REVscene - Vancouver Automotive Forum


Welcome to the REVscene Automotive Forum forums.

Registration is Free!You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today! The banners on the left side and below do not show for registered users!

If you have any problems with the registration process or your account login, please contact contact us.


Go Back   REVscene Automotive Forum > Automotive Chat > Vancouver Auto Chat

Vancouver Auto Chat 2016 VAC Community Head Moderator: Raid3n

Reply
 
Thread Tools
Old 12-03-2007, 04:12 AM   #1
I contribute to threads in the offtopic forum
 
What_the?'s Avatar
 
Join Date: Nov 2001
Location: Vancouver
Posts: 2,746
Thanked 70 Times in 17 Posts
Car of your dreams vs. the car that is logical... Oh dilemmas

So i'm caught in a little bit of a dilemma here... The time is coming up soon where I will be finishing school this year, and have a job for when I graduate.

I've been in school all my life, so finally coming out and making decent paycheques is going to be a totally new experience, but at the same time, i'll finally have that sense of achievement.

My first large purchase is most likely going to be a vehicle. I currently have a car that although has proven to be more than reliable, there is no denying that it is getting up there in terms of age (~280k kms). Although I can try to hold out as long as I can, buying a car will become an inevitability once anything major goes wrong because I don't want to dump any more money into the car.

I am caught between a car that I love, versus the car that I could live with and makes more economical sense.

The cars in question are the new bmw 3 series coupes, vs. a new honda civic coupe. Not necessarily the top of the lines, but the regular 328 and the civic LX or EX is fine

The price difference is pretty big obviously, and although my mind tells me that I have student loans to pay off and I should go for the civic, the irrational part of me just can't get over the bmw.

I'm sure everyone's been in this situation before... how did you cope?
Technically I could afford either car, so that's what makes it even more difficult. If my dream car was a ferrari enzo or something, then it'd be easier to put those desires aside.

I've done the price calculators over and over, to try and figure out the best financing/leasing options, etc. I don't mind getting used since the two cars are still quite new models, but I would probably have to get it as a used car from the dealer so i can finance/lease it. I thought leasing the bmw would lead to less monthly payments up front, and better affordability while i'm paying off student loans, but then i'd get stuck with the residual payment since I would want to buy it out at the end, and have to finance that remaining portion (so it doesn't seem like such a great deal). The finance payments on the bmw are $1000 a month or so, versus the civic which will be about 500 a month. I've tried budgeting my monthly earnings to fit it in, and although it is theoretically doable, i wont get to buy as much other stuff or eat out as much to compensate.

I've even looked into getting them from the states, and even used in the states, but again that requires me having the full amount up front which I won't have at the beginning of my career.

There's so many things to take into account... Yes I know a car is a depreciating asset, and it is not wise to invest in one at this age. While i'm young, I figure driving a nice car would be pretty sweet as opposed to driving a nice sporty car when i'm 50 and people think that i'm having some sort of mid life crisis. Time when i'm young I can never get back, which is another thing driving this irrationality.

Argh... this is frustrating, i've been checking prices, and planning and thinking and budgeting and I cannot figure out what to do! Although I'm not ready to buy the car until at least summer, I want to make sure I rationalize it all prior, so that I don't make a random impulse buy, but at least a semi-thought out one.

Experiences? Advice?
Advertisement
__________________
My Buy/Sell Feedback 37-0-0
What_the? is offline   Reply With Quote
Old 12-03-2007, 06:15 AM   #2
Revscene.net has a homepage?!
 
Join Date: Dec 2003
Location: Vancouver
Posts: 1,231
Thanked 28 Times in 12 Posts
buy the cheapest car possible that will satisfy you for the next 5 years or so. since you have a student loan to repay, it isn't logical to go deeper in the hole than you need to. there are plenty of cars in the $10-15k mark that are still fairly new and reliable, so choosing one of those may not be such a bad idea. there's more to life than buying a dream car. i was in your situation once, but eventually common sense took over and i scrapped the idea of buying a dream car to save up for my own place.
//RacingSpirit>> is offline   Reply With Quote
Old 12-03-2007, 06:43 AM   #3
I WANT MY 10 YEARS BACK FROM RS.net!
 
Join Date: May 2005
Posts: 20,386
Thanked 7,438 Times in 1,436 Posts
I was exactly the same as you 8 years ago. Dreaming everyday
that I drive a fancy car, picking up friends/chicks, rolling @ 20km/h
and catch people attention. We all have gone through the same
stage in our life. Do whatever that comes to you mind, so you
won't regret when you are in your 30s. My first car: a teg...
second car: a bimmer...then my first bike etc. I never regret how
much I spent on those toys.

