Advice on buying a car for Med School

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Bernoull

Bernoull

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I'm torn b/t my "old faithful" and gettin a newer car. I just want reliable transportation to/fro school and around town, so my two option have their pros and cons.

Option1: Keep Old Car (hold onto ur seats for the specs...:D:D):

PROS:
- Paid for and low ownership costs (Ins, gas, maintenance) ~$120/mo..
- It's been quite reliable thus far

CONS:
- 12yr old Camry, I've had it for the last 6 yrs.
- 265K miles, but very well maintained

To keep it, I'm thinkin about doing preemptive repairs (timing belts, water pump, oil seals, CV joints etc) and I can do all this repair for <$700. After this I suspect to get maybe >50K from the car.

Also, I'll be moving halfway across the US for med school so I'm thinking about stress-testing it, drive it the distance and if it survives then I know my product's still good and if not, I'll ditch it along the way and go for option 2.

Option2: Buy newer Car

I can spend about $10K for a newer car (<5yrs), I'll buy it cash bcos I don't want to finance anything (beside tuition) in med school.

PROS:
- More reliable, newer car.
- Easier on the eye, i guess. Can't think of any other positives.

CONS:
- Less savings to enter med school with => more loans to take out
- Likely higher insurance premiums.

What do u guys/gals suggest?
Thx...
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265k mile should it even be alive?

You *might* need a car for your 3rd/4th clinical years, but definitely not 1st/2nd years.
 
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From what I hear about medical school, you'll be too busy studying to drive anywhere. I'd stick with the old car and save the money.
 
Morsetlis said:
265k mile should it even be alive?

You *might* need a car for your 3rd/4th clinical years, but definitely not 1st/2nd years.
Click to expand...

The car is like an immortalized cell line, it simply won't die!! I can see it reaching 350K and part of me wants to see how far it'll go. BTW, the motor and transmission are all original.

I will likely live off-campus even for the first 2 yrs, so I'll have a commute, also I like having the flexibility to go to IHOP or drive around at 3am, so I'll need a car. thanks for the input
 
I have to assume that since you can get the work done you want for less than $700 that you are either doing the work yourself or know someone. Toyota and Honda have a great reputation (mostly :oops:) for lasting a LONG time. If you have been caring for it and the car is in good shape (ie. the motor mounts aren't rusting through and you can't see the road through the floorboard) then you should be good to go.

I don't know how auto-inclined you are, but if you keep taking care of it you have nothing to fear. In fact, I would say that with a newer car you would be taking an even bigger potential risk in not knowing what you are "in for" as well as paying way more $$$ than you currently do.

Run your current car into the ground if you have to, but avoid getting anything newer until you absolutely must.

:luck:

Oh, and a well-maintained Toyota engine *can* last 500,000+ with no problem.
 
Bernoull said:
The car is like an immortalized cell line, it simply won't die!! I can see it reaching 350K and part of me wants to see how far it'll go. BTW, the motor and transmission are all original.

I will likely live off-campus even for the first 2 yrs, so I'll have a commute, also I like having the flexibility to go to IHOP or drive around at 3am, so I'll need a car. thanks for the input
Click to expand...


The other part of you will be mad if it dies inconveniently. Very mad indeed...

That being said, I would keep the car for now to minimize your loans.
 
My advice would depend on where you are headed to medical school. Are you headed to the Northeast or Upstate NY or the midwest. If the answer is yes, I would get rid of your car now, and invest in a Honda CRV or similar for 10k. This would last you through med school and residency.

Otherwise, just keep your car. No reason to get rid of the car.


Bernoull said:
I'm torn b/t my "old faithful" and gettin a newer car. I just want reliable transportation to/fro school and around town, so my two option have their pros and cons.

Option1: Keep Old Car (hold onto ur seats for the specs...:D:D):

PROS:
- Paid for and low ownership costs (Ins, gas, maintenance) ~$120/mo..
- It's been quite reliable thus far

CONS:
- 12yr old Camry, I've had it for the last 6 yrs.
- 265K miles, but very well maintained

To keep it, I'm thinkin about doing preemptive repairs (timing belts, water pump, oil seals, CV joints etc) and I can do all this repair for <$700. After this I suspect to get maybe >50K from the car.

