I would look at a Saturn Aura. They're great looking, efficient and not that expensive.
I mean it this time... I'm car shopping
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You failed to mention if you are having to finance this car. If you are I would keep what you have. As you know by having a finance degree, you never finance a depreciating asset. I car is one of the worst investments to make. Keep what you have!! It sounds like to me you WANT a different car, but don't really NEED it!
How about taking the 22,000 you plan on spending on a new car, and put it into a mutual fund. I'm sure over 30 years without adding another dime you'd become a millionaire.
So the real questions is, a new car now or retire a millionaire earlier. You have the knowledge of a finance degree, but do you have the discipline to make short term sacrificie for long term financial gain. When you look at it in this light, cars are never CHEAP!!
How about taking the 22,000 you plan on spending on a new car, and put it into a mutual fund. I'm sure over 30 years without adding another dime you'd become a millionaire.
So the real questions is, a new car now or retire a millionaire earlier. You have the knowledge of a finance degree, but do you have the discipline to make short term sacrificie for long term financial gain. When you look at it in this light, cars are never CHEAP!!
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While you're out there testdriving the 9-3 and the G35, also check out 3- and the 5-series from bmw. The 5 may actually be cheaper to insure as it is considered a family sedan. Reliability won't be as good as some of the Japanese makes, but it won't be worse than a Cherokee that you're considering as well.
+1...and if you like to track your car or drive hard, a BMW will take it unlike some of the other choices.
I like the idea of a 6MT, 2005 Acura TSX. Plenty of power, XM, and for $22k, you could probably get a model equipped with Navigation.
The car is "mature" enough to convey a professional image, yet fun to drive, and won't allow you to feel the age and does fine in the dating game.
The car is "mature" enough to convey a professional image, yet fun to drive, and won't allow you to feel the age and does fine in the dating game.
gulledge - You missed the point of the whole reason I need the car... my parents need a car and after them helping me get to where I am today, I think it's the least I can do to help my folks out. Yes, I know financing such an asset isn't a good idea but, in this case, I can afford to.
I should note that if need be, I can go to an auto auction with my friend who owns a dealer... that's probably the route I'll take.
I should note that if need be, I can go to an auto auction with my friend who owns a dealer... that's probably the route I'll take.
I read again your first post, and I see how that you have to buy a car. The main point I was trying to make was in relation to where you are in life. (About to graduate, new job, little to no debt, hopefully) At this point you are about to start making decisions that are going to impact how you live for the next many, many years. Being able to making the payment on a car, or even buy a car out right for cash doesn't mean that you can "afford" it. The question about "What else could I do with this money?" should be asked. I think alot of us have been where you are, and before we knew it we had the job, wife, 2 kids, cars etc. But for most of us, that also brought alot of payments and before you know it, you might not have the disposable income you are about to have. I believe most people in their lifetime are either going to make a decision to PAY interest or MAKE interest. Some people get that decision made for them because they make choices that require them to PAY payments and interest. All I'm saying is that right now, you are at a fork in the road. You must decide now, before you have to many obligations and are forced down the interest PAYING side, to make decisions which will give you financial freedom as well as personal freedom. I would talk with your parents and see if they need or want your car. If not, keep what you have. You can also help them out in other ways if they need.
Point well taken. I am making enough money in Houston, where I will be living rent free, this summer to buy a car... I just got my offer letter and I won't have to finance very much at all. (I won't say how much exactly...)
Parents do need the car. Pacifica's lease is up in May and sister is going to college and needs her car.
I should mention that I pay nothing to go to school. I am 2 scholarships.
Case and point: My parents have put their heart and soul into seeing me succeed and have been there every step of the way. If I have to pay a little interest on the car, which as you mentioned is bad because its a depreciating asset, I think its worth the extra I'll pay on interest.
Parents do need the car. Pacifica's lease is up in May and sister is going to college and needs her car.
I should mention that I pay nothing to go to school. I am 2 scholarships.
Case and point: My parents have put their heart and soul into seeing me succeed and have been there every step of the way. If I have to pay a little interest on the car, which as you mentioned is bad because its a depreciating asset, I think its worth the extra I'll pay on interest.
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