So im graduating college in 2 weeks, and my new job will be anywhere from a 3-12 hour drive away from home. I would be coming home every other weekend or so. My current car(a 99 saturn sc2 with 143,000 miles) i dont quite trust to make it that far. So i need a new car. Problem is, right now i have $80 in my bank account and my parents will not cosign a loan that is over a certain amount. Problem 2, the only car i want is 22-26,000....
a 2006-07 subaru sti.

After i get the car, i plan on getting another bike in the fall(06-10 600rr)

So my real question is, how much could i possibly get for my bike?

Another question is, what sort of interest rate could i expect?(Ive never had a loan like this before)

Pics are always fun:
My current carHad it since 11th grade in high school)

It has more stuff done to it than i care to list.($1000 audio system, rims, suspension, blablabla...)

New wanted car:


The bike:

Lets see if i can remember all the stuff:
-HID's - 6000k low 3500k high
-PCIII USB
-Armed guard alarm with pager G-force 200P
-Jardine highmount with lowmount midpipe/pass pegs as well
-Custom LED superbright integrated taillight(only 3 in existence)
-Vortex Frame sliders
-Hotbodies flushies with 2-3 wire conversion
-red/white backlit gauges
-smoke DB windscreen
-pimpbikes undertail in r258
-red rim stripes
-gloss black painted air duct covers
-integrated LED Signal mirrors
always changed oil with royal purple, always cleaned, and very well taken care of. Has 22XXX miles. You wont find an f4i in better shape.

So im hoping for 4k or the bike, and like 3-3500 for the car. Is that reasonable?

 

DON'T DO IT!!!

Your F4i is mint man. You'd be kicking yourself in the face every day when you could be riding.

Couple things come into play - why would the job be 3-12 hours of commute? I assume you would be staying there during the week. Putting that sort of mileage on the car (12 hours of drive is roughly 600 miles so that's 1,200 miles a week) Do you really want to be putting that kind of mileage on your Sti that you want so badly?

I would get a newer, used camry or civic. Maybe even a hyrbid. Save the fun fancy cars for when you've been working a few years and have your financials under your belt.
I realize that, that probably isn't an answer / option you're looking for, but I think it makes the most sense.

Spending 8-15 grand now on a car will allow you to build up your credit history and if your job pans out you can afford to upgrade in a year or two.

As for you getting a loan a lot of that will depend on your credit history.

Do you have credit cards? Are they in good standing.

Do you have student loans? Have you ever financed anything before, such as your F4i or any previous vehicle?

 

yea i will be heading home at max probably once every two weeks. otherwise its about 5 miles to the job. Most likely in buffalo, NY or somewhere in the state of Maine...hence the need for AWD.

no credit cards, but yes student loan. Ive never financed anything before.

I want to get a newer 600rr in around october or near the end of the season when they are cheaper. Maybe pick up a new "last years model" off the showroom floor.

I do love my f4i yes, but i loved my mint f3 before that, and my yamaha xj cruiser before that.

 

I agree with Nate. If your main reason for selling your old car and getting a new one is to get to work, then don't gor fot the fancy car. Get something that is good on fuel. If you want to get 600RR and not want to keep f4i, then selling it make sense. but with the price tag of your dream car and the gas that you will be using commuting, you will be spending money on the car. when my ex had car loan for 20,000, he was paying like $500 on, I believe less than 10% interest rate. Plus the full coverage insurance.

 

Those numbers sound right. I spent ~24k on my Mustang and now I pay $400 a month (plus ~100 in insurance) for it to sit in the driveway 28+ days a month (and have for years).

With the amount you'd spend in gas (especially with gas skyrocketing again) it'd be cheaper to leave your stuff in your house where the job is and commute on the bike. The only problem could be weather, depending on where you live and how much it rains/how cold it gets/etc.

 

all i can say is that the novelty of the subie will wear off real quick. you will miss your bike...trust me. I swapped my bike with a friend's 450whp scion tc for a day. at first it was such a nice change, and the turbo was great. but after an hour i told him to pull over cuz it killed me seeing him have so much fun on my bike while i moved a stick around.

 

Bah... I hate being indecisive... Lol

I do want a 600rr, I've wanted this car since 2006, so I really don't know what to do. I'm sick of being trapped in a slow( yet very good on gas) car. I guess what should probably happen is sell the bike only as a last resort. I might be able to squeeze myself into a subie with just selling the car and and saving for a month for a down payment, then my loan will be within reason for my parents to cosign.
hmm
Ideas are dangerous

 

as a guy that drives vehicles into the ~200k range, what's wrong with the Sc2 other than you want something new? I think it looks pretty sharp.

Why don't you trust it to get you somewhere and back? Has it been a maintenance nightmare?

150k isn't really that bad for a 12 year old car ~12K a year in mileage. Is the trans or clutch slipping and in dire need of repair? Are there other mechanical issues?

I don't wanna crush your dreams I love the sound of a boxxer engine- but, those Subies can be maintenance intensive - esp when you start thinking about slapping things like stage 2 kits on em. Also - buying a used STi is pretty much begging to get one that's been driven hard and put up wet. There just aren't tons of 4-5 year old ones that haven't been tinkered with.

Don't sell the bike unless you're sure just to get into debt on a car. Hell - my 125K mile blazer blew a heater hose Sat afternoon, Hey - look there's a second vehicle in my garage! Grabbed my helmet and jacket and rode to fight night instead. Fixed the truck for $14 and an hour's worth of work the next day. Until my truck averages more in maintenance than what a new truck note+the better fuel mileage would run me, I just can't see getting rid of a paid-for vehicle unless I'm making way more money than I am spending.

 

Oh - and for interest rates - look into signing up with a credit union. Usually if you have a checking acct there w/ direct deposit, you can get pretty decent auto loans. Typically much better loan rates than banks will be willing to loan. My last 2 vehicles were financed at <5%.

 

I've been wanting to sell my truck and buy a car for so long now.

I started off with my eyes on a b5 S4. Then reality set in, and the reason that college kids are selling them is they can't afford them. So why could I afford an s4+bike??

Then I got more realistic, with a b5 1.8t a4. I could comfortably purchase one and get it chipped, intake, exhaust which would keep me satisfied for a while. But still, its a german car and do I want to put myself at risk for potential issues (electrical? I hate trying to figure that out)?

After that was a bugeye wrx. You can fairly easily and reliably make 300 hp. But they were more costly initially. Plus if the PO drove it like a civic, chances are you are stuck with a spun bearing from what I read. Fuuuuuuuuuck that.

So, as gay as it may sound, I started looking at accords. Yes I know. I don't want one to rice around in, just a cheap A to B daily driver. No mods, no nothing really. Just basic maintenance. We all know they are stupid reliable and it would sure beat 10mpg in the ram. Sure you cant look badass getting out of an accord. But you CAN keep your bike, and that will get you more ladies than an sti (pun?)