Mazda 6 Forums banner
21 - 33 of 33 Posts
I made the mistake of buying a brand new car while attempting to pursue a college degree. After my first year, I lost my financial aid and I now have a $3600 balance for this past semester that I must pay for. If I didn't have my 6, I would've paid that off nicely, given my work-hours. Instead, half of my monthly income goes to pay for and insure my car. The rest goes towards other unnecessary bills such as my cell phone, credit card debts, and so forth. Having financial burdens has affected my grades negatively and I feel like I would be an A-student without all these hassles. Plus, my family is low-income so I'm paying all my own bills myself at 19 years old. Wait for the car. It's not that big of a deal to have a new car. I've had one for six months and it's grown on me so much that I feel like I'm paying for something I could have easily gotten much cheaper used or something.
[/b]
With all due respect, you banked on something that wasn't 100% yet (the financial aid). The good point though is that you're 19 and you have your own brand new car without anyone else's assistance. You're also paying your own bills. I have friends who are almost 30 that can't say that. Don't let money and bills stress you out and mess up your grades, it's not worth it. Trust me, it'll all work out and you will be glad you did things the way you did.

Another thought is to get a job that provides tuition reimbursement. I was lucky enough to fall into that with both of my jobs actually. I am going to go back to school in either January or over the summer for my associate's in finance and my company will pay 100% up to $5500 a year as long as I get a C or better.

But honestly bud, good luck. Also, if the bank hadn't thought you could afford the car, TRUST ME you wouldn't have gotten approved for the loan. It'll all work out for ya and Happy Holidays!
 
I actually feel quite proud of myself that I get through such financial hassles every month, so, thank you very much for those kind, reassuring words. I could use a second job during my semester off to balance out my tuition and make a principal payment on my car loan, but I am sure I will achieve those goals somehow. There's no need to be rushed. Rushing never worked out for me.
 
Keep doing what you are doin man, you'll be fine....

I wish my job payed for school, but those cheap fuckers don't even want to pay what our division is worth so....It would be difficult enough having them pay for school.
I don't understand corporate america, it seems like logically you would want to help your employees succeed and grow. Therefore making their business better creating a more work efficient employee...
 
I don't understand corporate america, it seems like logically you would want to help your employees succeed and grow. Therefore making their business better creating a more work efficient employee...
[/b]
The vast majority of the time, once you pay to educate a worker they find employment elsewhere. So you're paying to further the education of some other company's employees. American workers just change jobs too often. The odds that you'll be working for the same company 10 years from now are very small. Employers that offer tuition assistance are, generally, those that have a lot of loyalty within their workforce and/or those that are large enough to offer a wide breadth of succession opportunities to their employees so that they don't end up bored with one job and don't have to move companies to try something new.
 
Discussion starter · #25 ·
Well I kind of made up my mind. I found a base model tC for 16 grand, brand new. I will give about 3000 down payment, so payments are going to be about 240-300 dollars a month (72 months). An used car is not a bad idea since it's true what you guys say about college. I feel the same way J Dragon feels, but is always good to have a back-up plan in emergency cases.

I talk to many people daily and is amazing what they tell me... I talk to people who own their small businesses getting about 1+ million a year easy, and they all tell me the same stories. "It's all about your social skills, school is back up." They tell me school is just a test of self-stamina. Basically it helps determine how you are able to keep up with things through long periods of time. Of course, it also serves are a good preparation but it doesn't always determine FULL success in life, as in wealthiness.

The way I see it, a car is a car, turbo is pretty cool, but I think for my age is just a little too much. I am not that responsible, let's just put it that way. I never found money being an issue, that's why when I want something I make sure I can have it, or know if I have a way to get rid of it. Yes yes, I know I am young, I don't pay for houses or other crazy expenses, but compared to most people my age, they are pretty unstable when it comes to paying their stuff. That's why I will go with you guys. I'll buy a nice used car or a cheap one I CAN pay for and not cripple my future financial status.

Thanks for the advices.

:huh:

that is reason no. 1 to go to college, maybe take some grammar classes! sorry just had to point that out! :p
[/b]
God damn... This was like at 5 am the other day. So many errors in one sentence... lol
 
You are right, It is about social skills.....Education is simply just a test of how you can learn. If you can talk your way into the job, no matter what educational backround you have...you will get the job.
Also, It is also about WHO you know not always WHAT you know.
You got a very nice car, now go out and get your education, because it is important....
Very Good choice in Car, Very reliable car too..

I know a few people who have no college degree and make more money than I do, and I have a degree...something to think about ^_^
 
Discussion starter · #27 ·
You are right, It is about social skills.....Education is simply just a test of how you can learn. If you can talk your way into the job, no matter what educational backround you have...you will get the job.
Also, It is also about WHO you know not always WHAT you know.
You got a very nice car, now go out and get your education, because it is important....
Very Good choice in Car, Very reliable car too..

I know a few people who have no college degree and make more money than I do, and I have a degree...something to think about ^_^
[/b]
:yesnod: Thanks. Well I am going to see what happens. I am working 41 hours a week to make up enough for a good down payment. I found that particular tC for that price, and well, is not a bad car for somebody my age. Low insurance, low payment, not so fast. Also the car came out in the KBB top-10 value retaining cars, so I can have this for now and not worry about them giving me a bad trade in price for a future car. Many things to consider. I would love to have a MS6 though :(
 
The vast majority of the time, once you pay to educate a worker they find employment elsewhere. So you're paying to further the education of some other company's employees. American workers just change jobs too often. The odds that you'll be working for the same company 10 years from now are very small. Employers that offer tuition assistance are, generally, those that have a lot of loyalty within their workforce and/or those that are large enough to offer a wide breadth of succession opportunities to their employees so that they don't end up bored with one job and don't have to move companies to try something new.
[/b]
My job offers tuition reimbursement, but you have to work for the company for 2yrs. after you graduate or you have to pay them back the money they paid for your education.


