First Car Notion?
03-24-2008, 05:57 PM
#27
Registered User
Thread Starter
Join Date: Mar 2008
Location: San Diego, CA
Posts: 20
Likes: 0
Received 0 Likes
on
0 Posts
I'm going to chime in only because no one else has said this: invest your money in the stock market instead of in a car. If you have $18k in cash right now and you invested it until you got out of college you'd be amazed at how much money you'd have earned in the meantime.
My dad could have bought his dream car, an Aston Martin DBS, with the money he has lost in the stock market, due to the recession. Of course, the stock market is the best way to invest your money on any good day, but I doubt we'll see one of those days for awhile.
My parents have always told me that if I worked hard and were able to enroll in an Eastern school, they'd find a way to get me there. Im still going to have to pay some big student loans, but if I manage to get my MBA from Dartmouth, I won't have to worry constantly about what I owe for school.
We checked insurance, and in part to the fact it has 4 doors and excellent safety ratings, it wouldn't be all that much really, even for a first driver.
03-24-2008, 10:10 PM
#28
Mine is on my 52 year old dad's insurance w/ a perfect record and it is $800 a year and still our most expensive car to insure. I imagine you were quoted in excess of $1200 a year?
Stay on the West side for school anyways, the East is overrated, jk.
Stay on the West side for school anyways, the East is overrated, jk.
Last edited by fahrfegneugen; 03-24-2008 at 10:13 PM.
03-24-2008, 10:18 PM
#30
03-24-2008, 10:37 PM
#34
Registered User
Join Date: Aug 2007
Location: LA
Posts: 26
Likes: 0
Received 0 Likes
on
0 Posts
The sensible thing to do would be save your money and spend it on something that will appreciate instead of depreciate...
I never use car and sensible in the same sentence... $18K will get you a nice low mileage 2005 GT with change for insurance. Sounds like a plan!
I never use car and sensible in the same sentence... $18K will get you a nice low mileage 2005 GT with change for insurance. Sounds like a plan!
03-25-2008, 12:36 AM
#36
Registered User
Thread Starter
Join Date: Mar 2008
Location: San Diego, CA
Posts: 20
Likes: 0
Received 0 Likes
on
0 Posts
Insurance wasn't good per se, but wasn't bad either. If anything, gasoline is going to be the royal pain, since my parents might be taking up the majority of insurance costs, which already would only be around $90 a month. I hear this car doesn't live to it's MPG standards, and 16 mpg on highway is pretty bad when Premium is $3.75 in So Cal. Overall, the only worries I have are dings and dents, and an expensive gasoline tab.
03-25-2008, 12:56 AM
#37
East may very well be overrated, now that the UC schools are topping the charts now. It's just when you can get $143,000 starting pay with an MBA from Ivy League, you get some pretty intense tunnel vision.
Insurance wasn't good per se, but wasn't bad either. If anything, gasoline is going to be the royal pain, since my parents might be taking up the majority of insurance costs, which already would only be around $90 a month. I hear this car doesn't live to it's MPG standards, and 16 mpg on highway is pretty bad when Premium is $3.75 in So Cal. Overall, the only worries I have are dings and dents, and an expensive gasoline tab.
Insurance wasn't good per se, but wasn't bad either. If anything, gasoline is going to be the royal pain, since my parents might be taking up the majority of insurance costs, which already would only be around $90 a month. I hear this car doesn't live to it's MPG standards, and 16 mpg on highway is pretty bad when Premium is $3.75 in So Cal. Overall, the only worries I have are dings and dents, and an expensive gasoline tab.
If you go Ivy league, then you better be prepared to have school be your whole life and if you want an MBA, that is five to six years of dedication to that. 140k would be nice however... I assume you already go to a private school though?
