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#1
02-03-2007, 03:00 AM
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Re: Brag or Beat: Just bought a 2007 Yaris
[ QUOTE ]
[ QUOTE ] Not to rub it, but cars are a terrible way for a young person to spend money. [/ QUOTE ] What else substantial is there for someone like me to buy? I think it was a good long term investment. (Been working since I was 16, have good amount saved for college? [/ QUOTE ] Just because there isn't "something else substantial for someone like you to buy" doesn't justify wasting money on a car. There's no rule that states that you have to spend your money on something just because the money is there. The fact that you consider buying a new car a good long term investment shows that you don't have any idea what you are talking about. A car is not an investment. A car is an expense. 
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#2
02-03-2007, 12:44 AM
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Re: Brag or Beat: Just bought a 2007 Yaris
OP, how many miles does this car have?
[ QUOTE ] [ QUOTE ] [ QUOTE ] $300/mth and youre in HS? what do you do for money? and you got a 5 year loan? groan. [/ QUOTE ] I work as a sales associate at Brookstone, @ 175$ a week. And even with that long of a loan, it's still more cost-efficient than buying junkers that I have to pour money into all the time. [/ QUOTE ] No its not. You could buy a decent used honda civic for much less and they are very reliable. I just looked on KBB and a 2000 honda civic with 80K miles and in good condition goes for about 6.5K. Much better deal than spending 19K on a new car that to be honest is not really that much nicer. Not to rub it, but cars are a terrible way for a young person to spend money. [/ QUOTE ] Who wants a Honda Civic, who wants a Civic with 80K on it? Yet alone who wants a car with 80K miles on it. Why is this a bad investment? He's going to learn what a payment is and get some credit. What should he be spending his money on, pot and beer? OP, good investment.
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#3
02-03-2007, 12:53 AM
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Re: Brag or Beat: Just bought a 2007 Yaris
[ QUOTE ]
OP, how many miles does this car have? [ QUOTE ] [ QUOTE ] [ QUOTE ] $300/mth and youre in HS? what do you do for money? and you got a 5 year loan? groan. [/ QUOTE ] I work as a sales associate at Brookstone, @ 175$ a week. And even with that long of a loan, it's still more cost-efficient than buying junkers that I have to pour money into all the time. [/ QUOTE ] No its not. You could buy a decent used honda civic for much less and they are very reliable. I just looked on KBB and a 2000 honda civic with 80K miles and in good condition goes for about 6.5K. Much better deal than spending 19K on a new car that to be honest is not really that much nicer. Not to rub it, but cars are a terrible way for a young person to spend money. [/ QUOTE ] Who wants a Honda Civic, who wants a Civic with 80K on it? Yet alone who wants a car with 80K miles on it. Why is this a bad investment? He's going to learn what a payment is and get some credit. What should he be spending his money on, pot and beer? OP, good investment. [/ QUOTE ] Well the car he bought is not much nicer than a honda civic, other than the fact that its new. He's not gonna be getting laid because of that car. Of course having a new car is nice, but is it really worth 12K more? I guess thats a subjective question, but I think the OP may be regretting his decision 4 years from now when hes still paying this thing off and wants to go on a nice spring break. But if he's getting enough spending money from his parents then this discussion is moot. And a Honda that has been taken care of can still run very well with 80K miles on it. In 1999 I bought my dad's 1990 Accord from him and used it until 2004 with only minor problems. Finally, do you guys undestand what an investment is? Investments are things that are expected to APPRECIATE in value. That car probably lost 1/3 of its value the second he took it off the lot. That's not an investment. Cars are the type of "investments" that one hit wonder rappers make and then go busto in a year
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#4
02-03-2007, 12:47 AM
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Re: Brag or Beat: Just bought a 2007 Yaris
[ QUOTE ]
No its not. You could buy a decent used honda civic for much less and they are very reliable. I just looked on KBB and a 2000 honda civic with 80K miles and in good condition goes for about 6.5K. Much better deal than spending 19K on a new car that to be honest is not really that much nicer. [/ QUOTE ] Forgot to mention that I am planning on eventually selling it when I graduate college, and I think it will have more value then than a 2000 civic would. I'm looking purely at the long-run because I'm working full time during the summer and not having extra money now is ok.
