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Okay, where to begin.... I'm looking to finally move out after I graduate next May and in my current situation with the SS and payments, insurance, etc, it's going to definitely limit my possibilities. Right now, combined car insurance and payment is around $618 a month and I'm just making by, working part time and gonig to college. I am looking to by some kind of Condo/townhouse (prolly slightly used-$100k).
With this fact, I am probably goign to put my SS ownership on hiatus for some time until I sort my finances out. I'm thinking my 01 will will possibly get $23k (have no clue about the market right now) Yes it's been in an accident (clear Carfax though).
If you all were in this situation, what would you do, and what would you get as a replacement vehicle in replace of the SS. It's going to be VERY hard to let it go if I do decide that is my best decision. I konw one day I'll own one again, but I think moving out is a higher priority, at least in a year.
So what kinda of car would you get? (my main question) I guess I'm looking to get something under $15k. I'm open to any opinions by you guys since we're all part of da family. Sorry this was long, but I've just been thinking about it more and more lately. Thanks a lot guys and gals!
-------------------- 2004 Cavalier LS Sport Coupe Manual,Sunroof,16" Chrome, Zaino!!! http://community.webshots.com/user/pazbich3 Used to Drive: 2001 Camaro SS #3220 Posts: 2651 | From: Enola (Harrisburg Area), Pennsylvania | Registered: Jan 2002
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The most important thing would be to finish school and if necessary sell the SS like my son did with his 30th Anniversary Z28.
Posts: 5682 | From: Dearborn,Mi. | Registered: Feb 2002
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Have you looked into what a $1000 beater car would cost to drive as your primary car and put your SS as your secondary, low mileage pleasure driver? When I was strapped for cash after college, I was able to have a cheap driver for a good insurance rate and my "nice" car as the secondary. The combination of the two cars under the multi-car discount came up less than just having the nice car as the one and only car in the household.
If you're buying a condo, you might consider a room mate to help w/the cost of your living expenses. Divide it down the middle and split the utilities and you should be able to make it.
One other thing that helped me in college was to get a job at my favorite restaurant. It kept me from spending my food budget money, so that was a savings. By working both lunch & dinner, I got two meals a day there, considerably cutting down my grocery bill. The tip money I got made my car payment (so it was only $125/mo, but it helped).
Think of at least 5 different ways you can cut something somewhere or find an alternate resource for it and I bet you'll be able to keep your SS. By doing that over the years, that's what has helped us accumulate our cars, house, garage and buy a business. Scrimping and saving in some places, cutting corners in others, and just plain hard work and long hours when needed.
Good luck to you! Don't worry, even if you sell the SS, you'll always have a home here.
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Thanks a lot Teri...appreciate it alot. Right now, I'm fine with finances and such, just amking by, but cant save up. IT's nice to live at home and dont have to pay for anything while going to college!
Of course there are too many if's and's & but's next summer if/wehn I move out. Such as how much I'll be making at a full time job, and what the total cost for moving out will be (monthly basis). I beleive that selling my SS will be a last stitch effort to be able to move out and buy a place. I dont belevie in spending on rent as you can almost buy a condo for a reasonable price for the same payment. But anyways, I know what you mean about scrounging and saving here and there, it all adds up. Maybe I'm looking too far in the future.
So far, IF I have to get a different car, Perhaps a 98 Camaro (v6 or v8),newer cavalier (used to have a 99 Z24 convert and liked it), or Saturn SC2 (2000-2002). My list of possibilitles so far, although wont compare to my SS now
Greg, I agree with you 100%. College eduation comes first in my book as well. One more year to go to get my BA, cars and other things come a distant 2nd.
Thanks all. Posts: 2651 | From: Enola (Harrisburg Area), Pennsylvania | Registered: Jan 2002
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Dan, live at home for as long as you can (even if there are rules) especially if the parentals don't charge you to live there. Try to pay off the SS as quickly as possible while you are working part-time. You can do this by making an extra $100.00 - $150.00 payment towards the principal balance every month, you would be suprised at how fast it will be paid off just by doing this (I am doing this with my house payment). Also, you may want to consider doing what I do is when I make a deposit. I don't put the actual deposit amount in the register. For instance, if I deposit 350.00, I only put that I deposited $250.00. That way, I think I have less than what I do. I have been doing this since I was 15 years old. At 30, I had enough in my checking to purchase a new car and pay cash.
