[I~LUV~Caddys8792]

I wanna get something really nice after college, and I want to finance something, and not make ginormous payments monthly. I'm only going to a two year college for now, so in a year and half, I will have to move out and get an apartment or something. I've found some decent apartments nearby for about $700 a month. Would you recommend making payment on an apartment and a car too?

I would like to spend about $5000-$8000 on my next car. With a $1500 down payment, and a 6.5% interest rate over 60 months, I expect to pay about $70.00-$120.00 a month for a car. Mid '90s american luxury cars with about 80-100k miles go for about $5000-$8000 on todays market.
Heres what I'm thinking right now:

1991-96 Oldsmobile Ninety Eight
1991-97 Lincoln Town Car
1990-92 Cadillac Brougham
1992-99 Pontiac Bonneville SLE,SSE,SSEi
1992-99 Buick Park Avenue
1994-99 Cadillac Deville Concours
1997-03 Pontiac Grand Prix GTP
1995-1999 Oldsmobile Aurora
1997-2003 Audi A8 (too expensive, but possibly)

I figure I'll get something cheaper and newer now, and after a few years, when I'm atleast 25 I'll get that Mark IV I've always wanted, unless I can find one for a steal.

 

[illumina]

I would work on just saving the cash for a newer car right after college (especially from a two year school) over making two different payments. Remember, not only would you have to worry about making that car payment, but also a full-coverage insurance payment as well.

Also, fair financing for over half of those cars listed will be tough to come by because of the age of some of those cars. Normally, the older the car, the stricter the financing: something about the investment the finance company has to make for such cars...That finance rate you posted is more on the lines for much newer cars than those listed. They're more for the certified pre-owned lots that are fresh trade-ins from their sister dealerships that sells brand-new cars.

Because of those factors, I would choose to keep what you have, take care of her (the car), and keep things within your budget without having to worry about payments between rent, insurance, and the car.

 

[powerglide]

Tough question....straight out of school the best thing to do would be to start saving (make monthly payments into saving and retirement account) this is so important to start at the earliest age possible.

That said, it doesnt hurt to make regular loan payments to establish your credit.
But at that budget I'd probably recommend something reliable and cheap to insure and maintain and gas up. Cars are a money pit....

I'd stay away from the audi though, (I dont think youre gonna find a 03 for 5-8k) so you'll be lookin at 10 year old high end audis. So if something breaks you may need to take out another loan.

I really like the 97+ devilles....and it has been extremely reliable for me. I bet you could find a 01 or something around 10k by the time you graduate.

 

[I~LUV~Caddys8792]

Powerglide, the devilles are really nice, reliable cars, and I would love to have a car with a N*, but I would prefer to stay away from cars that are FWD V8 configuration. If its anything like my 4.9, its nearly impossible to do simple things like plugs, and overall accessibilty is horrible. Plus I hear with the N*, parts are even more expensive than the 4.9.

Illumina- I would like to get a newer car as quickly as possible due to that coolant leak in my block. The most logical choices from above are anything with the N/A 3800 (especially the Ninety Eight) or the Town Car because thats a simple design, with a proven drivetrain thats extremely reliable and you can get them cheap, and they make you feel like a million bucks.

 

[SpeedyArizona]

I'd get the Grand Prix, most of the others are saying, "I'm 65 and older". Personally, if I was your age, I'd get a 97-01 Mustang or 86-93 Corvette, not a luxury car.

 

[I~LUV~Caddys8792]

Speedy,the image a vehicle portrays has never meant anything to me. If it did, I wouldn't have bought a caddy, because society says they are "old people's cars" :cookoo: (who cares though, It's not a big deal at all to me)

A mustang/corvette would be more "age appropriate" but they would be VERY expensive for a 20 year old to insure, plus I never really liked Mustangs or Corvettes. I've always liked luxury cars especially Caddys and Lincolns the most. If I wanted a sporty car, I would go with a Mark VIII or Eldo ETC.

