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Maybe get an Accord and go from there.
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Surtur
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buying used isnt a bad idea either if you dont rush it and get something that wasnt beaten and abused for a good price.
SeanR
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I've read all the posts here, and I'll pitch my two cents in and let you decide what it's worth. I'm going to use specific numbers to put things in perspective for you. I am in no way bragging or attempting to belittle your proposition.
I'm currently 22, at the beginning of a stable career, and I've already started investing in the stock market for retirement (Roth IRA). By that, I mean I have a substantial amount of money in the stock market that I don't expect to see again until I'm retired (barring any substantial emergency). I make about $3,500 a month but only have $2,500 of usable income after expenses. I'm putting a $10,000 down payment on the car just so I can afford a feasible monthly payment. That's not a joke. A monthly payment of ~$450 plus ~$90 in insurance takes it to an extra $540 that I have to pay for the next six years. That, even in itself, is pushing it considering the type of emergency that could pop up, but I have medical insurance, so hopefully nothing too serious.
I guess what I'm trying to say is that a car purchase like this obviously has a lot to with emotions. I am completely enfatuated with this car. I've been researching it for months. However, at some point, enfatuation has to give way to realistic analysis of its economical feasibility. You need to be thinking about other things as well such as investing in your future whether that be with saving money, going to college, or just reducing the economic burden on yourself. I don't want to patronize you, but look a little deeper into the percentage of your income that is being spent on just the car payment and the volatility of a teenager's life. If you're that motivated to get the car, get a steady job and save up. Delayed gratification is often the best.
I'm just gonna slowly step off my soap box. I completely understand your desire for this car. I really do. It sounds like you're keeping your options open, so consider that eco boost or wait on the 2015s which may be up for sale in the coming years at a depreciated cost. PM me if you have any questions or want to continue the discussion.
Sean
I'm currently 22, at the beginning of a stable career, and I've already started investing in the stock market for retirement (Roth IRA). By that, I mean I have a substantial amount of money in the stock market that I don't expect to see again until I'm retired (barring any substantial emergency). I make about $3,500 a month but only have $2,500 of usable income after expenses. I'm putting a $10,000 down payment on the car just so I can afford a feasible monthly payment. That's not a joke. A monthly payment of ~$450 plus ~$90 in insurance takes it to an extra $540 that I have to pay for the next six years. That, even in itself, is pushing it considering the type of emergency that could pop up, but I have medical insurance, so hopefully nothing too serious.
I guess what I'm trying to say is that a car purchase like this obviously has a lot to with emotions. I am completely enfatuated with this car. I've been researching it for months. However, at some point, enfatuation has to give way to realistic analysis of its economical feasibility. You need to be thinking about other things as well such as investing in your future whether that be with saving money, going to college, or just reducing the economic burden on yourself. I don't want to patronize you, but look a little deeper into the percentage of your income that is being spent on just the car payment and the volatility of a teenager's life. If you're that motivated to get the car, get a steady job and save up. Delayed gratification is often the best.
I'm just gonna slowly step off my soap box. I completely understand your desire for this car. I really do. It sounds like you're keeping your options open, so consider that eco boost or wait on the 2015s which may be up for sale in the coming years at a depreciated cost. PM me if you have any questions or want to continue the discussion.
Sean
00quicksilver
New Member
Ok, I will put in my 2 cents here,
I did what you are saying to a degree but about 13 years ago. Picked up a low mileage fully loaded 2000 mustang GT while I was in my early college years. At the time parents fully supported me and I lived at home. I ended up going off to a private university and my parents had some health issues come up and decided they wanted to use their money for retirement rather than supporting their "Adult Son". Anyways, I ended up having to sell my car for a beater and ended up with a 20k loss (between mods and car depreciation) and ended up with 100k in student debt. Wish I had bought a used "fun" car that I paid off instead of a expensive fun car that I modded, but hindsight is 20/20.
