Worth buying a car before starting medical school?

[libraryismyhome]

I am a spoiled child and my dad is willing to buy me a new honda accord for getting into a medical school. This may sound like a typical story of a rich child, but I am not rich and my parents are not going to provide any support on tuition and living cost. Therefore, I am debating on whether to get a new car or ask my dad to spend that money to lower my debt though the cost of honda accord would barely cover one year long tuition at my state university's medical school.

However, I have been driving my 2002 honda civic since my high school and it has been okay. It has 110,000 miles on it and has taken me to everywhere.

Over the course of 2 years, I decided to go through regular maintenance and spent $1,500 of my income. Now the tires are new, battery is new, break pad is new, rotors are new, break fluid, transmission fluid are recently replaced. and I use Mobil 1 synthetic engine oil during oil change. Nevertheless, selling this car would only give me aroud $3,000.

But knowing that med school is roughly 7 to 10 years long, and I am thinking about getting a car that doesn't worry me for next 10 years. Should I take this offer from my dad or ask him to lower my debt?

---

Members don't see this ad.

 

[Brain Bucket]

Debt. Better yet, cash. You can have a lot of fun with 10-15k.

Sent from my SM-N9005 using Tapatalk

 

[SpartanWolverine]

With good maintenance, your Civic should take you to at least 200k miles. I would tell you to take that 22k and use it for tuition/living expenses. If your car does eventually poop out, you could get a ~2010 Civic or similar car for under 10k.

 

[ZeaL6]

The new car would be nice, but Hondas (if taken care of) can last you 250-300k miles, so I wouldn't worry TOO much about the civic.

Edit: Johnamo beat me

 

[username456789]

A new car depreciates as soon as you drive it off the lot.

I'd have him put the money towards tuition and wouldn't even think twice about it.

 

[MedWonk]

110k miles? That car still has plenty of life left in it, especially after going through regular maintenance like you said and having no major issues in the past. I'd say keep the Civic and have your dad pour whatever he would've spent on the Accord into your tuition/CoA.

 

[DocVapor]

I agree with all the others. Your car will last you at a minimum until residency. A new car would be a loss, including extra maintenance money later. Have your dad put the money towards this year's tuition, and in the end it would save you enough money to stop thinking about Hondas and start thinking about BMW's.

 

[Dr. Yes]

Get it! Then sell me your civic for 3k

 

[HatWobble]

I'm gonna be a contrarian and say to take the new car.

That car's 12 years old. Who knows what kind of problems you may have with it over the next several years, and how much money that's going to cost you to repair it? Granted you just installed a few new parts, but there are always other things that can go wrong (pumps, hoses, belts, bulbs, etc.). If you get the new Honda, it will come with a warranty and those repairs for the next few years at least will be on the house.

Also, you're going to have trouble making it to your rotations on time if that old thing's in the shop constantly. People who say that Hondas last for 250k miles are not considering that that is the best case for those cars. Lots of them have problems and need to retire earlier than that. It happened to my old '99 Civic (RIP).

Lots of technology has been developed in the past 12 years to make cars safer, more fuel efficient, more powerful, and more convenient, as well. How much does power does that '02 four-banger have, like 110 HP? You can get much more power with much greater fuel efficiency nowadays. Not to mention "luxuries" such as Bluetooth, which come standard on lots of models now.

Your dad's probably offering to buy you a new car because he wants you to drive a new car. It'll make him happy to see you driving around in it. It's like if I bought you a some fine china for your wedding. I'm buying it for you so I can be have the satisfaction you'll use it. Sure, that money may be better spent on diapers for your kid or a down payment on your mortgage, but I don't want to pay for that. I want to buy you china. Of course you know your father better than I and would be in a better place to judge whether this consideration holds water for him.

P.S. Don't get an Accord. Back in '02 the Japanese cars were the best bang for your buck, but nowadays American cars (Ford/Chevy) are the best deals and with highest quality. But you don't have to take my word for it. Plus the Accord is such a typical old lady car (just my opinion).