I am not going to educate you how you should spend your money
wisely, but I just want you to know a car will never get you
popular. If you want attention, ride a bike or build a kit car or
buy an exotic car.
asian_XL is offline   Reply With Quote
Old 12-03-2007, 07:58 AM   #4
$_$
I subscribe to Revscene
 
$_$'s Avatar
 
Join Date: Nov 2006
Location: Space
Posts: 1,990
Thanked 612 Times in 193 Posts
Quote:
Originally posted by What_the?
So i'm caught in a little bit of a dilemma here... The time is coming up soon where I will be finishing school this year, and have a job for when I graduate.

I've been in school all my life, so finally coming out and making decent paycheques is going to be a totally new experience, but at the same time, i'll finally have that sense of achievement.

My first large purchase is most likely going to be a vehicle. I currently have a car that although has proven to be more than reliable, there is no denying that it is getting up there in terms of age (~280k kms). Although I can try to hold out as long as I can, buying a car will become an inevitability once anything major goes wrong because I don't want to dump any more money into the car.

I am caught between a car that I love, versus the car that I could live with and makes more economical sense.

The cars in question are the new bmw 3 series coupes, vs. a new honda civic coupe. Not necessarily the top of the lines, but the regular 328 and the civic LX or EX is fine

The price difference is pretty big obviously, and although my mind tells me that I have student loans to pay off and I should go for the civic, the irrational part of me just can't get over the bmw.

I'm sure everyone's been in this situation before... how did you cope?
Technically I could afford either car, so that's what makes it even more difficult. If my dream car was a ferrari enzo or something, then it'd be easier to put those desires aside.

I've done the price calculators over and over, to try and figure out the best financing/leasing options, etc. I don't mind getting used since the two cars are still quite new models, but I would probably have to get it as a used car from the dealer so i can finance/lease it. I thought leasing the bmw would lead to less monthly payments up front, and better affordability while i'm paying off student loans, but then i'd get stuck with the residual payment since I would want to buy it out at the end, and have to finance that remaining portion (so it doesn't seem like such a great deal). The finance payments on the bmw are $1000 a month or so, versus the civic which will be about 500 a month. I've tried budgeting my monthly earnings to fit it in, and although it is theoretically doable, i wont get to buy as much other stuff or eat out as much to compensate.

I've even looked into getting them from the states, and even used in the states, but again that requires me having the full amount up front which I won't have at the beginning of my career.

There's so many things to take into account... Yes I know a car is a depreciating asset, and it is not wise to invest in one at this age. While i'm young, I figure driving a nice car would be pretty sweet as opposed to driving a nice sporty car when i'm 50 and people think that i'm having some sort of mid life crisis. Time when i'm young I can never get back, which is another thing driving this irrationality.

Argh... this is frustrating, i've been checking prices, and planning and thinking and budgeting and I cannot figure out what to do! Although I'm not ready to buy the car until at least summer, I want to make sure I rationalize it all prior, so that I don't make a random impulse buy, but at least a semi-thought out one.

Experiences? Advice?
if your doubting, then wait off a bit. life is full of surprises, and if your going to be living paycheck to paycheck, what if something really comes up and you really do need the money? might as well play it safe, wait for a bit. cars only get better and faster, and you just keep earning more money =)
$_$ is offline   Reply With Quote
Old 12-03-2007, 08:36 AM   #5
Willing to sell body for a few minutes on RS
 
RacePace's Avatar
 
Join Date: Feb 2002
Location: Richmond
Posts: 11,187
Thanked 1,320 Times in 331 Posts
The gas that you have to pay is also double, from about 140 a month to 280 a month.
__________________
Quote:
Originally posted by Girl
^ Yes it's sad when you stare at the shape of my penis through my overly skin tight jeans and not help but feel like a shameful little boy compared to me.
RacePace is offline   Reply With Quote
Old 12-03-2007, 09:18 AM   #6
nuggets mod
 
freakshow's Avatar
 
Join Date: Feb 2002
Location: richmond
Posts: 7,044
Thanked 3,782 Times in 977 Posts
buy a nice, used, lower priced car (~$20K), and save up..
I'm sure you don't wanna live paycheck to paycheck just to drive a new bimmer..
You can get some nice used cars for ~20K, and then save the rest so you can jump straight to M3 or something later.
__________________
I searched for truth, and all I found was You
freakshow is offline   Reply With Quote
Old 12-03-2007, 09:33 AM   #7
regulator
 
