Graduated from college with a job last May and finally saved $15k. I am looking to get a car to replace my '95 LeBaron that I absolutely despise. I really really want a TSX, but I am too frugal to throw $30k into a car. I plan to get married and buy a house within 3 years so I will prioritize and not waste too much money. My dad wants me to buy used to save $$ but with the pricing of new cars, I don't think it's worth it to buy used anymore???

Anyways, here's what I look for in a car (in order of importance):
Interior looks and comforts (modern and techie but sophiscated if possible)
Reliability (jap preferred)
Exterior looks (nothing too bland)
Speed (faster the better but not a deal breaker)
Size (prefer small, nimble sedan/coupe - no two seaters)
Price ($15k...maybe $20k)

Here's what on my list so far (random order)
2005 Mazda 3 SP23
2005 Scion tC
2004 Accord Coupe
2003 RSX Type-S
2004 Toyota Camry Solara

I really don't want a first year model car but since most japanese cars had a complete remodeling during 2003-2004, I am stuck with getting a 2005+ car or 2002- car. I would really appreciate everyone's input because I been pulling my hairs out over this. My girlfriend threatens to leave me if I don't shutup about which car to get. I am not in a real hurry but I like time to research and negotiate. Buying time ETA is around April-June.

Note: My girlfriend drives a '99 Saab 95 that she bought in 2002 for $12K OTD. That's the kind of deal I want If it isn't for Saab's horrible reliability, I will be all over a 95 or 93.

 

Put that $15k towards a house/townhouse/condo.

 

first off where are you located then we could help you find specific cars. it appears from your list you dont care whether it is 2 door or 4 door you only care that it is more than a two seater.

I would say you can look at a couple different things.

Acura TL 2nd Gen
Acura CL 2nd Gen
Accord V6 Coupe
Scion TC

 

use at least 10k for home and 5k for car if that is even needed. Or just get a nice used car and finance with nothing down if you have good credit.

 

With how large the used car market it, with some extra time spent on searching for a vehicle, you're bound to find a good one for dirt cheap.

Check your local dealerships and used car lots. Don't bother checking on Ebay for a cheap used car.

 

 

Get a used TL if you plan on having kids anytime soon. Make sure it has low milage because of the tranny problems.

Safety, 6 cylinders, 4 doors, plenty of space for the kids.

 

I've noticed the used RSX's are coming down in price... Saw a bunch on my local craigslist for under 15K...

What ever you buy, you might want to just put down 1/2 of your savings - finance the rest, and invest the other 1/2 till you're ready for a house

Edit: Just noticed your range is 15-20K... New Civic would be at the top of my list in that price range... Tell your dad, it's Motor Trends Car of the Year, class leading resale value (so it doesn't make sense to buy used)

 

Agree 100%. I'd put $10,000 towards the house and use the $5,000 on the car down payment.

An LX sedan costs around $17,000 and in my opinion, a brand new car with a full warranty is worth a hell of a lot more than a used car with less warranty for slightly less money. With the money down you could finance the Civic for around $200 a month, or less depending on your rate.

 

I have a 2nd Gen TL type s for sale asking 17k. see sig for mods and pm me with questions.

 

Used, look for a 99 TL, they don't have as mnay tranny problems or any other problems, get good gas mileage for V^(26MPG on average for me), take very well to bolt-on mods, comfortable, safe, reliable and have tons of standard features and pretty inexpensive to maintain. you can find a solid used one for 10-12k easy.

New- the new Civic is a great car, has everything going for it for a compact econocar. great gas mileage, nice chassis, styling, good performance, plenty of room(for a compact) and resale you know will be great. Oh yeah plus extremely reliable.

 

But then he'd have to put aside about $3K every year for a new tranny...

I'd go with the Mazda 3, especially if it's loaded.

 

2nd Gen TL
- Scared about tranny issues
- Car is a little too big for my taste

RSX
- I always like the RSX and my friend had one for 4 years with no problems whatsoever.
- I think the RSX is overpriced for the features it comes with (even an used one)
- I HATE the hard middle part of the backseat. I hated riding in my friend's RSX

Mazda3
- I am really really leaning toward this car. I can get the Grand Touring trim that comes with leather, heated seats, and HIDs for $21.5k MSRP. If I wait till next Fall, I can probably get it for $20k OTD.
- Unproven reliability...my dad had a Mazda 626 7 years ago and he's scarred for life from bad Mazda reliability and resale value.