 

[SpartanWolverine]

I'm gonna be a contrarian and say to take the new car.

That car's 12 years old. Who knows what kind of problems you may have with it over the next several years, and how much money that's going to cost you to repair it? Granted you just installed a few new parts, but there are always other things that can go wrong (pumps, hoses, belts, bulbs, etc.). If you get the new Honda, it will come with a warranty and those repairs for the next few years at least will be on the house.

Also, you're going to have trouble making it to your rotations on time if that old thing's in the shop constantly. People who say that Hondas last for 250k miles are not considering that that is the best case for those cars. Lots of them have problems and need to retire earlier than that. It happened to my old '99 Civic (RIP).

Lots of technology has been developed in the past 12 years to make cars safer, more fuel efficient, more powerful, and more convenient, as well. How much does power does that '02 four-banger have, like 110 HP? You can get much more power with much greater fuel efficiency nowadays. Not to mention "luxuries" such as Bluetooth, which come standard on lots of models now.

Your dad's probably offering to buy you a new car because he wants you to drive a new car. It'll make him happy to see you driving around in it. It's like if I bought you a some fine china for your wedding. I'm buying it for you so I can be have the satisfaction you'll use it. Sure, that money may be better spent on diapers for your kid or a down payment on your mortgage, but I don't want to pay for that. I want to buy you china. Of course you know your father better than I and would be in a better place to judge whether this consideration holds water for him.

P.S. Don't get an Accord. Back in '02 the Japanese cars were the best bang for your buck, but nowadays American cars (Ford/Chevy) are the best deals and with highest quality. But you don't have to take my word for it. Plus the Accord is such a typical old lady car (just my opinion).

I totally agree that there are some fantastic cars out there that I would pick over an Accord. Heck, even the new Fiesta is better (though I'd go for the ST model -- those Recaro seats + 1.6T + fantastic 6-speed gearbox = ).

 

[colbgw02]

Keep the Civic. Take the cash. Invest in lotto tickets. Thank me later.

 

[Stellar Clouds]

Keep the Civic. Take the cash. Invest in lotto tickets. Thank me later.

Starting to understand why healthcare industry is in the ****ter.

 

[TheWeeIceMan]

I'm jealous of your Honda sized state school tuition. I would need an MB/BMW/Audi to cover my tuition.

My vote is for keeping your current car and using the money on tuition. However, it's possible your dad offered the car so he'd feel more comfortable knowing that you have a new car and won't have to worry about your old Honda breaking down while you're away at school. If that is the case, he probably won't want to just give you the car's cash value.

 

[HLxDrummer]

Definitely don't get a new car. Personally I would keep he Civic and pay down those loans. Worse case scenario you car blows up and you use loan money to get a car for 5K. Best case scenario your car lasts into residency and you reduced your loans (and all the interest associated with that money). Plus insurance will be more on a new car.

I would put a few grand of that money into a safe in your apartment in case you need it to repair or buy a new car or something suddenly, though.

If you really want a new car you can sell your car for more than $3,000 (private party). I would then just buy a decent used car. I bought a totalled 2007 Forester Premium, fixed it, inspected, etc. for about $5,500. 60K miles and minty.

PS Before I bought the Forester, I was driving a modified 1993 3000GT VR4 with 180K miles on it as a daily driver. Drive it through the snow in the winter and beat the **** out of it in the summer. I finally got tired of worrying about it and got the Forester for a daily, but I never really had a problem with the VR4.

PSS My tuition is over $50,000/year. I hate you.

 

[Lucca]

Sell the car, buy a 1 yr used American-make when the lot is changing out model years. American dealers have a lot more room to negotiate and you can land a good 1-2 used car with like 5-20k miles on it for like 7k. No loss in depreciation, essentially you are paying 4-5 ish k for a basically new car.

