End of your 20s?! Buy a Challenger! All of us think about fuel costs but you do live in a country(U.S.A.)with relatively cheap gas. Imagine if gas was $7 or $8 a gallon. Enjoy your youth and put money aside for retirement.
Considering a new car
- Thread starter RoGuE
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Originally Posted By: dishdude
Originally Posted By: HerrStig
Putting money aside for retirement is for chumps, right? Maybe the "government" will pay.
I missed the part where OP said he was cashing out his retirement accounts to buy a car.
Me too. Nothing wrong with the V-6 Charger. The new "muscle cars" with a V-6 are more powerful than the old timers with the small V-8s. FWIW my project car, a 2000 Mustang GT, has less power than a new FOUR cylinder Mustang Ecoboost and the 3.7 V-6. The Pentastar 3.6 isn't lacking on power. That being said, if saving money is what you're trying to do (hint: I wish I had sense to do that all these years), fix the Malibu. It's not worth anything in trade and with 50K miles it's got a whole lot of life left in it.
Originally Posted By: HerrStig
Putting money aside for retirement is for chumps, right? Maybe the "government" will pay.
I missed the part where OP said he was cashing out his retirement accounts to buy a car.
Me too. Nothing wrong with the V-6 Charger. The new "muscle cars" with a V-6 are more powerful than the old timers with the small V-8s. FWIW my project car, a 2000 Mustang GT, has less power than a new FOUR cylinder Mustang Ecoboost and the 3.7 V-6. The Pentastar 3.6 isn't lacking on power. That being said, if saving money is what you're trying to do (hint: I wish I had sense to do that all these years), fix the Malibu. It's not worth anything in trade and with 50K miles it's got a whole lot of life left in it.
It makes no financial sense to buy it.
However emotions override logic as humans and you experience life.
I will only state wealthy folks I know would keep driving the 2007....
However emotions override logic as humans and you experience life.
I will only state wealthy folks I know would keep driving the 2007....
If you have your retirement plan on track, your financial house in order, and have saved up to pay for different car, then by all means purchase whatever makes you happy. However, if you don't have your finances in order and have to take out a loan (or stupidly lease something) then you should think twice. If you want to put a bigger smile on your face than that V8 did, watch your investments continue to grow; the smile will be even bigger and still be around when that V8 has been recycled into a Prius fender.
Being in your twenties seems really young, and rainy days/retirement look like something that only happens to someone else in the distant future. I can assure you there will be rainy days, and when retirement comes along too many people realize too late that they have little or nothing set aside for retirement. I can't imagine spending my golden years working as a Walmart greeter because I was too foolish to invest in my future while I was young, instead deciding to lust after a car I really couldn't afford.
Being in your twenties seems really young, and rainy days/retirement look like something that only happens to someone else in the distant future. I can assure you there will be rainy days, and when retirement comes along too many people realize too late that they have little or nothing set aside for retirement. I can't imagine spending my golden years working as a Walmart greeter because I was too foolish to invest in my future while I was young, instead deciding to lust after a car I really couldn't afford.
I'd take the budget and buy a 1967 Charger and spend what it takes to make it go the way you want. 383 4-speed should do it nicely
https://www.bing.com/images/search?view=...&ajaxhist=0
No smog to fool with and a real head turner
https://www.bing.com/images/search?view=...&ajaxhist=0
No smog to fool with and a real head turner
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Originally Posted By: BrocLuno
I'd take the budget and buy a 1967 Charger and spend what it takes to make it go the way you want. 383 4-speed should do it nicely
https://www.bing.com/images/search?view=...&ajaxhist=0
No smog to fool with and a real head turner
Love this suggestion-buy a 50 year old car........
I'd take the budget and buy a 1967 Charger and spend what it takes to make it go the way you want. 383 4-speed should do it nicely
https://www.bing.com/images/search?view=...&ajaxhist=0
No smog to fool with and a real head turner
Love this suggestion-buy a 50 year old car........