Also, I'll be moving halfway across the US for med school so I'm thinking about stress-testing it, drive it the distance and if it survives then I know my product's still good and if not, I'll ditch it along the way and go for option 2.

Option2: Buy newer Car

I can spend about $10K for a newer car (<5yrs), I'll buy it cash bcos I don't want to finance anything (beside tuition) in med school.

PROS:
- More reliable, newer car.
- Easier on the eye, i guess. Can't think of any other positives.

CONS:
- Less savings to enter med school with => more loans to take out
- Likely higher insurance premiums.

What do u guys/gals suggest?
Thx...
Click to expand...
 
Thanks guys, so the verdict is keep it until it dies :laugh:.

If its ever needs major/expensive repairs then it's clearly time to ditch. The preventative repairs that I elect to do now to prolong its life are reasonably priced, and I'll have to spend ten times that amount to get a newer,
=/> reliable car...

I'll renew my AAA membership (in case I need towing) and I'll keep u guys updated on this summer's roadtrip..:D:D
 
Ride it into the ground, pick out something new after. Just don't invest too much money in keeping it alive (new transmission would probably be too much)
 
bamtuba said:
I have to assume that since you can get the work done you want for less than $700 that you are either doing the work yourself or know someone. Toyota and Honda have a great reputation (mostly :oops:) for lasting a LONG time. If you have been caring for it and the car is in good shape (ie. the motor mounts aren't rusting through and you can't see the road through the floorboard) then you should be good to go.

I don't know how auto-inclined you are, but if you keep taking care of it you have nothing to fear. In fact, I would say that with a newer car you would be taking an even bigger potential risk in not knowing what you are "in for" as well as paying way more $$$ than you currently do.

Run your current car into the ground if you have to, but avoid getting anything newer until you absolutely must.

:luck:

Oh, and a well-maintained Toyota engine *can* last 500,000+ with no problem.
Click to expand...


Great post!! U're right, Japanese cars are generally well-built. I'm somewhat auto/technically inclined and I do basic stuff on my car like change the oil, rotate tires (foolproof stuff..:D).

I've shopped around for repair costs and surprisingly, they are very low. Also a good friend owns a mechanic shop so I can affordably do these repairs. U're very right about a newer car being an unknown entity (for good or bad), so I guess it's better to stick to the devil you know..:laugh::laugh:

I'll also get a general inspection (from a mechanic) just to make sure I don't overlook impending issues..

Are u auto-inclined too? Thanks for the input
 
mspeedwagon said:
My advice would depend on where you are headed to medical school. Are you headed to the Northeast or Upstate NY or the midwest. If the answer is yes, I would get rid of your car now, and invest in a Honda CRV or similar for 10k. This would last you through med school and residency.

Otherwise, just keep your car. No reason to get rid of the car.
Click to expand...

I'm headed to either Upstate NY or Midwest, I'm not decided yet. So wat's ur reasoning for ditching it for a CRV? Weather perhaps?
 
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Weird for me to be on this side, because I'm usually all about saving money, but I think you should get a newer car now because if not you might have to buy one during residency...with less money at your disposal. You'll probably have to take out a loan then, because the 10k you have in savings now will probably be gone by the time you're done with med school. ALSO, you might want the newer car to go interviewing with in your 4th year.

In theory:

1. Keep car #1 ----> 4 years later, buy car #2 at the start of residency ---> ~4 years after that, dump car #2 for bright, shiny car #3?

2. Dump car #1, buy car #2 ---> ~8 years later, buy bright, shiny car #3

That assumes you'll want a new car when you're an attending, and maybe you won't.
 
morning said:
Weird for me to be on this side, because I'm usually all about saving money, but I think you should get a newer car now because if not you might have to buy one during residency...with less money at your disposal. You'll probably have to take out a loan then, because the 10k you have in savings now will probably be gone by the time you're done with med school. ALSO, you might want the newer car to go interviewing with in your 4th year.

