What does ATOT think about this car?

Pciber

Senior member
Feb 17, 2004
977
1
0
I am thinking of buying a car thursday.. but I am still a little bit indecisive. Right now I am living with my parents (hey, its ok, i'm only 18), and use their vehicles most of the time... but my dad is getting annoyed because his yukon is getting too many miles on it, and he wants it to last (he is disabled due to a hit and run accident, and medically retired. He stopped driving due to the accident.. the yukon makes trips comfortable for him and can hold his wheelchair). I need to get my own car eventually, and i'de prefer to have one when I go to a 4-year university in ~1-2 years (finishing high school and an AA degree at the community college right now). Now seems like a good time to start payments on a car, so I can pay it off sooner. Yes, i could always save up money and buy it with a huge down payment, or entirely in cash, but i wouldn't build credit in the process, and i wouldn't have my very own car to drive, either!

Ok, now on to the car. Its a 1998 Oldsmobile Intrigue (note, thats the exact car).. 102,000 miles on it, 3.8L v6, ABS, 6-cd changer, red... $4000. This seems to be a pretty damned nice car for $4000. I've test driven it, it rides smooth and fits comfortably (i'm 6'6" and 300lbs), and I had my Uncle, a former GM certified mechanic, check it out - he says it looks mechanically sound. He also reccomends the 3.8L engines, as they are supposed to last longer.

for this $4000 car, I would put ~$300 down, and take out a 24-month loan for the rest. Since I have no credit, good or bad, my parents would have to co-sign, and they are fine with that. Payments would be ~$160/month, plus maybe $120 a month insurance (cheaper than normal because its combined with my parent's plan), and ~$40/month gas. So that is $320 a month for this car, and I make anywhere from $360 to $600 a month (after taxes), depending on how many hours I get at Circuit City. I expect that to go up soon, as summer is just weeks away and I will be able to work more hours, plus I might take on a second job at a security company a friend is starting. I think most of my extra money I would just dump into paying off the car faster.

Now, I ask you: Do I really need a car right now? should I save up and keep looking? Is this the right car to buy?

-Dane
 

RaynorWolfcastle

Diamond Member
Feb 8, 2001
8,968
16
81
Strike 1: It's an Oldsmobile. The brand is dead, that's probably not too good for part availability if you do need to make some repairs.
Strike 2: It's got 102k miles on it. I'm not a mechanic, but I wouldn't buy a GM that has 102k miles on it unless it was very temporary
Strike 3: You only have $300 to put down on it? I'd save up a little more and forego the loan.

I say pass on this one.

edited my speeling
 

Malak

Lifer
Dec 4, 2004
14,696
2
0
If you don't really need a car right now, then don't get one. Save it up for a lot more than just $300 down. If you can wait, try to stay out of debt completely.
 

mchammer

Diamond Member
Dec 7, 2000
3,152
0
0
Originally posted by: RaynorWolfcastle
Strike 1: It's an Oldsmobile. The brand is dead, that's probably not too good for part availability if you do need to make some repairs.
Strike 2: It's got 102k miles on it. I'm not a mechanic, but I wouldn't buy a GM that has 102k miles on it unless it was very temporary
Strike 3: You only have $4k to put down on it? I'd save up a little more and forego the lown.

I say pass on this one.

Its ok that its an Olds, most of the parts are the same as in many GM cars. Parts for it should be affordable. As for the miles, I don't think its too bad, provided it was mantained ok and passes a mechanical examination. GM powertrains may not be high tech, but they are pretty solid.

P.S. I have a Ford. Ford pwns j00!!11!
 

NikPreviousAcct

No Lifer
Aug 15, 2000
52,763
1
0
Originally posted by: RaynorWolfcastle
Strike 1: It's an Oldsmobile. The brand is dead, that's probably not too good for part availability if you do need to make some repairs.
Strike 2: It's got 102k miles on it. I'm not a mechanic, but I wouldn't buy a GM that has 102k miles on it unless it was very temporary
Strike 3: You only have $4k to put down on it? I'd save up a little more and forego the lown.

I say pass on this one.

