Automotive

What kind of car can I afford?

  • Last Updated:
  • Jan 10th, 2018 12:17 pm
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[OP]
Jr. Member
Oct 29, 2015
151 posts
27 upvotes

What kind of car can I afford?

Currently drive a 2008 Chrysler Sebring. I've had it since I was 16 and recently the transmission is about to go.

I have about 6 months left in my internship and I return to school in September 2018. I plan to commute to school.
Take home about $3000 a month and pay $200 for insurance and $300 a month for gas. I have about $10000 saved up.

Ideally I'd like a sporty manual coupe that's fun to drive but my commute is long (40km one way) and will not have any income during my final year of university.
What Car can I afford? What would you recommend?

Been looking at the following:
-2012 Audi a5
-2008 BMW 335i
-2013 Hyundai Genesis Coupe
60 replies
Deal Addict
Mar 10, 2006
3374 posts
774 upvotes
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Whatever you end up choosing, I would suggest to go with something that's affordable to repair/maintain.
You don't know where you need money until you settle down with a full-time job and regular life pattern.
Koodo $40 6GB
Deal Guru
Jun 11, 2005
12791 posts
1607 upvotes
Toronto
Subaru BRZ or scion FRS. Reliable, good on fuel, fun to drive, and cheap to buy when used.
Deal Fanatic
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Mar 13, 2004
9024 posts
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Toronto, Ontario
If your going back to school and will have $0 income then you should be buying a $5,000 car or less like an older Corolla or Tercel or civic. Once you are done school & land a full time job then you can go out and pick up a nice sports car when you can afford it. Because if you dont and you need to do repairs on the car and it costs you regularly you wont be able to afford it.
0_o
<_<
>_>
Deal Expert
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May 22, 2005
19029 posts
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Thornhill
That last year is going to be a money sink. The cost of the car, gas (looks like its also be premium gas), insurance, those will probably go up in price.

Also double check on those insurance price, $200 for insurance is for the Sebring. Those cars you're looking at, there may be a chance itll be much more then $200.
Deal Fanatic
Jun 24, 2006
6629 posts
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sickcars wrote:
Jan 8th, 2018 9:27 am
If your going back to school and will have $0 income then you should be buying a $5,000 car or less like an older Corolla or Tercel or civic. Once you are done school & land a full time job then you can go out and pick up a nice sports car when you can afford it. Because if you dont and you need to do repairs on the car and it costs you regularly you wont be able to afford it.
Was just about to say this.

In 8 months, you have no income. Therefor you cannot afford anything with a payment that goes longer than 6 months.

Buy something for less than you have in savings now, and try to recoup that savings before you are done working.
Newbie
Nov 28, 2017
58 posts
16 upvotes
Hi!

you are getting some good advice here. because you are looking at a used vehicle, all opinions in regards to a specific make/model/year are subjective. What car you go with depends on your market and what is available out there. So, I think the best advice so far is from terry0703! Any used vehicle will have higher maintenance cost, So, you need to factor that in to your monthly budget before buying.

The advice on the electric car is good, but the $14K is only in Ontario and only on certain electric vehicles - some only get $9000 and other provinces offer less.

once you have all your calculations, then check Autotrader and other online tools to see whats available out there in your price range.

Good luck,
Deal Addict
Mar 16, 2010
1858 posts
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m4r 1k8
DecayHeat wrote:
Jan 8th, 2018 8:41 am
Currently drive a 2008 Chrysler Sebring. I've had it since I was 16 and recently the transmission is about to go.

I have about 6 months left in my internship and I return to school in September 2018. I plan to commute to school.
Take home about $3000 a month and pay $200 for insurance and $300 a month for gas. I have about $10000 saved up.

Ideally I'd like a sporty manual coupe that's fun to drive but my commute is long (40km one way) and will not have any income during my final year of university.
What Car can I afford? What would you recommend?

Been looking at the following:
-2012 Audi a5
-2008 BMW 335i
-2013 Hyundai Genesis Coupe
have you thought about the accord coupe v6? should be good on hwy driving and has 272? horses

im talking about 2011-2012 model

can easily be had for 10k and far better than the 335 (turbo problems) and Genesis (RWD will suck in the winter + hyundai needs engine rebuild or will need it)

the a5 is nice but its going to be expensive to maintain
Banned
Oct 10, 2016
758 posts
331 upvotes
Why would you buy a used luxury car especially a 2008 or 2012. Get something new like a Civic turbo or GTI. Will you still work part-time while in school if yes go for a new car if not get something pay it cash like 5000$.
Sr. Member
Feb 19, 2012
901 posts
592 upvotes
Woodbridge
What other expenses do you have? $3000 a month take home isn't that much, particularly when you consider that your internship only lasts for 6 more months. If this is the case I would go for something more reliable than the cars you've mentioned (all of them are pretty old and potential money pits). The BRZ suggestion is pretty good as you should be able to find one that is about 4 years old for well under $20k.
Deal Guru
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Oct 5, 2008
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DecayHeat wrote:
Jan 8th, 2018 8:41 am
Currently drive a 2008 Chrysler Sebring. I've had it since I was 16 and recently the transmission is about to go.

I have about 6 months left in my internship and I return to school in September 2018. I plan to commute to school.
Take home about $3000 a month and pay $200 for insurance and $300 a month for gas. I have about $10000 saved up.

Ideally I'd like a sporty manual coupe that's fun to drive but my commute is long (40km one way) and will not have any income during my final year of university.
What Car can I afford? What would you recommend?

Been looking at the following:
-2012 Audi a5
-2008 BMW 335i
-2013 Hyundai Genesis Coupe
Bad list. The Audi and BMW won't be cheap to run, repair or insure. The Genesis is the best choice if you are limited to those 3, but I'd look elsewhere.
trixstar wrote:
Jan 8th, 2018 8:55 am
Subaru BRZ or scion FRS. Reliable, good on fuel, fun to drive, and cheap to buy when used.
Good choice.
Member
Apr 24, 2011
314 posts
84 upvotes
Scarborough
Buy a cheap crappy but reliable car as you won't have income and getting any repair/maintenance bills especially for the cars you're looking at will hurt.

Once school is done and you have some income, you'll have a better idea of what you can afford/maintain.

If you're set on getting a car, I'd buy a used Japanese non-turbo car. The 335 and A5 is just asking for trouble with no money for emergencies.
Deal Addict
Aug 10, 2013
2440 posts
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DecayHeat wrote:
Jan 8th, 2018 8:41 am
Currently drive a 2008 Chrysler Sebring. I've had it since I was 16 and recently the transmission is about to go.

I have about 6 months left in my internship and I return to school in September 2018. I plan to commute to school.
Take home about $3000 a month and pay $200 for insurance and $300 a month for gas. I have about $10000 saved up.

Ideally I'd like a sporty manual coupe that's fun to drive but my commute is long (40km one way) and will not have any income during my final year of university.
What Car can I afford? What would you recommend?

Been looking at the following:
-2012 Audi a5
-2008 BMW 335i
-2013 Hyundai Genesis Coupe
Image

I would not recommend you purchasing a vehicle at all. Smartest thing would be uber/ttc and if you must have a vehicle, lease. When you are making income then follow the life guide as posted above.
Smash that like button!
Deal Addict
User avatar
Dec 23, 2015
1761 posts
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Newmarket, ON
Out of those 3 the Genesis coupe is the most suitable for someone in your financial situation. They are actually quite nice.

Maybe also consider an Altima coupe, Accord coupe. Or how about a V6 Mustang, the 2011+ ones have 300 hp.

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