03-25-2008, 01:08 AM
#38
Registered User
Thread Starter
Join Date: Mar 2008
Location: San Diego, CA
Posts: 20
Likes: 0
Received 0 Likes
on
0 Posts
I was thinking about Washington State schools, heck even a few in Oregon
If you go Ivy league, then you better be prepared to have school be your whole life and if you want an MBA, that is five to six years of dedication to that. 140k would be nice however... I assume you already go to a private school though?
If you go Ivy league, then you better be prepared to have school be your whole life and if you want an MBA, that is five to six years of dedication to that. 140k would be nice however... I assume you already go to a private school though?
Thankfully, no. Uniforms, Arrogant personalities, and 325i's are mandatory at the ones by us. My school is pretty ghetto, yet all the seniors have nice cars for some reason. Well, atleast that, or those god forsaken jacked up trucks.
Dartmouth offers a 5 year duel-major program. In which I want to go with Engineering and the Business Administration. Dartmouth is a hard school, no question there, but it's not all work and no play. My old man has plenty of stories to share about his time there when he's playing poker with us.
Last edited by Desert Fox; 03-25-2008 at 01:14 AM.
03-25-2008, 08:55 AM
#39
My dad could have bought his dream car, an Aston Martin DBS, with the money he has lost in the stock market, due to the recession. Of course, the stock market is the best way to invest your money on any good day, but I doubt we'll see one of those days for awhile.
My parents have always told me that if I worked hard and were able to enroll in an Eastern school, they'd find a way to get me there. Im still going to have to pay some big student loans, but if I manage to get my MBA from Dartmouth, I won't have to worry constantly about what I owe for school.
We checked insurance, and in part to the fact it has 4 doors and excellent safety ratings, it wouldn't be all that much really, even for a first driver.
My parents have always told me that if I worked hard and were able to enroll in an Eastern school, they'd find a way to get me there. Im still going to have to pay some big student loans, but if I manage to get my MBA from Dartmouth, I won't have to worry constantly about what I owe for school.
We checked insurance, and in part to the fact it has 4 doors and excellent safety ratings, it wouldn't be all that much really, even for a first driver.
http://finance.yahoo.com/q/bc?s=%5EDJI&t=my
and tell me that stocks aren't a good investment over the long term.
03-25-2008, 09:21 AM
#40
Registered User
Join Date: Jul 2007
Posts: 34
Likes: 0
Received 0 Likes
on
0 Posts
as mentioned above you seem very mature for your age. It's not that your liable to wreck your car, But there are alot of **** poor drivers out there that might hurt your 8. Buy a beater and save your money for school. If you can get out of school debt free (or close to it) you'll be better off. On the other hand if the car won't stretch you too thin finacially, get the car. You'll love it.
03-26-2008, 01:04 AM
#41
Engineering alone takes most people 5 years from what I know, I wonder how they do that with a Business too. What kind of engineering are you thinking of though?
03-26-2008, 01:22 AM
#42
One Shot One Kill
ya.. a shameful 5 year mech e here.. but i did goof around and took other classes too.
do the engineering route to business, those program are nice (hard though)
do not do chem E as u will not survive business + chem e
do the engineering route to business, those program are nice (hard though)
do not do chem E as u will not survive business + chem e
03-27-2008, 11:47 PM
#43
Registered User
Thread Starter
Join Date: Mar 2008
Location: San Diego, CA
Posts: 20
Likes: 0
Received 0 Likes
on
0 Posts
I just wanted to thank everyone for the advice they have given me the past week.
I have fallen in love with this car, and I have decided to buy one regardless of the MPG issue.
It is just possibly the most beautiful car I have ever seen, and among the most unique automobiles on the road. It has legendary handling, and rather remarkable power as well.
I have worked very hard for this money, and in this case I must do what my heart wants me to do. I have the rest of my life to make money, so I might as well enjoy life to the fullest now.
Im still debating on whether to get Red or Grey, either of which would the 04' GT model. I suppose the only real question I have left on the car is on how well the Navgation works. Is it worth the extra $1000 on a used car?
