Brandon writes:
Guys, I need some help. In the summer of 2008 with gas prices going up and having a decent bank account due to high school graduation money, I sold my 1989 Prelude Si and bought a brand new Cobalt LS stripper (roll up windows, manual locks and all) to have a more economical and reliable ride since I was going off to college near DC and would regularly travel 350+ miles a weekend. 2 years later I loathe the car and wish for something else, but something fun and practical that I can keep for at least 5 or 6 years until I’ve got a full time job income coming in for sure. I’ll be 21 in a month so insurance price are still a concern, but I’ve got a pretty good income and stable job for a college student.
My problem is I like too many cars and I can’t pin down one I love. A 2009 Cobalt SS might actually be perfect for my situation but I’m afraid of going with a used car that’s got a turbo/supercharger. I’d like a manual transmission, compact to midsize coupe, but I could do a 4 door for a BMW 3 series or Accord sedan. I did love my Honda and would be very open to a Civic Si if you guys have a favorable opinion of them, and did dream of the RSX when I was in high school but they seem over priced in the used market. My requirements include the need for it to have a fairly reliable reputation or at least be easy to fix by a former mechanic who has most non-metric tools and a few for working on the old Prelude. Also one more thing to keep in mind is I do still travel about 350 miles a week between school and work, and make a trip from DC to Buffalo, NY by driving at least every other month so gas mileage in the high 20’s/low 30’s is important (I average 34 in the Cobalt). My budget is around $19,000-$20,000 since after trade ins and down payments it should cost me less than $321 a month (what the Cobalt does now) but as I said earlier, I just want a car thats economical, comfortable, fun to drive, and can easily last me until Im a married man and end up having to get the Sonata Turbo to please the wife.
Thanks for any help, gentlemen!
Steve Answers:
What do you hate the Cobalt? The seats? The radio? The lack of features? You are seemingly unhappy with the vehicle and yet you want…another Cobalt?
If you are looking to have more power don’t even bother. You are a highway driver and the $$$ lost on a financed vehicle will cost you far more in the long run than a little extra oomph for the upward inclines.
If you would like better seats, a ritzier interior, and a wonderful stereo system… well now you’re headed in the right direction. I would find some good SS seats from a junkyard. From there you can go on Ebay or a Cobalt enthusiast site and find some fun play things for the interior.
Put in a nice GPS, top quality tires and struts, and a really nice stereo system and… you’re done for about an eighth the cost of a new vehicle. If you already like the Cobalt enough to look at another one, chances are this one can be equipped with everything you need and desire. It is a Cobalt after all.
One other thing. You may get a really nasty reality check if or when you decide to sell your car. The ‘books’ rarely reflect the real market value of cars that were overpopulated at the rental counters. Your model in 2006 filled in a void that was left by the Chevy Malibu ‘Classic’ and it was filled by making the Cobalt as common as sub-prime loans. Speaking of which at 21 years old you should be a far away from debt as possible. Hit the books, save your money, and quit jonesing over the superficial BS.
Sajeev Answers:
Steve’s last comment is my main concern. You’re 21 years old and about to justify a purchase because you can afford the payments (@ $321 a month) on a new car just like your current, crappy, Cobalt. This particular “cycle of debt” sounds both avoidable and wholly necessary.
You’re single with a part time college gig, so your real earning years are ahead of you. Why are you prolonging debt, pissing money away on a car you won’t even like (Cobalt SS) or cannot use when you get married? Now is the time to make a new best friend on wheels, something that personifies your free (financial) spirit but might actually be worth keeping when you have reason to be knee-deep in debt.
My advice: keep your Cobalt or sell it for a superior shitbox: a 3-5 year old Honda Civic (sedan) that’ll tone down your current loan (which must be full of negative equity, considering the vehicle) to get you closer to being car payment free. Buy some service manuals and be friends with local Civic fans from a forum, they’ll fix up your Civic for next to nothing, out of sheer camaraderie.
Take it from the guy with a payment-free garage; women appreciate men in a respectable financial position. Plus, be a sharp dresser: money on nice threads is far more important than a car payment right now.
Need help with a car buying conundrum? Email your particulars to mehta@ttac.com, and let TTAC’s collective wisdom make the decision easier… or possibly much, much harder.
This particular “cycle of debt” sounds both avoidable and wholly necessary.
Sajeev – your sentence is like Darfur: It needs UN.
Oh my! Well this is unbelievably embarrassing.
Follow their advice. I have had too many cars in my 29 years and can’t even begin to imagine how much money I could have in the bank if I stuck with only one or two. Besides, making a snap decision on what “may occur”, like you did when you ditched the Prelude, only made you realize how good you had it before. I just paid off my car 1 year ago and the extra flexibility in my budget is a god sent. The Cobalt might not be the flashiest or most fun, but you know what you have, you don’t know what you’re going to get. You’d be surprised how quickly you can sock away serious cash without a car loan and then save up to buy a used car outright.
Dave Ramsey FTW!
P.S. I’m not trying to be a kill joy, and I have piddled away many an hour configuring all manner of cars online when I get hit with the car bug, but the peace of mind not have a car payment brings is worth more than some new toy I have to finance.
Why in the world did you sell the Prelude? (unless it was rusty of course) … Get another Honda.(or Acura, same difference)
just not one with a V-6 and Auto box
This advice is spot on. It’s the same advice my father gave me when I graduated school—only I didn’t listen. Fortunately enough, I’ve only lost big money on one major automotive purchase, the rest I’ve driven at darn near break even through a combination of recognizing good deals, and my ability to service most things myself.
However, where you’re at in life (from someone who wasn’t there too long ago), take the advice above. Get through school, then start shopping. If you can save a few duckets between now and then, you’ll be in a much better position too.
I despise cobalts and throwing good money into a hated car is like polishing a turd until the peanuts shine; it’s just a waste. In your position, Id’ look either at a pre-2009 Jetta or Golf TDI. A lot of people don’t like them, but a lot of people do, and they have good driving dynamics, when they aren’t broken. They do get great fuel economy and hippy chicks dig them, although that may get you a vegetarian girlfriend, and that’s usually a bad thing.
You could also go wit ha new or mildy used Subaru impreza, which is a fun little beast with the non turbo motor and a stick. fuel economy isn’t that great in teh high 20’s, but they can be had dirt cheap. with the AWD, you’ll probably pick up a nice girl stuck in the snow on her summer tires. But then, do you really want to date a girl who goes out in the snow on summer tires? Sounds like a bad move.
The “when they aren’t broken” part of this gives me pause. I encounter VW (and Audi) owners all the time who tell me about the four-figure repair bills they’ve just paid on a not-very-old car, and then, in the next breath, tell me they wouldn’t drive anything else. (Perhaps because they have to justify the four-figure repair bill.)