I would say that you need to learn to rely on yourself and be able to pay for everything just in case something happens. I would use the money you are putting down to buy a car cash and start taking things over if you are not already paying them (car insurance for car, cell phone, give parents small amount for rent, etc.). Do not be car poor. You say you only play hockey and are not interested in having a girlfriend. I doubt you will feel that way throughout your whole college career. A car is fun, but when I look back I remember crazy nights and experiences with my friends, not that one time I did a highway pull to 140 in the stang.
I did what you are saying to a degree but about 13 years ago. Picked up a low mileage fully loaded 2000 mustang GT while I was in my early college years. At the time parents fully supported me and I lived at home. I ended up going off to a private university and my parents had some health issues come up and decided they wanted to use their money for retirement rather than supporting their "Adult Son". Anyways, I ended up having to sell my car for a beater and ended up with a 20k loss (between mods and car depreciation) and ended up with 100k in student debt. Wish I had bought a used "fun" car that I paid off instead of a expensive fun car that I modded, but hindsight is 20/20.
I would say that you need to learn to rely on yourself and be able to pay for everything just in case something happens. I would use the money you are putting down to buy a car cash and start taking things over if you are not already paying them (car insurance for car, cell phone, give parents small amount for rent, etc.). Do not be car poor. You say you only play hockey and are not interested in having a girlfriend. I doubt you will feel that way throughout your whole college career. A car is fun, but when I look back I remember crazy nights and experiences with my friends, not that one time I did a highway pull to 140 in the stang.
jvandy50
H3249
Damn this thread is all over the place!
If you are a responsible, level headed dude that is taking some assistance from willing and able parents...I'd do it, mainly because I have. We couldn't afford what you're talking about, but I kinda did the same thing on a smaller scale (think 12k mustangs).
My parents bent over backwards to give me what I wanted toy wise, when they could. Motorcycles since I was 9, 3/4-wheelers, sports equipment, you name it. I didn't realize it at the time, but damn they did a lot for me. Mid 20s it hit me and I thank them all the time. I'm 34 now and just ordered my first new GT. Parents live a street over and dad is excited as I am because we can work on it together.
Mine put me in a position to sink or swim so to speak. And I was told i would be given opportunity until I fucked up. Well I never could afford the mods I wanted, and they didn't help with that, so in a way it kinda bred ambition to work harder in school. They claim this was their plan all along lol.
And if it weren't for a lucky chance to live with some buddies, I'd stayed at my parents house the whole time I was in college. PT school was not easy and took 8 years. Now, I'm fine financially and just recently got to sorta repay my parents for being awesome(albeit nothing close to what I owe) and let them live with me while they house hunted Arkansas after moving from Texas.
Guess what I'm saying is if you're truly not taking it for granted and you're still gonna work hard, get the fuckin car you want.
Vandy
If you are a responsible, level headed dude that is taking some assistance from willing and able parents...I'd do it, mainly because I have. We couldn't afford what you're talking about, but I kinda did the same thing on a smaller scale (think 12k mustangs).
My parents bent over backwards to give me what I wanted toy wise, when they could. Motorcycles since I was 9, 3/4-wheelers, sports equipment, you name it. I didn't realize it at the time, but damn they did a lot for me. Mid 20s it hit me and I thank them all the time. I'm 34 now and just ordered my first new GT. Parents live a street over and dad is excited as I am because we can work on it together.
Mine put me in a position to sink or swim so to speak. And I was told i would be given opportunity until I fucked up. Well I never could afford the mods I wanted, and they didn't help with that, so in a way it kinda bred ambition to work harder in school. They claim this was their plan all along lol.
And if it weren't for a lucky chance to live with some buddies, I'd stayed at my parents house the whole time I was in college. PT school was not easy and took 8 years. Now, I'm fine financially and just recently got to sorta repay my parents for being awesome(albeit nothing close to what I owe) and let them live with me while they house hunted Arkansas after moving from Texas.
Guess what I'm saying is if you're truly not taking it for granted and you're still gonna work hard, get the fuckin car you want.
