Dread

Hey, just browsing the forums and saying hi. I'm a young driver, age 17, looking at potential cars for once I get some credit scores under my belt and get some college experience etc.

I've personally decided that an RX8 would suit my driving style and preferences best, and have been to every mazda and third-party dealership within 200 miles of my place of residence demo'ing and looking at them. Ideally, I hope to be able to afford one by sophomore year in college, which would be quite the accomplishment in my opinion.

Working $10 an hour at the local circuit city, I make about $1k a month (school yearly, about $1.7-2.2k summer), and $14-15k a year, minus spending (high school spending of course) leaves me at around $12k income per year. Considering I bank 1/2 of it into savings and the other 1/2 for spending, thats $6k per year towards my first officially self-bought car. Granted, spending will of course go up in college, but I tend to handle my finances fairly well, though of course, am a little inexperienced at my age.

All the same, I should be sitting on about $12-13k by the time I get to my sophomore year. I figure I would put that towards the car, and either take an auto loan or have one of my parents take one, and I pay them rather than the loaner, to pay off the rest once the time comes. I'd prefer to pay off the entire car at once, because I know car payments are a bitch (I know, and I'm only paying half per month for my '91 Celica).

Of course my insurance will be high no matter what, as I'll only be 20-21 during my sophomore year, but I also figure I can get a slight drop in percentage by running it through my parents as the primary owners or some such. But with the car paid off, my main focus for expenditure would just be insurance and rent (parents agreed to pay for food for the first 3 years of college, woo)

Granted, I'm just glad I found the car that I want eventually, and hopefully an interesting community to join. I'm just looking towards the future with an optimistic side.

^^

Ike

Have a good time in college and don't worry about busting your *** to get a car. You have the rest of your life to be in debt, save it for when you're done with school.

Detrich

sounds like u have a good plan there... when i was ur age, just having a car was a dream come true, much less a car like the rx-8. the FC had just come out my freshman year, and it was beautiful. (only the rich kids had sports cars.) maybe if ur parents pitch in a little, u can get it sooner. good luck and welcome to the rx-8 club.

eforer

I second that. I've stretched myself financially on cars in the past and sucks the enjoyment out of them. That said, you should be able to slot in to an 04 for around 15k which is approx 300.00 a month at %5apr for 60. Thats pretty affordable, but you got to put gas in the sucker and insure it too. Insurance and gas cost me about 600 dollars a month combined, and my insurance is cheap.

Also, get your mom or dad to cosign if they have good credit. It will help get a nice low interest rate, and more importantly, quickly build your credit. I did this when I bought my first financed car (had my dad cosign) and quickly got my FICO up nice and high very quickly. Having a credit card with your parents name on it too works well for this. Just don't screw up because you'll hurt their credit too.

Its tough to find a better rwd sports car for the money though, so its understandable why you would want one.

Dread

Hey thanks for the welcome all.

In response to not busting my ***:

I've always worked through high school, even before hiring age, I washed cars and mowed lawns every day, and I plan to work all through college of course. I won't miss out on any fun or anything like that, I naturally tend to party my *** off and get alot of soccer in.

I just always want to make sure I have a steady source of income, and a nice amount flowing towards the car, because I've had an obsession with Exotic sports cars since freshman year.

eforer

Sounds like a man with a plan. Go for it if you think you can swing the $$. Try to find and 04 sport 6 speed as they are the lightest while still having hids and DSC (good to have as a saftey net when your not in the mood to push it). A nice car with sub 20k for mileage should be around 15k. I'm sure you already know that the mileage isn't that hot, but all the cars in this segment suck in that department.

CarAndDriver

If you can wait a couple more years, finish college and get a better paying job and then you'll have more options and won't have to be so worried about cutting it so close.

ASH8

^^
I agree with C&D...
The world won't run out of cars..
Welcome.

NoTears316

welcome

DarkBrew

Welcome to the forum.

You have a good savings plan. Get some good investment advice. Get a good education. When the time is right then buy your car.

Gambit

Don't waste all your money on a car...I know it sounds like a good idea now, but you'll be happier with a decent car to get through college, then buy yourself something good when you get a real job.

You'll be happier with the money for now

delhi

With the US real estate tanking, it may be a good time to plunk in on some poor unfortunate souls' property.... bwahahahahahah

Fortunate Few

iTrader: (2)

Yeah im 17 as well but i have an rx8. They're good cars you'll love it, but dont get one unless you get a really good deal on it. i got an 07 and now i gotta make some big car payments.

CarAndDriver

^ Cars depreciate! And the 8 is particularly bad in that department so you may get stuck paying off a car that is worthless than what you're paying in.

Ever Hernandez

Ummm...suits the 8 very well . Sounds like you got a good head on your shoulders, don't lose it You appreciate things better when you get them yourself. Good luck and Welcome to the forum

DarkBrew

What do you know!
http://www.jconline.com/apps/pbcs.dl...NT13/704200302

Mazurfer

The simple fact is.................if you're serious about getting an education, you won't be driving it all that much(or you shouldn't be), so wait on the car.
4-6 years seems like an eternity, but it will fly by......trust me, just get a beater that runs good!
And.........you'll also have to have a pretty decent job in order to afford it and everything else........which also will take a way from school.

Just my two cents.