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First, let's start out with the life cycle of a 20+ year-old pre-owned luxury automobile. We'll use the Jag for this example but it applies to several other cars:
First owner buys a new Jag because he likes the styling and all the luxury features it offers. It's either his first Jag and does not really know the amount of maintenance a Jag takes or has owned several in the past and understands what he's getting into. Either way, it doesn't matter; the car will have a warranty for the majority of the time he owns it. After three years, the warranty runs out. The car has been in the shop several times in the past three years and the owner is slightly concerned about owning the car out of warranty. Figures he'll take his chances for a while, after all, the car has been running pretty good the last 6 months, maybe they fixed all the problems. Besides, if it gets too problematic, he'll just trade it in on the new Jag he's been eyeing. After a few months the sunroof fails; dealer quotes him $500 to repair. Doesn't use the sunroof that much and winter is on its way and he won’t need it for several months so passes on fixing it. That new car is looking more and more enticing. Later, the passenger side window fails resulting in another $500. Major service is coming up, the car needs new tires, a few minor electrical issues such as the sunroof and power antenna have arisen, and the car has some door dings and scratches, etc. Seeing that the car is going to require a substantial amount of money to keep running properly, and after four years of ownership, he sells or trades the car for a new one.
Second owner likes the styling and all the luxury features it offers. Could never really afford a Jag before but this is within the budget although it's at the top end. Dealership fixed some of the problems but the sunroof still doesn't work right and it still needs its major service performed. Second owner doesn't have enough money to keep up on the schedules maintenance (because remember, the car was at the top end of the budget – didn't save any money to make the car proper). Car still needs tires but owner only replaces the two worst and does not buy the same tires that originally came with the car because they are so expensive. Car begins to run rough, transmission fluid is long over due, brakes are due, exhaust leaks, and more and more electrical gremlins are popping up. Second owner can't really get rid of the car yet because he owes more than its worth but ultimately sells it after 4 years or so.
Third, fourth, and fifth owners like the styling and all the luxury features is offers. Could never really afford a Jag before but this is within the budget although it's at the top end... See where this is going? I'm not saying all luxury cars have this life cycle but it's very common. You really don't want to be a part of this cycle.
Second, let's talk about the $6,000 conundrum. So is your entire budget $6,000? If so, and you buy a $6,000 car, how will you pay the taxes and licensing fees? Don't forget you'll need money to fix things that the previous owner neglected to tell you about (whether intentional or unintentional). If you have $6,000 for a car you should be looking at spending $4,000 for the car and having some reserves to make the car truly road worthy. And if you can find one of the cars on your list for $4,000, you should pass on it. Remember, the cost of a car is the initial purchase price AND the cost of keeping it running. Sometimes the running costs far exceed the purchase price - just ask a Maserati Bi-turbo owner.
As I recall from some of your previous posts you're in high school or just recently graduated, is this correct? If so, you have a lot of time to make people hate you. Look, if you are going to college the last thing you want is to be bothered with a problematic car. Wait until you can truly afford one of the cars you listed. Buy something that will serve you well until you have a steady income rolling in. Several years ago a mechanic told me the best car I could buy was an entry-level Japanese car. They are the most reliable, easy to maintain car and will last longer that you really want them to. Subsequently, I bought a Corolla that took me though college and a bit beyond until I could "upgrade". Best money I ever spent on a car – I NEVER worried about it. Did people hate me? Sure, but not because of the car I drove, they hated me for entirely different reasons all together. Yeah, the Corollover was an appliance but that's exactly what a college student needs.
I think someone else mentioned VW and I would concur. They are a more enjoyable appliance than a Japanese car but at least won't break the bank when the break down. Another advantage is that with a few tools and know-how, you can perform many of the basic repairs. If you have to have European, the Jetta (in GLI or the VR6 editions), GTI, and Corrado can be quite fun to drive and will allow you to live within your means.
- Craig
posted by 207.109.18...
, Mon, 5 Jun 2006 18:06:17
, Sun, 4 Jun 2006 16:15:48
, Thu, 8 Jun 2006 20:54:22, Sat, 3 Jun 2006 18:46:24, Thu, 1 Jun 2006 15:24:00, Wed, 31 May 2006 17:23:14, Sat, 3 Jun 2006 11:43:42
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