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YACT: Need Advice

D

dave127

Senior member
Ok, so here's the story: I have a 99 grand am se, that my dad got me for a really good price (lets just say less than 7000) with about 42,000 miles on it, in september 2002. Right now, i can sell the car for just about if not more than i paid for it. I really was looking into possibly buying a 98 volvo s70 t5 for about 10,000, so i would only be paying 3,000 out of my pocket for it (easy to pay off with summer/fall job here at school). Is this a worthwhile investment, or am i better off saving my money and buying a car when i graduate college (i'm only finishing up my freshman year right now)

Any advice is appreciated

thanks,
Dave
 
The car you have is relatively dependable with low miles and paid for?

KEEP IT

Enjoy your college years of blowing money on other crap (chicks and beer) and drive the Grand Am until the wheels fall off.
 
Originally posted by: dave127
Ok, so here's the story: I have a 99 grand am se, that my dad got me for a really good price (lets just say less than 7000) with about 42,000 miles on it, in september 2002. Right now, i can sell the car for just about if not more than i paid for it. I really was looking into possibly buying a 98 volvo s70 t5 for about 10,000, so i would only be paying 3,000 out of my pocket for it (easy to pay off with summer/fall job here at school). Is this a worthwhile investment, or am i better off saving my money and buying a car when i graduate college (i'm only finishing up my freshman year right now)

Any advice is appreciated

thanks,
Dave
Click to expand...

first of all cars arent an investment.....

second i'd sell the grand am while its still worth something and buy something you can get a great deal on (30-40% off blue book). that way youll have equity of more value and wont lose money as your depreciates
 
well the deal is, i basically dont have to worry too much about maintence and parts, as my dad is a mechanic and owns a shop, not that i dont have to pay wholesale price for parts, but other than that its not a big deal...i have heard stories about electrical probs with the volvo's though...for the record, the only thing ive done to the grand am is have it inspected and change my oil every 3000 miles....considering its in relatively good shape and not been in an accident, its still a nice car
 
buying a house is def a plan, but i do think its sort of crazy to attempt to buy a house right out of college when you're not sure how stable your job is going to be...i think the first purchase i make out of college is going to be a car, which is crappy from the standpoint of investment....but right now, considering im looking into the health insurance industry, im really not so sure what jobs are going to be like if health care gets to be socialized
 
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