I will be graduating from college in May and I will be looking to buy a new, used car. Sadly I will be selling my 05 TL, I wish I could keep it as my DD but unfortunately the sale of my TL will pay for the majority of the cost of the new car. The three cars I am considering are 02-03 996 911 Carrera, 05-06 E46 M3, or an 05 Elise. This will be my daily driver and considering I am 6'3" and the fact that the car will have to go through Chicago winters I have pretty much ruled the Elise out. My price range is between 25-30K with as low of mileage possible. I am leaning towards the M3. Thoughts? Or any other suggestions?

 

Buy a house first.

 

I figured I would get comments like this...

 

911 or elise, These are a little more rare.

 

m3 seems the most practical for daily use in Chicago. LOL @ considering an Elise.

 

All the Elises in your range are going to have 20-25K+ miles on them. Not saying the cars can't cope with that, but def. on the high side for cars of this caliper. Add $5,000 more to your budget & the mileage can drop to under 10,000 surprisingly.

However, DD with this car takes a huge commitment, & the snow will not be easy to deal with.

M3 is probably your best bet. You can pick up near-new ones in your range.

 

As your DD and only car (I assume), I say the M3. I love the E46! Plus you can get a horsepowerfreak turbo!!!

 

I would recommend buying a house first too, but it really depends on your financial situation. If you are able to afford a car payment AND still put away a substantial amount towards the down payment on a home, then yea, buy the car; otherwise, get the house first, then car.

Equity > depreciating asset

Of the three cars I'd have a tough time choosing because they are 3 of my favorites but I have yet to drive any of them. However they each are in a category of there own so cross shopping those three will be tough decision. At least that's my take on it.

 

Never been a fan of the 996 Carreras, I'd get a classic air-cooled 911 over them. But of the three choices, E46 M3 is your best bet, since it's much more practical.

Speaking of practicality, you might want to take that approach to buying a car at all. If there isn't anything wrong with the TL, I'd do as others said and buy a house first, especially if you're not living on your own. Even if you are, buying high-caliber sports cars right out of college isn't exactly the smartest thing to do financially.

Get some cash saved up first so you've got a buffer if things go south, and once you can comfortably afford both a car and a house, start looking.

 

Keep the TL

 

if you're financially stable, single and don't plan on starting a family anytime soon, buy the 996. M3s are too common everywhere. otherwise, if financially stable and want a family, buy a house and keep the TL.

 

Houses don't depreciate?

Not buying a house was one of the best financial decisions I've ever made.

 

Not interested in purchasing a house yet. When I graduate I am buying a sports car as a gift to myself. I know it isn't the best move financially but I believe I deserve it. I figured I am young and it may be the best time to own a sports car....with that being said I can't really decide which would be the better pick between a 911 and an M3. Both have high maintenance cost and I have heard the M's sometimes have problems with the engines regarding VANOS. I have also heard that early 996's have had trouble with engine seals which can be extremely expensive to repair. Anyone know more about either of the two?

 

You got me, they do depreciate. I was trying to make the distinction that a house unlike cars off the lot, have the ability to appreciate.

 

fuck when I graduated and got a job and worked for a year, my present to myself was my 05TL haha and you are looking into 966 and m3s here. You will make baby angels cry driving those cars in the winter, I barely drive my TL now that it's winter.

 

for a what to buy thread in Car Talk that doesnt include buying a house option (do this at your own risk)

1) go to your account
2) hide age
3) wait a month
4) make a new thread and be sure to mention you're 40 and own a house

 

Yes, because having a thread where everyone else instructs you as to what you should be buying is what makes the thread successful.

Being able to take criticism, opinions and whatever thoughts are given to you and make a good decision on your own is the only way to lead yourself to success. Regardless of what information you may think is not necessary for others to know about you even though they are there to try and help you. It's no wonder why so many people are doing crappy these days. They only want to hear what they are looking to listen for regardless if it's the right thing or not.


Back to the OP topic, good luck on the hunt, I don't have any experience with any of those cars, but there are guys on the board that do.

 

+1 on the Elise lol

go with the M3 , you wont regret it

 

i hear you man, no point in buying a house yet, my parents give me enuff space, so its like i have my own house

get the car that you want and be happy , but be careful

im 21 and i own a M3

 

1) Have you test driven each choice? If not, that may eliminate one or more of them.