In theory:

1. Keep car #1 ----> 4 years later, buy car #2 at the start of residency ---> ~4 years after that, dump car #2 for bright, shiny car #3?

2. Dump car #1, buy car #2 ---> ~8 years later, buy bright, shiny car #3

That assumes you'll want a new car when you're an attending, and maybe you won't.
Click to expand...

Good points.

Along the same lines, during residency, at least there's the prospect of income I'll guess $50-55K (in four yrs). If I have to upgrade then, at least it makes more financial sense since I'll have some income stream, as opposed to the "hard-knock life" of med school....
 
Keep the old one as long as you can.

It seems that most people have to replace their vehicle once between beginning medical school and completing residency (after which the cost is much less of a burden). I recommend postponing that purchase as long as possible, so you don't risk having to do it twice.
 
bamtuba said:
Oh, and a well-maintained Toyota engine *can* last 500,000+ with no problem.
Click to expand...

yes, I've heard Toyota has these new models nowadays where no matter what you do, the car just won't stop running .... :boom:

In any case, I'd just hold on to it until it goes. Especially if you're going to live in a city, the car will get destroyed anyway.
 
plauto said:
yes, I've heard Toyota has these new models nowadays where no matter what you do, the car just won't stop running .... :boom:

In any case, I'd just hold on to it until it goes. Especially if you're going to live in a city, the car will get destroyed anyway.
Click to expand...

:smuggrin:
 
plauto said:
yes, I've heard Toyota has these new models nowadays where no matter what you do, the car just won't stop running .... :boom:

In any case, I'd just hold on to it until it goes. Especially if you're going to live in a city, the car will get destroyed anyway.
Click to expand...

It's ironic how Toyota came to this point, I took a quality management course where we learned about the Toyota Production System which pioneered "lean manufacturng," "just in time production" and emphasized continuous improvements etc but their relentess quest for marketshare definitely sacrificed core principles like quality.

Also the company seems tone deaf, besides their flatfooted response, the fact that their ads still have "Moving Forward" despite the braking issues is just beyond me...:confused::confused:
 
Bernoull said:
Also the company seems tone deaf, besides their flatfooted response, the fact that their ads still have "Moving Forward" despite the braking issues is just beyond me...:confused::confused:
Click to expand...

yeah, they're really keeping the jokers busy.

movingforward.png


Qc6Kx.png


500x_toyota_corolla_zombie_s.jpg
 
Wow...you never know when an everyday thread on SDN is going to turn hilarious.
 
My 17-year-old Corolla is on 200K miles and (knock on wood) going strong without any major maintenance issues. The car I had before it was an 8-year-old Malibu and it had to have the transmission replaced TWICE. My point is, if you've got a good car that you know is not a lemon, KEEP IT. Even cars that should hypothetically be in better condition (age-wise, anyways...not necessarily with regards to the automaker :)) may be worthless. Plus, how cool will it be if it makes it to 300K+ ?
 
I was actually thinking about this car issue too. I'll be moving to the east coast most likely (from the west), and I want to take my car with me. The car is technically my parents', I believe it is paid off, but they have no use for it and I've been driving it since I learned how to drive. My dad is trying to convince me to lease or buy a new used car over there but I'm thinking of just driving mine over to reduce cost... I don't want to get a new car b/c it would come solely out of loans.
 
Dude...I have no business purchasing a new vehicle, but ever since the new VW GTI came out I have been salivating. Maybe it is cuz I am older and want to feel like a kid again. I'll probably end up getting the 2-door and tacking it on to my already growing debt load. :cool: I just keep telling myself it is a sensible ride. Right?


D1_2010_VW_GTI.jpg
 
Bernoull said:
The car is like an immortalized cell line, it simply won't die!! I can see it reaching 350K and part of me wants to see how far it'll go. BTW, the motor and transmission are all original.