OTOH, I do like the Subaru Impreza, although, as I’ve observed before, the cheapest car is the one you already own. I’ve made it a point to always have at least one paid-for car in the driveway, and the quicker the OP gets to that point, the happier he’ll be. (And although ladies do love cool cars, they also love healthy bank accounts and responsible potential mates. The whole good-provider-for-my-future-offspring thing.)
+1 on avoiding vegetarian girlfriends.
Gotta take issue with all the other advice.
In-or-freshly-out of school, with those miles he wracks up, weekly. Forget about it.
The fact that you don’t already know what you want should be a huge red flag. You should know what you DON’T want: debt. And what cfclark said. Don’t buy a German car until you can afford the extended warranty.
You’re going to be old, maybe fat, maybe even bald in another decade or two. Save your chrome-lust for when you have less of a future in front of you to flaunt; it’s a lot easier to finance a car you actually want when you aren’t already saddled by debt. In the mean time, do you want to date women who are lured to money or are lured to Colbalt SSes? The former are unavoidable, the latter, well, one should use their own judgement about.
But then, do you really want to date a girl who goes out in the snow on summer tires?
Somebody needs to show them the way. I converted my last girlfriend to studded winter tires. I still receive thank-you e-mails for that when we get some nasty weather. She used to hate driving in the winter, but she now thinks that it’s actually kind of fun. My buddy has me beat though; he has converted his last four exes to studded winter tires in the same time period as my single conversion!
As nice as VWs are, they are more maintenance intensive and are more liable to have problems.
A tenant of my parents, who will only be in the country for 1-2 years on a fellowship, recently bought an 04 Passat 1.8T 4Motion with 82k miles on it and he’s already in for a treat. It died on him halfway to vegas (not sure if the coil pack recall has been done) has some kind of electrical problem involving the turn signal and there’s no record of when the timing belt was last done, a $1000+ job. He also didn’t seem to understand he needed to change the oil religiously with synthetic.
How much does the OP owe on the Cobalt? I don’t think he needs to think about doing anything until he has it completely paid off.
On the contrary, the best financial action is to ditch the fastest depreciating asset – in this case it’s the cobalt. It’s gone from maybe $15k-16k new, down to $10k-11k or so now, and it’s still got a long way to go. He’s adding miles fast – 350/week is the better part of 20k per year. In 3 years, his 100,000 mile cobalt will be down to $6k-7k in equity.
It will cost him $4k-5k over the next 3 years just to KEEP the cobalt, plus whatever his payment is.
If we’re talking about sound financial advice, he should sell it now, even if he’s underwater, and start over with something older, cheaper, and more advisable on a student budget.
@sean: where do you get your maintenance figure? $4,000-5,000 a year to keep a Cobalt? Only if he plans on replacing the struts, shocks, engine and tranny EVERY YEAR! Granted they’re not Rolls Royces, but the $4,000/yr figure is ridiculous for this car.
I can’t imagine a market where a stripper (high mileage?) 2008 Cobalt is worth anywhere near $10k. Your ‘asset’ is already depreciated – now you should ride it out until you have some real cash in the bank for your next purchase.
There’s a 2009 Cobalt LT with cruise and power accessories for sale on Craigslist here. It’s got 13,000 miles, is three years newer, has several thousand dollars more equipment than this one, and the price has just been reduced from $10,000 to $8500. This is the fourth reduction in as many weeks since it was first listed. It seems fairly legit (I haven’t driven the car), and has quite a few pictures with the ad.
I’d say the on in the scenario above is worth MAYBE $6500, and that’s assuming it has less than 50,000 miles. Anything more, and, well…
I’d just ride it out. I’m a recent college grad, have my first job, and am able to sqirrel away money since I have a $1300 Infiniti that just won’t quit (thank God/knock on wood!). I wouldn’t trade that for a new car any day.
sean,
Point well taken, but he’s clearly not amenable to your suggestion (selling the car, paying off the negative equity, and buying a beater) since he’s looking for a $20k car, into which he will roll his current negative equity and be buried for the next three to four years. Not to mention that most students don’t have the available funds to pay off the negative equity on their ride.
If he keeps the Cobalt, he’s much closer to having a car that he owns outright than he would be if he traded it in on a different $20k vehicle.
@geozinger – I was referring to depreciation over 3 years, not maintenance. I agree with you that maintenance on a car this new is negligible.
@srogers, kaplanablack – Maybe my figures are off, however I maintain that the central point stands: Brandon would net substantially more by selling his 2 year old cobalt today than by selling a 5 year old cobalt in 3 years’ time. Yes, he’ll lose some money just in the transaction costs, but I can’t believe it’s as much as he has to lose by keeping the Cobalt.
@segfault – He ‘loathes’ the car though. If Brandon planned on keeping the car for 7 years or more then sure, take the hit and ride it out for the long term. But again, he hates it. And with a stripper cobalt, who can blame him? That said, I completely agree with you that buying another $20k car is a dumb idea, I just think that holding onto the Cobalt is almost as bad.
Having recently spent a silly amount of money on a car that I absolutely did not need (and being only somewhat older than yourself), I know how hard it can be to avoid the temptation to sacrifice for your passion. On the other hand, I could swing it precisely because, as a telecommuter, I don’t need my car everyday. If I had a commute I would have definitely been more rational with my choice… at least that’s what I keep telling myself.
Even so, as much as I love my car, there are times when I look at it and just see the money tied up in it… and nothing hurts like resentment of the one you love. But hey, nobody said that falling hopelessly in love with cars would be easy…
It’s a good choice for an Editor-In-Chief who doesn’t live in a city that demands car ownership from its citizens. Plus, I don’t see that car depreciating very much, if at all, with proper upkeep.
All in all, not a bad way to have your cake and eat it too.
Ed’s Dec14 post is utterly gorgeous poetry, a profound treasure. Well-written.
You are driving to Buffalo because you have a long distance relationship – did I get that right? If so, get rid of Cobalt and then you may be able to start finding dates in DC. A new Fit fits all your criteria.
The Fit is a terrible highway car, at least the first generation. Underpowered, high revving at highway speeds and poor ride. I managed to get 25mpg on the highway in one. I get 28 mpg in my WRX. Although it may be better with a manual I would avoid one for what the OP is trying to accomplish.
They are great city cars though.
The suggested Civic sedan will get better freeway mileage than the Fit. The Fit gets better city mileage. My Fit gets about 30 MPG around town, but not much more than that on the interstate. The Fit is shaped like a softball, for highway mileage you want something shaped more like a javelin. The Civic 4 door is longer and lower and gets about 3 more MPGs on the freeway, and that’s with a bigger motor (1.8 vs 1.5).
I love my 2009 Jetta. The base model came with a lot of goodies including power everything, remote entry, heated seats, 8 speaker stereo. Fortunately for me I bought it right in the middle of carmageddon.
Unfortunately for you, you didn’t. Its held its value well and within $1000 of what I paid for it after 20,000+ miles. Its a comfy highway cruiser, gets 30 MPG on the highway and has a Huge trunk.
I pay $310 a month, maybe you can find a slightly used one like mine would be and have a payment close to that.