jigga250's Avatar
 
Join Date: Apr 2001
Location: Houston, TX
Posts: 5,738
Thanked 250 Times in 102 Posts
fuck it, you only live once, get the bmw
__________________
Quote:
Originally posted by Mr.HappySilp
^^ I think u seen jeus..... Lol. u shouldn't be scare of jeus.
jigga250 is offline   Reply With Quote
Old 12-03-2007, 10:55 AM   #8
G'd up! w000weee
 
mmmk's Avatar
 
Join Date: Jan 2002
Location: Vancouver
Posts: 4,140
Thanked 225 Times in 84 Posts
i'd say go with the civic. u dont wanna living with a larger debt.

although i dont have a debt, i cant imagine how others cope with it (esp when it's 15g's+)
mmmk is offline   Reply With Quote
Old 12-03-2007, 11:36 AM   #9
What hasn't Killed me, has made me more tolerant of RS!
 
Join Date: Apr 2005
Location: Vancouver
Posts: 186
Thanked 13 Times in 7 Posts
Maybe consider leasing an economy car for a few years until your debts are paid off before making the jump to purchase a nicer car? The Civic, for example, has had some pretty aggressive lease rates in the last couple months. All trims (DX to Si) are at 1.5% from 24-60 months, which is quite low for Honda.
__________________
Victor Chow (Elder_MMHS)
Elder_MMHS is offline   Reply With Quote
Old 12-03-2007, 11:37 AM   #10
RS Licensed Vendor
 
Cman333's Avatar
 
Join Date: Apr 2001
Location: 604
Posts: 14,501
Thanked 995 Times in 327 Posts
I opted for the BMW.

Seriously a matter of your priorities. I wasn't in the same situation, I had no loans back then.

I'm in a similar situation now, but took the more economical route. Leasing a car isn't a good thing, unless you can write it off. Cuz in the end, you still have nothing after you spend all that money.

If you can safely put aside approx 1K a month for car payments and still get by then go for it. Only live once, I loved the bimmer I had. Awesome handling car. Just remember, once you get to that kind of car, its VERY hard to go back to economy cars.
__________________
BPG AUTOSOUND
#8-2900 Smith St
Richmond, BC
604.278.4142

sales@bpgautosound.com
Cman333 is offline   Reply With Quote
Old 12-03-2007, 11:40 AM   #11
I contribute to threads in the offtopic forum
 
What_the?'s Avatar
 
Join Date: Nov 2001
Location: Vancouver
Posts: 2,746
Thanked 70 Times in 17 Posts
I agree with what most of you are saying to hold off (my logical side)...

The whole bmw thing was just the "want" side of me kicking in...

Just to clarify, getting the bmw shouldn't put me in a going from paycheque to paycheque situation. Even if i get it, i should still have money to save/invest/spend... just 500 less per month due to the additional cost of the bmw.

I also have thought about getting a used nice car in the 20k range, but that again requires coming up with 20k as a lump sum which would take time to accumulate... As opposed to just coming up with a down payment for the others.
__________________
My Buy/Sell Feedback 37-0-0
What_the? is offline   Reply With Quote
Old 12-03-2007, 11:43 AM   #12
I contribute to threads in the offtopic forum
 
What_the?'s Avatar
 
Join Date: Nov 2001
Location: Vancouver
Posts: 2,746
Thanked 70 Times in 17 Posts
Oh one more thing... Another thing that popped into my head was that in about 3 years my gf will be graduating, and I know she'll want to get married around that time (if we're still together).

Weddings cost money! I'm concerned about what happens if I held off, and then I end up having to spend my BMW fund on a wedding and ring, then I would just keep pushing it back to the point that i'm like 35 before I get it. Whereas if I got it now, I would deal with the wedding costs at that particular time...

edit: and as for the bike, I would get one if I moved out of town to a quieter area to live... but here in busy vancouver, i'm paranoid that someone will nail me and kill me since it's so much busier... So that doesn't work so much
__________________
My Buy/Sell Feedback 37-0-0

Last edited by What_the?; 12-03-2007 at 11:44 AM.
What_the? is offline   Reply With Quote
Old 12-03-2007, 11:46 AM   #13
Willing to sell body for a few minutes on RS
 
Great68's Avatar
 
Join Date: Mar 2002
Location: Victoria
Posts: 10,396
Thanked 4,768 Times in 1,750 Posts
I don't know if you have factored this into your budget, but a BMW will undoubtedly cost you a LOT more in annual insurance as well as more in maintenance.