Thanks for everyone's suggestion. After hearing some comments about saving the money for a house, I am debating whether I even need a new car. I know what you guys are saying is the right thing to do, but the temptation of a new car or new used car is just so hard to resist. It doesn't help when I see/hear/readabout all these kids getting new $30k car from their parents or financing with ridiculous monthly payments. Part of me say "Life is short so enjoy it" and the other part say "Save Save Save". The latter part helped me paid for my college tuition and living expenses for the past 4 1/2 years so when is it time to "enjoy life"? I see people around me living paycheck to paycheck and blowing their money on car payments, alcohol, and drugs and I wonder if they are happier than I am. Blah....I will stop my rambling. From wanting to buy a G35 coupe to TSX to Mazda3/Scion tC and finally back to driving my LeBaron for a few more years...I dunno....it's hard to decide.

 

The car has about 80k on it and i am still on the original tranny!

 

buy a used rsx-s, they are great little car and a lot of fun to drive.

 

Pretty good used car if you go that route:

2003 CL-S

 

03' 6MT CL-S? They really depreciated fast, but then again, don't expect the resale value to be very good. but it's probably worth it if you plan on keeping it around for a while

stick w/ your lebaron for a while, until you can find a good one, cause they are kinda rare.

 

u finished school and worked for almost a year....time to treat urself, IMO....don't go with something that u know is too extravagant.....but dont put $15k down.

lets say something around $18k...put about 5k down and finance the rest...for 5 yrs u'll prolly pay less than $300/month

 

I thought it's smarter to pay off a car earlier? I hate paying interest for anything unless the rate is lower than what I get for putting it into savings (4%).

 

that won't ahppen if you buy a used car. 5.3% is bottom of the barrel right now for used cars. even 6.-7% is very low for a used car and you can always pay it off early so no big deal. it also will build your credit and make it easier to get a low rate when you buy your house. Now you aren't going to have the same mentality when you buy a house right? mortagage rates will never and I mean never go below 4% for a 30yr fixed. you may get that rate if you go interest only but you are screwing yourself if you plan on living there for a while. Buy a nice car put 10k down and have low payments so you can double or triple up when you have a good month or get extra cash.

 

its always better to pay off something in full

 

Talking about back seats? Buy a four-door.

 

You can get an 02 Maxima for about 14K

 

He wants a 'small, nimble sedan' which unfortunately the 5.5G Maxima is not.

 

mazda 6 fits the bill

 

Me and my brother are trying to get my sister into a new Civic LX sedan... (trading in her 01 Maxima).

The Mazda 3 is another good choice for a new car under 20K.

https://acurazine.com/forums/automotive-news-6/2006-economy-sedan-comparison-test-honda-civic-vs-mazda-3-a-329883/

 

I test drove the Mazda 6s and found it....lacking. I rather get the Mazda3 and save the money.

 

I say make payments on a new civic si then or go drive the scion tc. my friend has one and just added a injen intake and it added a bunch of power that was slighlty missing before. you can now spin the tires even with it being an auto with the added hp and tq. however even without the intake it has a lot of power since it is so light.

 

I did test drive the tC and loved it. Very good low end torque. Love the audio display that can change colors and has IPOD integration. I am debating on the Mazda3 and Scion tC. At first I was worred about Mazda's reliability but they are top ranked in the UK. Are the cars different in the UK cuz Mazda's reliability is ranked pretty low here in the US....

 

hey Ninja,

I was recently in a similar situation as yourself. Just out of college, saved up a little (granted, no where near $15k), and thought I should spoil myself.

I started off thinking used.. then thought a new G6 (gtp coupe).. then TSX! I really, really wanted a TSX.. but I couldn't justify spending that much $ on a car...

anyways, I ended up a a used car.. but one that I really ENJOY. I spent about $13k... which is still a lot, but not quite TSX-level.

The point is, I sincerely believe you should get a vehicle that you ENJOY. you obviously worked hard to get through college and save up some $.. so spoil yourself a little. MAYBE not a TSX... but a new civic (si maybe?) or mazda3 sounds good. Or even a used car that's an upgrade. But you said you hated your old car.. so there is no doubt in my mind that you should get a different one.

