...

[MiniGolfIsFun]

If I were you, I'd go for the mazda 6. Not only has their reputation and quality increased over the last couple of years, but it'll be more convenient for you...unless you get a lot of snow and AWD is a priority.

Of course everyone saying they are worried about what you can afford is important so you might honestly want to look at a used car.

BTW, I think it would help us if you told us what you drove before and how much of a car payment you made a month.

 

[canadianpsycho]

Hey, thanks for all the replies. Just woke up (Night Shift)

Yeah, I know the cost is close to my incone, but there's a few things to consider:

-My wife's car will be paid off by October, where she then plans to assist me with payments.
-I'm underpaid at what I do. I'm a lab tech, and make pretty much the minimum what I could make. I'm potentially in line for a promotion to a supervisory position this year, bumping me to about 45k. That, or I will find something new at at least 40k. Hopefully
-We're DINKs, with no plans to have kids for about 3 years or so (we're both 28).

I think we can carry the cost.

As for the TSX/RSX, I'm a bit concerned about the power band. I don't like the fact that all the HP comes at 7k RPMs. And again, I still need to check the SRT-4.

I may still consider something cheaper, but atm I'v got me heart set on one of those 2. ALthough I'll probably end up with a Daewoo with my luck

Edit: My current lease is for $400 a month, Pontiac Grand Am, 1999 4cyl.

 

[bernse]

For what it's worth, I'd consider just a plain Imprezza 2.5 coupe.

Not the WRX, but still goes OK and has AWD. Was their top-o-the-line car only a year ago.. and damn near $10K less CDN.

 

[thedarkwolf]

The srt-4's drivetrain should hold up atleast aswell as the WRX's. The interior may fall apart but the engine and trans are very stout peices. The 6 will probably be the most reliable, thanks to its Ford engine , and most practicle but it will also be the slowest and boringest.

 

[Ornery]

Why don't you invest in some real estate before worrying about a damn new car?

Mortgage rates won't stay this low forever. Use your head!

 

[MustangSVT]

fvck it, buy BMW M3 !! u are young only once

 

[StageLeft]

Originally posted by: Ornery
Why don't you invest in some real estate before worrying about a damn new car?

Mortgage rates won't stay this low forever. Use your head!

Great advice!

In regards to depreciation if you're going to buy new I bet that SRT4 will be worth about 10% what it's worth new after 6 months. Domestics drop in value quickly, and I'd assume that a car like the SRT4 will merely compound that.

I don't want to beat a dead horse, but if there's any convincing you not to buy a car worth this much: Just because you can cover payments now doesn't mean you should. I could probably get approved to buy an M3, but what happens if I lose my job, or heaven forbid I want some savings built up? It's going to be difficult when you're car-poor, and unlike a house it just goes down in value. Unless you have savings now, or truly believe you can get some saved up, in 3 years when you have the kid you'll still have these huge car payments and no money saved up for the kid. That means tight budget, start on their college fund late, etc. I sound like an old man, but there is always time for a nice car and it will be ever the sweeter if you can truly afford it without busting your balls to do so. Also if you get in the habit of having a nice car now, it's going to be tough to say no to a new one in the future and then you're always chasing a nice new car.

Anyway goodluck

 

[canadianpsycho]

Originally posted by: Ornery
Why don't you invest in some real estate before worrying about a damn new car?

Mortgage rates won't stay this low forever. Use your head!

I've got a Mortgage. 180k Townhouse, end unit. Love it.

And Skoorb, one of the things I don't really have to worry about is losing my job. I'd have to assassinate someone to lose it. Seriously. Even if I get laid off, my company is phenominal at severance packages.

 

[Ornery]

"So my lease is up in 2 months..."

Oh, a car lease!

 

[Eli]

WRX.

 

[PeeluckyDuckee]

Never say never. Life's full of challenges.

Cars depreciate, houses retain their value. With the extra money you have, put it towards the home and get a used ride instead. The interest you save on the mortgage will help you afford a nice ride down the road. Do you have any savings at the moment? And you plan on having children in 3-5yrs? Better start saving, them kids are bad bad investments! They'll rape you for more money than a new car will!

And I agree, spending your annual gross on a car is mind boggling, to me anyways.

 

[bernse]

I don't think anyone would argue that realestate is a good investment, however, not everyone can do it.

Depending where CanadianPsycho lives, homes might easily be $300,000 and he'll require a min of 5% down plus costs. Even for a $200,000 house that is easily $12K+ that will be needed in either cash or easily cashable assets. .. not something that everyone has.

Besides, many people that rent own new cars too! I'd be willing to bet a lot of people on this board do.

That being said, I wouldn't recomend an entire years salary on a car unless it is business and a large part of it can be expensed (then, it really isn't a years salary anymore! )

I would try to keep your budget to around $20-25K TOPS. Otherwise, you'll be stretching yourself thin and not leaving much left over for those upcomming emergencies or when you may eventually want to save up and buy some property or other major investments.

 

[canadianpsycho]

ALRIGHT DAMMIT! ENOUGH ABOUT MY PITIFUL WAGE!

But seriously.

Acutally just had a friend of my Mother call her... 2002 Camaro SS (AT though ) 29000 Kilometers

I'm guessing that's going to be a lot more affordable...

Anything to check out about the car if I go look at it? Any issues with the year/model in general? Try to limit the domestic vs. import flamewars

 

[mAdD INDIAN]

you said you didn't care much about comfort/interior so I suggest a SRT-4.

Straight out performance and some of the best seats in the industry. It also has a 10yr warranty and is around $25k CDN, which is a whole lot cheaper than your other choices.

 

[bernse]

Originally posted by: canadianpsycho
ALRIGHT DAMMIT! ENOUGH ABOUT MY PITIFUL WAGE!

But seriously.

Acutally just had a friend of my Mother call her... 2002 Camaro SS (AT though ) 29000 Kilometers

I'm guessing that's going to be a lot more affordable...

Anything to check out about the car if I go look at it? Any issues with the year/model in general? Try to limit the domestic vs. import flamewars

If you don't buy it, let me know. Depending the shape its in and how much she's asking, I might be interested!

Seriously!

 

[Ameesh]

you do realize that you cannot afford those cars, right?

 

[canadianpsycho]

Originally posted by: Ameesh
you do realize that you cannot afford those cars, right?

Boring, editing this now, I guess I shouldn't have included my income.

 

[Ameesh]

Originally posted by: canadianpsycho

Originally posted by: Ameesh
you do realize that you cannot afford those cars, right?

Boring, editing this now, I guess I shouldn't have included my income.

you are incredibly stupid if you spend a whole years salary on a car. the usuall guideline is 1/2 years gross slaray is roughly how much car you can afford.

 

[Budmantom]

Buy the Camaro, and remember you still make more than most in this forum.

 

[canadianpsycho]

I'm not really worried about my income at all.

What I don't appreciate is generally negative posters call me stupid for my full disclosure. My wife already offered to go in on the car wioth me (Heck, I think she wants the 6 more then I do) so it wasn't really a matter of figuring out how to pay for it.

Ah well. Finding out more info on the Camaro... I can't see me driving one though. Its an AT, I kinda wanted manual though. Have to see what my Mother's friend wants.