Fancy daily drivers are over-rated anyways. The best thing about a crappier car is that you worry less about it, ie: when you park, if someone dings you etc etc.
__________________
1968 Mustang Coupe
2008.5 Mazdaspeed 3
1997 GMC Sonoma ZR2
2014 F150 5.0L XTR 4x4

A vehicle for all occasions

Last edited by Great68; 12-03-2007 at 11:49 AM.
Great68 is offline   Reply With Quote
Old 12-03-2007, 11:58 AM   #14
I contribute to threads in the offtopic forum
 
What_the?'s Avatar
 
Join Date: Nov 2001
Location: Vancouver
Posts: 2,746
Thanked 70 Times in 17 Posts
I figured it'd be a bit more, but didn't have any concrete numbers... Anyone have any concrete numbers for me about the insurance differential?
__________________
My Buy/Sell Feedback 37-0-0
What_the? is offline   Reply With Quote
Old 12-03-2007, 12:03 PM   #15
Revscene.net has a homepage?!
 
cody69's Avatar
 
Join Date: Jan 2004
Location: richmond
Posts: 1,205
Thanked 14 Times in 8 Posts
get honda, save extra 500 a month for buy-out. buyout honda and sell when u have more money, buy nicer bimmer then a base model.

also why not check out some of those new mazdas, they are sweet, well priced, easy to sell later ect...
cody69 is offline   Reply With Quote
Old 12-03-2007, 12:27 PM   #16
I am Hook'd on RS
 
Balthazar's Avatar
 
Join Date: Aug 2007
Location: Slurrey
Posts: 69
Thanked 0 Times in 0 Posts
And I know you look at your budget and it looks like you can work the BMW, but your budget is wrong. There's always things that pop up. Always. Not always big things either. A lot of it is nickel and dime stuff that adds up.
Balthazar is offline   Reply With Quote
Old 12-03-2007, 12:30 PM   #17
I contribute to threads in the offtopic forum
 
dinamix's Avatar
 
Join Date: Jan 2003
Location: Vancouver
Posts: 2,674
Thanked 599 Times in 232 Posts
you only live once
get the beeemer
take the bus
__________________
:lol
dinamix is offline   Reply With Quote
Old 12-03-2007, 01:44 PM   #18
RS Veteran
 
fukamoto's Avatar
 
Join Date: Feb 2002
Location: Boston
Posts: 15,207
Thanked 1 Time in 1 Post
You're only young once.
__________________
2004 World Rally Blue Subaru Impreza WRX STi - 450HP @ 21.5 PSI
fukamoto is offline   Reply With Quote
Old 12-03-2007, 02:55 PM   #19
d1
I *Fwap* *Fwap* *Fwap* to RS
 
d1's Avatar
 
Join Date: Aug 2006
Location: Vancouver
Posts: 1,599
Thanked 492 Times in 125 Posts
You can always get something inbetween a 3 coupe and a civic. GTI for example.
d1 is offline   Reply With Quote
Old 12-03-2007, 03:07 PM   #20
I don't get it either
 
Join Date: May 2005
Location: Richmond
Posts: 2,935
Thanked 198 Times in 62 Posts
what major you gonna be graduating in? have you had any job offers? are you settled on where you going to live? do you now how much more it costs to live after college life?
Boostaholic is offline   Reply With Quote
Old 12-03-2007, 03:31 PM   #21
To me, there is the Internet and there is RS
 
penner2k's Avatar
 
Join Date: Jan 2002
Location: Delta
Posts: 15,911
Thanked 765 Times in 228 Posts
Quote:
Originally posted by What_the?
Oh one more thing... Another thing that popped into my head was that in about 3 years my gf will be graduating, and I know she'll want to get married around that time (if we're still together).