Dump the rest of the money in tuition.

 

[xroc]

Definitely don't get a new car. Personally I would keep he Civic and pay down those loans. Worse case scenario you car blows up and you use loan money to get a car for 5K. Best case scenario your car lasts into residency and you reduced your loans (and all the interest associated with that money). Plus insurance will be more on a new car.

I would put a few grand of that money into a safe in your apartment in case you need it to repair or buy a new car or something suddenly, though.

If you really want a new car you can sell your car for more than $3,000 (private party). I would then just buy a decent used car. I bought a totalled 2007 Forester Premium, fixed it, inspected, etc. for about $5,500. 60K miles and minty.

PS Before I bought the Forester, I was driving a modified 1993 3000GT VR4 with 180K miles on it as a daily driver. Drive it through the snow in the winter and beat the **** out of it in the summer. I finally got tired of worrying about it and got the Forester for a daily, but I never really had a problem with the VR4.

PSS My tuition is over $50,000/year. I hate you.

Oh man, I used to have a 1991 3000GT back in the day (only around 100k miles). I don't think that car went longer than 2 or 3 weeks without something failing or falling apart.

 

[GangaMaster]

Keep the car it has another decade in it and thats coming from a person that hates Hondas.

 

[Kahreek]

I was like what when I read you have got a car already. That civic is good to at least 200k if you treat it good.

 

[HLxDrummer]

Oh man, I used to have a 1991 3000GT back in the day (only around 100k miles). I don't think that car went longer than 2 or 3 weeks without something failing or falling apart.

If you get a clean one and don't modify it they aren't any worse than any other 90's car. Just make sure the oil pan isn't dented and you do the timing belt and your golden. My modifications were catching up with me so it became a pain tinkering with it constantly. I have two friends that have two twin turbos each. One to daily and one for a project car. That is dedication haha

 

[evilbooyaa]

It's an old Honda. If you keep up with regular maintenance and don't drive like an a-hole it should last you through med school. I'm still rockin a '00 Accord that's pushing close to 160k miles. Sure, it pulls a little to the right at all times, but it's solid besides that. I'm planning on getting a new car for residency however, since I'm assuming something or the other is going to happen to the Accord at some point.

 

[blizzah]

Take the money from your Accord and get a 2-3 year old Audi/Bimmer

Or roll in the Civic. Buy a nice spoiler tho

 

[evilbooyaa]

The thread title should be 'worth buying a NEW car before starting medical school'.

I believe that medical school is better off with a car (starting from MS1) unless the public transport in your city is very good, or unless you want to constantly be bumming rides off your friends.

 

[Psai]

Honestly I think that a new car is worth the lack of headaches that a used car might give you. It's very inconvenient if it breaks down, especially if you have a test or something that day. Less debt is good and your car right now will probably last a while but why chance it?

 

[Stellar Clouds]

Take the money from your Accord and get a 2-3 year old...Bimmer

Don't do that. You''ll regret the maintenance costs--those ************* are expensive to maintain. Save that **** for when you are an attending.

 

[WhippleWhileWeWork]

Over the course of 2 years, I decided to go through regular maintenance and spent $1,500 of my income. Now the tires are new, battery is new, break pad is new, rotors are new, break fluid, transmission fluid are recently replaced. and I use Mobil 1 synthetic engine oil during oil change. Nevertheless, selling this car would only give me aroud $3,000.

But knowing that med school is roughly 7 to 10 years long, and I am thinking about getting a car that doesn't worry me for next 10 years. Should I take this offer from my dad or ask him to lower my debt?

I would ask if you could take the money and then spend up to 5k maintaining your Civic through med school and residency. At some point if it breaks catastrophically (unlikely), you still have 25K+ to get something newer. If not, you have 25k to get something new during/after residency when you need more room (kids?) or just to replace your civic that you've maximized the value of.

 

[WhippleWhileWeWork]

Don't do that. You''ll regret the maintenance costs--those ************* are expensive to maintain. Save that **** for when you are an attending.

