Buying a new car.. and cell phone plan

[fallenangel99]

I graduated this past May 2004, got a full time job.. now my brother is graduating in may 2005 and he needs the car i am using. So that means I have to buy a new car. not only that, my parents are getting rid of the family cell phone plan and I have to get my own too! Oh yeah, I just started paying off loans.

So does anyone have any tips for buying a new car? I would like some personal opinions. I've read edmunds, cars.com all that. I am willing to spend $15K-$25K. I have excellent credit so I hope I get the best rate (even though i know the car salesman is going to rip me off). I am looking at the either the Acura or a Civic. I dont want anything that would make me look like I have a family (or kids)

Also, how does one manage all their bills? Since I am starting to pay all my own, I am starting to freak out and almost forget payments. I signed up at www.yodlee.com and can see all my credit card/checking/loan statements

Thanks!

 

[kdp]

Get a used BMW 3 series.

 

[notfred]

How does buying a car that won't "make you look like you have a family", and a cell phone have anything to do with the path to adulthood?

 

[jadinolf]

Originally posted by: notfred
How does buying a car that won't "make you look like you have a family", and a cell phone have anything to do with the path to adulthood?

2 great questions. 🙂

 

[njmodi]

Originally posted by: fallenangel99
I am looking at the either the Acura or a Civic. I dont want anything that would make me look like I have a family (or kids)

Also, how does one manage all their bills?

1. Which Acura are you thinking about - with your budget (assuming a new car is being purchased), I am guessing you are thinking of a TSX or RSX.

2. There is a huge difference between any Acura and a Civic. (Not necessarily a good difference or one that you care about, just that they are in two different markets almost).

3. Ether Microsoft Money or Quicken will help keep a tab on your finances and bills.

I am assuming you are still in your early 20s. Before you buy any car, do some research on how much insurance is going to cost - it will not be cheap. My personal opinion (since you have asked for it) is to buy a newer used car. You save a good chunk of change, save on insurance, and don't spend all your hard-earned money on something that almost always loses money over time - a car is typically not an investment. You can knock of 20-30% a cars price if you are willing to buy a car that is 2 yrs old.

 

[ScottFern]

Scion tC. AWESOME car for 17k

 

[Gibson486]

why does the car have to be new? I mean, if you are paying off loans from school and a car (insurance) and the extra $$$ for a cell phone....you get the idea.


Managing finances can be hard, especailly if you throw your self into into it to fast.

Acura or Civic? you can't even compare them. Civics are A to B cars and that is it.

 

[lukatmyshu]

What car you get depends on how much car you can realistically afford. Why not take your income and start allocating it properly. Say for instance you make 60K a year. This translates to 5000 a month (roughly). After taxes ... say 4000. Next you got to worry about rent (assuming you pay this). Then figure out how much you have in expenses (eating out, gas, insurance). Last thing is your savings ... figure out how much you want to be saving (For instance ... 20% of my salary goes into my savings account. Plus I buy employee stock which is 10 percent of my salary). Anything left is how much you can look to be affording for a car.