2) If you're thinking "sports car," then the Corvette, Miata MX-5, Boxster and S2000 should be choices as well (although the Boxster and S2000 may be small for you).

3) Buy a house/condo and keep the TL.

 

read the post again n00b

 

^lol at calling a mod a noob

 

^mods can be noob too. remember 2 in the pooper 1 in the stinker?

 

Keep the TL, buy a house

 

Nice try, but last I checked, not showing information on your account wouldn't have stopped people from using logic in determining the best course of action for someone who had already reported that they were graduating college and wanted to buy a high-end sports car.

Now had he simply said, "I want to buy either x, y or z, what do you recommend", that would have been different.

Even still, there have been numerous threads on the board where people have questioned the posters financial stability when purchasing a car regardless of age to ensure that it was the best course of action for the person. And for the most part, people are receptive to that. The people that aren't, well let's just say they are the ones that are too thin skinned to be on AZ.

If you'll notice, most, if not all of the guys saying to buy a house would be a sound decision, it's from experience and because they are a bit older and were probably thinking the same thing when they were the OP age. I know I thought about buying an expensive car out of college but opted not to. But I wouldn't expect you to understand that either considering your age.

 

That was a a joke, NOOB.

 

Now back to the topic at hand. Why the dislike of the Elise? Is it because of it's impracticality as a daily driver? I know it's a tight fit in the cockpit, but it's not unheard of for some to have it as a daily driver.

 

Keep the TL, and buy a house first. Securing shelter after graduation is the most important thing.

After you do that or by the time you do that, there will be more used luxury cars on the market. If you buy the house now and keep the TL, by the time you want an used car, you can probably afford to buy an used E92 M3. By then the new generations M3 will be on the market.

But yeah, think about the house first, not car. "Having a house and taking the bus is better than sleeping in your car"

 

I think age plays a big factor on how someone would think, but also, some young people out of college or still in college think logically about after graduation.

For me, I would want to move out and have a place of my own. Secure a job and house before thinking about any nice expensive cars.

Even though age plays a big factor on how someone thinks, how someone is taught or raised is another big factor.

 

One's upbringing can play a big role.

 

Don't be a tool.

 

that's exactly what he meant



I didn't know calling someone noob makes them a tool

 

While buying a house does make the most financial sense, its also a very big responsibility financially and while cars do depreciate, the person that drove the car off the lot new took the biggest hit already.

The OP wants to treat himself and if he is graduating from college he has definitely earned it. My vote would be for the M3 which is definitely the most practical both DD wise and maintenance wise. If your not tracking an Elise, its appeal will probably wane relatively quickly. Can't really say much on the 911 but porsches never seemed too practical, even the boxster is a pain in the ass maintenance wise.

 

M3.

 

Just another perspective...driving a 'baller' car such as those suggested can certainly leave a foul taste in the mouths of potential employers/existing coworkers.

If you flash around cash, such as an act like this would do, it can backfire against you in ways you may not anticipate.

 

for sure...it may even stop you from getting a promotion

 

e46 m3, it will be more reliable than a 911 and the elise will make you want to stomp someone in the face if you drive it downtown.

 

 

People saying that "buying a house isn't always the best choice" can be right...

But it's a buyers market right now.

If you really have the urge to rid yourself of a bunch of money, doing it on a house would be a more sound decision IMO than a car. I'll save my soap box extras since I've already done it on plenty of other barely 20 year olds. And others have already said it.

Even though you're planning on selling the TL to pay off the majority of the "new" car, think of the insurance hike you're going to take. A big one. Have you consulted with insurance companies to see what your premiums are going to be? You're in Chicago so I avoid an Elise at all costs since you're getting rid of the TL.

 

I can understand wanting a sports car, but in reality those car's are going to be more of a headache then they will be fun to drive. IMO look at a car that's an UPGRADE in year and miles than looking at a car which is older with higher miles. Have you thought about the TL-S? G37 coupe?

Just remember you will have to pay for maintenance and as well insurance. Any insurance company will charge quite a bit for an M3, esp for folks under 25. As well a car that is 7-8 years old, esp German, is going to cost a good amount of money to keep running. If anything, upgrade moderately or keep the money for the future as the economy isn't so good.