Okay, here i stand with a question of which i am so undecisive about. Here is my situation: I am 17 years old, going into my Senior year in high school. I currently own a 2002 Dodge Intrepid, which I bought in March 2003. Throughout this past summer, I have been carefully researching the RX-8. My job status is very strong. Currently an assistant manager at a very popular theater, I have earned a decent amount of money. Most everything that I own, I have bought. I am not spoiled. I work for what I get. Now here I stand with a dying question: Should I keep the Intrepid or buy the RX-8? If I were to keep the Intrepid, I would be left with a sweet amount of money, near $15,000 and growing. If I were to buy the RX-8, I would have to sell the Intrepid for $8000-$10000, and wait for about 2 more months until I have enough money to buy the 8. Unfortunately, that would leave me broke, but I would be left with the car of my dreams, which is very much worth it. Anyways, college is not a factor for me. It is already being paid for by a lot of scholarships and a seperate college savings account. I am really stuck with this question, continuously ringing in the back of my head every second. PLEASE HELP!

 

I take it then that you are going to college. Good for you! If you are going anywhere away from home, the storage space for driving stuff to and from college would be a definite benefit of the Intrepid. The eight holds very little, and when I was incollege I had a VW Jetta sedan which I was constantly filling to the gills with things and people and driving around.

Second, and I know that this sounds lame, but you're young guy. 15K bucks could come in pretty damn handy in college. Remember that scholarships do not cover incidentals like books and food and books are incredibly not cheap. When I was in college, fifteen years ago, books were between 300 and 500 dollars a semester. I'm sure that they are more now so it might be best ot be practical and think about what that money can do for you with food, housing, and necessities. That's my two cents. Best of luck.

 

You don't have to pay for the RX-8 in full cash. If you sell the intrepid for $10,000, that leaves you with 25K. Put $18,000-20,000 in down payment, and get a 24 month loan. Your payments shouldn't be too much to handle if you're making decent money. (plus you got money in the bank if you lose your job, or what not)

That way you still got $5,000-7,000 in the bank just in case. And you can put away most of the money you make. :o

 

Leave the Rx-8 until after school. I currently own a Rx8 and a 99 Jeep. I am also enrolled in college (though it is as a grad student). I would HATE driving my Rx8 to school! It is not a pleasant experience for a car being on campus.......no one has the pride you will have in a new car and they will not worry about the huge dents they leave in your car as they park next to you.........not to mention the bird sh@t!

When you finish with school get a Rx8. If it were me and I could get 8K for a Dodge, I would take it, buy a cheap Honda and bank the $$$$. When you get done with school you can buy what you want.

NO ONE CARES ABOUT A NEW CAR IN COLLEGE LIKE YOU WILL, therefore, wait until you are done!

Just my 2cents!

 

If you can afford the payments, insurance, gas, and still afford everything else you need, get the 8.
But if you're going to be scraping by, paycheck to paycheck, wait awhile. It would really suck to have a nice car, but not having enough to get gas or take your honey out on the town.
I made the mistake of getting too much car when I was 17 (new 86 Trans-Am). In the end, I had to sell the thing. Insurance and gas were killing me and I was always broke.

 

Wait til you're done with school - I will agree with previous posters and say that on a college campus, your car will get no respect. Hell, I don't even have a nice car, and I lost my passenger side mirror to a drunkard. I once walked outside to find a nice big dent in my rear quarter panel, along with a muddy footprint. Save the cash, get the 8 after college.

 

Actually, that reminds me. I had a guy kick the quarter panel of my car in when I was in college, and he did it on purpose. I don't know why he did it, but it made a huge dent. The saddest let down about college, is how stupid other people on campus can be.

Oh yeah, I also got hit by a drunk, which happens as much as one would think in college.

 

While I agree that a beater car can be a safe choice for a college student, I also remember my head swiveling at the cool cars other kids had when I was in school. And there's no denying the swivel-factor of the 8 - - on-campus or off. If you can balance work, classes and payments, why not go ahead and get the car? They sure won't be getting any cheaper as time goes on, and life has a funny way of changing your plans.

 

I just graduated college last year, and I am pretty glad I had a 92 Saturn coupe to drive back then, and not a badass car like the 8. You will regret getting it more than once when you figure in the heartache of scratches, dents, and just people looking at your car wrong. You'll not have a moment's peace, trust me - I'm going through it now just driving to the mall!. Plus it will leave you financially crippled for your entire college career. You have a nice ride now, stay strong and wait 'til after school. You will have many cool cars in your life, just wait for the first one a few years.

-arattle

 

I agree with everyone else that you should wait until after college to get the car and the reason is exactly the same as TCHPET2. Instead, I would use the amount money you have toward school....or put it in your saving account or invest it.