Vandy
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Skacs
Active Member
Some food for thought...
Years ago when I graduated college and got my first job I was fortunate enough to be driving a hand me down from the parents - a chrysler intrepid. Thankfully I didn't have to pay for the car although insurance, gas, maintenance, etc. was all on me.
Like you though I was into fast cars and wanted something better. Well one day the motor in the chrysler decided to blow which forced me into a position of having to buy another car.
The mustang was first and foremost my choice, however, while I had a decent income I realistically wouldn't be able to afford anything else (nightlife, vacations, general saving) as it was a GT or nothing. So I picked up a ranger instead and saved up for a couple more years until I was financially in a position to be able to afford one and be able to enjoy the car and life as well. Like others have said it's all about priorities.
Best of luck in your decision!
P.S. I financed both the truck and currently the mustang. Nothing wrong with financing - to each their own.
Years ago when I graduated college and got my first job I was fortunate enough to be driving a hand me down from the parents - a chrysler intrepid. Thankfully I didn't have to pay for the car although insurance, gas, maintenance, etc. was all on me.
Like you though I was into fast cars and wanted something better. Well one day the motor in the chrysler decided to blow which forced me into a position of having to buy another car.
The mustang was first and foremost my choice, however, while I had a decent income I realistically wouldn't be able to afford anything else (nightlife, vacations, general saving) as it was a GT or nothing. So I picked up a ranger instead and saved up for a couple more years until I was financially in a position to be able to afford one and be able to enjoy the car and life as well. Like others have said it's all about priorities.
Best of luck in your decision!
P.S. I financed both the truck and currently the mustang. Nothing wrong with financing - to each their own.
Fox5.0
Well-Known Member
Get the GT. I financed my first 5.0 at 19 and boy let me tell you. Be ready to have some fun with the car and the ladies.
I was in a similar situation except my business was up and running by 20 so I had to pay for all the bills. 400$ a month is a great deal for a GT, don't settle for the ecoboost.
IMO, I'm only 21, but when your young is the time to get these kind of cars. Get it, enjoy it, and just watch your money.
AND stay away from girlfriends, they're just a second car payment trust me.
Also think about moving out if you want to do that in the future, because if you decide you're sick at home. You won't be able to afford everything and rent.
I was in a similar situation except my business was up and running by 20 so I had to pay for all the bills. 400$ a month is a great deal for a GT, don't settle for the ecoboost.
IMO, I'm only 21, but when your young is the time to get these kind of cars. Get it, enjoy it, and just watch your money.
AND stay away from girlfriends, they're just a second car payment trust me.
Also think about moving out if you want to do that in the future, because if you decide you're sick at home. You won't be able to afford everything and rent.
matteos
Well-Known Member
A used Accord coupe can be got for about 8K.Maybe get an Accord and go from there.
You want to get the one with the 6 cylinder VTEC. around 270hp I think
You will be driving an Accord though.
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altjx
GTFO_0036 | 1337 h4x3r
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Yes. This right here ^^^^. If I was still dating my ex, I'd still be in my 08 Charger. Don't want to start a new topic or anything but this post right here pushed a button for me.
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Earlsays
Well-Known Member
I would wait. You have, 12 grand as a down payment? You know, you could flat out buy a VERY nice car for 12 grand - and have no payment. You could also finance a much less expensive used car - say, a 2011-2014 GT - put 12K down on that, and owe far less, and have a much, much lower payment.
Or you could buy a FOX, SN95/NEW EDGE and do a coyote swap with a cheap salvage F150 drive train, and have something really unique - you could probably do this for 12 grand at the most. Hell, you could do a V8/RWD Kugel Komponents Ford Focus for about that much money.
The S550 is an amazingly nice car. Supercar territory as far as I am concerned.