Weddings cost money! I'm concerned about what happens if I held off, and then I end up having to spend my BMW fund on a wedding and ring, then I would just keep pushing it back to the point that i'm like 35 before I get it. Whereas if I got it now, I would deal with the wedding costs at that particular time...

edit: and as for the bike, I would get one if I moved out of town to a quieter area to live... but here in busy vancouver, i'm paranoid that someone will nail me and kill me since it's so much busier... So that doesn't work so much
if that is the case dont get yourself in to debt..
you dont wanna be going into marriage with a bunch of debts.. that is the easiest way to ruin a marriage and end in divorce...
__________________
The harder I lift and the more I eat, the better my genetics seem to get.
penner2k is offline   Reply With Quote
Old 12-03-2007, 03:39 PM   #22
My homepage has been set to RS
 
Noizz's Avatar
 
Join Date: Jan 2005
Location: Burnaby
Posts: 2,107
Thanked 261 Times in 71 Posts
Quote:
Originally posted by Illuminate
The gas that you have to pay is also double, from about 140 a month to 280 a month.
QFT, i pay $140 a month for gas on my 95 civic

Quote:
Originally posted by What_the?
edit: and as for the bike, I would get one if I moved out of town to a quieter area to live... but here in busy vancouver, i'm paranoid that someone will nail me and kill me since it's so much busier... So that doesn't work so much
getting a bike is one of the greatest things u can do for urself, i don't regret buying mine, its not as bad as u think, ride more safely on your side, but anything can happen whether ur on ur bike on in a car


get the honda! 0.9% financing right now, have fun with your bike during the sunny days, and drive ur econobox when ur not! its a good compromise, but for me right now it SUCKS.... but i'll be the happiest kid 4 months from now

plus ur getting married soon so i would save up for that!
__________________
If you always do what you've always done, you will always get what you've always got.

feedback
http://www.revscene.net/forums/showt...ighlight=noizz
Noizz is offline   Reply With Quote
Old 12-03-2007, 03:43 PM   #23
private modder
 
Eff-1's Avatar
 
Join Date: Feb 2002
Location: North Shore
Posts: 6,727
Thanked 2,620 Times in 734 Posts
Honestly, it's not easy to answer this question until you disclose your monthly income and your living arrangements. Then at least people who are in similiar situations can tell you what's realistic and what's not.

Also, in case you didn't know, you can always finance a used vehicle through your bank.
Eff-1 is offline   Reply With Quote
Old 12-03-2007, 03:56 PM   #24
I Will not Admit my Addiction to RS
 
Hustler604's Avatar
 
Join Date: Sep 2005
Location: Port Moody
Posts: 576
Thanked 51 Times in 14 Posts
ok well i have a few thoughts, might not be that experienced with the situation, but here goes:

im thinking this, the 500 that you think your gonna be spending extra with the bimmer is actually, i might be nuts, but more like 750-1000. Insurance will be a lot more expensive. Also, most likely driving a bmw your gonna want to go out more, show it off (nothing wrong with that!!) but when your out and your girl is hungry, someones gotta pay for food

if you are going to just lease, dont. Unless you figure your going to buy it out, that 1000 a month is GONE. like GONE GONE.

so maybe wait it out, if putting down 20grand is tough right now, even if its tough for like 6mths. wait it out. when your ready, really ready, get the bmw with your bmw paycheque!!

if you feel like you can wait half a year and save up, it doesnt seem like you have to pay a mortgage or anything, so id say try to save up like mad and get that bimmer asap!!

you dont want to get something that you dont really want, especially when its gonna cost you around $25k (the civic)

goodluck!
__________________
- 2016 S4 (wifey's whip)
- 2013 335xi-M F30 (family sedan)
- 2011 335is-M E92 (weekends only!)
- 2006 325i E90 (sold)
- 2003 Touring 350z 6spd Twin Turbo (summer love)
- 2000 Prelude Greddy Turbo (sold)
- 1998 Eclipse Spyder GS-T (sold)
- 1993 Grand Prix GTP (sold)
- 1989 Bonneville SSE (my first love!! sold)
Hustler604 is offline   Reply With Quote
Old 12-03-2007, 05:44 PM   #25
Marcosexual Fan Club, CEO
 
Marco911's Avatar
 
Join Date: Jun 2005
Location: US Bush-country
Posts: 7,741
Thanked 823 Times in 284 Posts
Without knowing how much income potential you have, it is impossible to say. Are you living at home? What type of career are you getting into? What will your average salary be?

I bought a Porsche 911 when I was 28 and I don't regret it one bit. It's brought so much fun and enjoyment. You're young only once, and if you can financially swing it, and have a bright career ahead of you, have fun.
__________________
Poor is the man whose pleasures depend on the permission of another.
Marco911 is offline   Reply With Quote
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off



All times are GMT -8. The time now is 10:00 PM.


Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.
SEO by vBSEO ©2011, Crawlability, Inc.
Revscene.net cannot be held accountable for the actions of its members nor does the opinions of the members represent that of Revscene.net