Car payments suck. They are one of the largest destroyers of middle class wealth in modern America. You’re setting yourself up for a life time of pain and stress by sticking to the payment cycle. Trade in cash and you’ll end up wealthier, healthier, and greasier from working on your cars. The right kinds of chicks dig grease.
I’m a good bit older than you, and am in way more comfortable of a financial position. But I haven’t had a car payment since I was 19. It would be cake for me to go buy a brand new car on payments, but it’s far more fun to be able to relax, have a nice dinner, and not worry about making the car payments at the end of the month. I’ve driven my current $3500 car for almost four years now and have spent at most about $1500 in repairs (all done myself). The car is still worth most of what I paid for it. Do the math. That will offset any loss in fuel economy you might see from driving an older car.
Buy a 2003 Civic NON-SI but stick, pay cash, and think about what $300/month saved or spent on liquor could gain you.
+1 for cash on the barrelhead. I can buy whatever I want for fresh folding because, in the past, I didn’t buy whatever I wanted.
And the credit cycle applies to more than cars. For example, people who are interest-payment-poor buy and re-buy furniture because the junk they are forced to select wears out. They purchase on credit, and the goods are shot by the time they’re paid off. Having no money in hand – their disposable income was vampired away by payments – off they go to Wild Bill’s Furniture Emporium to get yet another livingroom-full of cheap upholstry and chipboard. There’s no end to the effects of their credit lifestyle; they’re carrying a big mortgage balance because they couldn’t scrape together much of a down payment, and even their vacations create a string of monthly obligations.
When it comes to quality of life, sleeping soundly at night is worth a lot.
/rant.
Fixable by a mechanic with no metric tools? You need a pre-1980 American or British vehicle. This guy must have retired a long time ago!
Suck it up, bro. Keep driving your Cobalt until you graduate – consider it penance for having bought one in the first place – and vow never to do something so foolish again. You’ll be better prepared mentally, and more patient, when it comes to picking a Mrs.
Going out to buy another car would simply compound the first financial mistake, particularly in view of your other current priorities, and trying to scratch your itch for a fun-factor would likely cause you to over-buy your means or end up with someone else’s cheap-because-it’s-now-junk ride.
In this economy and with the dismal employment picture for recent college grads, you want to have less debt not more. And you need a car, given your travel patterns. You’re instincts in 2008 were correct: nail down your automotive operating costs. At least with a new car under warranty, you know that your costs are predictable: car payments, insurance, routine maintenance, fuel. What you don’t want or need is unexpected, and potentially big, repair bills from an older car that’s “neat.” I would add that, as a 21-year old, single male, you are in the top rate class for the insurance people. You are going to pay dearly for anything that’s fun, like an SS, just about any BMW, a Civic Si and so on.
And, do you really want to spend your time trying to find a cheap place to repair your “fun” car, or D-I-Y?
Finish college, get a job and then see where your priorities lie. If this means anything to you, in my car buying career, i have purchased two nearly new used cars from one half of a newly-married couple who needed to get out from under car payments in order to qualify for a loan for a house. One of those cars — a 1987 Mustang GT that I got a year old from a school teacher — was definitely a “fun car” that had stopped being “fun.”
You have two problems here, with two different answers.
Problem 1: You need a practical car for day to day tasks and to make the drive to Buffalo every now and then.
Solution: You already have a practical car. A freeway grind from DC to Buffalo won’t be fun no matter what you’re driving. Just keep the Cobalt, and get it paid off ASAP.
Problem 2: You need a fun vehicle that will keep you entertained and provide you with an outlet for your enthusiast desires.
Solution: Buy a motorcycle. A 250 or 500 Kawasaki Ninja is cheap, appropriate for a beginning rider, and competent enough to be fun for an experienced rider. You can get a good runner for $1500 or so, and parts are nearly free. They’re reliable, get great gas mileage, and most places will let you park on the sidewalk – you can easily use it as a Spring-Fall college car when the weather’s nice to reduce seat time in the econobox. If you ever need money you can sell them pretty easily with minimal depreciation. Anybody who tells you they are dangerous is a coward..
You want a fun project vehicle and a reliable daily driver. No problem. They just shouldn’t be the same machine.
If I were in your situation I’d sooner poke my eyes out than finance another vehicle. Don’t even consider it as an option.
Seems to me the Cobalt fits the bill commuting wise so what you really need is a little slice of fun on the side. For cheaper than the cost of trading in the Cobalt for a newer version you can get yourself a decent Triumph Spitfire, 1st generation Rx-7 or Fiat X1/9. Just buy a socket set too!
+1 to this. If you want a fun car, get a REAL fun car, something with no top and manual everything. I got a well-sorted ’73 MG Midget for $3500 earlier this year and I grin like a fool every time I drive it. This sort of thing is a terrible idea as the first car in your stable but positively genius as a second. And let me tell you how much positive attention an old British or Italian convertible gets from the ladies (at least the worthwhile ones).
Keep your fleet special for nasty weather and when the convertible is having one of its, er, regular constitutionals.
I finished college. It took me about 5 months to find a decent job. Then I worked for about 4 years. At that point I bought my first new car ever. I have never regretted another car purchase more than that one and have never bought another new car since. But I dealt with it for seven miserable years of expensive repairs, had it was paid off for four of those, when I finally sold it and bought another used car. Don’t fall into the new car payment trap, take the advice, keep that Colbalt until you’ve had it paid off for a few years and then sell it and buy a new to you used car with the cash you have saved. I mean the car is not broken, and has great gas mileage like you need after all. You’ve made this mistake before with the Prelude, don’t make it a pattern.
I pretty much did the same thing and also regret it. Definitely want something a little more fun to drive and not so lame but my main priority is to pay off what I currently owe on my car. You’d be surprised how much more quickly your car gets paid off when you apply a little extra to each payment. It might take away from disposable income currently but you’ll finish paying months or even years earlier than if you had just made the minimum. The motorcycle option is intriguing but I would say to plan spending at least another $1000 on protective gear, all it takes is a 30mph drop to see why t-shirt and jeans just doesn’t cut it on a bike.
The motorcycle option is intriguing but I would say to plan spending at least another $1000 on protective gear
Gear is a must, but I don’t know how you arrived at the thousand dollar figure. I’ve outfitted several friends with good riding gear for half that or less.
An acceptable quality full face helmet is $150 or so, less if you are willing to buy a model with last years colors or Xtreem graphics.
A good protective motorcycle-specific jacket can be had for under $100, same for the trousers. Again, closeouts on last year’s styles usually offer dramatic savings; and any bike board is awash in like-new gear for sale by people who upgraded or got too fat to fit in it.
$50 for gloves, and you’re decently set up for $400.
Well maybe it is a bit high but I was trying to impart that safety gear for a motorcycle is not an area to look to cut corners on. Usually I am all for saving money but a few hundred on a nice helmet seems a worthwhile investment to me. Even just a ride in an ambulance can get you into expensive helmet territory. But hey that’s just a difference of opinion, I always say better to have it and not need it than the other way around.
