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Looking to buy a used vehicle. advice needed
Posted on 10/4/12 at 6:26 pm
Posted on 10/4/12 at 6:26 pm
Not looking for anything more than 18k. I'm a college student who only makes 800/month. I'm looking to trade in my '05 malibu plus put $2000 down. What are some vehicles to look at for a 20 yr old male in 18k price range? Something sporty preferably. I was looking at a 2010 camaro but its 22k and the car insurance payments might do me in. Anyone could tell me how long i would have to wait before this price might come down? I'm a rookie when it comes to car buying. Thanks in advance for any suggestions or advice
6
Posted on 10/4/12 at 6:48 pm to realtalk
quote:
any suggestions or advice
Don't get a new car. It's the dumbest decision you could make right now. $800 a month barely pays your monthly bills and rent.
Posted on 10/4/12 at 7:04 pm to wegotdatwood
Oh i live with my parents. I only have a cell bill and car insurance
Posted on 10/4/12 at 7:25 pm to realtalk
pay cash
Posted on 10/4/12 at 7:29 pm to realtalk
quote:
Oh i live with my parents. I only have a cell bill and car insurance
Still, you're car is only 7 years old. You're in college and you should drive that thing until you have a real job for a couple years.
Posted on 10/4/12 at 8:12 pm to realtalk
I would keep what you have, but if you think you need something else, now is not the time to go crazy and get into a sports car.
Just go look for a 3 or 4 year old Camry or Accord to get you around for the next 5 years.
Just go look for a 3 or 4 year old Camry or Accord to get you around for the next 5 years.
Posted on 10/4/12 at 8:28 pm to realtalk
quote:
Looking to buy a used vehicle. advice needed
quote:
I'm a college student who only makes 800/month.
quote:
I'm looking to trade in my '05 malibu plus put $2000 down
What is wrong with your Malibu? Why are you looking to trade it in?
Short answer, if you only make $800 per month, you shouldn't be looking at ANY vehicle unless you can pay cash for it.
Posted on 10/4/12 at 9:55 pm to Will Cover
quote:
Short answer, if you only make $800 per month, you shouldn't be looking at ANY vehicle
Even if he could buy it for cash, no point. Your insurance will shoot through the roof compared to what you're paying now.
Posted on 10/5/12 at 7:17 am to wegotdatwood
why do you want ot get rid of a 05 model car? Does it not meet your needs any longer? Is it a lemon?
hell its 10 years newer than my car and I just started shopping models planning to replace in the next year or two - and pay cash for whatever it is.
you with no bills and a newer car, there is no reason to have a car payment.
hell its 10 years newer than my car and I just started shopping models planning to replace in the next year or two - and pay cash for whatever it is.
you with no bills and a newer car, there is no reason to have a car payment.
Posted on 10/5/12 at 7:24 am to realtalk
Yeah, what everybody else said above is pretty accurate. Keep your '05 if it does not have any major problems. Do not take on a note just because you want something new and think you can afford it. Take that $200 a month plus insurance increase and save it...that way you will have a good chunk of change for when you NEED to buy a new one a few years down the line.
Besides, it will be insanely tough for you to get financed if you are the only borrower on the loan. Alot of financial institutions require a minimum of $1700/month income. Less reputable financial institutions might do it but then your interest rate will be much higher than it should be.
Besides, it will be insanely tough for you to get financed if you are the only borrower on the loan. Alot of financial institutions require a minimum of $1700/month income. Less reputable financial institutions might do it but then your interest rate will be much higher than it should be.
Posted on 10/5/12 at 8:26 am to realtalk
This isn't the board to ask this question. Most here apparently don't care about the kind of car they drive since cars depreciate in value.
I personally care about what I drive, so I just bought a new F150 FX2. Yes it was expensive and I didn't pay cash, but I can keep this thing for 10 years at least and know that it's been maintained and never abused. That peace of mind of worth a car note. Plus I busted my arse in school to become an engineer, I'm not driving around in a Camry.
Can't say I blame you for wanting out of a Malibu. In your Price range, I'd look at 2010 Mustang GT or 2007 up Infiniti G37 coupes.
I personally care about what I drive, so I just bought a new F150 FX2. Yes it was expensive and I didn't pay cash, but I can keep this thing for 10 years at least and know that it's been maintained and never abused. That peace of mind of worth a car note. Plus I busted my arse in school to become an engineer, I'm not driving around in a Camry.
Can't say I blame you for wanting out of a Malibu. In your Price range, I'd look at 2010 Mustang GT or 2007 up Infiniti G37 coupes.
This post was edited on 10/5/12 at 8:32 am
Posted on 10/5/12 at 2:04 pm to realtalk
Keep driving the Malibu. Use the money you save to take road trips/travel. When you get a real job after graduation, you can get a nicer car.
Posted on 10/5/12 at 2:19 pm to LNCHBOX
quote:
This isn't the board to ask this question. Most here apparently don't care about the kind of car they drive since cars depreciate in value.
he needs to go to the OT with this question
they'll talk him up to a $70k Yukon in no time.
Posted on 10/6/12 at 9:28 pm to LNCHBOX
quote:problem is, that price range is way skewed. nobody making $9,600/yr has any business financing an $18K car.
In your Price range,
I do care about what I drive, it's just not worth the extra money to me to buy new. Ten years ago I bought a four year old F150 that looked and ran like new. Today it is still going strong and still looks good. And - I paid less than half of the cost of a new one, about a third actually. Personally I get more peace of mind from not having that monthly obligated payment for 5 years. But that is just me - I know people like you who like the feeling of knowing that no one else has driven the car, they know it's history, it's service record, it has warranty, etc. Different comfort levels for different people.
Congrats on the new F150 though - my co-worker bought one a couple of months ago and I will say that is one really nice ride.
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