JHZR2
Staff member
Its cheaper to repair the car. Do some of that diy to save a few bucks. Nothing is that complex, and you'll still have a low mileage vehicle. Then save for the replacement, and trade up when you have it.
Originally Posted By: JHZR2
Its cheaper to repair the car. Do some of that diy to save a few bucks. Nothing is that complex, and you'll still have a low mileage vehicle. Then save for the replacement, and trade up when you have it.
I agree. I'd love for someone to buy a car, maintain it well, eat the depreciation, then sell it to me for peanuts with 3/4 of its life still left in it!!!
If you want a new car, get one, keep the old one and drive it to work, keep the miles down on the new one. Liability only insurance won't be that much more to keep the old car.
Its cheaper to repair the car. Do some of that diy to save a few bucks. Nothing is that complex, and you'll still have a low mileage vehicle. Then save for the replacement, and trade up when you have it.
I agree. I'd love for someone to buy a car, maintain it well, eat the depreciation, then sell it to me for peanuts with 3/4 of its life still left in it!!!
If you want a new car, get one, keep the old one and drive it to work, keep the miles down on the new one. Liability only insurance won't be that much more to keep the old car.
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I say buy exactly what you want and crave! Life is VERY short and will be gone before you know it. Enjoy it while it's here.
Originally Posted By: aquariuscsm
I say buy exactly what you want and crave! Life is VERY short and will be gone before you know it. Enjoy it while it's here.
Yes, but only after he's got 3yrs of living expenses saved up, his home paid off and his retirement and medical savings account fully funded. Oh and only if he can pay cash for the new car!!
Seriously though. Get the car. You sound like you would not bite off more than you could chew and regardless of how you spin a vehicle purchase, they're all an expense.
I say buy exactly what you want and crave! Life is VERY short and will be gone before you know it. Enjoy it while it's here.
Yes, but only after he's got 3yrs of living expenses saved up, his home paid off and his retirement and medical savings account fully funded. Oh and only if he can pay cash for the new car!!
Seriously though. Get the car. You sound like you would not bite off more than you could chew and regardless of how you spin a vehicle purchase, they're all an expense.
Originally Posted By: Rock_Hudstone
Originally Posted By: RoGuE
I'd. I figure I can get around $3k-$4k for my car in trade-in value
10 year old Malibu with issues, l think you'll be lucky to get $2000 on a trade-in, unless you go new and the dealer wants to move some inventory.
KBB, NADA, and Edmunds all place it around $3500-$3700. That said I doubt a dealer would give me that much, so I'd consider other options such selling it myself.
Originally Posted By: MCompact
Buy the R/T- new or used. I've never heard anyone say, "I sure wish I'd bought a car with less horsepower."
Haha, true. Still a 20% price increase over the V6.
Originally Posted By: 555
End of your 20s?! Buy a Challenger! All of us think about fuel costs but you do live in a country(U.S.A.)with relatively cheap gas. Imagine if gas was $7 or $8 a gallon. Enjoy your youth and put money aside for retirement.
I honestly prefer the look of the Charger over the Challenger, both inside and out. And they are just about the same weight and size.
Originally Posted By: Pop_Rivit
If you have your retirement plan on track, your financial house in order, and have saved up to pay for different car, then by all means purchase whatever makes you happy. However, if you don't have your finances in order and have to take out a loan (or stupidly lease something) then you should think twice. If you want to put a bigger smile on your face than that V8 did, watch your investments continue to grow; the smile will be even bigger and still be around when that V8 has been recycled into a Prius fender.
Being in your twenties seems really young, and rainy days/retirement look like something that only happens to someone else in the distant future. I can assure you there will be rainy days, and when retirement comes along too many people realize too late that they have little or nothing set aside for retirement. I can't imagine spending my golden years working as a Walmart greeter because I was too foolish to invest in my future while I was young, instead deciding to lust after a car I really couldn't afford.
I'm doing pretty well financially. Contributing to a 401k for the max employer match. Have some stocks. Been saving plenty of money by being extremely frugal (and driving a 10 year old Malibu...)