My DOT approved full-face helmet from HJC fits my head with glasses comfortably for about $150. I’m not sure several hundred dollar helmets are necessary, especially if they’re Snell certified. My head would be Jell-o if subjected to the forces of a Snell test, so I’m a bit concerned about their protection for forces rated below that.
My textile gear and helmet cost all of $500 new. I was fitted at the local Honda dealer. Wouldn’t leave home without my gear. I’ll go with used full leathers if I ever plan to do regular track days.
I’ve had great experiences with newenough and live in their closeout section. Snell/dot certified helment < $100. Leather jacket ~ $150. Gloves for $40 or $50. Pants another $$200. Boots another $150 or so. That’s about $650. Add in an MSF course for $300 and you are at the $1k mark.
Well worth it. I did 8k miles last year on my sportbike and averaged 43mpg on a 65 mile round trip commute instead of 22. And it was a LOT more fun. Have had several women ask for rides as well (I’m married) so I had to turn them down.
Problem solved!
Go find another Prelude!
Screw the damn COBALT and or SS b.s
FIND another PRELUDE!
Dont buy the 2ltr SI CIVIC.
Stick to the shitbox. You know what servicing you’ve done to it and you know its history – so why take a chance on something used and abused? I’m over half a decade ahead of you and I’m still in debt due to college – it sucks, stay away from even more debt. Due to this I’m driving an even more antiquated commuter tub than yours which I hate with a passion – but, it doesn’t cost me much at all and I can concentrate on getting back in black… that is if I don’t do something stupid like go and put 8k down on the hood of a new ‘Stang…
This.
From what I can tell, Brandon is in for a rude shock when he goes looking for a new car.
He looks to be 2 years into a 5 year loan, probably on an initial sticker of $18K including tax, fees etc. So he probably owes $12K on the Cobalt. Which, in today’s market is worth $7K. Uh oh, that’s $5K underwater.
Listen to your friends here and get off the debt wagon, Brandon. Pay off the Chevy as fast as you can, build up your savings account, and then think about trading.
I’d knock off about $4K or $5K on that initial price.
I got a 2008 stripper with the GMS discount and ~$1000 in negative equity for just over $13K. His transaction price should come about the same, and we appear to have purchased about the same time. My payment was over 4 years and was about what his is, so I’m guessing he financed in the same neighborhood as I did.
He’s probably not that upside down, however he should still keep it. I had a job lined up for sure 9 months before graduating, which was taken away from me 3 months prior to graduation. Keep it til you’re getting a big paycheck, then determine what you want and can afford to buy.
If you like your 89 Prelude, forget about any Honda today. Honda has turned into a very strange and ugly car company, opposite of what they were in the 80s and 90s.
What you might really like is a Mazda 3. You can get an S Sport version, tagged and out the door for around $20k if you haggle. It’s not fast like a Cobalt SS, but your insurance and gas will be easy on you. And it is more stylish inside-and-out than a Chevy. Get a black one if you don’t like the silly grille on the new 3.
Putting so many miles on the car, what I might recommend is a used 2008 or 2009 Mazda 3. Drive it for five or six years until you’ve hit 150k. Then buy something new when you’re earning the big bucks.
Forget about a used BMW. You can’t afford the upkeep on any luxury car. Plus, girls will think you’re wealthier than you really are, and that is a huge problem. BMWs become difficult to live with at over 100k miles if you are unable to afford maintenance. With all the miles you’re planning, it’s not a good option.
Also, if you end up with a wife that aspires to own a Sonata, you need to find a different wife pronto.
Good luck with everything.
Forget the sedan mazda3… sedan. in the 2.3
Go pick up the 2.5lt mazda3.. with the HATCH!!!
Sajeev is right on. Here’s the site to help you do it.
http://www.everythingcobalt.com/
Upgrade when you have cash. Those little crap boxes are so modifiable that I’ve even considered one just to have a platform to “hot rod.” Honestly the eco-tech is one of GMs best engines of the last few decades, at least of the 4cyl variety. And they only get smoother and better as the miles rack up.
+1 Dan – the Cobalt is very modifiable, if you were so inclined. If I were in this young man’s position, I would just tough it out until the car was paid off. Even then, I would hang on to it until it became unreliable or just didn’t fit his lifestyle well. I’m in the process of paying off a car and once this is over, I plan on only paying cash for my cars. I’ve burned too much money in the last 10 years p!ss!ing away money on cars. I like cars, I just don’t like paying for them…
All perfectly sound advice. I am going to be the little Devil on the other shoulder. If you can’t have a little fun now, when can you?? Go splurge on something fun, as long as you don’t go too crazy. IF you are a driving enthusiast, which given the level of Panther love on this forum I have to assume most of the B&B most definitely are NOT!
Life is too short to drive shitmobiles, and too soon you will probably have a wife and kids and will be schlepping around in a sour-milk smelling minivan.
Life is way too short to drive shitmobiles. I’d much rather have an 8 year old Civic Si “breadvan” than a newer Cobalt.
http://seattle.craigslist.org/see/ctd/2101183122.html
That having been said, given your financial situation, it makes the most sense to keep driving the Cobalt until you graduate college and hopefully land a decent job.
“In your position, Id’ look either at a pre-2009 Jetta or Golf TDI.”
Yeah sure. And make sure you save a small fortune for guaranteed huge repair bills.
“My advice: keep your Cobalt or sell it for a superior shitbox: a 3-5 year old Honda Civic (sedan) that’ll tone down your current loan (which must be full of negative equity, considering the vehicle) to get you closer to being car payment free. ”
Ok, sheer stupidity here. Keep the Cobalt until school is done and the debt is paid. Selling it while upside down and obtaining another retail loan only puts you further behind the 8 ball.
Guaranteed huge repair bills? I think not. While VW reliability is somewhat below average, a look at truedelta will clearly show that the difference is not all that dramatic. And that will apply to just about any brand with below-average reliability. (That said, buying a car that was $50K new when it’s five years old will create some large repair bills — the repairs and parts will tend to be proportionate to the original cost.)
IMO you need to concentrate on being debt-free by graduation. The advice to fix up your present car is good – take it. Buying another cheap car? Why not spend the summer in Italy on your credit card – run up $5000-$10000 in balances you cannot pay. Quit thinking about buying cars and go to the library and study. Your thinking needs a big adjustment. I went back and reviewed the prior comments – the motorcycle advice is the best yet. You’ll love riding it and it will scratch the excitement itch. Just pay for it in cash. We have paid for the last three cars we purchased in cash; there is absolutely nothiong worse than a car payment, and nothing better than not having one. Listen to Dave Ramsey – that was good advice, too.
What new or late model car is going to be a classic in the future? Like how many ’80s Accords, Camrys or Jettas would you be proud to own today? If you plan on driving it 30 years, it doesn’t matter if you go outside your budget. If you’re going to be bored with an appliance in a few years, it’s a bad investment. Think long term commitment. Yeah like a Marriage of sorts. Dumping a wife is expensive. Same with a car.