I know you're probably worried about saving for the future. But the way I see it, you're probably going to blow some of that 15k down the line on random stuff.. might as well spend some of it now, when you actually have it saved up.. and spend it on something you can enjoy every day! Cars might not be a great investment, financially speaking.. but the happiness you'll have is definitely worth more than $10-20k imo. You're young.. GO FOR IT!

 

I have a 2003 CL-S 6-Speed for sale. $19K

Great deal IMO.

 

It really depends on how your financial status is, how much u r willing to pay per month for a car. I graduated in 02 and purchased an 02 CL brand new, with 10k down and $400 a month. I remember someone telling me you should be saving at least 50% of your salary when you are a recent grad and don't have a house yet. So if you can figure out the math, all the monthly payments(credit card, student loan, gas, food, shopping, drinking, etc) see how much money you have left and then decide what car to get.

I think everyone knows that buying a car is the worst investment you can ever do. But since we all have an interest in cars, we'll most likely buy them anyways as long as it fits in our budget. I think a TSX would fit you if you want one brand new. 02 CL/TLs are about 12-14k now so you can pick one up if u dont mind used cars. Honda accords and camrys are always reliable.

 

Buying a car with that savings is just stupid man. You'll have some serious buyers remorse on a car after 6 months.

On a house/townhouse/condo you'll start building towards equity!

You have plenty of time in life to piss away $$ on a car. Don't do it with savings though.

 

There are plenty of cars in your price range that will reward you.
I do not suggest you purchase a vehicle until you have landed your first job.
After you have landed your first job, I would spend a few hours planning out your next five years. Where you expect to be, what you want, etc. How much you need to save, and factoring reasonable salary increases as you amass more experience.


All that being said, if you purchase a used car from the dealer you can non expect to get more than 6- 7 percent interest rate. You can however realisitcally expect a 20 percent return on investment in the stock market (read up on the bottom five theory).
If your risk little you will gain just as much if not less. Do not subscirbe to an existence of riskless living, this is the one time in your life where you can put it on the line, reward yourself, push yourself, and succeed.. . :0

Btw I graduated from college in summer of 2002. I did not purchase a new car I stuck it out with my pealing paint bmw. I continued to save. In May of 2004 I could of bought my tl in cash, I put down 1/3 placed the rest in the market. (yes google). I got lucky I know.
Had I put all that money ito the tl.... I wouldnt be able to consider what I'm probably going to do in a year or two.. medical school. You never know where life is going to take you, and how it might change. But plan carefully.. and you'll be better prepared for whatever may come your way.


Good Luck.

 

Wow....very good choice with Google stock. I always want to play stocks but I have no experience in that area. I graduated with a degree in Comp Science and started working the day after graduation.

I recently found out my dad's in lots of financial trouble so I will be using my savings to help him out. I am gonna put off my car till another year or two. Thanks for everyone's suggestions!

 

I know your range is 15K...so my suggestions may not be exactly in this ball park...but if I was investing in my first "new car"...I would have on my list....

1. New Honda Civic....I love the Si...but an LX would still be nice.
2. The 2007 Nissan Sentra (It has some great optional features...Bluetooth..etc....and I I like the interior and exterior I saw at the Detriot Auto show)....

I think these two cars offer a great balance of quality, value and style.

 

I just found a 2000 Civic LX 4 door 5speed with 54K miles for $7800. EXCELLENT buy! With gas prices the way they are and an ominous $4/gal approaching this summer the civic is a no loose kinda car.

If you are at a place in your life where are you willing to settle down, get a house/condo/etc. When I was in your position, I wanted to be mobile and choose not to purchase anything. I bought a CL-S for $27K and modded and drove the hell out of it. In the end, it cost me a lot of money and a lot of speeding tickets. If I were in the same position, I would do it again. However, now that I am married with a child and I have settled down, fast expensive cars have taken a back seat to more important things (ie my new house). I also found out something pretty neat. When I had my CL I bought a fun weekend car for $3700. 3 years and 15K miles later, I sold it for $4100. That really has changed my ideas on how I should purchase vehicles.

 

Don't spoil yourself, you are just getting started. Save the money and spoil yourself in a few years, when you are established and bringing in the $$$$$$.

 

Which years have th tranny problems? How significant are these issues? I know a co-working who is looking at TL's, so I just want to give him a heads up.

 

find your own damn car!!



















sorry i just wanted to say that.