Originally Posted By: spasm3
Originally Posted By: JHZR2
Its cheaper to repair the car. Do some of that diy to save a few bucks. Nothing is that complex, and you'll still have a low mileage vehicle. Then save for the replacement, and trade up when you have it.
I agree. I'd love for someone to buy a car, maintain it well, eat the depreciation, then sell it to me for peanuts with 3/4 of its life still left in it!!!
If you want a new car, get one, keep the old one and drive it to work, keep the miles down on the new one. Liability only insurance won't be that much more to keep the old car.
Sure, I could fix it but it doesn't change the fact that I want something newer that isn't a stripped down basic economy car.
It is not an enjoyable car to drive, it is merely adequate in all areas. Like I mentioned before it is very underpowered. 144 HP engine in a car that weighs 3300 pounds. Add in 4 people and any luggage and it simply can't get out of it's own way. And there are safety considerations. It has no side airbags, only side curtain. No ABS, no traction control, very light in the front to the point the tires will spin on the slightest incline when wet.
Originally Posted By: RoGuE
I'd. I figure I can get around $3k-$4k for my car in trade-in value
10 year old Malibu with issues, l think you'll be lucky to get $2000 on a trade-in, unless you go new and the dealer wants to move some inventory.
KBB, NADA, and Edmunds all place it around $3500-$3700. That said I doubt a dealer would give me that much, so I'd consider other options such selling it myself.
Originally Posted By: MCompact
Buy the R/T- new or used. I've never heard anyone say, "I sure wish I'd bought a car with less horsepower."
Haha, true. Still a 20% price increase over the V6.
Originally Posted By: 555
End of your 20s?! Buy a Challenger! All of us think about fuel costs but you do live in a country(U.S.A.)with relatively cheap gas. Imagine if gas was $7 or $8 a gallon. Enjoy your youth and put money aside for retirement.
I honestly prefer the look of the Charger over the Challenger, both inside and out. And they are just about the same weight and size.
Originally Posted By: Pop_Rivit
If you have your retirement plan on track, your financial house in order, and have saved up to pay for different car, then by all means purchase whatever makes you happy. However, if you don't have your finances in order and have to take out a loan (or stupidly lease something) then you should think twice. If you want to put a bigger smile on your face than that V8 did, watch your investments continue to grow; the smile will be even bigger and still be around when that V8 has been recycled into a Prius fender.
Being in your twenties seems really young, and rainy days/retirement look like something that only happens to someone else in the distant future. I can assure you there will be rainy days, and when retirement comes along too many people realize too late that they have little or nothing set aside for retirement. I can't imagine spending my golden years working as a Walmart greeter because I was too foolish to invest in my future while I was young, instead deciding to lust after a car I really couldn't afford.
I'm doing pretty well financially. Contributing to a 401k for the max employer match. Have some stocks. Been saving plenty of money by being extremely frugal (and driving a 10 year old Malibu...)
Originally Posted By: spasm3
Originally Posted By: JHZR2
Its cheaper to repair the car. Do some of that diy to save a few bucks. Nothing is that complex, and you'll still have a low mileage vehicle. Then save for the replacement, and trade up when you have it.
I agree. I'd love for someone to buy a car, maintain it well, eat the depreciation, then sell it to me for peanuts with 3/4 of its life still left in it!!!
If you want a new car, get one, keep the old one and drive it to work, keep the miles down on the new one. Liability only insurance won't be that much more to keep the old car.
Sure, I could fix it but it doesn't change the fact that I want something newer that isn't a stripped down basic economy car.
It is not an enjoyable car to drive, it is merely adequate in all areas. Like I mentioned before it is very underpowered. 144 HP engine in a car that weighs 3300 pounds. Add in 4 people and any luggage and it simply can't get out of it's own way. And there are safety considerations. It has no side airbags, only side curtain. No ABS, no traction control, very light in the front to the point the tires will spin on the slightest incline when wet.