“loathe the car and wish for something else, but something fun and practical”
1989 Prelude Si. Failing that, a 5th-gen Lude. There are a few that haven’t been beaten to death yet, but time is growing short.
For the b&b, there is a lot of poor advice on here.
The transaction costs alone should keep you from buying a new car in your situation. Don’t forget taxes…you’ll need to pay this transaction cost again with a new purchase. Selling your Cobalt and buying something else is the worst advice you could take.
I wouldn’t concern myself too much the the reliability issue. Most autos today are fairly reliable, relatively speaking, and yours is pretty new. I’ve bought and sold 4 cars in my 20’s and wish I had stuck it out with one or two.
By keeping what you have and driving it until it drops you’ll not only save a boat load of money, but you’ll also find greater value in financial discipline. The ability to avoid an impulse purchase will help you later on in your twenties and thirties. :)
You can get a a decent used S2000, 350Z, Evo VIII, RX-8 or STI for your budget if you don’t want to mess around. I mean honestly, if you’re going to go into debt over a car when you already own a perfectly good car, you might as well step up instead of getting a car that is marginally better than the perfectly good one you already own.
If you just gotta dump the Chevy:
1. Saturn Astra XR (I drove this and a loaded 2.4L G5 GT the same day and the Astra was far superior)
2. 1st-gen Martix XR/ Vibe GT (If you liked old Hondas, you’ll probably like these. I’m used to lazy torque-heavy motors and even I came away a big fan of this engine. They handle better than you’d expect too. Might be hard to find a well-kept example though.)
3. MINI Cooper (very fun car with good gas mileage. Lacks stellar reliability, but I’d get this over a Volkswagen)
4. Ford Focus SVT (combine what I wrote for the MINI and Matrix)
2. 1st-gen Martix XR/ Vibe GT (If you liked old Hondas, you’ll probably like these. I’m used to lazy torque-heavy motors and even I came away a big fan of this engine. They handle better than you’d expect too. Might be hard to find a well-kept example though.)
Oh the well kept examples are out there but when my fiance becomes tired of her 2005 Vibe base model, I’ll take it off her hands and enjoy a good handling hot little hatch. Sorry. ;)
A Cobalt enthusiast site?
?!
This proves the inutility of the interwebs and the decline of Western society.
Take it from a guy who’s 11 years older and been in a similar situation for the last 4 years and keep the miserable POS until you graduate and have a solid job.
I graduated in 2002, had a job, got a brand new fast car, then went back to school. Car payment was killing me and I traded it in to get a Cobalt stripper. My payment was about the same as yours and was “affordable” since I managed to get a high paying internship. But that didn’t leave much money for a nicer place to live and a nightlife. I got “lucky” a little over a year ago and crashed that hunk of shit into a center median and became free and clear of it. Since I needed a car and had a job lined up, I went ahead and leased an Impreza that I planned to keep after the lease was up.
But, the job my company said was waiting for me was forgotten and I ended up scrambling and not finding anything until late summer and am now back in grad school. I really wish I didn’t have a car payment right now. Having one while in school sucks, but one thing it does help with is time management since you have to work to afford it.
So, keep it. Or try wrecking it :). I hit the median at about 55 mph at an angle and walked away only shaken up and nothing sore, so for me it was a safe little car. YMMV.
Hey guys this is Brandon. After reading over everything and searching over the web, I’ve come to a pretty sound conclusion, I think.
1) Keep the Cobalt, pay it off by June of 2011, 1 year ahead of schedule.
2) Work my ass off even more to save up money to put away for a rainy day/ money to put into an apartment in Charlotte or Buffalo, wherever the lady gets into grad school.
3) Spend a bit on the recently acquired 2002 Suzuki Katana to fill my thrills itch. Buying a dirt bike first has gotten me hooked on motorcycles. Use a little bit extra on new wheels and tires when the current ones wear out on the Cobalt
4) Hold off on the Cobalt even longer and deal with it. No telling what gas prices will be like 2 years from now, by not having a car payment I’ll be save more money even if the Cobalt isn’t getting high 30’s-40’s mileage.
Thanks for all the great advice, and to TallNikita, yes my girlfriend lives in Buffalo now, she was able to transfer into a much better school for her degree. Although its generally cheaper to drive, Southwest is saving my butt by offering lower fares if i book months in advance, so I’m starting to fly up to NY instead of drive. Also, I’ve been looking into jobs/internships in the DC area, rather than driving across VA to stick with the safe and secure job. While the Cobalt isn’t something I enjoy, I can accept it for the time being and focus more on being financially secure before I graduate.
You’ll be done in 7 months? Just pay it off dude! The next month, put a little into it and you’ll enjoy the car a little more so…maybe a new stereo or something.
OK, Sajeev is mostly right, but, if you’re set on a new car, how about the 2011 Ford Mustang for $20,777 (TrueCar)?
Don’t encourage him. :-)
EDIT: forgot to add the happy face emoticon at the end.
Why dump the Prelude? I had a 88 SI 4WS 5-speed once. It was the most amazing car I’ve ever driven.
Oh yea as a 3rd gen owner I can see why. Mine was an electrical nightmare. I got it in 03 when my Plymouth Reliant’s mitsu engine was about to die and junked it 6 months later. It was worth it though and its sad that Honda doesn’t make anything like these anymore, choosing to go with the greenie image instead of their racing heritage. sad.
I’d love to recommend a bimmer, but its not for everyone. A used prelude seems like a good compromise. The 2000 ones have good comfort, hp, and probably reliability. A Civic seems kinda unexciting, but I bet its a good fun car, so is the Mazda3 and Mazda6. Accords too. If your willing to go RWD an IS300 or G35 is probably ok, just don’t expect it to handle snow so well.
The best thing to do though is have a positive attitude and lighten up. Enjoy every moment as best you can.
Oh and things like tools, supplies (oil, gas, wd40), AAA, and basic maintenance are very valuable.
Hmmm
Sorry to bust ya bubble, but Civic is worse than exciting. It only has a 2ltr motor in the Si, with a 1.8 standard. That market is going towards hatches and Honda is without theirs for Civic.
Mazda3 is only worth it if ya spend the extra coin and get the 2.5 with the HATCH, otherwise its just ANOTHER boring sedan (the usual is black on black = unpainted.)
As for as Accord and Mazda6, the cars LITERALLY are too heavy to actually have any fun. You’d have to set the way back machine dialed back to 2000 or 1996 when the Accord was lighter.. and had a 4 standard.. with the 6 optional. And for the Mazda6 you’d have to go back to 2002 – 2008 when it TOO was lighter to be able to buy the WAGON and or the HATCH with a 6 optional.
Mazda6 MAY look nicer or “sportier” than Accord (but they both compete in a D segment class (not midsize)) and ARE BOTH fat AND BORING.