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#5
02-03-2007, 12:49 AM
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Re: Brag or Beat: Just bought a 2007 Yaris
[ QUOTE ]
[ QUOTE ] No its not. You could buy a decent used honda civic for much less and they are very reliable. I just looked on KBB and a 2000 honda civic with 80K miles and in good condition goes for about 6.5K. Much better deal than spending 19K on a new car that to be honest is not really that much nicer. [/ QUOTE ] Forgot to mention that I am planning on eventually selling it when I graduate college, and I think it will have more value then than a 2000 civic would. I'm looking purely at the long-run because I'm working full time during the summer and not having extra money now is ok. [/ QUOTE ] people dont buy new cars for investment purposes. edit: if you bought a $7k civic and sunk @2k in repairs and sold it in 5 years it may be worth $$5k. if you sold your new $19k toyota it may be worth $6-8k. new cars depreciate so much faster than an used car.
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#6
02-03-2007, 12:49 AM
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Re: Brag or Beat: Just bought a 2007 Yaris
[ QUOTE ]
[ QUOTE ] No its not. You could buy a decent used honda civic for much less and they are very reliable. I just looked on KBB and a 2000 honda civic with 80K miles and in good condition goes for about 6.5K. Much better deal than spending 19K on a new car that to be honest is not really that much nicer. [/ QUOTE ] Forgot to mention that I am planning on eventually selling it when I graduate college, and I think it will have more value then than a 2000 civic would. I'm looking purely at the long-run because I'm working full time during the summer and not having extra money now is ok. [/ QUOTE ] That car is ugly and will lose waaaaay more value that a 2000 civic would have.
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#8
02-03-2007, 08:02 PM
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Re: Brag or Beat: Just bought a 2007 Yaris
[ QUOTE ]
[ QUOTE ] No its not. You could buy a decent used honda civic for much less and they are very reliable. I just looked on KBB and a 2000 honda civic with 80K miles and in good condition goes for about 6.5K. Much better deal than spending 19K on a new car that to be honest is not really that much nicer. [/ QUOTE ] Forgot to mention that I am planning on eventually selling it when I graduate college, and I think it will have more value then than a 2000 civic would. I'm looking purely at the long-run because I'm working full time during the summer and not having extra money now is ok. [/ QUOTE ] Wait, are you planning on being in college for over ten years?
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#9
02-04-2007, 03:07 AM
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Re: Brag or Beat: Just bought a 2007 Yaris
[ QUOTE ]
[ QUOTE ] No its not. You could buy a decent used honda civic for much less and they are very reliable. I just looked on KBB and a 2000 honda civic with 80K miles and in good condition goes for about 6.5K. Much better deal than spending 19K on a new car that to be honest is not really that much nicer. [/ QUOTE ] Forgot to mention that I am planning on eventually selling it when I graduate college, and I think it will have more value then than a 2000 civic would. I'm looking purely at the long-run because I'm working full time during the summer and not having extra money now is ok. [/ QUOTE ] you paid too much. new cars = overpriced. you should have found something for around $10,000, which, could buy you something very nice + more cool. it's good that you're building credit, and if you like the car so be it, but you're spending too much money. i would have reccomended a late 90's acura of some sort. acura makes some great cars that hold resale value. lol@ you saying 'eventually i'm planning on selling it when i graduate college' ......really? you're not going to drive it until you're 40? oh, and this thing will be worth about $6K in five years.
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#10
02-03-2007, 12:44 AM
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Re: Brag or Beat: Just bought a 2007 Yaris
[ QUOTE ]
[ QUOTE ] $300/mth and youre in HS? what do you do for money? and you got a 5 year loan? groan. [/ QUOTE ] I work as a sales associate at Brookstone, @ 175$ a week. And even with that long of a loan, it's still more cost-efficient than buying junkers that I have to pour money into all the time. [/ QUOTE ] half of your income is going to your car. car payment + insurance + gas. the price one saves in a used car payment + an occasional repair is usually much cheaper than a new car payment. hang on to your car and make it a wise decision. there's lots of freedom in having a car when youre high school so have fun.
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