Truth. Even if you do your own maintenance, sturdy German parts are not cheap.

 

[mulberry]

German engineering >

Take the money from your Accord and get a 2-3 year old Audi/Bimmer

Or roll in the Civic. Buy a nice spoiler tho

I was gonna say german engineering >>>>>

Even if you have to go with something like VW Jetta.

 

[WhippleWhileWeWork]

German engineering >


I was gonna say german engineering >>>>>

Even if you have to go with something like VW Jetta.

Contrary to popular belief at one time, not all Germans are created equal.

 

[Porfirio]

I am a spoiled child and my dad is willing to buy me a new honda accord for getting into a medical school. This may sound like a typical story of a rich child, but I am not rich and my parents are not going to provide any support on tuition and living cost. Therefore, I am debating on whether to get a new car or ask my dad to spend that money to lower my debt though the cost of honda accord would barely cover one year long tuition at my state university's medical school.

However, I have been driving my 2002 honda civic since my high school and it has been okay. It has 110,000 miles on it and has taken me to everywhere.

Over the course of 2 years, I decided to go through regular maintenance and spent $1,500 of my income. Now the tires are new, battery is new, break pad is new, rotors are new, break fluid, transmission fluid are recently replaced. and I use Mobil 1 synthetic engine oil during oil change. Nevertheless, selling this car would only give me aroud $3,000.

But knowing that med school is roughly 7 to 10 years long, and I am thinking about getting a car that doesn't worry me for next 10 years. Should I take this offer from my dad or ask him to lower my debt?

I would not have him help lower your debt. I would ask him to give you cash, and let it sit in the bank for when you are a 4th year flying across the country looking for a job then moving across country for that job.

 

[blizzah]

Don't do that. You''ll regret the maintenance costs--those ************* are expensive to maintain. Save that **** for when you are an attending.

No reason to delay gratification. You are going to be an attending 8 years from now. That's too long to wait (for me anyways).

BMW has free maintenance up to 4 years, you can buy an extra 2 years for not too much. That's enough to get you through to residency.

Either way as a person without a family, there is no reason to buy a car as big as an Accord.

 

[Beth_W737]

I'm entering residency in June, still driving a 1996 Subaru with 110,000 miles. Save on tuition instead.

 

[Stellar Clouds]

No reason to delay gratification. You are going to be an attending 8 years from now. That's too long to wait (for me anyways).

BMW has free maintenance up to 4 years, you can buy an extra 2 years for not too much. That's enough to get you through to residency.

Either way as a person without a family, there is no reason to buy a car as big as an Accord.

No reason to delay your gratification unless you want to continue climbing into that debt-hole you have accumulated. Extending that warranty another 2 years is a nice 2.5-4K--not exactly pocket change. Plus their warranties don't cover tires. You know what's great about ultimate driving machines? The front and rear tires (on most models) aren't the same dimensions, which means you cannot rotate the tires, which translates into significantly reduced tire life. In addition, BMWs no longer have spares, they have glorious run flats. Run flats are good for three things: 1.) you can drive on them when you get a flat 2.) they usually cannot be repaired when you get a flat (esp if you drive on them) and 3.) they are more expensive than non-RFs. A new set of four tires is going to run you about 2k and you'll have to get them more frequently. Furthermore, if you aren't going to be an attending for 8 years, that extended warranty isn't going to last you until you start making an attending salary. Have fun those last 2 years.

 

[blizzah]

No reason to delay your gratification unless you want to continue climbing into that debt-hole you have accumulated. Extending that warranty another 2 years is a nice 2.5-4K--not exactly pocket change. Plus their warranties don't cover tires. You know what's great about ultimate driving machines? The front and rear tires (on most models) aren't the same dimensions, which means you cannot rotate the tires, which translates into significantly reduced tire life. In addition, BMWs no longer have spares, they have glorious run flats. Run flats are good for three things: 1.) you can drive on them when you get a flat 2.) they usually cannot be repaired when you get a flat (esp if you drive on them) and 3.) they are more expensive than non-RFs. A new set of four tires is going to run you about 2k and you'll have to get them more frequently. Furthermore, if you aren't going to be an attending for 8 years, that extended warranty isn't going to last you until you start making an attending salary. Have fun those last 2 years.