Posts: 204 | From: Mechanicsville, VA | Registered: Jan 2002
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Dan I am inclined to agree with leadfut here. Try living at home as long as you can where after graduation you would be able to save money and let it grow for a while. I don't know how old you are or how quickly you want to leave but trust me in this day and age it would definately be in your interest to live at home as long as possible. Helping your parents out around the house and doing other odds and ends for them will benefit you and them. I hope this helps with your decision and good luck. Posts: 2841 | From: Westland, MI | Registered: Apr 2003
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Thanks guys....yeah...it is nice living at home, not too many rules. And I just turned 22 and will be 23 when I graduate. The catch is that once I stop going to school, I am going to have to pay them anyways, forgot to mention that. I'm a finance major, so I know my stuff when if comes to that, and good ideas leadfut about the bank account. I've heard of that before! I work for a bank as well so it's kinda hard to do that, hehe.
But my viewpoint, is that with the SS, I'm JUST making by each month, and, although the car is worth it, not sure if it will benefit me in the future (a year from now). Though I must say, I've met so many great people so far, as well as learned A LOT! After I got out of work and drove my car home, it's REALLY hard to see it go. I mean, I know you all are car fans and such, and I have turned to one since owning my SS for 1 1/2 years. But anyways, thanks for all your viewpoints and suggestions so far, I really do appreciate it.
Posts: 2651 | From: Enola (Harrisburg Area), Pennsylvania | Registered: Jan 2002
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quote:Originally posted by DanPazich: The catch is that once I stop going to school, I am going to have to pay them anyways, forgot to mention that. I'm a finance major, so I know my stuff when if comes to that, and good ideas leadfut about the bank account. I've heard of that before! I work for a bank as well so it's kinda hard to do that, hehe.
Dan, How much are you going to have to pay the parentals??? I am sure what they are going to charge you is alot less than a mortgage payment. As far as you working for a bank, don't set the account up at the bank you work for. Set it up at another bank that way you won't be inclined to look at your balance. Also, don't look at the bank statements each month. You would really be suprised at how much you can save. I have already saved alot by doing that and remember I took a BIG withdrawl to pay for my SS in cash and not owe anything to GMAC. Me personally, if I had it to do all over again, I would lived with the parentals and lived the cushy life. Take advantage of it.
Posts: 204 | From: Mechanicsville, VA | Registered: Jan 2002
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ok well...being in almost the same situation this is what i am doing.....the camaro is for sale as u all know....and i have the grand am that is 270 per month on a lease...but i would have chosen the new cavalier if i knew it was going to look so cool....and its cheap to own one!!!!!!! Dan if u need pricing let me know and i might be able to help u get a good deal here at the chevy dealer i work for. and even though they "say" the insirance is cheaper if u get a beater it really isnt......i still pay alot for both cars and the camaro is listed as pleasure driven under 5k per yr...so it dosent help that much for young people these days!
but let me know and ill help u in any way i can!
Posts: 924 | From: new york | Registered: Feb 2002
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Thanks Erin. There's no way I'm getting a 2nd car at this point. I beelvie I am goign to hold on to the SS until next spring casue nothing is going to change. Once it gets closer, I'll have to see.
Yes, living at home has many advantages, although at the same time, moving out and living on my own certainly has some nice ones as well. Belevie me, I"ll stay home until I'm financially ready. I'm not one of those that is going to go rent a shack just to get out of the house. My parents are great anyways for letting me stay at home. And I plan on doing the same for my children as well some day.
I'll think of you Erin though wehn I'm in teh market for a different car if that day comes, right now, I guess it's too far away. You dont live too far anyways! (Hopefully we can have a getogether sometime this summer?!?!)
It's gettin late, so I'll talk to ya all tomorrow at work. Night Posts: 2651 | From: Enola (Harrisburg Area), Pennsylvania | Registered: Jan 2002
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Dan I totally respect you as you have a very good head on your shoulders. It is always good to look ahead and plan. I believe staying at home and paying your parents will be a lot less than owning a condo right away. But I do see your point of view of wanting to get out on your own as well. Take your time and think it over.