Originally Posted By: RoGuE
Originally Posted By: Rock_Hudstone
Originally Posted By: RoGuE
I'd. I figure I can get around $3k-$4k for my car in trade-in value
10 year old Malibu with issues, l think you'll be lucky to get $2000 on a trade-in, unless you go new and the dealer wants to move some inventory.
KBB, NADA, and Edmunds all place it around $3500-$3700. That said I doubt a dealer would give me that much, so I'd consider other options such selling it myself.
Originally Posted By: MCompact
Buy the R/T- new or used. I've never heard anyone say, "I sure wish I'd bought a car with less horsepower."
Haha, true. Still a 20% price increase over the V6.
Originally Posted By: 555
End of your 20s?! Buy a Challenger! All of us think about fuel costs but you do live in a country(U.S.A.)with relatively cheap gas. Imagine if gas was $7 or $8 a gallon. Enjoy your youth and put money aside for retirement.
I honestly prefer the look of the Charger over the Challenger, both inside and out. And they are just about the same weight and size.
Originally Posted By: Pop_Rivit
If you have your retirement plan on track, your financial house in order, and have saved up to pay for different car, then by all means purchase whatever makes you happy. However, if you don't have your finances in order and have to take out a loan (or stupidly lease something) then you should think twice. If you want to put a bigger smile on your face than that V8 did, watch your investments continue to grow; the smile will be even bigger and still be around when that V8 has been recycled into a Prius fender.
Being in your twenties seems really young, and rainy days/retirement look like something that only happens to someone else in the distant future. I can assure you there will be rainy days, and when retirement comes along too many people realize too late that they have little or nothing set aside for retirement. I can't imagine spending my golden years working as a Walmart greeter because I was too foolish to invest in my future while I was young, instead deciding to lust after a car I really couldn't afford.
I'm doing pretty well financially. Contributing to a 401k for the max employer match. Have some stocks. Been saving plenty of money by being extremely frugal (and driving a 10 year old Malibu...)
Originally Posted By: spasm3
Originally Posted By: JHZR2
Its cheaper to repair the car. Do some of that diy to save a few bucks. Nothing is that complex, and you'll still have a low mileage vehicle. Then save for the replacement, and trade up when you have it.
I agree. I'd love for someone to buy a car, maintain it well, eat the depreciation, then sell it to me for peanuts with 3/4 of its life still left in it!!!
If you want a new car, get one, keep the old one and drive it to work, keep the miles down on the new one. Liability only insurance won't be that much more to keep the old car.
Sure, I could fix it but it doesn't change the fact that I want something newer that isn't a stripped down basic economy car.
It is not an enjoyable car to drive, it is merely adequate in all areas. Like I mentioned before it is very underpowered. 144 HP engine in a car that weighs 3300 pounds. Add in 4 people and any luggage and it simply can't get out of it's own way. And there are safety considerations. It has no side airbags, only side curtain. No ABS, no traction control, very light in the front to the point the tires will spin on the slightest incline when wet.
This is an ideal car for some BITOG members. We have seen how some salivate over a Crown Vic with even less tech/airbags.
Originally Posted By: Rock_Hudstone
Originally Posted By: RoGuE
I'd. I figure I can get around $3k-$4k for my car in trade-in value
10 year old Malibu with issues, l think you'll be lucky to get $2000 on a trade-in, unless you go new and the dealer wants to move some inventory.
KBB, NADA, and Edmunds all place it around $3500-$3700. That said I doubt a dealer would give me that much, so I'd consider other options such selling it myself.
Originally Posted By: MCompact
Buy the R/T- new or used. I've never heard anyone say, "I sure wish I'd bought a car with less horsepower."
Haha, true. Still a 20% price increase over the V6.
Originally Posted By: 555
End of your 20s?! Buy a Challenger! All of us think about fuel costs but you do live in a country(U.S.A.)with relatively cheap gas. Imagine if gas was $7 or $8 a gallon. Enjoy your youth and put money aside for retirement.