 

[mccombie_5]

If theres nothing broke dont fix it.

If your car is ok (i happen to know its leaking coolant through the block though) dont get rid

I'd find a cheap Caddy or Lincoln of about the same age as what you have, make sure theres nothing wrong with it first, and make sure it will last you through college. If possible do not move out unless you have to, its an extra (very expensive) cost. I stayed home for as long as I could, which wasnt very long though.

Claire did this, she bought an 11 old car (1964 Volvo P1800) and ran her it through college and she kept it in University. It was only once she met me that we had new cars. She stayed at home with her parents, paid them board, but her mother would never acept much. Start your retiremtn scheme, Claire has one, she gets it with being a teacher, I do too, buit mine is independand, also do some number crunching before you sign stuff like that.

Save the cash now, try and pay cash, if you are a couple thousand short take out a loan rather than financing. It will be easier. Pay the loan back, and keep the car as long as possible, until you can COMFORTABLE afford to lease or buy one. You may not want to keep the same car too long, but its worth it, I had a good well paid job and i was in education, when i was 23 I bought a new Range Rover for cash, I had to work my guts out to buy that. It crippled me, so dont make that mistake. Just keep it cheap, then go extravagant when you have a well paid job and somewhere to live.

 

[I~LUV~Caddys8792]

Well I'm gonna keep my car through college unless this pinhole in my block expands. Then after I'm gonna try to get a newer car for around $5-6k. And because I'm paying for school right now, I will not have any cash at all. So I will have to get a loan or finance my next car.

 

[mccombie_5]

Well I'm gonna keep my car through college unless this pinhole in my block expands. Then after I'm gonna try to get a newer car for around $5-6k. And because I'm paying for school right now, I will not have any cash at all. So I will have to get a loan or finance my next car.

Do you have a job alogside this? Its something to look into if you dont, it gets you girls

 

[I~LUV~Caddys8792]

Yeah I have a job also, actually I'm at work right now
I'm a parts and service cashier at a Nissan dealer.

 

[mccombie_5]

Yeah I have a job also, actually I'm at work right now
I'm a parts and service cashier at a Nissan dealer.

Do many girls have Nissans? LOL

I dont know how much you get paid, but its worth trying to save that too

My son is currently working in Starbucks whilst at college, he only finished work an hour ago, its 11pm here.

 

[I~LUV~Caddys8792]

I get paid $8 an hour, usually I bring $140 home each week.
No, not many girls drive Nissans
Most of the girls my age drive Pontiacs and Hondas.
Maybe I should get a job at a Pontiac dealer, god knows I'd be busy enough :lildevil:

 

[mccombie_5]

I get paid $8 an hour, usually I bring $140 home each week.
No, not many girls drive Nissans
Most of the girls my age drive Pontiacs and Hondas.
Maybe I should get a job at a Pontiac dealer, god knows I'd be busy enough :lildevil:

LOL

I always wondered this, WHO DOES drive Nissans?

Go to Pontiac

Or VW! Teenage girls all have VW New Beetles right?

 

[I~LUV~Caddys8792]

Or VW! Teenage girls all have VW New Beetles right?

The rich ones do who have their daddy buy them their VW.

 

[mccombie_5]

The rich ones do who have their daddy buy them their VW.

Thats the kinda girl you want!!!

Someone to buy you a new car! heh heh

 

[I~LUV~Caddys8792]

Thats the kinda girl you want!!!

Bingo! :thumbsup: :highfive:

 

[mccombie_5]

Bingo! :thumbsup: :highfive:

LOL!

Pink Ipods all round!

 

[I~LUV~Caddys8792]

Pink Ipods all round!

I want a black one.

 

[Jesda]

If youre studying medicine, get an A8, because the staggering repair bills will only eat up 1/3 of your income. I would -love- to have one though, even as a garage queen.

 

[I~LUV~Caddys8792]

Well since im going into sales of some sort, I'll need a big american luxo liner, Like a Town Car!