• Guest, The rules for the P & N subforum have been updated to prohibit "ad hominem" or personal attacks against other posters. See the full details in the post "Politics and News Rules & Guidelines."

New or used car?

OS

Lifer
Oct 11, 1999
15,581
1
76
Here's my situation. I'm a student, 1 year from graduating, electrical engineering major. I totaled my car, destroyed it by flipping it while going 100. I need a car now obviously. Should I lay out 4k now, buy an 88-89 accord with around <90k miles, or sign for a civic LX/EX coupe. 1k down, 300 a month for 5 years.

Right now, I'm leaning towards buying new, no need to worry about things breaking, and the cost for a one year period (including insurance) for either option is about the same. Once I graduate, I figure money won't be as big a deal, since EEs make 45k starting. But always taking suggestions of course.



Civic coupe, want that exact color also


3G R2 accord, what I had before and maybe get again
 

SSP

Lifer
Oct 11, 1999
17,736
0
0
IMO:

I'd go for the accord now and buy a new car when I have the money. If you do buy a new car now. you'll be paying it off for couple of years. Thats pretty bad if you run in to money problems (could happen).
 

Moonbeam

Elite Member
Nov 24, 1999
67,664
4,264
126
I don't know what to advise you but I'm telling myself that maybe 65MPH max is gonna spare me from a similar dilema. Congratulations on being alive and yea maybe you don't need a car. Get yourself a rubber room.
 

OS

Lifer
Oct 11, 1999
15,581
1
76


<< have you ever thought of whether you REALLY need a car? >>



Yes, I do. I live 25 miles away from school.
 
Oct 9, 1999
15,215
3
81
buy the new car.. trust me you dont want to deal with problems with a 10 year old car.

I mean 300/mo isnt bad, a little on the upper side but its because your buying it not leasing.

DO NOT lease.. its not worth it, though its something to consider if you plan to buy a new proper car in 3 years.. in that case lease it and dump it later.. however leasing will require you to go over specific restrictions like mileage and maintance..

 
Oct 9, 1999
15,215
3
81
come to think of it..if it suits u fine.. considering your graduating next year.. lease a nice car with a price upto 300.. will come mighty handy when you find a job. It will dress to impress. You can easily get a G20 lease for less than 300.
 

Soybomb

Diamond Member
Jun 30, 2000
9,505
1
0
Only buy what you can afford. If you buy a new car and make payments you'll need full coverage, just get liability only on the used car if you think you can control yourself enough not to go 100 and roll again. Sounds like you need a bicycle to me ;)
 

OS

Lifer
Oct 11, 1999
15,581
1
76


<< I don't know what to advise you but I'm telling myself that maybe 65MPH max is gonna spare me from a similar dilema. Congratulations on being alive and yea maybe you don't need a car. Get yourself a rubber room. >>



Yeah I'm very much happy to be alive. My college years have been filled with an incredible amount of drama, too damn much. I think I will just take everything (driving included) easy from now on.



<< buy the new car.. trust me you dont want to deal with problems with a 10 year old car. >>



Yeah the more I think it over, the more I think new car. But if I buy a new car, I will get it right the first time, the car will be a keeper, one of those ones that you keep for like a decade and drive until they have 200k+ miles.
 
Oct 9, 1999
15,215
3
81
actually if you get a loan, they willl require you to have full coverage.. new or used doesnt matter.. Unless you pay all of it up front.. you are going to need full coverage.
 

Soybomb

Diamond Member
Jun 30, 2000
9,505
1
0
I just asseumed he had the cash to pay for the 3-4k up front. :)
Honestly for all the times people on here brag about how reliable their hondas are I wouldnt see why he'd worry about a 10 year old honda with 90k, i thought that was just broken in for 'em ;)
 

OS

Lifer
Oct 11, 1999
15,581
1
76


<< I just asseumed he had the cash to pay for the 3-4k up front. >>



yeah I do actually, I have about 3k liquid right now, so buying an 88/89 accord won't be a problem. If I need more, I can sell off my some of my toys and borrow a little from my parents.




<< Honestly for all the times people on here brag about how reliable their hondas are I wouldnt see why he'd worry about a 10 year old honda with 90k, i thought that was just broken in for 'em >>



That's right, just getting broken in ;) I would have to worry about getting the timing belt replaced though, most people don't change theirs at that point. If I buy a 3G accord at 90k miles, I EXPECT to get 50k miles out of it no problems, and probably 100k+.
 

Moonbeam

Elite Member
Nov 24, 1999
67,664
4,264
126
Some smart people say it's better to get a 2 or 3 year old vehicle in good shape and let someone else take the major depreciation hit.
 

OS

Lifer
Oct 11, 1999
15,581
1
76
freak, was just thinking about how hideously expensive insurance would be for a civic coupe.

cost for 1 yr period for each car;

new civic coupe
1k down
12x300=3600
~2k p/year full coverage

6.6k total


3g accord
3-4k flat
300 timing belt
700 p/year liability

4-5k total


Man, what an expensive mess I've gotten myself into :disgust::disgust::disgust::disgust::disgust:
 

Noirish

Diamond Member
May 2, 2000
3,959
0
0
well, if your totaled your car during college and you still have one year to go...buy an used one.
college life could be wild.
you never know what senseless thing you might do next and end up regret it.

buy a new car when you really have a job.
 
Oct 9, 1999
15,215
3
81
you live in So.Cal try &quot;800-772-4AIS&quot; for an insurance quote..see what they come up with. Also if you want consider american cars they depreciate faster (not suv's, but sedans) and a 2 or 3 year old car will be within reach.
 

ManSnake

Diamond Member
Oct 26, 2000
4,749
0
0
I think you should definitely get a used car now(a cheap one) so once you graduate, you will have money to buy a new car that you really like(not just a civic).
 

OS

Lifer
Oct 11, 1999
15,581
1
76
well, if I got the aforemention civic EX, I'd be happy with it and keep it long term.
 

ASK THE COMMUNITY