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Old 09-26-2012, 11:58 PM   #25
hyper4mance
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Drives: 13 BRZ, 97 e36 M3 Rides: '07 600RR
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Garage
If you think the juice is worth the squeeze then go for it, but don't lie to yourself on why you are getting it. Think hard about your needs vs. wants. The car will be around for a while - used or new. I'd suggest to create a monthly budget to see how your finances play out. Include if you had to pay rent/utilities, gas, food, savings, retirement (TSP and/or IRA), medical expenses, etc. and prioritize what you can't live without.

What is your purpose for getting a new car? Do you need a new car while going to school? Are you willing to postpone getting a new car since this is the first generation and they will fix the 1st gen issues? What if you can't find a job after completing college? Are you planning on settling down anytime within the next 5-10 years (purchase a house)?

As much as I hate to say this, I'd hold off buying it if I were in your situation. My personal opinion its a good idea to keep 6-12 months of salary in some sort of liquid savings in case the sh*t hits the fan, but then again I have a mortgage. With this economy, there's a lot of uncertainties so I like playing it safe financially. I think 6% interest is robbery and in the meantime I'd build up credit, get a used car for commuting purposes, get a steady job out of college, then buy my toys.
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