Buying an 03/04 in College...

[ebear]

Now, first of all I know I'm posting in a public forum, but please no posts saying "Just wait until you get out of school, etc etc, you're young don't waste money" I want to hear how hard it was for some people who bought their cobra while in college.. I'm in a very easy situation for college as of now, my parents pay my apt, rent, and 200$ a month allowance.. I'm getting a 20 hour a week job... (700~ a month) so about 900$ a month... I only pay for food/gas... should it be easy for me to pay a loan on an 03/04 cobra? also note I'll have about 5-6 grand in the bank once it's time to buy the car. I was originally going to get a 99/01 for aorund 15k.. but I started look at 03/04's and I really want one... If you have REAL ADVICE advising me not to do it, because you tried it before.. that is welcome.. But if you didn't try to do this, I don't need you telling me not to buy the car... anyways help me out

note: I also might get a mach 1 since it's between the 2 cars in price, 14-18 for 99/01s cobra, 19-22 for machs, and around 25k for 03/04s :rockon: :rockon:

 

[madmatt]

Wow, wish I got a 200 dollar allowance, but anyway. Im thinking about the same thing, but its not really the car payment that will kill you, its the insurance...I also thought about a mach but I dont wanna get in another car that Im just going to want to supercharge and go back to thinking about 03 cobras. I dunno what to do.

 

[ebear]

Wow, wish I got a 200 dollar allowance, but anyway. Im thinking about the same thing, but its not really the car payment that will kill you, its the insurance...I also thought about a mach but I dont wanna get in another car that Im just going to want to supercharge and go back to thinking about 03 cobras. I dunno what to do.

EXACTALY, I thought if I got an 99/01 I would just wish I got an 03/04 just like when I bought my 00 v6.. 2 weeks later I was wishing I woulda waited a bit longer and bought a GT.

Yeh, my parents are REALLY awsome, so I'm really greatful for that.. another good (GREAT) thing is, that I only have to pay the difference in insurance from the v6 -> cobra.. and since it's not my own policy it shouldn't be to expensive

 

[ebear]

I have to wait until next summer anyway... I'm pretty sure i'm getting an 03/04! Price should start dropping because the 07 will be coming out soon by then.... hopefully I'll be able to find one around 23k :rockon:

 

[DKS2814V]

You'll be able to find one for $23k no sweat. There are $23000 Cobras out there right now with a bit higher mileage.

I bought my 97 Cobra when I was in school. My payments were only $250 a month, however I didn't have a job other than a weekend job bringing in roughly $100 a weekend.

I'd say if its part of your life-style its the sacrifice that all of us have made for something or other.

All in all, it depends on your major and how well you want to do in school. I went through engineering school, worked weekends, and had the car to pay for. NOT EASY!!! Especially if you want to be lazy every now and then and go have a few beers with your friends. Its not really worth it, 'cause you have to go to work to pay for your car thats just sitting anyways. I didn't drive mine a whole lot in college due to convenience.

Its a toughy to make, but if you're gonna get one, I would suggest the Mach due to reliability, the mod "bug" and insurance will be cheaper than the Cobra for sure.

You'll be paying roughly $300 a month for a car with $6000 down with decent credit.
I was always told $200 a month for every $10000 the loan is.

Hope it helps.

 

[ebear]

You'll be able to find one for $23k no sweat. There are $23000 Cobras out there right now with a bit higher mileage.

I bought my 97 Cobra when I was in school. My payments were only $250 a month, however I didn't have a job other than a weekend job bringing in roughly $100 a weekend.

I'd say if its part of your life-style its the sacrifice that all of us have made for something or other.

All in all, it depends on your major and how well you want to do in school. I went through engineering school, worked weekends, and had the car to pay for. NOT EASY!!! Especially if you want to be lazy every now and then and go have a few beers with your friends. Its not really worth it, 'cause you have to go to work to pay for your car thats just sitting anyways. I didn't drive mine a whole lot in college due to convenience.

Its a toughy to make, but if you're gonna get one, I would suggest the Mach due to reliability, the mod "bug" and insurance will be cheaper than the Cobra for sure.

You'll be paying roughly $300 a month for a car with $6000 down with decent credit.
I was always told $200 a month for every $10000 the loan is.

Hope it helps.