:yesnod: Thanks. Well I am going to see what happens. I am working 41 hours a week to make up enough for a good down payment. I found that particular tC for that price, and well, is not a bad car for somebody my age. Low insurance, low payment, not so fast. [/b]
Low insurance on a tC? Don't bank on it. My friend has one, and he pays more than I do in insurance per month. His driving record is pretty bad though, so that may have something to do with it. If you're smart, get your parents to put the car in their name, base the loan on their income, and make you the co-owner. That way, you can have lower insurance and most likely a lower interest rate. Just something to think about...

Also, you may want to know your credit score BEFORE you go into getting a car loan, so you know the finance manager isn't screwing you over. If you go to www.experian.com you can find that out for either free in select states, or for a small fee.

Good luck!
 
Discussion starter · #29 ·
Well I am still on the fight for this car, now I am into a Camry 07. Insurance full coverage is 183 a month, I am 17 years old, 1 at-fault accident. Don't ask me how they gave me such a low price, is an agent that is my mother's friend so they make prices for us. I am really exited insurance is so low for somebody my age. I know 20 year olds without tickets or accidents paying 200+ for Corollas so is not bad at all. They have them for 18 grand, a special running until Friday. What do you guys think? I am expecting to pay about 600-650 a month (car + insurance + fuel).
 
What are the options, engine, body? A base 07 camry CE invoices for just under 17K.


Btw, who are your financing with? When you were talking about the TC the payments were way too high.


As far as financing goes, there are no tricks. Its just math. You should do the math ahead of time yourself.

Here is a good calculator.

http://www.capitalone.com/autoloans/help-c...ALGNRCTL1106001

Anything more then it shows is them trying to add "payment protections", worthless insurances, etc etc. Dont buy anything more.

Anyway, good luck, let us know how it goes.
 
hey there! im also in a simular situation. i've been working since i was 12 years old as paper delivery boy and anything i could do and saved all my money. im 20, nearly turning 21, bought my mazda 6 september 4(labor day).the income i earned while working were all invested into various funds and stocks that i made sure provided a constant small return in a long term period with low risk. now that i needed my own car, i made a list of the cars i wanted. i looked and researched hours to find my car whether it was used or new. i initially wanted a madza 3 but when i drove 55 minutes to a dealership out of town that had a sale, i saw the mazda 6 in dark cherry mica. i fell in love with it at first sight. i got it for a little over 17500 after several rebates. the dealers wanted to charge me high interest (up to 20%) even though i had established my credit however i was a first time new car buyer, but it was lowered to 7.9 after i started leaving the place (my cousin also co-signed). i put down 12000 and financed the rest. i truthfully could have paid the whole amount if i had sold all my assets but you know what? i knew i could make more money investing then i would be paying the interest off. right now i pay 317 a month for 2 1/2 years and insurance is 769 for 6 months. thinking about it 4 months with the car. yes i gave myself a finantial burden, i currently still work 2-3 jobs as school is out atm. and try hard to live a frugal life of low spending (its hard). but u know what? the car has made me happy mentally. it has put me in debt because i have to work harder to pay off the car and the neccessary bills including school and taxes. but even if i didnt buy this car, i would still work as much if i had bought a used car. i would be able to save and spent more but heck im worry free for a bit with maintenance. the car has given me a sense of independence and freedom that i wouldnt trade it with anything else. even if i could sell the car and lose some money then buy a used one, would i? probably not, i love the car, i use it everyday. sorry for the long post but this is what i think. if it makes u happy in life, get it. there are always solutions around. u just gotta find it and strive hard to reach it.
 
hey there! im also in a simular situation. i've been working since i was 12 years old as paper delivery boy and anything i could do and saved all my money. im 20, nearly turning 21, bought my mazda 6 september 4(labor day).the income i earned while working were all invested into various funds and stocks that i made sure provided a constant small return in a long term period with low risk. now that i needed my own car, i made a list of the cars i wanted. i looked and researched hours to find my car whether it was used or new. i initially wanted a madza 3 but when i drove 55 minutes to a dealership out of town that had a sale, i saw the mazda 6 in dark cherry mica. i fell in love with it at first sight. i got it for a little over 17500 after several rebates. the dealers wanted to charge me high interest (up to 20%) even though i had established my credit however i was a first time new car buyer, but it was lowered to 7.9 after i started leaving the place (my cousin also co-signed). i put down 12000 and financed the rest. i truthfully could have paid the whole amount if i had sold all my assets but you know what? i knew i could make more money investing then i would be paying the interest off. right now i pay 317 a month for 2 1/2 years and insurance is 769 for 6 months. thinking about it 4 months with the car. yes i gave myself a finantial burden, i currently still work 2-3 jobs as school is out atm. and try hard to live a frugal life of low spending (its hard). but u know what? the car has made me happy mentally. it has put me in debt because i have to work harder to pay off the car and the neccessary bills including school and taxes. but even if i didnt buy this car, i would still work as much if i had bought a used car. i would be able to save and spent more but heck im worry free for a bit with maintenance. the car has given me a sense of independence and freedom that i wouldnt trade it with anything else. even if i could sell the car and lose some money then buy a used one, would i? probably not, i love the car, i use it everyday. sorry for the long post but this is what i think. if it makes u happy in life, get it. there are always solutions around. u just gotta find it and strive hard to reach it.
[/b]
:yesnod:
 
21 - 33 of 33 Posts
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Top