-
Practice your interview with the new SDN AI Interview Coach. Choose a school, answer by voice or typing, and receive a personalized feedback report. Available now to all SDN members. Try the AI Interview Coach.
New car!
Started by StormingWynn
There might be alot of disagreement on this, but IMO I would definitely use student loans to pay off a car simply because the amount of interest you will pay back on a student loan will be WAY less than the amount of interest you will pay back to a bank (you'll save thousands of $$). I plan on maximizing my student loans and paying off all my debt so that I'll have nothing but student loans left after I graduate.
Advertisement - Members don't see this ad
actually, this is a good idea as long as you are not over doing it....some folks forget they have to pay it back!!
What's a f458?
might i recommend a car not made in america =3
that way it'll last longer then 5 years lol
that way it'll last longer then 5 years lol
I will probably have to get a "new" used car soon but never buy branded new and remember cars are one of the worst investments to make...👍
But, they are a necessity.....however, you dont need a bimmer or benz to get there!!
But, they are a necessity.....however, you dont need a bimmer or benz to get there!!
wait til u know what med school
...
Last edited:
Hey thanks guys, I thought I was making a bad decision. Yeah I was thinking that if I paid it off with students loans, the actual amount I'd have to pay back would be way less than if I used a non student loan.
Oh and BTW I have an 8 year old American car which I completely trash. LOL it's still going strong, but I know it wont last me another 12 years so I wanted to buy a new car that would. I was thinking of a Cobalt SS which costs $22,000 and gets like 36MPG and is FAST and SPORTY! What do you guys think?
Oh and BTW I have an 8 year old American car which I completely trash. LOL it's still going strong, but I know it wont last me another 12 years so I wanted to buy a new car that would. I was thinking of a Cobalt SS which costs $22,000 and gets like 36MPG and is FAST and SPORTY! What do you guys think?
The LA Auto Show was this weekend. You can find something nice, new, and shiny:
http://www.laautoshow.com/
http://www.laautoshow.com/
Haha, even though this is against all the other advice, I like your taste 😀
I thought a f458 was some type of federal loan I hadn't heard of 🙄
Advertisement - Members don't see this ad
But...the problem is you would have to WANT to drive a hyundai sonata...
I actually used loan money to pay for a generous part of a new mustang GT I got last year. After all I have a massive scholarship and very little loans anyway, so screw it (I use $15k per year for school).
I actually used loan money to pay for a generous part of a new mustang GT I got last year. After all I have a massive scholarship and very little loans anyway, so screw it (I use $15k per year for school).
hahaha yesh. and its practical and affordable too....
i mean... if u can pay for med schoool... this is... just around the cost of 4 years med school + cost of living. 😛
i mean... just skip the rent and sleep in your car😛
this.
if you are gonna buy a new car, i'd go with a hyundai or a a low-end toyota. anything else is a waste, in my opinion, and life doesnt end after med school. save it for mid-life crisis.
i'll probly get an old used car though
I drive a sonata. Would definitely recommend it as a value car.
Although I am nowhere near applying or anything my take on getting a car is, live it up, within limits of course.
Sure, look for reliability and efficiency, a smart buy. However, we are not getting any younger, so if a certain look caters to your fancy, go for it, enjoy it for now, don't hold back. We have a lifetime to make the green, but a shorter time to live the green.
Sure, look for reliability and efficiency, a smart buy. However, we are not getting any younger, so if a certain look caters to your fancy, go for it, enjoy it for now, don't hold back. We have a lifetime to make the green, but a shorter time to live the green.
You should do whatever you want... But why not get a reliable, economical, used car? It's a much better financial decision. A college student who has taken out student loans is in no place to be buying a brand new car, but that's my opinion.
LOL, Yeah I know, but who doesn't step on the gas for the thrill of it? I just do it a little more often. 😎
heh...i do too. it was actually my dad's. he gave it to me after my crappy chevy finally died. i really like it, it's a better car than i expected and you get a lot for the price.
I plan on buying a 4-6 year old used car or a "cheap" (<$25k these days) brand new car when/if I get into med school. i.e. you can get a few nice cars like an MB E500, BMW 5-series with a V8, etc. for 15-20. Or something like a mazdaspeed 3 or what-have-you, for about $25k. New cars are nice because of the "lower" amount of hassle (exception: the first year run of a new model) you have to go through, amongst all the additional intangibles.
type of car you get will determine how much you pay for insurance too, just an obvious reminder
If you're a smart shopper, you should be able to find a driveable (drivable?) manual transmission car for <$500. It won't have many extras, but it will get you from A to B for a year or two with little trouble 🙂
😱😱😱
Actually have a very similar experience. It was my dad's. He gave it to me a while after my crappy '91 BMW died and he upgraded to a new car. I really like it too, and was also surprised by how nice it was for the money!
I would really advise against getting either of those used. Parts and labor will kill you.
Advertisement - Members don't see this ad
It's almost certainly the other way around. First, student loan interest isn't the great deal it used to be. My car note has a lower interest rate than my student loans and they don't pay the interest on your subsidized loans through residency anymore. Second, you're paying your student loan off over 20 years as opposed to your 5-year car note, which compounds interest a heck of a lot more. You'll lose thousands by paying off your car with your student loans. Thirdly, why get a new car? I bought an 8 year old Toyota with 80,000 miles for <$5,000 and it lasted me 8 years so far and is still going strong. This is not unusual in the least. Ask any Toyota owner.
Whoa, whoa...now that's a little too "practical"
I think I'd rather have a bicycle than a metal coffin 😀
It's a good alternative to buying a new 5-series or E-class. I would probably buy a (4-6) used or CPO subie or mazda for that exact reason.
You can get a much nicer Malibu for that same amount. I wouldn't pay 22k to drive a compact car.
That's a totally different class of car, with a very different set of skills. I wouldn't mind a compact car, provided there was enough room for me inside. (interestingly enough, my friend's civic probably has as much room as my older lexus GS)
I agree, but the quality of materials that go into the Malibu and the standard features are much nicer than what they put into a Cobalt. It just looks more expensive. I feel like you're getting more car for the money. Also, I recently drove a Cobalt as a rental and all I can say is "Hell No." There's no center console in the thing either. What the heck kind of car doesn't have a center console? My arm was floating in mid-air while trying to change the radio stations.
I have a comparable (to the Malibu) base model Pontiac G6 and it's sporty enough, but doesn't feel like I'm in a toy car.
Yeah, I know what you mean. I would probably choose the Malibu over a cobalt, myself. But I think it's really an apples😳ranges comparison. If he wants something really fast, the SS is certainly a better way to go.
I agree.
I mean I guess it's the kind of thing he'd have to go the dealer and check out. They're in the same price range and are sold and the same place. Might as well test drive both.
When I bought my G6, I went in determined to buy a Vibe. After driving both and seeing the pricing was the same, I couldn't justify buying the "lesser" car.
