be honest

[deciuss]

im at a stand still on what i need to be saving up for the second schools out this semester. seeing all the new gen civics has goten me to queston my choice again

continue the work on the civic or get a new car.

the civic by the time it is done this summer it will proably top out around 300hp and will most likly be only a 13 second car. not all that great but the cars payed off and it would be a nice sleeper type car.

the second choice i have looked at is a bmw. a bmw will be my next car no matter what it just depends if its this summer or another 3+ years from now. the bmw that im looking at is the 330xi awd 225hp. buying this will set buying a house back a few years but i think i may finaly be happy with the car i drive. (is any one ever happy with the car they drive or do they always want more?)

discuss flame whatever im trowing my hands in the air i just dont know what to do

[Junky Giorgio]

sell the civic and get an M3... just my 0.02 :party:

[jbiscuit]

sell the civic and buy a bike.






















Schwinns, Trek....whatever. Anything has to be faster! :thumbsup

[Flight_740]

I would make the house #1 priority right now. Thats the boat im in. Think about what you could have with some equity in a house.

[deciuss]

the civic is nice for what it is but in the end its still a civic. it is fun at times thow to have people want to race and kick there butt and see there :wow expreson.

[deciuss]

that is true about the house thing. my gf and i are putting every extra cash we get into my mutual funds but not paying 450 a month for that bmw would = that much more each month.

[jbiscuit]

Trek! :thumbsup

[deciuss]

i own a trek actualy to fat to ride it thow

[jbiscuit]

in all honesty, you aren't gonna be able to buy a house while you are in college. ****, even after college and working full time I STILL can't afford a house. Unless you are planning on living in Necedah or Red Granite Wisconsin where a house can be had for $38K or something silly. Taxes will kill you. Not to mention all the maintenance costs. Bout the time you think you have $50 in your pocket, that moeny will be gone cuz you will need that $50 for a new hot water heater or a faucet or something.

A home is a GREAT investment but you need to be financially set in order to even consider getting into one. A guy in college full time has no business even thinking about one.

just being "honest"

[deciuss]

edit: not going to argue

[jbiscuit]

alright, since you know everything...go buy a house then. Or at least go apply for a mortgage and then post your results on here.

You have no idea what you are talking about. The only way that YOU MIGHT get a bank to borrow you money for a home is if:

1) you get mom to co-sign
2) mom fronts you $10,000 towards the down payment
3) mom pays your mortgage CUZ YOU ARE A FULL TIME STUDENT WITH NO FULL TIME INCOME

see a pattern here?

[deciuss]

i know how to save and to be honest i did not even flinch when i took out cash for my turbo ect ect the reason? i have saved since i had a job at the age of 14 - 19 and i invested. on top of that i do very well with bills now expesualy food bills feeding 2 people on 50 bucks a week is darn good. on top of that i dont go out and spend 30 bucks at bars or on alcohal every week. i look at what i have i look at what will be needed down the road and i save every penny i can.

[SlowStee]

in all honesty, you aren't gonna be able to buy a house while you are in college. ****, even after college and working full time I STILL can't afford a house. Unless you are planning on living in Necedah or Red Granite Wisconsin where a house can be had for $38K or something silly. Taxes will kill you. Not to mention all the maintenance costs. Bout the time you think you have $50 in your pocket, that moeny will be gone cuz you will need that $50 for a new hot water heater or a faucet or something.

A home is a GREAT investment but you need to be financially set in order to even consider getting into one. A guy in college full time has no business even thinking about one.

just being "honest"
Couldnt agree more....Why would you want to stress yourself worrying about a house??? How old are you anyways? If your under 20 and worry about a house thats a complete joke....Have some fun, buy some toys, mod the **** out of them, Either way your probably young...so be young.....I seriously dont understand why you would want the burden of a house right now?? :confused
Stop bein a homo and buy the friggin M3 :D

[jbiscuit]

Stop bein a homo and buy the friggin M3 :D

this is a hilarious remark! :thumbsup

[Prince Valiant]

I say just buy something cheap and reliable. Not an M3.

If you truely want to buy a house at some point, then you've GOT to have a newer car...the bank frowns upon loaning money to a person when that person may have to invest in a new car in the first few years of home ownership, OR invest in large repairs.

You've got the stuff for your civic, so keep it as a project car and finish it for not alot of money.

