"I have been awarded the 25k in scholarships and therefore can use some of my college fund for the car. "
If you have to use that money, spend $12,500 for a new “used car” and donate the other $12,500 to a deserving family who by no fault of their own find themselves in desperate transportation needs because of the economy…you won’t have to look hard.
Each year as you advance in your engineering program, you may find inventive ways to keep both cars running.
You’ll feel a lot better for it.
I plan on driving this car until it quits, so I want to go ahead now and get what I really like in a car so that 10 years from now I will still like it. Although I plan on civil engineering and not mechanical, I hopefully will be able to learn how to work on it and make sure that it does stay in good condition. The Mazda3s Grand Touring just has those nice features that will keep my friends and me comfortable and safe on the three hour trips back and forth between home and college once or twice a month.
4 bus tickets will do the same…
But your grammar is very good, so I respect your opinion.
Dagosa, Do You Really Do That? When You Need A Car, You Get two, One For You And One For A Stranger? Wow!!!
You advocate, “If you have to use that money, spend $12,500 for a new “used car” and donate the other $12,500 to a deserving family who by no fault of their own find themselves in desperate transportation needs because of the economy…you won’t have to look hard.” This type of redistribution of wealth would solve any problems the economy is creating.
I like the fact that you do this voluntarily.
Dagosa, How Is Bus Travel These Days?
You must use this means of transportation, based on your recommendation. Is it comfortable and convenient? Would buying four tickets to the same destination and back really be more economical than sharing one small car? About how much could be saved? I don’t know, I never use bus services.
Buying 3-5(depending on how many friends plan to ride with me) bus tickets for a six hour round trip one out of three weekends or so seems a bit inconvenient. I will have to buy my own car eventually, so why not do it now before all these road trips start happening.
With the economy the way it is, automakers are losing money and may cut back on quality later on.
Stalrunner, I Agree. Here’s Something To Think About.
Many people naturally take out loans to buy cars and houses. I have never done that. I save in advance of the purchase, rather than play catch-up after the purchase. Money earned can go toward retirement and a comfortable lifestyle.
You are in a position to cash out on a car, avoiding the catch-up game. The key is to keep saving for the replacement car following the purchase. You can do the same thing for a home purchase. Buy a used car and save most of the money to start saving for your first house. Start out with a small house after graduating and work your way up.
Here’s another idea. Have you considered not blowing the whole 25k on a car and using some (most) to purchase a house and buying a used car? The real estate market is very good right now in many places for buyers. Mom might be interested in investing and/or co-signing. Many schools require freshmen to live on campus the first year. I don’t know about your’s. My son’s house near campus has relatively small payments. Two reliable roommates pay almost two-thirds of the mortagage and utilities. Many students buy houses near campus and do this. Really low-ball offers on good real estate are being accepted at a surprising rate. It helps if you are relatively sure that you will attend that school for 4 or 5 years, of course.
New cars are fun, but the novelty wears off. A couple years down the road and you’re driving a used car, anyway.
I would hate to see you use all that money on a new car and then wind up with payments on a house or car, later. Maybe you are going to have the wherewithal to cash out on the car and later the house, I don’t know. If that’s the case, buy the car. The point is that you are in a position to avoid this payment trap that people assume is necessary. My advice: get a used car and a used house and work your way on up.
The 25k is not all I have. It is already just a portion that my mom agreed is a good limit on a car purchase. When I am in college, I will be cheap, use a meal plan, and stay in dorms all five years. I will also co-op which will help me pay for stuff later on.
New Car Fever Can Affect The Entire Central Nervous System. Enjoy That New Car!
I agree. The OP put in the time and effort to get these scholarships. Because of the hard work the OP in now in a position where he/she can afford a new car. It’s the not the OP’s fault that there are others in the world not doing as well as he/she.
Thank you all. Now does everyone agree that the Mazda3 is the best small 4-door under 25k or can anyone think of others that I should try?
Five years in dorm’s,I take back all I was thinking, I could not last on semester in a dorm.
Well the school I am going to has some really nice, roomy dorms with private baths, and I was able to get into one. Hopefully I will be okay in there.
You zeroed in on the exact right car since you won’t drive a hatchback. The standard Mazda 3 is by far the best looking and best handling standard compact, and the quality and reliability make it a good longe term vehicle. It will see you through past your PhD thesis!
Concentrate on your studies, the Mazda will not keep you awake at night with reliablity problems like a Volkswagen GTI would.
Good luck!
Thank you.
If you like the 3, why not try slightly upsizing to a Ford Fusion/Mazda 6(same car basically)?
Here’s my two cents …
The Mazda3s is a good car, fun to drive, etc. I wouldn’t worry about the single recall.
I have no problem with you buying one for college. I bought my new car after 2 yrs in college – that lasted for another 7 years after graduation, which was a great way to save money once I was done and I had reliable transportation when I had a regular job.
If it were my money, I’d buy a used version, mostly because college kids are careless and will ding your door pretty quick. Nothing feels worse than having your shiny new car with dents that some moron put into the door.
Other cars: the subie wrx or a Honda Civic Si – both are fun, pretty reliable.
You’re about to be a college student. YOU DON’T NEED RAIN-SENSING WIPERS!! Nor do you need a brand new car, especially if you’re going to be parking on campus with all the other students. There are so many wrecks on and around college campuses, there is a possibility that some stupid kid will bump, ram the door, or slam into your brand new car. Insurance definitely won’t be happy about that, chances are mommy and daddy won’t like it too much either.
You’re picking the car to death as an excuse to get that new car smell. You’ve become accustomed to the ride and performance more than likely and perceive it to be underpowered. Drive a Yugo for 2 weeks and jump back in the Galant. Vast performance improvement, huh?
Lastly, a Galant hard to park? Considering the Galant has about the same wheelbase as the Mazda3 I don’t see the parking problem as being much different.
My daughter has a Galant which I’ve driven many times and it gets around town just fine.
If new car smell is more important than 25 grand in the bank then have at it.
Your mom the CPA should figure out what’s going to be worth more after 4 years; 25 grand in the bank even at 0% interest or a 4 year old, dinged up Mazda.
Good luck anyway. And good luck on driving a car around campus. You’ll soon see why footwear and bicycles are popular.
(For what it’s worth, my son has a nice vehicle now but his daily driver is still the 88 Camaro he got as a high school senior. A bachelors degree in accounting, bachelors degree in business, Masters in accounting, certified fraud examiner, soon to be a licensed CPA, currently a great job, etc. and the Camaro still serves him well after 10 years and 300k miles.)
I’m not too worried about dings. I’m just a sucker for amenities. My mom’s car has rain sensing wipers and both my parents’ cars have automatic climate control. The '08 and '09 Mazda3s Grand Touring have both. I will try to get a leftover '08 if I can find one.