I'm a college student with a '95 BMW 525iA looking for something a little newer and more fun. With nothing to do on a Friday, I went looking at cars.

There was a black 2004 RX8 6-speed at a Jeep dealership. 28k miles for $16,400, not a bad deal.

Cosmetically it wasn't terrible. Two small dents on the roof above the driver's window. Scuffed 18" wheels. The person who had it before was a dog owner, dog hair everywhere on the cloth/suede seats. I think the front bumper had a broken clip.

The car drove well, could use new front tires, as the original Potenzas are loud as hell. Probably wasn't driven hard since they were still on there. Rear Pilots, nice touch.

I've read the FAQs. I understand that it needs to have the latest firmware update. I understand that there have been changes to starter/battery. But are there inherent problems that warrant staying away from an '04?

BUT...

There's a brand-new, never titled 2006 Shinka down the road at the Mazda/Chevrolet dealer. There's a green tag for $26,000 on it, I think they can do better.

So the question is: Used 2004 needing $1,000 in reconditioning on a 36 month loan, or a new 2006 Shinka on a 60 month loan?

 

I bought a 2004 RX-8 GT 6-speed with 39,000 miles for $17,000. You should check Autotrader.com.

http://www.autotrader.com/fyc/vdp.js...ce=&cardist=49
or

http://www.autotrader.com/fyc/vdp.js...ce=&cardist=59

You can look through.

http://www.autotrader.com/fyc/search...=&keywordsfyc=

 

Yeah, thanks. I'm pretty satisfied with this one, but am nervous about buying a used car and financing it. The miles sure are low.

Anything special you had to check on your '04? Anything in particular I need to check when/if I go back for it? Do you wish you paid ~$6k more for a new one?

 

Keep looking. My friend tried selling his '04 for six months. couldn't get $15000.
42,000 miles, mint in and out. 6 Speed, leather, all options but nav. Check individual owners instead of dealers.

 

I got a 04 and i had it checked out by the mazda dealership before i bought it only thing it didnt have was the recalls done but no other issues out of it.

 

I actually have one for sale ('04 WB GT) at the moment. I'm not too far from you if you are in the Atlanta area right now. You can check out my sig for the link to car on here. Give me a call and I'll tell you more about it.

 

Thanks for the replies.

I'm not in the Atlanta area, I'm up in Indiana for college.

I prefer individual owners, but I'd rather waste a dealer's time if I'm not ready to sign at the moment.

I'm not ready to buy (or sure I want to buy a car at all, dunno if I want payments). I think I have commitment issues haha.

Thanks though, and if something changes I'll keep the WB car in mind, I love that color.

 

If it's an auto.... I'd steer away from it.

 

I'm gonna tell you what you don't want to hear.

What do you have in College loans?
What will you have when you graduate?
You're in College and the last thing you need is another car payment unless daddy is gonna help you out.

I know it sucks, but the best thing is to forget about the car for now, get through school, take the money you save and bank it away to pay off those loans(if any) and then go get the car you really, really want.

My two cents.

 

I'm a senior in College, I decided to throw down on a car because I can afford it no problem. Luckily they pay engineering interns pretty good. Just bought a 04 with 17000 miles from a dealer in just about new condition for $16000. My payment is only $300 a month but I will probably just pay it off within a year to decrease the hit I would take from interest. If you are not completely satisfied with the car don't buy it. Keep looking, their will always be a better one down the road.

 

I agree that it sucks to have the car payment no question. Paying off student loans on the other hand is a bad idea. Usually the rate is low and the interest is tax deductible. Instead of paying off a low interest loan invest the money and keep the difference.

My 1/2 cent...

 

Only works if you can make more money through investment than you can save in interest over the entire life of the loan(s). I know it's very possible and doable, but not 100% of the time.

 

tax deductible interest?

 

True, although with some savings accounts paying 5%+ it shouldn't be hard to beat the return.


Some student loan interest is tax deductible (in the US.) Not sure about the particulars, just know it got me some money back last year.

 

I'll give ya the first point....although you do have to know where to put your money! All my interest bearing accounts are oveer 5% right now.
Would still go with a "good" stock that pays a decent dividend, not some astronomical dividend one as they tend to be hiding something and playing games.

 

Go new, so you can have a longer Warranty period.

That 04's warranty is up in like 2 months, and if something major happens after that you could end up paying as much as it would cost for that new 06 Shinka. Besides, it's a Shinka, it's better than the base models, if you're into cosmetic stuff..

 

2005 or newer.

 

There ARE better deals out there for used 04's. But if you can swing it, buy new and eliminate some unknowns.