Gonna need a car

[Insomniator]

I Graduated in Oct and got a full time job pretty much right after graduation but its about an hour away and my 96 Camry with 110k isn't going to be reliable enough for this too work out (already missed one day due to it)....

I know the Camry is a good car, hell my ideal choice of car would still be a turbo volvo 240/740 but I really think a new or pretty new car is needed for this long of a commute.

My dad said now is probably a good time to buy a nice car as they should be practically givin em away with this economy and my job should be pretty solid as it is for the state.

He also said loans should come with really low interest rates now but I have no idea.

Whats the best way to go? I'm living at home so I'm saving a lot of money which can go towards a loan or lease payment.

Am I really supposed to take out like a 20k loan and buy a freakin car? What kind of crazy bank would give a 22 year old a loan?

 

[Tooncesthedrivingcat]

buy a camry that is 2 years old with low miles and save yourself a bunch of dough.

 

[LS21]

get your dad to co-sign on a loan. then you can get yourself a decent reliable starter car like a civic, mazda 3, corolla, etc. yes, 20k.

 

[FoBoT]

go get some auto industry bailout money, GMAC is giving 0% loans to people with 620 FICO to save the auto jobs

 

[nakedfrog]

Originally posted by: Insomniator
I know the Camry is a good car, hell my ideal choice of car would still be a turbo volvo 240/740 but I really think a new or pretty new car is needed for this long of a commute.

Those Volvos are solid. In two years, I've had to replace the alternator belt and a couple turbo hoses on my 1990 740. Of course, gas mileage wouldn't be great for a commute that length.

 

[her209]

Move closer to work.

 

[Atomic Playboy]

Get a cheap piece of shit. I paid $3,500ish for a 2000 Century and it's been fine. Not a great car by any means, but my car gets me to and from locations reliably. I don't need a $20,000 machine to do that. And that extra $16,500 can buy a lot of hookers and blow.

 

[Feldenak]

Originally posted by: FoBoT
go get some auto industry bailout money, GMAC is giving 0% loans to people with 620 FICO to save the auto jobs

Sah-weet, Imma go get me a car now.

 

[OCGuy]

Originally posted by: Atomic Playboy
Get a cheap piece of shit. I paid $3,500ish for a 2000 Century and it's been fine. Not a great car by any means, but my car gets me to and from locations reliably. I don't need a $20,000 machine to do that. And that extra $16,500 can buy a lot of hookers and blow.

Yea you will definatly be paying for sex once the ladies get a look at that sweet Century :laugh:

 

[Atomic Playboy]

Originally posted by: Ocguy31

Originally posted by: Atomic Playboy
Get a cheap piece of shit. I paid $3,500ish for a 2000 Century and it's been fine. Not a great car by any means, but my car gets me to and from locations reliably. I don't need a $20,000 machine to do that. And that extra $16,500 can buy a lot of hookers and blow.

Yea you will definatly be paying for sex once the ladies get a look at that sweet Century :laugh:

Nah, I just find a stupid one and tell her it's a Cadillac. All old people cars look alike.

 

[HardcoreRobot]

Originally posted by: FoBoT
go get some auto industry bailout money, GMAC is giving 0% loans to people with 620 FICO to save the auto jobs

not saying 620 is a 'bad' credit score, but wasn't loosening lending requirements a big reason why the auto jobs and everything else in this economy is sucking?

 

[FoBoT]

Originally posted by: HardcoreRobot

Originally posted by: FoBoT
go get some auto industry bailout money, GMAC is giving 0% loans to people with 620 FICO to save the auto jobs

not saying 620 is a 'bad' credit score, but wasn't loosening lending requirements a big reason why the auto jobs and everything else in this economy is sucking?

don't run for Congress, you think too much

 

[yh125d]

Hell for 20k you can get a used S60 R. I love mine (Really my dad's, but I drive it more than he does)

 

[RaistlinZ]

Why not move closer to work?

 

[UsandThem]

Why not get a basic car like an 09 Focus. Those things are like $11,000 and get good gas mileage. Remember, most cars are not investments and especially if you are going to put a lot of miles on it.

 

[pstylesss]

Don't get a car loan and don't put anyone in the position of co-signing a loan for you. Take the money you have saved and go buy a reliable car with cash. Not only are new cars being given away, but people are trying to get out of the upside down used cars. Don't put yourself in unneeded debt, especially for you age.

