Just Thinking

[Columbia22]

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Would anyone take out loan money in order to buy a car for med school?

 

[jlee9531]

do you need one?

 

[Columbia22]

dont most students?? unless your'e in a city like NY or DC, and live relatively close to campus?

 

[cornell2004]

some schools give low interest loans through the financial aid office for things such as a car

 

[jlee9531]

i dont know if most students need one...

just as long as you have a friend or roommate that has one i guess you dont really have to worry about living away from campus. i would think that it would be similar to living off campus during undergrad.

but then i could be wrong since i dont know the living situation for most of the med schools out there.

 

[mosoriire]

I'm in the same situation. I think not having a car really hurt me in undergrad, especially since I lived in a city w/o good transport, and I didnt have any family around for miles and miles. I'd say get it: how do you move your stuff if your landlord serves notice that the building is about to be closed down? What if you found a fabulous opportunity that involves a lot fo moving around over the summer or something? Plus I really hate being at the mercy of everyone else for groceries and all that. Remember that everyone else is going to be busy, and every extra minute will count for them when we're all in med school.
The other thing I can say is bust your butt working and saving over the summer, and see if you can scrape together about 7 - 8 K or so...You should be able to get a decent buy.

 

[Columbia22]

i was thinking more along the lines of a 2004 corvette c5...i mean, it is loan money isnt it??

 

[SarahGM]

Originally posted by Columbia22
dont most students?? unless your'e in a city like NY or DC, and live relatively close to campus?

I was told at UNC that you can't use loans to pay off cars....

 

[Bad Mojo]

Originally posted by Columbia22
i was thinking more along the lines of a 2004 corvette c5...i mean, it is loan money isnt it??

I like the way you think Columbia. If your gonna go into debt anyway, might as well make it worth it. You'll have a better ride than me and my Corolla.

 

[dara678]

Originally posted by Columbia22
i was thinking more along the lines of a 2004 corvette c5...i mean, it is loan money isnt it??

lol! i want a baby blue lexus ... but i'll probably end up getting a corolla hehehe ...

 

[mosoriire]

I'm speechless.

 

[jlee9531]

Originally posted by Columbia22
i was thinking more along the lines of a 2004 corvette c5...i mean, it is loan money isnt it??

haha...damn and this whole time i was thinking the car was more for practical purposes.

its your money man.

 

[Columbia22]

well, the way i look at it is...whats another 40-50K on top of the 200K im already gonna owe...i mean, may as well enjoy the car if you're going down that huge

 

[ewing]

I have a very similar question:

I've never had a car (or driven, for that matter) but it looks like I'm leaving my undergrad in a big city with good public transport for a med school where I'll need a car.

Realistically, if I buy a small, cheap car -- say a used Corolla for 8k, how much should I expect to pay for insurance, maintanance, etc. per year?

 

[woolie]

I think I am going to have to get a car this summer too. I lived in a big city with excellent transportation for a long time and now I live in a small city with a pretty limited transit system. It's ok in some basic ways but I feel like a real dork standing on the side of the road waiting for a bus in 18 degree weather. Plus, everyone here has a car so it sort of seems like I am 'out of the loop' when I am walking all over town or whatever.

A car is looking really good right now! I know we shouldn't submit to peer pressure but it is no fun having to schedule your life around bus routes or the kindness of your friends. Even a cheap 3rd hand car is a good place to start.

 

[meanderson]

Originally posted by ewing
I have a very similar question:

I've never had a car (or driven, for that matter) but it looks like I'm leaving my undergrad in a big city with good public transport for a med school where I'll need a car.

Realistically, if I buy a small, cheap car -- say a used Corolla for 8k, how much should I expect to pay for insurance, maintanance, etc. per year?

It all depends on what area of the country your med school is in(even down to the zip code). Are you going to get just liability for the corrola, or full coverage? What sort of deductible? There are so many variables.

I'd say that full coverage with a $500 deductible on a 2001 Toyotta Corrolla in an average zip code would be about $1300/year for someone age 20-24 who is just getting a liscence and has no driving record. Add a good bit for more expensive car insurance areas....take away some for low-cost car insurance areas. But when it comes to car insurance, shopping around is the key. You might get some really crazy quotes($1300/6 months). Just keep looking.

Hard to tell on maintenance. So much of that is luck.