I will likely live off-campus even for the first 2 yrs, so I'll have a commute, also I like having the flexibility to go to IHOP or drive around at 3am, so I'll need a car. thanks for the input
Click to expand...

Dude, I don't even have a car. I would kill for your Toyota. I say keep it, it seems like there's really no reason to get a new car. There are better things to spend that money on, IMO.
 
I say drive the camry till the wheels fall off. You can get a lot out of that car, especially if you go to synthetic oil or a specialty high mileage oil. Also, I would for sure add changing spark plugs to your proposed repairs if you haven't done it recently.

Other repairs that are necessary:

Larger rims, preferably chrome.
Body kit, preferably obnoxious.
Lamborghini vertical door kit
Extremely large subwoofers.
Intercooler for turbo, without actually installing a turbo.

untitled.bmp


This is what your car should look like during medical school.
 
Bernoull said:
Are u auto-inclined too? Thanks for the input
Click to expand...

I've rebuilt an engine in my time, and replaced just about everything (sans transmission) at least once on nearly every major make of car.

Having lived in the South and Western NY I can tell you now that the cars that make it to that 500,000+ level are usually NOT found in the North. You will watch whatever you bring up here die a very slow (hopefully) and painful death at the hands of the salt-encrusted roads.

In light of the fact that you are about to move to the rust belt, I would argue that you have even MORE reason to keep your old car. If it can last through school it will save whatever newer ride you get later from years of rusting and wear.

Wait till you move back to a more car friendly area and then go nuts.

:luck:
 
donk.jpg
 
Definitely worth investing in four wheel drive. Since my gf goes to SUNY upstate, I can tell you even though she has an ancient jeep, it's great to have four wheel drive there. The weather sucks most of the time and it is very helpful. And yes, weather is why I would ditch your car for a CRV.

Bernoull said:
I'm headed to either Upstate NY or Midwest, I'm not decided yet. So wat's ur reasoning for ditching it for a CRV? Weather perhaps?
Click to expand...
 
I was just in your position.

I just got rid of a 16 year old Toyota with like 225K on it. I'd had it since I was 17 and it was turning into a deathtrap.

It's so weird to be driving a new car but at least I am less likely to feel as if I am about to die on the road. LOL! It should make it through medical school and most (if not all) of residency. I'll buy another new car as an attending. After all, I will have deserved it.
 
mspeedwagon said:
Definitely worth investing in four wheel drive. Since my gf goes to SUNY upstate, I can tell you even though she has an ancient jeep, it's great to have four wheel drive there. The weather sucks most of the time and it is very helpful. And yes, weather is why I would ditch your car for a CRV.
Click to expand...

It's funny everytime you mentioned CRV, my mind read CRX... and I could never figure out the logic behind a CRX recommendation..lol

I kept picturing my lanky legs developing deep vein thrombosis inside the crampy leg compartment..

Anyway u're very right about Upstate, it's easily the hilliest place I've ever been so a 4WD would make a lot of sense. Honestly I'm not into SUVs, I mean I can't afford the few that I like (G55 AMG & Range Sport) :smuggrin::smuggrin:.

Also I'll be heading to the midwest rather than Upstate, I guess I'll run the ol' faithful into the ground b4 upgrading...
 
familyaerospace said:
I was just in your position.

I just got rid of a 16 year old Toyota with like 225K on it. I'd had it since I was 17 and it was turning into a deathtrap.

It's so weird to be driving a new car but at least I am less likely to feel as if I am about to die on the road. LOL! It should make it through medical school and most (if not all) of residency. I'll buy another new car as an attending. After all, I will have deserved it.
Click to expand...

So what ride did you get?
 
I went from a black 1994 Toyota Corolla to a very light blue 2010 Hyundai Accent.

I felt like I was in a Jeff Dunham routine when I was given it.
 