Different value system.
Still worth it to me

 

[Mad Jack]

Go with the new car. You don't want your vehicle to be breaking down and causing you to miss a rotation. Sure, a Civic can get 200k+ miles, but the problem is it might very well break down at unexpected times, causing you to miss god knows what (exams, rotations, interviews). Take it from a guy that had a lot of used cars that he took good care of while commuting through undergrad and to and from work- sure, you won't have a problem 99 days out of 100, but when that one day hits, it could very well be at the worst time.

 

[circulus vitios]

Buy a new car, and don't buy Japanese. Domestics or Korean cars are the new kings of economy cars.

 

[HatWobble]

Holding out for photos of OP's new ride...

 

[WhippleWhileWeWork]

Go with the new car. You don't want your vehicle to be breaking down and causing you to miss a rotation. Sure, a Civic can get 200k+ miles, but the problem is it might very well break down at unexpected times, causing you to miss god knows what (exams, rotations, interviews). Take it from a guy that had a lot of used cars that he took good care of while commuting through undergrad and to and from work- sure, you won't have a problem 99 days out of 100, but when that one day hits, it could very well be at the worst time.

Hang on, how did you have "a lot of used cars" and you "took good care" of them in the span of 4-5 years??????

Something is amiss.

 

[WhippleWhileWeWork]

I have 188K on my 1996 Bimmer. I planning on driving it through 4 years of medical school and hopefully far into residency. Maintenance is everything. Most catastrophic failures can be predicted and prevented if you know what to look for or at least know a mechanic who does.

 

[Mad Jack]

Hang on, how did you have "a lot of used cars" and you "took good care" of them in the span of 4-5 years??????

Something is amiss.

I'm 29 years old and a nontraditional that switched majors a couple times. I owned a 57 ford flatbed, 85 mercury marquis, 92 mercury cougar, 2001 camry solara, and a 2008 toyota corolla between the time I was 16 and now. Bought a new Hyundai two years ago because I was tired of the once or twice a year my used car would need to go to the shop. Haven't been to the mechanic for anything but scheduled maintenance since, hoping that trend holds through residency.

 

[WhippleWhileWeWork]

I'm 29 years old and a nontraditional that switched majors a couple times. I owned a 57 ford flatbed, 85 mercury marquis, 92 mercury cougar, 2001 camry solara, and a 2008 toyota corolla between the time I was 16 and now. Bought a new Hyundai two years ago because I was tired of the once or twice a year my used car would need to go to the shop. Haven't been to the mechanic for anything but scheduled maintenance since, hoping that trend holds through residency.

I knew there was something I liked about you.

 

[Psai]

I'm 29 years old and a nontraditional that switched majors a couple times. I owned a 57 ford flatbed, 85 mercury marquis, 92 mercury cougar, 2001 camry solara, and a 2008 toyota corolla between the time I was 16 and now. Bought a new Hyundai two years ago because I was tired of the once or twice a year my used car would need to go to the shop. Haven't been to the mechanic for anything but scheduled maintenance since, hoping that trend holds through residency.

lol a 57 ford flatbed? Probably handcrafted by Henry Ford himself.

 

[Mad Jack]

lol a 57 ford flatbed? Probably handcrafted by Henry Ford himself.

Had the engine replaced with a 79' Mustang Windsor 302 engine, added dual exhaust. The things you do for fun in a boondocks town when you're 16 lol. It was a total death trap.

