dealer than there is from getting a brand new car, as the rapid depreciation of a new car is startling.

 

Think about it, if you buy a car used for $20,000 in 2 months (if necessary), you could sell it for reasonably around $20,000 whereas a new car bought at $20,000 would likely be impossible to move at the "sticker price."

 

Just something to think about.

 

 

what can i say?

 

i like new cars, considering i drive as much as i do, i like to get my car with exactly what i want on it.

 

for me i dont buy a car to sell it in a few months anyway. :lol so the depreciation thing wont mean a damn thing to me.

If you're tight on cash, leasing a car is always an option.

 

The money does you better invested, even in a money market account than it does sitting in a depreciating asset such as a mid-grade car.

 

Unless you're jumping into the super high end sports cars like the Mercedes SL or the plethora of English or Italian imports, cars aren't exactly a smart investment.

 

Personally, I think that there's more to gain from getting a used car from a reputable dealer than there is from getting a brand new car, as the rapid depreciation of a new car is startling.

 

Think about it, if you buy a car used for $20,000 in 2 months (if necessary), you could sell it for reasonably around $20,000 whereas a new car bought at $20,000 would likely be impossible to move at the "sticker price."

 

Just something to think about.

 

 

what can i say?

 

i like new cars, considering i drive as much as i do, i like to get my car with exactly what i want on it.

 

for me i dont buy a car to sell it in a few months anyway. :lol so the depreciation thing wont mean a damn thing to me.

exactly a si have said before i would like to keep the car for 10 years.......if i get a used car and it gives me probs then im royally screwed....but ill keep it in the back of my mind...i mean maybe that one used car comes around i like everything about it and it gives me no probs :pray

If you're tight on cash, leasing a car is always an option.

 

The money does you better invested, even in a money market account than it does sitting in a depreciating asset such as a mid-grade car.

 

Unless you're jumping into the super high end sports cars like the Mercedes SL or the plethora of English or Italian imports, cars aren't exactly a smart investment.

 

Personally, I think that there's more to gain from getting a used car from a reputable dealer than there is from getting a brand new car, as the rapid depreciation of a new car is startling.

 

Think about it, if you buy a car used for $20,000 in 2 months (if necessary), you could sell it for reasonably around $20,000 whereas a new car bought at $20,000 would likely be impossible to move at the "sticker price."

 

Just something to think about.

 

 

what can i say?

 

i like new cars, considering i drive as much as i do, i like to get my car with exactly what i want on it.

 

for me i dont buy a car to sell it in a few months anyway. :lol so the depreciation thing wont mean a damn thing to me.

exactly a si have said before i would like to keep the car for 10 years.......if i get a used car and it gives me probs then im royally screwed....but ill keep it in the back of my mind...i mean maybe that one used car comes around i like everything about it and it gives me no probs :pray

 

it depends on how much you are going to drive it also.

 

a nearly new car can be a great deal in many instances as well.

 

but few people truly keep a car for 10 years anyway.

I'll tell you what, I bought a 96 Saturn SC2 in January of 1998 with 24,000 miles on it for $9000. It now has over 140K and all I've done is change the oil, replace the air filters, and swap out a couple of sets of tires. I had $20K to put down on a car but I decided to listen to my brother [a financial planner] and go with the used car.

 

FYI - I put $11K into my etrade account and split that money equally in Dell and Microsoft. Dell split three times and MSFT split twice.

 

I paid off my student loans, bought a time-share in Hawaii, and put a down payment on a two-family house that has since increased in value by over 55%, allowing me to purchase a second two family house. Basically, that $11K has translated into almost 1/2 million $ in assets.

 

I have a friend who has always driven nice cars and makes more money than me but he still owes on his student loans and still rents. Think about that for a little while...

I'll tell you what, I bought a 96 Saturn SC2 in January of 1998 with 24,000 miles on it for $9000. It now has over 140K and all I've done is change the oil, replace the air filters, and swap out a couple of sets of tires. I had $20K to put down on a car but I decided to listen to my brother [a financial planner] and go with the used car.

 

FYI - I put $11K into my etrade account and split that money equally in Dell and Microsoft. Dell split three times and MSFT split twice.

 

I paid off my student loans, bought a time-share in Hawaii, and put a down payment on a two-family house that has since increased in value by over 55%, allowing me to purchase a second two family house. Basically, that $11K has translated into almost 1/2 million $ in assets.

 

I have a friend who has always driven nice cars and makes more money than me but he still owes on his student loans and still rents. Think about that for a little while...

 

 

This is the right idea.

 

Don't go for instant gratification, go for long term financial success.

I love my new Suzuki Grand Vitara.

 

V6 - 24MPG is what I get with mixed driving

No need to spend 20k on a car when you are going to college. Cars take a beating at college between kids looking for parking, long rides home and everything in between your TL will deprectiate very fast. I would consider what yankeefan said and maybe split that 20k in half invest and buy a cheaper car that you wont have to worry so much about.

Cars take a beating at college...

Also a very good point. Cars are constantly being hit, broken into, and vandalized just in the parking lot. Now imagine driving your drunk friends' butts back home and they vomit. My POS 86 Subaru GL [i got it for like $500] got hit in the parking lot THREE TIMES! I was also hit by a drunk [actually - hung-over] driver in that car as well as a school snow plow.

 

You'll also probably end up in a dorm and there may be parking issues for freshmen [some colleges don't allow freshman cars]. You could also end up living in student ghettos with no parking and end up parking in the street under sappy trees and dirty birds with drunk people bouncing off your car as they walk by.