1) GM guarantees part availability for 10 years. :thumbsup:
2) average 15k per year puts this car under mileage by 20k. :thumbsup:

yuo = t3h f4iL
 

Blazin Trav

Banned
Dec 14, 2004
2,571
0
0
I guess it's not bad. Not really my style but not bad.

Used I like:
Nissan 300ZX
Audi A4 2.8
Honda S2000
Jeep Cherokee 4L

Of course, to each his or her own. What was your budget?
 

RaynorWolfcastle

Diamond Member
Feb 8, 2001
8,968
16
81
Originally posted by: Nik
1) GM guarantees part availability for 10 years. :thumbsup:
2) average 15k per year puts this car under mileage by 20k. :thumbsup:
yuo = t3h f4iL

You missed strike 3. Also, there are no provisions for repairs; a car with 102k miles will need to be repaired within 4 years of using it. If he needs a loan to buy, something tells me he won't have too much left over for repairs.

 

Pciber

Senior member
Feb 17, 2004
977
1
0
Originally posted by: KruptosAngelos
If you don't really need a car right now, then don't get one. Save it up for a lot more than just $300 down. If you can wait, try to stay out of debt completely.

thats the thing... just last week my sister came home from college for the summer and started using the same car I have been using.. but she seems to have it in her head that shopping and hanging out with friends is more important than me going to school and work. Apparantly they don't teach common sense at her college.

As for the staying out of debt part.. a bigger down payment would be nice, but I do want to go into debt, oddly enough. Better to build good credit now with a fairly small loan then to need something major later and not have enough credit to loan it.
 

Malak

Lifer
Dec 4, 2004
14,696
2
0
Originally posted by: Pciber
thats the thing... just last week my sister came home from college for the summer and started using the same car I have been using.. but she seems to have it in her head that shopping and hanging out with friends is more important than me going to school and work. Apparantly they don't teach common sense at her college.

As for the staying out of debt part.. a bigger down payment would be nice, but I do want to go into debt, oddly enough. Better to build good credit now with a fairly small loan then to need something major later and not have enough credit to loan it.

Tell your sister to stop being such a jerk, or don't let her have the keys. That's just rude.

I think if your car is taking 50%-90% of your income is just too much, try to get the payments or insurance down. There are programs you can do that lower insurance, and obviously a bigger down payment will help monthly payments. I think a much better way for you to gain credit is to simply get a $500 credit card and use it for purchases, then pay it off at the end of the month. That is safer for you, in case you lose your job for any reason. You never really know. A $20 minimum payment on a credit card is a bit easier to deal with without income than $350 for a car.

Just my 2 cents, having gone through it all myself already.
 

Pciber

Senior member
Feb 17, 2004
977
1
0
Originally posted by: Blazin Trav
I guess it's not bad. Not really my style but not bad.

Used I like:
Nissan 300ZX
Audi A4 2.8
Honda S2000
Jeep Cherokee 4L

Of course, to each his or her own. What was your budget?

something like $3-5k. Those cars are either too expensive, too small, or too gas guzzling.

and Raynor, "strike 3" is mentioned in my previous post. As for the rest of it, I don't know how you treat your cars, but I treat the cars I drive nicely. For the most part, if you keep up with maintence and don't drive it rough, it won't need any major repairs. There is a decent chance of something breaking within 4 years, yes, but probably nothing too major. Also, 98 olds intrigues are rated in "consumer reports" as "decent", for reliability. I passed up another car, a 97 chevy malibu, simply for the fact it was rated badly for repair options. The cars that are rated "super" are really out of my price range, or I can't fit in them well.
 

Dr. Detroit

Diamond Member
Sep 25, 2004
8,143
608
126
Plus side it has GM's tried and true 3.8L s800 Series engien with it's ultra reliable trans.

If you like it and it runs good, the tranny dopesn;t slip and shifts are crisp, BUY IT!




 

OS

Lifer
Oct 11, 1999
15,581
1
76
Originally posted by: Nik
Originally posted by: RaynorWolfcastle
Strike 1: It's an Oldsmobile. The brand is dead, that's probably not too good for part availability if you do need to make some repairs.
Strike 2: It's got 102k miles on it. I'm not a mechanic, but I wouldn't buy a GM that has 102k miles on it unless it was very temporary
Strike 3: You only have $4k to put down on it? I'd save up a little more and forego the lown.