 

[Bojack Horseman]

I would get the new car. I've had car trouble in med school and it is definitely a PITA. Your time is precious in medical school and potentially having to shop around for a used car (or even constantly getting your car repaired) can be very time consuming.

 

[Mad Jack]

No reason to delay gratification. You are going to be an attending 8 years from now. That's too long to wait (for me anyways).

BMW has free maintenance up to 4 years, you can buy an extra 2 years for not too much. That's enough to get you through to residency.

Either way as a person without a family, there is no reason to buy a car as big as an Accord.

Contrary to popular belief, not every prospective physician wants to drive luxury cars that have terrible reliability ratings and are incredibly expensive to fix. I'd go with a Lexus or Acura myself, but then again, luxury cars are a foolish purchase so I would probably never buy one personally.

 

[HLxDrummer]

Just wanted to chime in on size - I have a fiancee and a dog (but plan to have kids in the future). I bought a Forester for an everyday car and while I may be sacrificing some money on more gas/more expensive tires/etc. I think that minimal increase is worth it. No problems in snow (will make getting to rotations easy in the winter), roof rack/tons of cargo space/towing capability (will make moving in the future easier and will allow me to tow a jet ski if we get one), heated seats and climate control (will make be feel better when I am leaving the hospital at 2AM when it is 0*F), four cylinder (easy to work on and easy on gas), 5 speed (fun to drive and better on gas), high crash test ratings (important when I will have my future family in the car), decent ground clearance (allows me to go camping/not worry about bottoming out on ****ty roads), cushy suspension, etc. Even little things like defrosters on the bottom of the windshield to de-ice your wipers make things easier and more comfortable.

I can't think of a better car for me right now. Would be nice to get 40MPH highway but I can deal with 25 overall right now in exchange for everything I listed above.

 

[WhippleWhileWeWork]

Just wanted to chime in on size - I have a fiancee and a dog (but plan to have kids in the future). I bought a Forester for an everyday car and while I may be sacrificing some money on more gas/more expensive tires/etc. I think that minimal increase is worth it. No problems in snow (will make getting to rotations easy in the winter), roof rack/tons of cargo space/towing capability (will make moving in the future easier and will allow me to tow a jet ski if we get one), heated seats and climate control (will make be feel better when I am leaving the hospital at 2AM when it is 0*F), four cylinder (easy to work on and easy on gas), 5 speed (fun to drive and better on gas), high crash test ratings (important when I will have my future family in the car), decent ground clearance (allows me to go camping/not worry about bottoming out on ****** roads), cushy suspension, etc. Even little things like defrosters on the bottom of the windshield to de-ice your wipers make things easier and more comfortable.

I can't think of a better car for me right now. Would be nice to get 40MPH highway but I can deal with 25 overall right now in exchange for everything I listed above.

You lost me at concerns about "money on gas/tires" but maybe buying a jet ski.

 

[Brain Bucket]

a valid message.

 

[HLxDrummer]

You lost me at concerns about "money on gas/tires" but maybe buying a jet ski.

Gotta have fun sometime! I actually have another car I race during the summer so it isn't all about saving money - just don't want to waste it on things like gas/tires on a daily driver when it doesn't lead to a big bank account or a smile on my face. So basically Brain Bucket summed it up nicely

 

[Optimus-Prime]

just sold my '00 Rav4 with 195k it needed too much maintenance, just didn't want to dump money into a car with little value. Gotta say of all my cars the Japs are the way to go, had '88 honda prelude, '95 Saab Scania (nightmare), '01 cherokee, '01 PT Crusier (another nightmare, 5 years old w/16k miles for $9k), '95 diesel benz, '00 Rav4, and now '07 TL.

Just helped the gma scoop up a '10 civic with 30k miles for $10k, you could do something similar and keep 12k in your savings.

 

[Optimus-Prime]

You could always lease for a temporary fix, or finance something as well

The rents are leasing a new Jetta for $200ish a month i believe w/ no down payment, 10k miles/year limit though