Thanks, if I can get the payment around 350.. that will be fine for me.. I have a room mate, and I'm basically paying for nothing in college.. I do not mind working at all for the car.. but I will have to drive alot.. (my room mate has a civic that we usually use) school is a bit aways from where my apt is...

Thanks again for the info!

 

[wals9331]

Do you have a decent place to park this sweet ride? I would NEVER want to park my cobra on a college campus. Drunk people will FAUCK up your car :nonono:

 

[ebear]

Do you have a decent place to park this sweet ride? I would NEVER want to park my cobra on a college campus. Drunk people will FAUCK up your car :nonono:

My apt has a gate/guarded parking lot... and the civic will mostly be driven to school :thumbsup:

 

[wals9331]

My apt has a gate/guarded parking lot... and the civic will mostly be driven to school :thumbsup:

Will it have a covered parking spot?

 

[ebear]

Will it have a covered parking spot?

I'm not sure yet...however I do have a car cover that fits :0

 

[WizardsCobra]

I think its basically up to you. I go to school right now so having a payment is hard on me. I sometimes just think I should sell my car but, everytime I get in it and drive it I tell myself that its worth every penny.

 

[pec86]

I am on the same boat you are ebear, I am in college and I want a 03/04 cobra bad. Currently working 2 jobs and going to school at CSUF; computer engineering major hurray. I might settle for a 99-01 cobra only because the price you can get these cars now a days. Then again I dont want to buy it and tell myself i should have gotten an 03/04. The good thing is its still a few more months intul I purchase a cobra so I have plenty of time to decide.

 

[Narcosynthesis]

will the car be paid off before you graduate? Once you leave school I assume you are on your own, then the bills will hit you.

 

[31Charlie]

Get a new job where you can work 30 - 40 hours per week then you will be able to affoard it a lot better. I got a L with payments under 300, lived at home, had to pay for food, insurance, gas and anything else that comes up (like new tires). I was barely making it every month. I know 300 doesn't seem like a lot, but add in insurance and gas and your looking and at least 500+ dollars a month. Just saying you might want to work a little bit more. But belive me it is worth it to have a sweet ride like a cobra.

31C

 

[ebear]

Get a new job where you can work 30 - 40 hours per week then you will be able to affoard it a lot better. I got a L with payments under 300, lived at home, had to pay for food, insurance, gas and anything else that comes up (like new tires). I was barely making it every month. I know 300 doesn't seem like a lot, but add in insurance and gas and your looking and at least 500+ dollars a month. Just saying you might want to work a little bit more. But belive me it is worth it to have a sweet ride like a cobra.

31C

Of course, I don't start school yet, but once I do, If I find I don't have enough time to work, and can barely afford eating then I won't buy the car.. but If I get into school and am making 400+ extra dollars a month, I will buy the car.. I guess we will see.. Hopefully I can get the cobra

(The car will have 1 or 2 years left on the loan when I graduate)

And yes, that was the time I was actually worried about having enough money to pay for the car.. but it shouldn't be that hard get a job for 40 hours, and I'll most likely still be living in the same place... (paying for myself, its about 500 a month)

 

[wals9331]

I'm not sure yet...however I do have a car cover that fits :0

It gets REAL OLD...REAL FAST....TRUST ME :bash:

 

[ebear]

It gets REAL OLD...REAL FAST....TRUST ME :bash:

Yeh it really is annoying, but it's worth it.. I even cover my v6 everynight... I don't cover it until I know I'm inside for good.

 

[wals9331]

Yeh it really is annoying, but it's worth it.. I even cover my v6 everynight... I don't cover it until I know I'm inside for good.

I guess its fine then. I bought my cobra when i was 19 (Sopo in college). I left it at home though most of the time. I also had a co-op job that paid for it. Worked out well. Its cool having a nice car before you are 50 :-D. I say go for it :thumbsup:

 

[ebear]

I guess its fine then. I bought my cobra when i was 19 (Sopo in college). I left it at home though most of the time. I also had a co-op job that paid for it. Worked out well. Its cool having a nice car before you are 50 :-D. I say go for it :thumbsup:

Thank you for the advice, and hopefully I can get the 03/04!!

 

[poopnut2]

If you can afford it, go for it. If not, don't worry about it.