I say pass on this one.

1) GM guarantees part availability for 10 years. :thumbsup:
2) average 15k per year puts this car under mileage by 20k. :thumbsup:

yuo = t3h f4iL

10 years? It's only 3 years until 2008.

 

Pciber

Senior member
Feb 17, 2004
977
1
0
Ok, Heres what I am beginning to think, after reading through all of the replies..

This seems to be the right car to buy, but I need to save money for a little bit longer for a bigger down payment, so I can have a smaller monthly payment.

As such, I think i will wait ~3 weeks to buy it, so I can have ~$600 or so down, plus whatever I get from parents/relatives for graduation :)

Now, in 3 weeks, there a good chance this vehicle will be gone.. its a good vehicle at a pretty big dealership.. i guess i'm just out of luck if its sold before then. I will go there tomorrow and see if i can hold it for a few weeks by say.. putting the $300 I have saved as collateral.
 

BigJ

Lifer
Nov 18, 2001
21,335
1
81
Take into account insurance. In NY, for an 18 y.o. male, after taking Drivers Ed and Defensive Driving, it was still $240/month for insurance on a 98 Ford Escort. And that was under my parent's policy.
 

PeeluckyDuckee

Diamond Member
Feb 21, 2001
4,464
0
0
The car seems like a sound choice but your financial situation is not. Your range of income is between $360-$600 a month and payments alone is $300. That is quite alarming if you ask me. Making a budget is one thing, following through wth it is another.

 

Pciber

Senior member
Feb 17, 2004
977
1
0
Originally posted by: PeeluckyDuckee
The car seems like a sound choice but your financial situation is not. Your range of income is between $360-$600 a month and payments alone is $300. That is quite alarming if you ask me. Making a budget is one thing, following through wth it is another.

Keep in mind, however, I have no other payments. Living with parents has its advantages. I could also extend the length of the loan to 3 or 4 years, but then I may be upside down on it at some point, and I would still be paying it off when I go to a university, which would be a prob as I probably wouldn't have a job for the first few months...
 

Summitdrinker

Golden Member
May 10, 2004
1,193
0
0
98 olds

one car to look into is 1994 to 2001 mercury grand marquis, don't be afraid of buying one those with 120,000 miles on it if it's been taken care of
just watchout for bad intake manifolds on 96 to 98 years only

also checkout this site for car data:
http://www.edmunds.com/

talk your dad into giving or loaning you some money to buy a car if possible

you will burn more gas than you think with anycar, more$$$$ than you think

maybe you need a small economy car that gets good gas milage
 

thomsbrain

Lifer
Dec 4, 2001
18,148
1
0
Originally posted by: Nik
Originally posted by: RaynorWolfcastle
Strike 1: It's an Oldsmobile. The brand is dead, that's probably not too good for part availability if you do need to make some repairs.
Strike 2: It's got 102k miles on it. I'm not a mechanic, but I wouldn't buy a GM that has 102k miles on it unless it was very temporary
Strike 3: You only have $4k to put down on it? I'd save up a little more and forego the lown.

I say pass on this one.

1) GM guarantees part availability for 10 years. :thumbsup:
2) average 15k per year puts this car under mileage by 20k. :thumbsup:

yuo = t3h f4iL

low yearly mileage is a bad thing.

low mileage = good... BUT
low miles per year = bad, for many reasons. for one, the car is older and age related things such as mufflers, belts, paint, dashboard, stereo speakers, rust, etc, will be worse off. second, the car has undoubtably seen more starts per mile (and maybe more starts period), and a higher percentage of cold starts, and a higher percentage of mileage when the car is cold. third, it has probably seen less "stretch" time, where the car is fully warm, running hard, and working the kinks out. forth, per mile driven, the transmission has had to make more shifts and deal with more acceleration/deceleration "cycles." fifth, low mileage drivers do not maintain their cars as well as high mileage drivers, nor do they drive as well, nor do they respect their cars as well.

i would always take a 2 year old 100,000 mile car over a 10 year old 100,000 mile car, even if both cars were identical (i.e. not an updated model). and of course, both cars never are identical since models are updated all the time.