When I was 18, I had a chunk of money, much like you...and I bought a car with it too. Had I invested that money in wise things, I would be a millionaire - RIGHT NOW. But I didn't, and I am not. I am OK with it, because what choice do I have? Still something I have to live with. No regrets though, really, the life lessons I picked up along the way are worth a great deal more, in many ways.
I've flown real high, been down about as low as you can get, and back again, a couple times...and that's OK...but if I could be 18 again with a pile of cash? I wouldn't be thinking about cars.
Another thing to consider, people will absolutely give you non stop grief about "mommy and daddy bought that..." regardless of weather or not it's true...not a deal breaker, but something to be aware of.
Also, you will not want to live with your parents for years and years because a car note is sucking your finances dry. Been there, done that, and it's no picnic. Thinking from a long-term prospective, them "helping you" do this, is not necessarily the best thing for you. Nice of them? Sure.
You know what else is fun? Having your own place. You should live with roomates first to appreciate it. Same idea with having some junk cars first, to appreciate the nice ones later. This concept can't really be explained, or understood, you just have to live it. I'm not trying to talk down to you or anything, we've all been in your shoes, and honestly, you sound like you have a better head on your shoulders than most at your age. Still...
I would get a nice used car - you can get damn near anything you want with the money you have available for a down on your Mustang. Focus on having your own place to live...it's worth it.
Another thing to consider is insurance. If for some reason, you suddenly have to fork over 100% of the cost of that policy, it will be a pretty penny. If something happens, ticket, accident, etc. it will be more. Way more.
Just something to think about, things change, etc. On the other hand, you only live once, life is short, and if you want it, you CAN make it work...What do you do for a living anyhow?
It took me 15 years to get my first GT. I had a V6 ten years ago, and at one point I had to live in a nasty roachy apartment in the ghetto because of that stupid car.
Or you could buy a FOX, SN95/NEW EDGE and do a coyote swap with a cheap salvage F150 drive train, and have something really unique - you could probably do this for 12 grand at the most. Hell, you could do a V8/RWD Kugel Komponents Ford Focus for about that much money.
The S550 is an amazingly nice car. Supercar territory as far as I am concerned.
When I was 18, I had a chunk of money, much like you...and I bought a car with it too. Had I invested that money in wise things, I would be a millionaire - RIGHT NOW. But I didn't, and I am not. I am OK with it, because what choice do I have? Still something I have to live with. No regrets though, really, the life lessons I picked up along the way are worth a great deal more, in many ways.
I've flown real high, been down about as low as you can get, and back again, a couple times...and that's OK...but if I could be 18 again with a pile of cash? I wouldn't be thinking about cars.
Another thing to consider, people will absolutely give you non stop grief about "mommy and daddy bought that..." regardless of weather or not it's true...not a deal breaker, but something to be aware of.
Also, you will not want to live with your parents for years and years because a car note is sucking your finances dry. Been there, done that, and it's no picnic. Thinking from a long-term prospective, them "helping you" do this, is not necessarily the best thing for you. Nice of them? Sure.
You know what else is fun? Having your own place. You should live with roomates first to appreciate it. Same idea with having some junk cars first, to appreciate the nice ones later. This concept can't really be explained, or understood, you just have to live it. I'm not trying to talk down to you or anything, we've all been in your shoes, and honestly, you sound like you have a better head on your shoulders than most at your age. Still...
I would get a nice used car - you can get damn near anything you want with the money you have available for a down on your Mustang. Focus on having your own place to live...it's worth it.
Another thing to consider is insurance. If for some reason, you suddenly have to fork over 100% of the cost of that policy, it will be a pretty penny. If something happens, ticket, accident, etc. it will be more. Way more.
Just something to think about, things change, etc. On the other hand, you only live once, life is short, and if you want it, you CAN make it work...What do you do for a living anyhow?
It took me 15 years to get my first GT. I had a V6 ten years ago, and at one point I had to live in a nasty roachy apartment in the ghetto because of that stupid car.
Surtur
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i think he means even if you get the vtec higher hp accord...youre still driving an accord no matter how fast it goes
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