advice on first car purchase

hi guys, so i currently drive an old 1998 toyota corolla hand-me-down from my mom, and as i'm set to graduate from college (undergrad) soon, my dad has offered $20k for me to have complete freedom in financing my own car. $20k is likely my maximum cap, i know if i ask for more he'll hit me with the "when i was your age i walked 10 miles uphill both ways" argument. however i am willing to supplement that with a few thousand on my own, so imy total budget is a bit above that (although i'd rather keep my savings). i'm looking for most likely a USED car, my current choices being a couple of sportier models, including an rsx type s, lexus is300, or a g35 coupe. this would most likely be my daily driver (i don't drive much, <100 miles on a normal week), as well as keeping my corolla and using that as a beater / rainy day/ run errands car. i'm willing to look into some other models, so if you have some suggests, please suggest away! i've never done this sort of thing, and would like some advice from the older members on this board...what to look for, what to ask (private sellers vs. dealers), telltale signs of when someone's trying to rip me off, how to bargain with dealers, etc. i've looked through autotrader.com as a starting point, and found a few cars that interested me, but i'm not sure how to go about these purchases. thank you for any suggestions and helpful comments!

20k will definitely give you a lot of flexibility unless you go with a g35. first two years of g35 had slight problems. Lexus is300 is a good bet RSX type S is a good bet I would consult actual car forums to narrow your model: http://g35driver.com/forums/ http://honda-tech.com/zeroforum/32 http://www.clublexus.com/forums/forumdisplay.php?f=166 If it were up to me, I wouldn't blow all 20k on your first car. See if you can work something out with your dad where you spend, say 15k on the car and he gives you the other 5 to invest or something. Also since you already have a reliable car, you can exercise more caution and also wait until an awesome deal comes up for you. Also if you're going to buy a used private party car, craigslist seems to be what everybody uses these days. Since you're looking at buying a used sporty car, make sure you go wtih someone who knows about cars go with you when checking them out. Watch for clutch wear if you're looking at manual, judge the person's driving style (do that to judge engine stress), etc... Hope this is a good starting point for you.

Given how little you drive, I would get a lease and use the $20K for your payments and insurance, which at your age, is still pretty high... especially on the cars you are looking at. In the mean time, that cash could be sitting in some sort of investment, erring on the safe side of liquidity, a CD or Muni should do the trick.

I was in a similar situation, and I kinda wish I did that. Instead I bought a Honda Accord financed at 0%, 10K down, 14k in the bank. It worked out, but I hardly use the car (which I didn't think was going to happen) so I could have bought something more fun.

It seems like you're leaning toward a small sports car. For mid-20s, you can get a fairly late model BMW 330Ci. Otherwise, the G35 is a good pick. I wouldn't buy the IS300 because it's boring to drive--Toyota boring. The RSX Type-S is a bit too much of a ricer. Unless you plan to modify the **** out of it, a la Fast and Furious style, I'd stay away from it if I were you. Another one you might consider is a WRX STi. It's a hoot to drive and fairly reliable. Also, don't get a Merc C class. It's an overpriced POS.

FOR USED, HAVE THE CAR CHECKED OUT MY A MECHANIC/DEALERSHIP BEFORE YOU HAND OVER ANY MONEY

this is in caps because it is of the most importance when buying a used car

thanks for the advice so far!

it looks like i'll be settling for something a bit cheaper, as some have said it doesn't seem too smart to blow it all on my first real car purchase. insurance and mechanical check ups can get pricey as well.

i'm not too big on the wrx, i love how it looks but i want something more low-key for my first car. the rsx is a bit ricey, but it's a car i've wanted since it came out and would have sentimental value (in that beautiful arctic blue!).

good idea on the craigslist thing and the mechanic checking it out first - i'll definitely look into both.

Originally Posted by stickonatree

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thanks for the advice so far!

it looks like i'll be settling for something a bit cheaper, as some have said it doesn't seem too smart to blow it all on my first real car purchase. insurance and mechanical check ups can get pricey as well.

i'm not too big on the wrx, i love how it looks but i want something more low-key for my first car. the rsx is a bit ricey, but it's a car i've wanted since it came out and would have sentimental value (in that beautiful arctic blue!).

good idea on the craigslist thing and the mechanic checking it out first - i'll definitely look into both.

Why not pick up a Civic Si if you want sports-handling?

Learn what this is for, it will come in quite handy. As complicated as the engine bay looks at first there is nothing that a normal person should not be able to fix in a car. Its all held together by bolts and screws and little pop clips. This might sound like a party killer, but I would use the 20K to pay off any student loans you have. A car is a depreciating asset, loans tend to get bigger A 1998 Corolla isn't a bad car and should last just shy of forever.

From my experience, I would not reccomend an RSX. My buddy has one and whoa so many problems. Maybe it's just his car but once he fixes something, something else goes wrong. I suggest the 350z, TSX, possibly the TL? C230?

If you want something sensible, why don't you go for a Jetta?

Originally Posted by stevejobs

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Why not pick up a Civic Si if you want sports-handling?
i'm not too fond of the styling, and the rsx has sentimental value for me (first real "car love" )

Originally Posted by DarkNWorn

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If you want something sensible, why don't you go for a Jetta?
i love the hatchback styling of the jetta (and rsx, and mazda3), although i've heard bad things from VW's having many problems. if this is false, please let me know, i would be much interested in this car as well!

Keep the Toyota - take the $20k and go to grad school. If five years you'll be in a totally different place then you will be if you buy a car rather then looking at a used car you'll be able to buy whatever you want new. Invest in yourself not a car.

I was in a similiar situation about 18 months ago and ended up with an '02 330Ci for 21.5K with 32,000 miles. I am fairly certain there is no way I could've done better in my price range. Could I have gotte something for 10K and invested the rest? Sure, but I would not get excited about driving every time I have to go somewhere, and that is priceless for me. If you are really into cars, it's a legitimate investment into your quality of life, if your not, fine, invest elsewhere. It's up to you to decide what's important.

Out of your list, my vote is for the G35 coupe.

Originally Posted by ms244

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Learn what this is for, it will come in quite handy. As complicated as the engine bay looks at first there is nothing that a normal person should not be able to fix in a car. Its all held together by bolts and screws and little pop clips.

This might sound like a party killer, but I would use the 20K to pay off any student loans you have. A car is a depreciating asset, loans tend to get bigger

A 1998 Corolla isn't a bad car and should last just shy of forever.


Flare nut wrenches, i hope he doesnt have to change brake or fuel lines on a relatively new car!

Originally Posted by breakfasteatre

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Flare nut wrenches, i hope he doesnt have to change brake or fuel lines on a relatively new car!

Good call

I grabbed a random wrench picture off google, it was too big. This was the next one.