New advice on buying a new car

[awd-drifter]

Hmm. I was leaning towards the Audi's but from reading this thread it seems like they're a pain to work on. The Audi S4 Avant (the 'wagon' version) was extremely nice when I worked on one a while back. Slightly lower it and rims and it's definitely an eye catcher but it just sucks that modifying it or doing "simple" maintenance on it could be a pain. Have you looked into Lexus and Acura? Lexus GS400?

[s1ngletracker]

my vote is get something you don't have to get a loan on. The premise of doing it 'to build credit' is weak IMO

[Shane@DBPerformance]

Get a 1990 Civic Sedan.

[Trogdor]

my vote is get something you don't have to get a loan on. The premise of doing it 'to build credit' is weak IMO

That's a tricky one. It depends on your interest rate. If you can out earn your loans interest rate by investing somewhere else at a higher rate of return, than you're generally better of doing that. It does build credit, and earns you money that you would otherwise have not gotten.

For instance, if a mortgage rate is 4.5% and you know you can gain 6% from an investment account, hell yeah you should take that loan for as long as you can! Dump your paycheck in to the investment account, let it gather interest for 30 days, pull out the payment and let the principal of the investment grow by 1.5%

[Halon]

my vote is get something you don't have to get a loan on. The premise of doing it 'to build credit' is weak IMO

+1 I've had 1 car payment in my life (when I was 19) and didn't like that. Won't ever do it again if I don't have to. But different strokes for different folks.

[HiImBrian]

http://www.mnsportcompacts.net/forum/showthread.php?103845-2006-legacy-gt-limited

That car is like 10 hours from me. I live in Colorado

[HiImBrian]

my vote is get something you don't have to get a loan on. The premise of doing it 'to build credit' is weak IMO

+1 I've had 1 car payment in my life (when I was 19) and didn't like that. Won't ever do it again if I don't have to. But different strokes for different folks.

I don't plan to get a loan for a car I can't afford. I plan to get a loan on something I can pay off easily. It's unfortunate (but understandable) that you start off with zero credit and have to work your way up. I've gone 24 years without needing a credit card and I still don't need one. But if I plan to buy a house in the future I need to start thinking about credit.

I'm obviously not buying a new car solely to build credit...I'm just killing two birds with one stone.

[C3L1CA]

Does it have to have 4 doors and be awd?


Ever think about the Jaguar x-types? Just throwing out other 4 door awd cars.

[Murlo26]

+1 I've had 1 car payment in my life (when I was 19) and didn't like that. Won't ever do it again if I don't have to. But different strokes for different folks.

I got one for my evo for about half of it and I must say it wasn't bad at all until I bought a house, then I really hated life and the fact that I had a mortgage and evo payment.

If you can get away without one that is ideal. If I could go back I would've saved more and paid more up front for lower payments but I don't think a car loan is the end of the world. I am finishing off the evo loan in a few weeks and not getting another car loan anytime soon, that will feel great.

[HiImBrian]

Does it have to have 4 doors and be awd?


Ever think about the Jaguar x-types? Just throwing out other 4 door awd cars.

I don't think I'm much of a Jag guy haha thanks though.

I got one for my evo for about half of it and I must say it wasn't bad at all until I bought a house, then I really hated life and the fact that I had a mortgage and evo payment.

If you can get away without one that is ideal. If I could go back I would've saved more and paid more up front for lower payments but I don't think a car loan is the end of the world. I am finishing off the evo loan in a few weeks and not getting another car loan anytime soon, that will feel great.

Oh I'll definitely have a car paid off before I buy a house. I just started a 14 month lease and I don't plan to have a car payment by the time I move outa here :)