 

[nakedfrog]

Originally posted by: Atomic Playboy
Get a cheap piece of shit. I paid $3,500ish for a 2000 Century and it's been fine. Not a great car by any means, but my car gets me to and from locations reliably. I don't need a $20,000 machine to do that. And that extra $16,500 can buy a lot of hookers and blow.

We have wildly divergent opinions on "cheap piece of shit cars"
If the price has four digits, it doesn't qualify

 

[Patt]

You could buy my Mazda6 wagon for $17000, and that is in Canadian dollars ... Since I moved and walk or bike to work everyday, it is just sitting and depreciating in my driveway, and I want to rid myself of it.

 

[OCGuy]

Originally posted by: ZeroIQ
Don't get a car loan and don't put anyone in the position of co-signing a loan for you. Take the money you have saved and go buy a reliable car with cash. Not only are new cars being given away, but people are trying to get out of the upside down used cars. Don't put yourself in unneeded debt, especially for you age.

Wrong. Credit is a great tool if you know how to use it correctly.

Also, a good credit history is a key to life.

 

[Insomniator]

Yeah I definitely want a wagon, a V70R or S60R would be freakin awesome but way to much car for me.

It looks like used V50's and foresters (dad's got one, nice little car) go for around 15-20k... too bad its so tough to find ANYTHING in a manual these days though.

I would get a cheap POS, but I want a car with a warranty... my last car before the camry was a huggeee money pit (xc70). I'd rather spend some reasonable amount of dough on a nice reliable car rather than spend nothing on something that costs 3 grand a year to keep running.

 

[nakedfrog]

Originally posted by: Insomniator
Yeah I definitely want a wagon, a V70R or S60R would be freakin awesome but way to much car for me.

It looks like used V50's and foresters (dad's got one, nice little car) go for around 15-20k... too bad its so tough to find ANYTHING in a manual these days though.

I would get a cheap POS, but I want a car with a warranty... my last car before the camry was a huggeee money pit (xc70). I'd rather spend some reasonable amount of dough on a nice reliable car rather than spend nothing on something that costs 3 grand a year to keep running.

Brand new Subaru Forester 2.5X base model with manual transmission is $19,995 MSRP, so you can lop some of that off after haggling. 3 year warranty, 6 year powertrain. EPA rated 20/26mpg
The new ones look more like an SUV than an overly tall wagon like the previous models.
<--- Test drove one and still considering a purchase if the dealer meets my unreasonable demands

 

[spaceman]

take a loan, build credit.
get something nice.
the bottom line is, you are either going to pay in time, a mechanic, or via car payment.

 

[ebaycj]

Originally posted by: Ocguy31

Originally posted by: ZeroIQ
Don't get a car loan and don't put anyone in the position of co-signing a loan for you. Take the money you have saved and go buy a reliable car with cash. Not only are new cars being given away, but people are trying to get out of the upside down used cars. Don't put yourself in unneeded debt, especially for you age.

Wrong. Credit is a great tool if you know how to use it correctly.

Also, a good credit history is a key to life.

No sense buying a new car for $20k when he can get a year old one for $12k from some poor sap who can't afford it anymore.

Credit is important, but paying lots of interest is for fools.

 

[Red Squirrel]

See if you can find a used one for like 5 grand so you can pay cash. No car payments FTW. This is especially good if you're trying to save up for a house. You may need to put money on the car as things break but it will still be less then if you need to make payments.

 

[pstylesss]

Originally posted by: ebaycj

Originally posted by: Ocguy31

Originally posted by: ZeroIQ
Don't get a car loan and don't put anyone in the position of co-signing a loan for you. Take the money you have saved and go buy a reliable car with cash. Not only are new cars being given away, but people are trying to get out of the upside down used cars. Don't put yourself in unneeded debt, especially for you age.

Wrong. Credit is a great tool if you know how to use it correctly.

Also, a good credit history is a key to life.

No sense buying a new car for $20k when he can get a year old one for $12k from some poor sap who can't afford it anymore.

Credit is important, but paying lots of interest is for fools.

Nothing about my post is wrong, OcGuy, I never said credit is bad. What I said is bad is having someone co-sign a loan and buying a new car and financing it. He would be making payments on a depreciating asset. Bad idea. I'm speaking from experience. Credit is good if used properly, you're right, but a new car is not needed. If he has money saved up he can use that and buy a good used car, then make car payments to himself for the next car purchase he wants to make.