I honestly prefer the look of the Charger over the Challenger, both inside and out. And they are just about the same weight and size.
Originally Posted By: Pop_Rivit
If you have your retirement plan on track, your financial house in order, and have saved up to pay for different car, then by all means purchase whatever makes you happy. However, if you don't have your finances in order and have to take out a loan (or stupidly lease something) then you should think twice. If you want to put a bigger smile on your face than that V8 did, watch your investments continue to grow; the smile will be even bigger and still be around when that V8 has been recycled into a Prius fender.
Being in your twenties seems really young, and rainy days/retirement look like something that only happens to someone else in the distant future. I can assure you there will be rainy days, and when retirement comes along too many people realize too late that they have little or nothing set aside for retirement. I can't imagine spending my golden years working as a Walmart greeter because I was too foolish to invest in my future while I was young, instead deciding to lust after a car I really couldn't afford.
I'm doing pretty well financially. Contributing to a 401k for the max employer match. Have some stocks. Been saving plenty of money by being extremely frugal (and driving a 10 year old Malibu...)
Originally Posted By: spasm3
Originally Posted By: JHZR2
Its cheaper to repair the car. Do some of that diy to save a few bucks. Nothing is that complex, and you'll still have a low mileage vehicle. Then save for the replacement, and trade up when you have it.
I agree. I'd love for someone to buy a car, maintain it well, eat the depreciation, then sell it to me for peanuts with 3/4 of its life still left in it!!!
If you want a new car, get one, keep the old one and drive it to work, keep the miles down on the new one. Liability only insurance won't be that much more to keep the old car.
Sure, I could fix it but it doesn't change the fact that I want something newer that isn't a stripped down basic economy car.
It is not an enjoyable car to drive, it is merely adequate in all areas. Like I mentioned before it is very underpowered. 144 HP engine in a car that weighs 3300 pounds. Add in 4 people and any luggage and it simply can't get out of it's own way. And there are safety considerations. It has no side airbags, only side curtain. No ABS, no traction control, very light in the front to the point the tires will spin on the slightest incline when wet.
This is an ideal car for some BITOG members. We have seen how some salivate over a Crown Vic with even less tech/airbags.
get rid of it. i had an 04 malibu ls with all sorts of random problems with only 62k miles on it before i traded it in at carmax since the dealer gave such a lowball number. Ended gettin around KBB value for it and put it towards a turbo sonata.
Originally Posted By: RoGuE
[ It has no side airbags, only side curtain.
Unfortunately all those new car air bags should be called money bags.
If they go off in any quantity the replacement cost can exceed the value of a otherwise repairable vehicle. Thus, the car gets totaled by the insurance co. which then turns around and low balls the market value on the car.
That said, nothing wrong with trading up if you can afford it, you got your moneys worth out of that Mailbu. But I would take my time and bargain hard. Used car prices are falling and will continue to fall for the next few years.
[ It has no side airbags, only side curtain.
Unfortunately all those new car air bags should be called money bags.
If they go off in any quantity the replacement cost can exceed the value of a otherwise repairable vehicle. Thus, the car gets totaled by the insurance co. which then turns around and low balls the market value on the car.
That said, nothing wrong with trading up if you can afford it, you got your moneys worth out of that Mailbu. But I would take my time and bargain hard. Used car prices are falling and will continue to fall for the next few years.
Originally Posted By: RoGuE
Sure, I could fix it but it doesn't change the fact that I want something newer that isn't a stripped down basic economy car.
It is not an enjoyable car to drive, it is merely adequate in all areas. Like I mentioned before it is very underpowered. 144 HP engine in a car that weighs 3300 pounds. Add in 4 people and any luggage and it simply can't get out of it's own way. And there are safety considerations. It has no side airbags, only side curtain. No ABS, no traction control, very light in the front to the point the tires will spin on the slightest incline when wet.
