^^

that is the lamest thing that one should be proud of... I speak of "drinking. A lot.".
Who are you trying to impress?
I think you should stick with corolla. Much better mileage, (if its a V6) it can move, parts are WAY cheaper and toyota is more friendly to car clubs etc..
Stick with the car, and then get what you want when you can truly afford it.

And what is the eagle scout anyway? Does it give you an extra cred on your resume or college papers? not bashing, I just don't know what it is.

 

Alright well I apperciate all the responses. Thanks.

 

that's funny you say that your friends have these newer nicer cars, cause in 10 years when your nearly 30 you are going to look back and see how silly it was. I am sure you will take this as an insult but I assure you its not. think to your self, do you want a nicer looking car with more power that eats all you $1000 a month or do you want to be able to go out with your friends when they call and not have to say no sorry I don't have the money for gas?

 

no problem. let us know when you need liver transplant donations.

 

Corollas have never come in v6. Toyota parts are not cheap, it is one of the bigger drawbacks, is that the parts are expensive to replace once broken. If you ever break the radiator on you g, it's gonna cost you 200 to buy the new part. If the one on my corolla breaks, it's 500 to buy a new part. It cannot move at all, and I am getting about 25 mpg.

 

dude i dont even get 25mpg when my car is off.

 

yeah, you're right. I thought of camry.

But toyota parts are not that expensive. I am coming from that community.

 

that is hilarious. i laughed out loud on that one. our cars get about 15 to 17 in the city if you take it easy, like keep it around 2k rpm easy

 

=) =) =)

 

I don't take it as an insult, and I know what your saying. It just seems so easy for me to do it right now, then ride out the g35 till it dies. The only real drawback I see is the price of brakes and tires, which I would just buy cheaper and longer lasting ones than the stock verison.

 

i got my G ..3 days b4 my 20th birthday..it was july 31st when i got my used G for $23,500....with 25k miles...i saved up $1500 for a dp...and my parents gave me $1500 so 3k for a dp.......and my mom co signed for me...and they also pay my insurance....i just pay the car note....but i work 6 days a week 9 hours a day...so dont say im spoiled..

 

LOL! Well just to me, this car seems like it gets decent enough gas mileage. My car before this Corolla was a Jeep 4.7L V8 which was getting 11 mpg on a good day, but that thing was fast. And corolla has good handling. I want the best of both worlds, even thought it is not the best in either.

And Foques, what did you get replaced that was cheaper? I was looking at thepartsbin.com for the price of parts and it seemed that the Corolla parts were more expensive, or maybe the newer ones are. I trust you, I just haven't seen more expensive parts for the Toyota yet.

 

What's a dp? My parents would also be paying my auto insurance, or at least half. I will also be letting my sister use this car while I'm in college, but I feel ya on the work, I'm working 11-8 today it's money though.

 

down payment

 

Where did you find and 05 coupe with 26,000 miles for only 20K? Did I read that correctly, it seems very cheap!

The real question is weather you can afford the car...have you thought about all the expenses in your everyday life?

I'm guessing the corolla is going to be worth 13,000 trade in so that leaves you with 7,000 to pay on your own. 7,000 is not that much money for a teenager to pay for on their own, specially if they have 4 years to pay for it. thats only about $150 a month...very cheap!

Now you have to factor in the cost of gas depending on how much you are going to drive it. We'll say $100 every 15 days, so $200 a month for gas.

then you have to add in insurance, I have no idea how much that is now days but we'll estimate $250 a month since you are going to want full coverage.

You also have to put in some money for mods, I highly dough you are going to keep it stock all the time. We'll estimate $100 a month average for that.

Aside from all of this you still need money for random entertainment like going out on the weekends, or taking a date to the movies. You don't want to be the guy who never has money to go out with his friends. Realistically a real simple date now days will run you about $80 dollars. (dinner = $40; movies + popcorn + drinks = $38) Multiply this by 3 or 4 times a month thats $240 to $320 a month. We are going to estimate a happy medium of $280 a month.

Plus you are going to need miscellaneous money, this is for when you feel the sudden urge to buy something simple like a coke, or a burger...1 burger a week for example is $7. times 4 weeks is $28. So factor in $30 dollars for miscellaneous stuff.

Now add all this up.

150 + 200 + 250 + 100 + 280 + 30 = $1010 a month.
this is not counting any other bill you may already have.

Now lets look at a realistic scenario of how much you will have to work to make this happen.

I have no idea how much you will earn at your job, could be $15 an hour or $7 an hour. We will say $9 an hour just to pick a good medium.

so lets say you bust your a$$ and work a full week + go to school. Thats 40 hours of work a week. That gives you $360 dollars that you earned. Times 4 weeks thats $1440. Now you have to take away the taxes. Multiply your earnings by 22% thats how much you can expect to loose after taxes and benefits for this tax bracket. Thats $316.80 in taxes a month that you will pay, minus the original $1440 leaves you with $1123.20 a month.

So you have: $1123 - $1010 = $113

After it's all said and done you will have $113 dollars left a month in this perfect scenario, just don't forget that there is always expenses that are unforeseen like other people's birthdays, Christmas, flat tires, etc...etc...
Not to mention if you are sick for just two days a month you will already be $30 behind on your budget.

You should always over estimate to cover for any unexpected expenses. Maybe you should sit down and figure out if you can really afford all your expenses, ask your dad for his help. If you are confident that all this can be achievable then by all means go ahead and do it, however if this seems too much then maybe you should take a step back and wait a few years before taking the plunge.

good luck