Nothing about how Honda IS here is present with Accord or Civic and Mazda is only fattening up the cars for sheer competition. — Honestly wouldn’t buy either.. TOO DAMN BIG.
As far as the IS and G35 goes, the IS WAS the rear driver with power, a 3ltr 6cycl from the GS from back in 2000 with the Sportcross / wagon. The IS NOW has a 3.5ltr 6cycl now (same motor from GS) and the G has a new stripper at the bottom of the heap called G25. On top of, they aren’t even in the same category. It be a lot easier to put the ES against the GS, especially the G25.
As an alternative, keep the Cobalt and rent something like a Mustang convertible for some of the long trips as a special treat. You can avoid the expense of a new car while getting some enjoyment driving something fun. Whoops – I just remembered you’re 21 and I don’t know what the rental car policies are if you are under 25. Still, it might still be cheaper than dealing with a new car.
Steve and Sanjeev both have given you sound advice. There really isn’t else you could add except pick which option is best for you.
i’ll just leave this here for those who have the money. it pretty much has me on a platter:
The “right” move hinges entirely on where he is in the loan. If he has even a penny of equity in it and he absolutely has to get out of the car then now is the time to do it. Hell, even if he’s dumped a little bit I would argue it’s a better idea to take the hit now while the car is still worth something. Then the play is to find a well maintained 5th gen ‘lude and enjoy the car and not having car payments.
Take the advice – having no debt, nicer clothing and being able to party at nicer establishments will make you more popular with the ladies than an SS Cobalt.
Many years ago I had the unfortuate experience of driving my barely 1yr old 1989 Hyundai Excel to a local mall where the stolen car rate was pretty high.
In a hurry I had left the keys in my fine ride. To my surpise when I came out, my 1989 Hyundai Excel had been taken. I wandered around the parking lot but no Hyundai.
I took the bus home, and notified the police/insurance company about my misfortune.
A couple months later, my insurance company settled the claim, and just barely paid off the Hyundai. They never did find the fine Hyundai….
Anyway, good luck with your decision.
Brandon, Lots of good advice here about avoiding debt. The sensible thing is to keep the Cobalt until a couple years after it is paid off. Apart from that, what’s missing from this whole discussion is that you’re not considering the supermarket. Since you’re comfortable with your cashflow you should consider non-automotive things you can do with your money. Clothes came up–excellent suggestion but, hey, buy them on sale. A couple months of weekly dancing lessons will pay huge, lifelong dividends with the women. Most people in your generation (both guys and gals, but double for the gals) don’t care a bit about cars–you get a very skewed view by reading blogs like TTAC which is probably populated mostly by guys 10-30 years older than you. Learn to play the banjo or some other instrument. Buy that piece of equipment that will help you become an expert in your chosen field or splurge on a professional conference that will get you rubbing shoulders with key experts.
Spend some time thinking about things you want that are not cars.
As a former college professor and parent of a college student, I think it’s great that you are working while studying. College has really been oversold as a time when you should be partying–at the cost of 4 years of your life (never mind the $) you really need to maximize your return. The debt machine aggressively targets college students because a 20-year old convert will pay dividends (interest) to the industry for a lifetime. I used to watch college students sign up for credit cards with usurious (if technically legal) rates because they got a T-Shirt or some stupid thing when they submitted an application. Once I even saw them lining up at a credit-card table in the quad for, get this, a bag of Skittles in exchange for a credit card application. I am not joking.
Avoid debt. Cars are not worth it.
Jeez,
Last time I looked..
This is a CAR website.. its BAD enough there are all kinds of numbers saying how people aren’t interested in cars. SO telling HIM to find other things to do besides being involved in cars.. IS NOT WHAT ANYONE WANTS TO HEAR!
As far as finding “fun” things to do, “learning to play the banjo”… (I’d guess that you are deep into your 50s as I am in my 30s, and Id guess He is in his 20s) just isn’t it! If I was his age.. Id find a CHEAP CORNER CARVER and spend my time working the car.. not going to dance classes.. and playing the banjo.
This is 2010, and last time I looked YOU are on a CAR SITE — competing with the 20million other sites and forums out there. — Nice job of talking down to someone.
And since this is a CAR website.. and what he has is a LUMP OF CRAP, he could find a decent Prelude, or a 1st gen Mazda3hatch cheaply.
As far as not going into debt and cars aren’t worth it..
You OBVIOUSLY aren’t driving THE RIGHT CARS.
See the article about the ’63 Tempest Lemans for cars GM hasn’t made in 30+yrs.. and still has trouble making cars that are worth a god damn! — Might jog your memory.
I wasn’t going to respond to this item since my response would be similiar to many others…but after reading Acc azda atch’s response, I feel I must.
Yes, this is a website devoted to cars and the auto industry. However, you’ll notice that the Best & Brightest are mostly made up of well-to-do folks who have always loved cars but probably made wise financial decisions to be where they are in life. Would you rather have a souped-up compact car at 20 with loads of debt or a nice sports car at 40/50 paying cash and also having your house paid off? I know which one I would choose.
So, why give someone poor advice? Why tell someone they should compound their debt with a higher monthly note (and possibly longer term) so that they’ll be stressed for an additional 4 years and during that time, the luster of their newer vehicle purchase will have worn off?
I am going to assume you don’t have a family or any other major bills (mortgage), otherwise you’d be singing a different tune. I bought a house prior to getting married, and after our first child my needs and desires changed drastically. Yes, I’d love to have a sports car next to our 07 Outback or 98 3.2TL but that won’t be happening. In fact, we just bought the TL ($4500, cash) because my wife’s 84 760 GLE finally died…it was either get another car loan or buy cash. If I’m going to pay cash, I’m not going to dwindle my savings so I decided that $5k was my cap. This will also allow us to spend another $5k or so on our kitchen this winter and still have plenty of money in reserve. So, I looked for some used compacts but found the Acura and it is a gem (original owner, well maintained at local Honda shop, etc…). Much happier having two car titles in possession and not giving a bank $300-500/month for 4 years. When the TL craps out, I’ll probably get an Impreza or Legacy but it’ll be used. I’d rather keep saving money for more enjoyment with my family and also pay the house off sooner. And then move on to the toys.
I do agree that selling the old Prelude for a Cobalt may have not been the best decision, but I imagine the Cobalt was chosen because it was a new car (better financing, better warranty) at a price point which Brandon could afford.
Finally, as a commuter, you don’t need a bigger engine or sport suspension.
So, yes we are car enthusiasts but we don’t want to have any regrets regarding finances.
TEXN3,
For the most part, I agree with your assumptions about paying things off and not buying a sports car. I ran into that issue on my own.. I’d tried buying the older used car to get credit going, at a higher rate, than the newer one (both Accords of different gens, newer one more boring) with lower rates.
I’ve never had a “souped up” sports car or a Sports car to say the very least (I.E Prelude / RSX). But a Cavalier / Cobalt = Cobalier is simply a bad decision / choice for anyone to drive after letting go of his original Prelude. Prelude was a nice lightweight tossable car that makes every driving occasion fun.