BTW, are you moving to a snowbelt place? If so, maybe you need to consider buying a 4 wheel drive. You don't wanna get stuck in the snow...
 
mspeedwagon said:
Definitely worth investing in four wheel drive. Since my gf goes to SUNY upstate, I can tell you even though she has an ancient jeep, it's great to have four wheel drive there. The weather sucks most of the time and it is very helpful. And yes, weather is why I would ditch your car for a CRV.
Click to expand...
Unless he's going off-roading, 4WD is overrated. I've never gotten my car stuck in 5 years of driving in the snow (although I didn't try my luck when we had an 18" snowfall), and I've been parking it on the streets for the past two years.

All you need are good tires and skill. When I was out in Colorado on the freeways, all the people in the ditch were SUVs with 4WD and ABS. The drivers were overconfident and exceeded their abilities.
 
A lot of cars (Lexus, Volvo, Infiniti) have a special winter driving feature.

Honestly though, just keep it slow in the turns and never hit the brake or acceleration hard and you'll be fine in the snow with a FWD.

I would not have recommended Hyundai though. If you go to an auto mechanic or a place where they work on cars (i.e. body shop, tune shop) they will tell you that Korean cars don't last long at all. Actually, the mechanic I used to go to told me that Kia and Hyundai were "garbage" and the car he recommended to me is the car my mother purchased and she loves her car and it has lasted pretty long without issues.
 
If you go with option 1 you still option 2 open.

Option 2 forever eliminates Option 1.

I say go with option 1 until it fails.
 
I'd say keep it. The snow will destroy any new car anyways so I'd use the one you have until it dies.

I drive a '99 Camry and it's perfect. I still can't believe it still runs. The A/C is cold (my mom says it runs colder than her BMW) and it's a smooth ride. Every time I take it in for an oil change one of the Toyota mechanics always tries to buy it off of us. haha

My grandfather still drives a '92 camry.

Older toyota models have been pretty long-lasting.
 
I have zero experience with winter driving...zilch, nada!! I thought people were recommending 4WD bcos of hilly terrain...:laugh::laugh::laugh:, so getting stuck in snow is going to be a consideration. I grew up in Africa so I have tons of experience with navigating muddy puddles and getting stuck in them at time..:smuggrin::smuggrin:

At this point Option 1 wins, do the repairs this summer ride it out, For the snow/corrosion, I got a price quote for a paintjob $700-$1200 (from low quality to base coat/clear cost). So for <$2K i should have a "Dr. 90201ed"/rejuvenated camry and if it breaks shortly after, then I'll sue the mechanics...:laugh:
 
I wanted another Toyota which is what I was shopping for. (I wanted a Yaris).

The Hyundai was given to me.
 
Bernoull said:
I have zero experience with winter driving...zilch, nada!! I thought people were recommending 4WD bcos of hilly terrain...:laugh::laugh::laugh:, so getting stuck in snow is going to be a consideration. I grew up in Africa so I have tons of experience with navigating muddy puddles and getting stuck in them at time..:smuggrin::smuggrin:

At this point Option 1 wins, do the repairs this summer ride it out, For the snow/corrosion, I got a price quote for a paintjob $700-$1200 (from low quality to base coat/clear cost). So for <$2K i should have a "Dr. 90201ed"/rejuvenated camry and if it breaks shortly after, then I'll sue the mechanics...:laugh:
Click to expand...

I had zero experience driving in the snow and that first time I had to was in someone's camry (no 4wd) and I did just fine. It was also in a super rural area with rare plowing so if you're in a populated area the snow will be plowed pretty frequently.
 
familyaerospace said:
I wanted another Toyota which is what I was shopping for. (I wanted a Yaris).

The Hyundai was given to me.
Click to expand...

And one never looks at the teeth of a gifted horse...

But I think the Hyundai quality issues was a '90s thing. I think they have been making good products for a while, besides don't they have the 10^5 mile warranty... I'll love to see the exclusions/limitations on that though, just sounds so out there, even the Germans are about 50K warranty...
 
Let's see, there is a 65K mile which covers anything you could ever imagine and they do all the various maintenance stuff. Then they have another which is a more limited but covers up to 100K miles. Each also has some amount of years, but I don’t have that info in front of me. So I shouldn't have many worries for a couple of years at least.
 
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