I have fallen in love with this car, and I have decided to buy one regardless of the MPG issue.
It is just possibly the most beautiful car I have ever seen, and among the most unique automobiles on the road. It has legendary handling, and rather remarkable power as well.
I have worked very hard for this money, and in this case I must do what my heart wants me to do. I have the rest of my life to make money, so I might as well enjoy life to the fullest now.
Im still debating on whether to get Red or Grey, either of which would the 04' GT model. I suppose the only real question I have left on the car is on how well the Navgation works. Is it worth the extra $1000 on a used car?
03-28-2008, 09:24 AM
#44
I don't have one, but from what most people out there say it doesn't sound like it's worth it. Depends on how important the stock look is to you. Aftermarket navs are going to have many more features and more up to date information. I've read some people on here saying that they live in a newer developed area and the maps are totally wrong. Food for thought anyway.
03-28-2008, 12:28 PM
#45
Blue By You
Join Date: Jun 2003
Location: Milwaukee
Posts: 8,717
Likes: 0
Received 0 Likes
on
0 Posts
New rule... If you still use fractions to tell people your age, you shouldn't be allowed to drive. On the bright side, getting a nice car might give him a shot at getting laid before the age of 25.
Sorry little guy, just a little newbie hazzing...
Sorry little guy, just a little newbie hazzing...
03-28-2008, 12:47 PM
#48
Registered RX-8 User
Join Date: Nov 2007
Location: PA/MD
Posts: 718
Likes: 0
Received 0 Likes
on
0 Posts
Speaking for school,
Penn State has a great engr program and then a really good business masters program a lot of engrs look at doing here.
Speaking for 8,
It was my first car (i was 21 tho), first rwd, first non suv/truck our fam owned, and first sports car...I have not had 1 problem yet. If you are responsible and you sound that there is no reason this car is not for you, you want it and have money go for it. Just remember you will want spending money in college and a car takes away from that (going out, partying, etc). I got mine right before my senior year, so I only need to worry about it this year and not over the 4. Its also good for school because I can fit almost all of my stuff in it except for a tv.
You sound smart, responsible, and have the money so go for it, also the cloth seats are great as imput1234 said, jsut make sure you get dsc/tcs.
Penn State has a great engr program and then a really good business masters program a lot of engrs look at doing here.
Speaking for 8,
It was my first car (i was 21 tho), first rwd, first non suv/truck our fam owned, and first sports car...I have not had 1 problem yet. If you are responsible and you sound that there is no reason this car is not for you, you want it and have money go for it. Just remember you will want spending money in college and a car takes away from that (going out, partying, etc). I got mine right before my senior year, so I only need to worry about it this year and not over the 4. Its also good for school because I can fit almost all of my stuff in it except for a tv.
You sound smart, responsible, and have the money so go for it, also the cloth seats are great as imput1234 said, jsut make sure you get dsc/tcs.
03-28-2008, 12:51 PM
#49
The Beast
Join Date: Aug 2007
Location: OK
Posts: 119
Likes: 0
Received 0 Likes
on
0 Posts
I got the car after my first semester in college. 18 years old. It seemed like the right time. I drove an old Honda accord from 16 up till then. I suggest waiting till you graduate highschool or at least last semester senior year. Its hard to keep a car looking nice in a high school parking lot. And about not getting one till
after college. It all depends on circumstances, I got mine after
the first semester. I don't drive it often because its unecessary (I just walk) but I love driving it when I do go somewhere needed. Basically its all dependent on if you think you can keep maintainence up and keep yourself and others safe.
Sorry for mistypes and such I'm typing from my phone.
after college. It all depends on circumstances, I got mine after
the first semester. I don't drive it often because its unecessary (I just walk) but I love driving it when I do go somewhere needed. Basically its all dependent on if you think you can keep maintainence up and keep yourself and others safe.
Sorry for mistypes and such I'm typing from my phone.