Forget “not needing sport sus or larger displacement”.. life is boring enough, every occasion to hit the road is one to have some fun. Ive never been the type to have the disposable income. With that said he could have bought a Civic SI 2ltr or a Mazda3hatch, or even a Accord coupe… just not domestic.
I have to be honest, I feel sorry for you if the enjoyment of your life is dependent on a car purchase.
I had a Mazda 3 hatch for 8 months, loaded out 2006 GT 2.3l. Lots of great options, it was lemon-lawed. Then I read that they had issues with motor mounts, rust, etc…should have stuck with Honda (EP3 Civic Si was tough to find) at that time or gone to Subaru like I had originally intended (and did after…07 Outback 2.5l 5MT).
Backing up to my first car through high school and college was a 1990 Integra, very similiar to the Prelude Brandon had…however, it was time to go after being 15 years old. It was a fun car and enjoyable to drive. But, it had over 150k miles and was honestly, not very safe as a commuter. These cars don’t stay new forever, and will require alot of work to keep them on the road…not everyone has that time/money/devotion. Yes, I miss the car but like Brandon, felt it was time to move on to something newer, safer, more reliable. Lighter cars are great on canyon roads, but not so much on interstates.
Finally, there is nothing wrong with domestic cars, they’re not all made equal. And if you label yourself as a car enthusiast, you’d be open to vehicles from all origins. I’ve always preferred Japanese cars, but I absolutely love the new Cadillac CTS, as Avis usually gives them to me as a rental. It’s a fantastic vehicle, and my dream family car is a CTS wagon with a manual. Hell, make it a CTS-V wagon with a manual. There are several other great vehicles from the Big 3.
TEXN3
Honestly..
No one’s life should revolve around any one aspect. I feel bad for you if you don’t like what ya drive. NTM sounds like you also are in your 50s. Are ya going to tell me to take up banjo lessons, stop driving sticks cause of joint issues and buy a nice safe car with awd?!
At least he could have researched other more interesting cars.. than just a base Cobalier. Domestic cars have been real garbage, with bright spots only appearing on the Ford side of the coin. I have major issues respecting CADILLAC as a car company for anyone who actually wants to drive, with the Caddy CTS-V wagon being the only bright star in a miserable division littered with garbage. I still have issues with the company as a whole, and putting that monster out there (surrounded by SRX, DTS / STS the coming ATS and the Escalade), isn’t going to make me buy from them and TELLS me their market. Ya sure the arm rest on the door is comfortable?
And being that the Caddy CTS-V wagon is at the TOP of the price echelon.. tells me its only worth it when ya shove a massive LSx motor into it, but no where to be seen if its not in a Vette or Camaro — which I wouldn’t want anyway. They still TELL YOU what to buy with their vehicles bordering on obese, generic, unpainted and BORING.
Gm is going through another PHASE where its o.k to foster what they think is a good car onto people.. as they walk through bankruptcy and public anger and ask the FEDS to remove the pay restrictions. Its only Ford who has a glimmer of product decency with Fiatsler being far behind.
Life is too damn short to buy a shit car. I’m not saying buy a “souped up vehicle”. I’m not even saying buying a older Acura (by which your 98 3.2TL was midsized, not compact). Just not a stripper Cobalier. With that said, ya can have a nice little commuter life to whatever job ya get.. doesn’t mean ya can drive a shit car that EVERYONE knew wasn’t worth the price of assembly a month into production. But GM sells cars based on their money on the hood.. not actual want.
Sounds like you have two nice “safe” cars. My Accord from 92 is / was just as safe as your Integra on the highways of Phila / NJ / MD / DE as the curvy roads. Repairs got too high and she started to suffer.
Fool me once shame on you, fool me twice.. shame on me.. ya not gonna fool me again.
“Last time I looked..
This is a CAR website..”
Look again, this is a TRUTH about cars web site. Lots of web sites do cars (Jalopnik, LeftLaneNews, autoblog, etc.). This one does the TRUTH about cars–and kudos to the editors and writers because that is why I keep coming back. One unavoidable truth is that cars are depreciating assets–especially those purchased new. Acquiring depreciating assets through debt is a really bad idea.
Another truth: cars are part of life, not all of it. I’m just making a modest suggestion to a young person (who asked for advice) about viewing this decision process as part of a larger whole.
And, yeah, banjo is an acquired taste that is definitely not for everyone. But if you don’t believe that learning to dance will pay off with the ladies, I modestly recommend that you undertake some field research. Identify women who are interesting to you and ask each one if she’d rather you got a car you considered cooler and just took her for a ride, or you learned to dance and used your present car to take her dancing. n>30 should give you a reliable data set.
I might sound like I’m in my 50s, but I’m only 28! We have a paid off 07 Outback which is the primary vehicle and the Acura. I should have been more clear, I was looking for a compact to just drive around but happened upon the Acura and it was too good to pass up even though it is an automatic (yes, my first AT vehicle). Gems like that don’t come up very often. I wanted something cheap to buy so we had money to upgrade our kitchen and enjoy family time without constantly worrying about bills.
My “dream” car is a CTS-V, mainly due to the concept…I like a big V8 stuffed in a family wagon…it’s just an awesome concept. I like wagons. I like my Outback for unpaved roads in the forests and mountains of Idaho and Montana. As well as being much more efficient and comfortable than an SUV.
It’s not that the Integra was not safe, but I was not as comfortable with it for commuting reliably or taking it on a trip. Especially when there is 200-300 miles between cities out west…not a convenient place to be stranded. With that said, I do wish I would have kept it even when I got the Outback but mostly due to sentimental reasons (I drove it all over the US, but that was 10 years ago).
When you’re driving down the road, most people could care less about the car you’re driving but more so about the driving ability you may (or may not) have. Unless your car is about to drop something on the road and cause a hazard.
FINDUDE:
I dont know what you are smoking.. but I KNOW its the cheap stuff.
Last time I checked.. it is THE TRUTH ABOUT CARS>… as penned by Robert Farago used to spit venom AND FIRE about how #)@*@*@ poor and pathetic GM / Chrysler / Ford were horrible companies (still are) that’s where the TRUTH comes from…
Not some generic comment about all cars are depreciating assets.
Hate to tell ya but pretty much everything depreciates.. and cars aren’t looked at as assets… only by those who don’t know what they drive, or drive Camrys and Corollas and swear by their longevity.. without the balls to drive a better car.
Im not going to go THERE about the hundreds of thousands of people.. who have lost their jobs cause a car you bought or didn’t buy.. didn’t last long enough or the company failed at redoing it (Taurus, GMT360s, Ubody Vans, etc etc etc.).
Cars.. ARE NOT APPLIANCES.