Ah to be 23 again. Those were the good old days. Posts: 2841 | From: Westland, MI | Registered: Apr 2003
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OK....I think the trick here is if you do get a beater..The SS goes on showcar insurance...They allow you to do carshows,cruise nites and....Maintenance drives up to usually 2500 miles/year. You are not supposed to use it for work or real transport, groceries etc...Last I looked it cost about $1.40 or so per hundred dollars of agreed value for a newer non-classic car..that might be different now but I assume about $320 per year in your case...Just a thought...
Posts: 191 | From: Hudson Valley New York | Registered: Sep 2002
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Dan, I pretty much agree with what most have already stated. To emphasize some points others have already made: If your parents are not 'pushing' you out, ...then stay. Anyone would expect them to charge you 'rent', but it will sure be a LOT less than a condo payment/apartment rent (probably less than half). Take the other 'half' and either bank it or pay-down/pay-off the SS. Help your parents out as much as you can, mow the grass, trim the shrubs, paint the house, ...whatever. Make your staying home a convenience for them. I (as well as everyone else) can understand the 'freedoms' of being on your own, and wanting to 'get out on your own', ...but when you add up all the expenses (on top of your condo payment), ...it adds up, ...fast.
Posts: 1046 | From: Pine Bush, NY USA | Registered: Aug 2001
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And don't forget the ultimate incentive....keeping the SS!! Dan, take it from some of us "older" (but still young looking ) guys. Do what ever you have to do to save that car. How I would love to have the cars that i owned when I was in my 20s.
BTW, what are you up to this weekend?
-------------------- 02 SS vert 35th LE #2790 of 3369, M6 SLP 345HP CME, 97 SS vert 30th Annv. M6 stock, 96 Z28 vert. A4 stock Posts: 339 | From: Philadelphia | Registered: Jul 2002
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Oh come on Glenn! What are you talking about...you and Mary aren't old! And yes, tons of benefits with the SS..mainly the meeting of members like you all! No plans really, except Saturday I work and that night will be busy
Yes, I agree, it wont cost much living at home.I guess I'll have to see. Selling the SS will be the worst case scenario. And as long as my parents want me home, I'll probably stay home until I can move out, comfortably. I'm not sure about the 2nd car as of right now. It would be quite hard not driving her every day, but it's better than not having her at all. I might call up my insurance and see what the pricing would be (need to call them anyways).
Posts: 2651 | From: Enola (Harrisburg Area), Pennsylvania | Registered: Jan 2002
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here's my $.02, Dan: $.01 -- i had to sell my '72 SS back in '79 (long story...); i have regretted it ever since....and only just last september was i able to buy another SS -- that's a looooong stretch between SS's
$.01 -- my son will be a senior next year & i can't stand the thought of him moving out!! your mom probably feels the same way....so keep your mom happy! (until you can pay off the SS!) Posts: 3236 | From: Dallas, Texas | Registered: Nov 2002
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Your parents arn't in a hurry for you to leave. So get off your but from behind your computer & make the last COUPLE of years a pleasure. Eat with the grown ups, have an adult conversation. Who's to say that the rent payment to the parents won't be given to you as a gift for a down payment or a wedding gift!!!!! Ma Me
Posts: 1 | Registered: Jun 2003
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Actually I wanted to email the thread to show her, this my parents are integral part of my decision as well. Posts: 2651 | From: Enola (Harrisburg Area), Pennsylvania | Registered: Jan 2002
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One thing that I didnt see mentioned were the Bils if you move out (gas electric,phone ect) they can all add up. The range can be from $100 in the summer (forger the A/C) to over $500 in the winter. Then you have insurance and taxes to name a few.
You do have a good start in not wanting rent just go slow and take your time it will all work out in the end
Try to keep the SS this is what I geve up to pay bills .It took allmost 25 years for me to get another. BUT I got one
[ 24. June 2003, 11:33 AM: Message edited by: 35TH ED/ed ]
Posts: 3091 | From: Canton Mi. | Registered: Oct 2002
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