Want a new project/fun car and "have your cake and eat it too"? Again, buy the VERY affordable newer car (Cars like ford tarus, crown victoria's, chevy impala's/grandam's/etc/intrepids can be had very very cheaply and are reliable and will satisfy the banks as far as your transportation needs quite nicely) and then buy an older car...whether it be a muscle car/older 70's car/old style import like a datsun 510, it doesn't matter, whatever floats your boat, and work on that.

Word to the wise...the BEST and CHEAPEST projects would be mid and late 70's cars...can be bought cheaply, generally have all the aftermarket support of the more popular early 70's late 60's cars, and since they are 20+ years old, can be registered to never have to pass emissions again...

It IS possible to buy a house though...I have a single income, and don't make all that much money, but was able to buy a house. My mortgage cost me what a nice apartment would, including property taxes/ins/etc. Maintenance can be tough though...new furnance and AC last summer kicked me in the groin, baddly. But with tax breaks, etc, I do well...

...to get a mortage, you just have to be creative...I went to a friend of mine and he helped out a ton, helping me get things in order to make it possible.

[fireguyrick]

To be perfectly honest, I would save for the house. PROVIDED, your car is in good shape and will last for another 10 years. Not saying you have to keep it that long, but I agree that having RELIABLE transportation is VERY important.

That being said, my wife and I are looking for homes right now, and it is a PITA. We have ~50K for a downpayment (We managed to save 30K over the last 3 years, and the rest is from Wedding gifts) Even with that it is still a PITA. We did not have any issues getting our pre approval from the bank so we can go shopping, but the issues is the houses. We are looking at the 190-210K range, since we want to build in about 10yrs. TAXES are the KILLER for us. Most of the places we like are 4500-5500 a year in taxes minimum. That all has to be considered when you buy a house. Sure you may have enough income to pay the PMI, but depending on where you want to live you could be adding another 300-500 dollars per month for taxes. Than you have all the OTHER expenses...things really creep up FAST with a house. It is worth while to own your own home, but when you do own one you ALWAYS need to have money stashed away, since when something breaks you cannot call your landlord to fix it.

Just another thing, I do not know your situation with your G/F, but if you are considering her income as being able to help pay, DON'T DO IT. Wait till you yourself can, or you are married. I have known lots of people that bought their first homes like this, and MOST (not all) ended up in Bankruptcy because money issues killed their relationships, and the GF/BF moved out since they did not have any name attached to the house.

Rick

[turbogarrett]

I would start a ROTH IRA with some of that extra cash and a few years down the road you can withdraw the money without penalties for a down payment on your first home. If you are a student without a full time job, there is no way you will get financing for a home. Save some money now, buy a multifamily down the road and let your tenants pay for the toys.

Whatever you do, ditch the civic :D

[Syclone0044]

Why would you want to get a small displacement FWD car when you could get a large displacement RWD or AWD car? :confused

[Lash]

I just bought a new house instead of buying a new car. It's well worth it. I'll just be stuck with this crapalier a littler longer than expected. :chair:
Ahh well...it could be worse than a cavalier.....I think :chair:


Buy now while the interest rate is still LOW! if you can't buy now...at least save for one. You wont regret it. Buckle down while youre young and you can have all the toys later. It'll pay off.

[deciuss]

hey you could have a focus :)

[PB86MCSS]

What Prince Valiant said.

Any college kid looking to buy an M3 is plain retarded. Why do you *need* a new car, especially a BMW!? Easily one of the dumbest financial moves....get something a few years old and reliable, if you feel the need for something newer...no shame in an older car that is just as reliable and even cheaper yet too :).

For a performance car, get something you can own right away, not make payments on. Then modify as funds allow. Add in 80's cars to what Prince said too ;). F-Bodies and G-Bodies are great for mods and can be had at very nice prices, if you find the right ones.

Buying a house in school is somewhat crazy to me too, but its alot better than trying to buy a new car, especially one thats out of your range. Wait awhile before getting a home, IMO. But get that over a car you have to make payments on, IMO.

I will probably never own a new car, I'd rather get a house(in a few years hopefully) and modify other cars...more bang for your buck :shades .

[Yooformula]

1.Buying a house with GF is a bad idea. Plain and simple they have nothing to lose so they can walk.
2.If you dont have a steady income, you wont qualify for a mortgage, unless you buy a foreclosure in the hood for $25k.
3.You have your entire life to be stuck in a house payment, why start so young?
Thats all I got.