Look, you’re young and most of your mistakes are ahead of you. Allow me, as a middle aged guy, to prevent you from making one now. Just keep the Cobalt. Take my advice, kid. The worst thing you can take on is more debt. Your Cobalt is almost paid for, I suspect. Just pay it off, drive it 7 more years, and bank the money you save. Taking on a new $20k loan is not a smart move.
I’m not saying you should suffer in your car. But the Cobalt is not a penalty box. When I was your age, I was stuck with a 86 Escort Pony, no a/c, power nothing. Your Cobalt has a/c, a very strong engine, and a modern, sound structure. The Cobalt is not the “dog” people say it is. (There’s an astute review on this site that says much the same thing.)
You learned a valuable lesson…though you got what you thought was a “steal” on a brand new Cobalt you are now realizing that b/c GM had to throw so much money on their hoods that any loan you took out would far surpass the resale value of that car. I’ve stopped buying cars new due to the fact that you take the largest depreciation hit in that first year as the car goes from “new” to “used w/ 1 owner”. Hold onto the car and hope it lives. Pay it off and drive it some more and save up to buy in cash your next used car to replace it.
Agreed. You view your Cobalt as a mistake. Don’t make it more of a mistake and don’t make the same mistake twice.
The less you move around, the less it hurts…kinda like one of those Chinese finger traps maybe?
For longevity and reliability, buying the hi-performance version of anything really isn’t the best idea. The Cobalt SS will cost a lot more to operate and maintain than your plain-jane Cobalt and the insurance will be INSANE for a 21yr old male! The same applies to the Civic Si, although it wont’ be nearly as bad as the Cobalt! Do you really want another Cobalt anyway??? Haven’t you suffered enough?
NEW, I’d check out the Mazda3 (and Mazda6 if you’re cool with something larger). Dealers still have 2010 models, especially of the Mazda6, and they’re offering great deals. Both are fantastic cars to drive, they’re reliable and you won’t despise them in a year or two. I’ve actually kept my Mazda3 for five years and still love it. Before buying it in 12/05, I had owned seven other cars in my life and they were all Honda products (6-Honda, 1-Acura). The longest I kept a Honda was 3yrs and 4mos and I was sick of it (’96 Accord). The Mazda has been a lot of fun.
Other NEW cars- KIA Forte isn’t bad at all and has the 100k warranty; the upcoming 2012 Hyundai Elantra looks GREAT and will also have the 100k warranty; and while I’m on the 100k warranty- what about the Suzuki SX4? Or if your budget will allow, maybe even the Suzuki Kizashi!? They’re both very good cars that don’t sell well because of poor brand awareness and/or lack of marketing. Also, the 2012 Focus will be out very soon and it looks like a show-stopper!
USED- you can’t go wrong with the ’06-’07 Accord, love them and they’re rock solid, last forever! Not to mention, they’re not freakishly hideous like the Civic! The previous-gen (’08 and before) Mazda6 is a great used car deal and the closely related Ford Fusion is also. If you want something that’s a little more upscale (you mentioned BMW, but you do NOT want to pay to maintain, repair or insure one, trust me)….what about an ’06 or ’07 Volvo S60 2.5T Sedan? They’re fairly quick, reliable, safe and shouldn’t cost a ton to insure.
I don’t blame you for wanting out of the Cobalt LS…I’ve had one for a rental car before and it wasn’t a pleasant experience. There are worse cars out there, a Dodge Avenger that I had as a rental back in July is testament to how bad they still can make cars, and the Toyota Corolla I had for a month after I took the Dodge back was so boring I lack the words to describe my contempt….but I digress.
The question is- after only two years, can you get out of the Cobalt? Will you be able to break-even on the loan payoff if you trade it?
Not to rub salt in the wound…but you do miss the ’89 Prelude Si now? My best friend had a ’90 Prelude S in high school and it was a great car, probably still running somewhere out there. I had an ’91 CRX Si senior year, rolled it a few weeks before graduation, but lived to tell the tale….
Good luck.
What are you whining about? You already have the best deal on the road. Your stripper Cobalt is economical and that’s why you bought it! it’s a conveyance to get you from point “A” to point “B” for now. You have some income – save it! You have a job – keep it! You have a decent-enough car to get you through – keep it and drive it! Depreciation? So what? After a few years, cars are worth exactly what someone else is willing to pay you and not one cent more. Drive it ’til the wheels fall off! Take this advice from someone who’s been there!
This too, shall pass!
If this guy was a 30-something married dude using the Cobalt as an eco-commuter and nothing else, I’d say keep it and drive it until it dies (or you die of boredom or perhaps crash it into something because you hate it so much)….
But this kid is 21 and, let’s face it, nobody gets laid driving a Cobalt…seriously, it’s repellent to college-age girls (or guys, if that’s his thing…not that there’s anything wrong with that!)…I’m half-kidding but there is sadly some truth to what I’m saying. You can’t play the field driving a Cobalt (or Aveo or Corolla).
Oh puh-lease. The sort of person who would be attracted to your “hot car” doesn’t have good long term mate potential anyway. When I met my first wife I was driving a blinged out 1987 Oldsmobile Cutlass Supreme Brougham sedan. 307 V8 and enough chrome to blind a man wearing sunglasses (not to mention it was polished within an inch of it’s life, all by hand thank you.) She considered it an “old man’s car” but also understood it’s subtle appeal.
When I met my current fiance (and soon to be second wife) I was driving a 2004 F150 Heritage stand cab long bed and a Chinese scooter. Her comments about my scooter? “Well good to know you’re not trying to compensate for anything.” And the F150 didn’t get me laid other than allowing me to go a little further off the road than a car would have, and then… well it does have a bench seat and a column shift… (wait what were we talking about?) {dang sometimes even I think it’s hard to believe I’m 33yrs old}
99% incorrect. You’ll get way more play/respect/action with a top-tier gym membership/D&G trimmings/gourmet dining than you ever will being a fat slob in a nice ride.
It’s a car. If the girl I’m interested in is that interested in my car then I’m not interested in her anymore.
I must have gone to the right school then because nothing was a repellent to those particular college-age girls.
The gonorrhea was unfortunate though…
@alja – Thanks for making me grateful that I was chubby and socially awkward ’till my my mid 20s. ;)
The sort of person who would be attracted to your “hot car” doesn’t have good long term mate potential anyway.
The sort of person who’s looking for the sort of person who is attracted to their car probably isn’t looking for a long term mate, unless “long term” means “the whole weekend”.
“99% incorrect. You’ll get way more play/respect/action with a top-tier gym membership/D&G trimmings/gourmet dining than you ever will being a fat slob in a nice ride.”
Add in a bike, and he’d best dress for the wet weather cause it’s rainin’ bitches.
If you do sell the Cobalt ensure you check under the rear seat for any accumulated coins before letting it go.
I need to save this thread and come back to it every time I get the new car bug. Some good advice here.
DOOOOOOOOOOOOOON’T DOOOOOOOOOO IT!!! I bought a 2005 Cobalt 2 Dr 5spd LS.. realized in a year it was not the car for me I sold it at an 8k loss..