I picked up a used 2011 Mercedes E350 last year for under 18k, mileage was a little high, but had lots of options. It was a 4matic so AWD and of course ABS, traction control and stability control were all standard. Lots of little things to play with. The massage seats are fun to play with on long trips. Almost too distracting with all the things you can play with on the display screen. It didn't have blind spot, lane keeping or active cruise control so it could have had even more stuff to play with. As others said, life is short, I don't know why I didn't get one earlier. Driving a basic car and fixing it all the time gets boring after a while. Sometimes I can't help myself and really enjoy driving it. That never really happened in my older car.
Sure, I could fix it but it doesn't change the fact that I want something newer that isn't a stripped down basic economy car.
It is not an enjoyable car to drive, it is merely adequate in all areas. Like I mentioned before it is very underpowered. 144 HP engine in a car that weighs 3300 pounds. Add in 4 people and any luggage and it simply can't get out of it's own way. And there are safety considerations. It has no side airbags, only side curtain. No ABS, no traction control, very light in the front to the point the tires will spin on the slightest incline when wet.
I picked up a used 2011 Mercedes E350 last year for under 18k, mileage was a little high, but had lots of options. It was a 4matic so AWD and of course ABS, traction control and stability control were all standard. Lots of little things to play with. The massage seats are fun to play with on long trips. Almost too distracting with all the things you can play with on the display screen. It didn't have blind spot, lane keeping or active cruise control so it could have had even more stuff to play with. As others said, life is short, I don't know why I didn't get one earlier. Driving a basic car and fixing it all the time gets boring after a while. Sometimes I can't help myself and really enjoy driving it. That never really happened in my older car.
If I spent my 20's in a Malibu I would have killed myself!
Some of the best times I had were when I purchased my first and second BMW's (first at 21)!
Not to mention my 84 Rabbit and other random (cheaper used) cars.
I never went into debt but those BMW's really made an impression on me as well as the females I was courting!
Yeah man, I sure didn't save much cash back then, but those memories stuck with me until today.
Sure am glad I kept my BMW as they've been increasing in values (especially the well maintained, totally stock ones).
I am also glad I went with my mechanic's advise to avoid the early 80's Volvo Turbo coupe's and stick with the BMW's
Some of the best times I had were when I purchased my first and second BMW's (first at 21)!
Not to mention my 84 Rabbit and other random (cheaper used) cars.
I never went into debt but those BMW's really made an impression on me as well as the females I was courting!
Yeah man, I sure didn't save much cash back then, but those memories stuck with me until today.
Sure am glad I kept my BMW as they've been increasing in values (especially the well maintained, totally stock ones).
I am also glad I went with my mechanic's advise to avoid the early 80's Volvo Turbo coupe's and stick with the BMW's
Sell the Malibu or trade it in. I know the dealer will give you next to nothing on a trade-in but unless you know someone who knows someone who needs a car, having strangers show up to drive your car can be a harrowing experience. See if you can sell to a used car lot. Any money you put into the Malibu should be because you plan on running it to the bitter end. Otherwise you're just adding value for the next buyer.
If a Charger makes you really happy just get the V8 and start enjoying.
If a Charger makes you really happy just get the V8 and start enjoying.
Just think how responsible you will be by getting "only" the 5.7l instead of the 2/3 models with engines with even higher outputs and fuel consumption !
My advice would be buy something you can afford, that makes you happy.
There is some truth to the saying you only live once. You can save a million dollars for retirement and drive a 30 year old Camry, then get hit by a bus at 35. That doesn't mean saving for retirement and planning for the future is something to completely forget about though.
The best thing is to compromise. Buy something that you enjoy driving, while also being financially responsible. Something used that you plan on keeping awhile is a smart move.
There is some truth to the saying you only live once. You can save a million dollars for retirement and drive a 30 year old Camry, then get hit by a bus at 35. That doesn't mean saving for retirement and planning for the future is something to completely forget about though.
The best thing is to compromise. Buy something that you enjoy driving, while also being financially responsible. Something used that you plan on keeping awhile is a smart move.
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