FIRST CAR? Do you respect what im doing should I be doing this or is it plain stupid? - Page 3 - Saturn Sky Forums: Saturn Sky Forum
Getting Your Saturn Sky Forum for discussing the process of ordering/tracking/buying your Saturn Sky. Ever wonder what a VOMS is? How about an "image", or how cars are allocated? The answer probably lies within.

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post #31 of 38 (permalink) Old 08-17-2015, 01:26 PM
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Originally Posted by Rockchops View Post
FWIW I never add in depreciation as something to budget for. Of course it is a depreciating asset, but putting aside $300/mo for mostly depreciation seems silly. Give it 2 years and you have your car plus six grand sitting around, just for the heck of it.

That was only $100/Mo for depreciation, and for loan situations where the value of the car is less than money owed. Many times I've seen young folk with limited means (and maybe a few older folk as well) get upside down on a loan. They find themselves in a "must sell" situation (often due to finances) or the car gets "totaled" and the car's value is less than the loan balance.

Better to have a grand or two in the bank to cover a bad day, than to need a grand or two and not have it.

I noted that if the down payment covered the depreciation, then don't need to factor it in to the budget. I guess I could have also mentioned "gap" insurance.

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post #32 of 38 (permalink) Old 08-17-2015, 02:42 PM
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I want to add my 2 cents (or "pile on" as the case may be).
Realize that everyone on this list can identify with your taste for a Sky.
Also, you are wise to seek some opinions and to have given thought to your monetary situation already.
Aside from $ and maintenance, the Sky, et al, is a toy, essentially.
Unless you already possess the tools, skills, and a garage to work on a car, you should consider that something easier and cheaper to maintain will not rob you of a personal life in college. You may find it better to have some room to tote books, projects, and other people occasionally. You want something's that handles well: several Hondas/Acuras (not all) have double wishbone suspensions that are great. You want to save more: parts for a Ford focus are cheap (relatively speaking, at least). The good part about these is that they can be cheap to buy, easier to live with, and can be bought and sold more easily. You can pick one, and if you don't like it, trade it for something else without suffering too much. Then you will gain experience of what you really like/want. Your desire for a Sky may increase, but it may not. Do not worry about missing out; There will always be something out there to capture your interest the next year...and there will always be used Sky's. Overall, before going so far as to get a car like a Sky, get something else first, and get a year of college under your belt. Adjust to your new life first.
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post #33 of 38 (permalink) Old 08-17-2015, 02:44 PM
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...and be sure to figure in insurance costs!
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post #34 of 38 (permalink) Old 08-17-2015, 07:17 PM
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There has been a lot of advice given here. Most of it has been to advise the OP against buying a Sky at this time in his life.
I haven't seen where the OP has responded to any of the posts and I doubt he has even been back to read them so we probably can end this discussion unless we hear from him again.

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post #35 of 38 (permalink) Old 08-18-2015, 12:21 PM
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Well, the OP did say he already had his mind made up. Was just looking for independent validation. His "family" already stated he wasn't making a good decision...and we pretty much backed up his "family".

As most of us old farts know, you gotta experience failure to learn about failure. I remember this exchange between a student and a successful businessman:

Student: How did you become successful?
Businessman: Good decisions.
Student: How did you learn how to make good decisions?
Businessman: Bad decisions.

OP is young and "in love". Hope the decision isn't too bad.

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post #36 of 38 (permalink) Old 08-18-2015, 12:28 PM
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Originally Posted by Bogie View Post
Well, the OP did say he already had his mind made up. Was just looking for independent validation. His "family" already stated he wasn't making a good decision...and we pretty much backed up his "family".
Well he did say 'pretty much made up' but yeah, at that age that means the decision has been made.

Guess we should ask for his parents email address next time so we can offer advice directly - I'm betting they aren't ever going to read this thread....

Bogie, you are nominated next time this happens. You can create a standard post to such people:

"What, you parents don't think you should have a sports car instead of going to college? The nerve. Send me their email; address so I can give them a piece of my mind..."

Might even work!

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post #37 of 38 (permalink) Old 08-18-2015, 01:18 PM
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Of course, the OP could be the parent, posing as the teen.

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post #38 of 38 (permalink) Old 08-19-2015, 01:58 AM
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Originally Posted by Bogie View Post
Well, the OP did say he already had his mind made up. Was just looking for independent validation. His "family" already stated he wasn't making a good decision...and we pretty much backed up his "family".

As most of us old farts know, you gotta experience failure to learn about failure. I remember this exchange between a student and a successful businessman:

Student: How did you become successful?
Businessman: Good decisions.
Student: How did you learn how to make good decisions?
Businessman: Bad decisions.

OP is young and "in love". Hope the decision isn't too bad.
I like the corollary:
Smart people learn from their mistakes;
Really smart people learn from others' mistakes.
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