 

i waited till after college and i must say im happy with the results (not many cool cars in 99 anyway) its definitely worth it, and it feels like a reward for a job well done. If you are on campus you wont driving much anyway, consider it in a few years when you can live at an off campus house hopefully with a garage...

 

I'm kind of in the same position, except I don't own the car I drive, and I'm currently at college. I have considered throwing down the money and trying to finance an '8, but when it comes down to it, I've arrived to the same conclusion as the people above. I actually go a little out of my way to and from work each day to oggle the 8s at the Mazda dealership, but I know it's for the best if I wait until I'm done college before I make such a big investment. Besides, you have a relatively new ride that sounds like it functions the way it is supposed to, and probably gets better mileage than the 8. I would suggest banking the money, and don't let it burn a hole in your pocket. Besides, it's always nice to not have to go from paycheck to paycheck. The time will go by quicker than you realize anyway. I'm less than 3 years away, and about to start sophmore year. It's scary...already a 1/4 of the way through college. Savor it man, it's going to fly. You don't need the 8 to attract even more of your time .

 

I would say stick with your current car....

HOWEVER

If you can get a loan in your own name (which means a sizable down payment), you may want to consider taking this route as it will be a huge positive for your credit score.

Do not buy the RX-8 in cash, it will not help you at all with your credit score. When I was in my early 20's, I bought my first two cars in cash, had close to a 6 figure salary, rented a 1800/mo condo, paid all my bills, but didn't have any credit. I thought it would eventually fall in my lap because I was doing well financially... it doesn't work that way and I wasted about 3-4 years that could have been building up my credit.

You don't get credit until someone gives it to you. A decent downpayment on a car will give them reason to lend you money because you lower the risk they take. The longer you have credit on the books, the better.

So up to you.... just don't forget to keep long term goals in mind as time passes faster than you expect.

 

Stick with your current car. I wouldn't want to drive a Rx8 to college or any schools because that's the best place to get your car messed up by immature kid.

 

Wait till you're finished with school. If it's your first new car, you won't get any sleep worrying about it. The first time it gets damaged it will become an even greater distraction. Better to have a car that doesn't demand your attention so that you can focus on classes. If you're already doing well, you'll be even more successful when you finish school.

 

Don't do it. It's not worth getting that close to your financial limit.

 

Great input, everyone. I really do appreciate all of your input. I think I might do what TCHPET2 was saying. I might sell my Intrepid and buy a cheap Honda or whatever. Besides, I always wanted to get a stick-shift car to beat up! Besides, by the time I get out of college, they may have a Turbo RX-8 for sale... And if the rumors are true, the new RX-7 may be available!! (not likely, but still possible).. anyways, thanks again for everyone's input.

 

Man . . . I feel kind of greasy and wrong talking a guy OUT of buying an 8, even though I do think that he has made the smart decision. You'll go far TooGood. Best of luck man!

 

The only thing you're going to get by waiting is peace of mind, and a better car. By the time you graduate, I'm sure there'll be a turbo 8, and you'll have a decent chunk of change to put down on one.

Another thing is, if your college experience is anything like mine, you'll be too busy studying or having fun to deal with a child of a car like an RX-8. This is the kind of car that requires a lot of attention... and not just from people who drool as you drive by. I don't think I could keep my sanity parking one in a school parking lot, especially when your classes are almost guaranteed to be at least a quarter of a mile from it (as with most college campuses).

Make the smart decision, and keep your intrepid. It's roomy, and I doubt you would cry very much if someone put a dent in it.

 

Invest the money!!! Keep your Intrepid. After school you can keep your money invested, watch it grow, or, buy a house - a great investment. Keep your eyes on the future - that $15k could, as it grows, allow you to retire years earlier than if you buy the 8 now. If you've saved $15k so far, you're on the right track, so you're head's probably screwed on straight, but, on the other hand, a $25k car is a little inappropriate for a student.

When I was in college, one of my fraterntiy brothers had an '84 Corvette - in 1984. His dad bought it for him. Sure, it was a cool car, and the rebirth of the Corvette as a modern, world-class sports car, but when he drove around campus he looked real out of place. Maybe some of you folks like to stand out from the crowd, but at a certain point it's a little awkward. Other guys in my fraternity, and non-Greeks, came from affluent families too, but their parents wouldn't allow them to have expensive cars til they got out of school.

Good luck with your decision.

 

My parents bought me a brand new Z28 when I left for college. Keep in mind that was when those were desirable cars. I loved having it, but looking back I would have been better off getting a new car after college.

I know your minds already made up, but here's my advice. Keep the Intrepid until you're ready to go off to college, then sell it and buy a used but nice sports car that costs around $15k or so. Give yourself a bit of a reward for all your hard work. Keep working and keep saving and then buy something like the RX8 when you graduate from college. Also, when you land a "real" job after college you may want to use some of your savings to buy a new home, and start building some equity there as well.

Good luck, you're doing a great job so far. Keep it up!