froggert Posted July 4, 2006 Share Posted July 4, 2006 normally i would suggest that you hold off for 6 months and see what your situation is then. but if you don't currently have a car and need to buy one anyway, the legacy might not be a bad idea. what are the 2.5i's going for nowadays? you seem pretty smart for even asking this question. prioritize things and decide what you really want now (and down the road). seems like there are kids, especially on nabisco, that don't make a whole lot of money yet drive ridiculous cars. they still live at home with their parents and don't have $$ for any food but taco bell but appear to be content making the car their top priority. Link to comment Share on other sites More sharing options...
AKLGT Posted July 4, 2006 Share Posted July 4, 2006 i dunno, my best friend was in a similar situation after she finished grad school. She had no car and needed it for her new job making $80K/yr. i'm not sure what she paid exactly, but knowing her, she still had some money saved up from working previously to put down. i would highly recommend you put SOMETHING down. new cars depreciate faster than you can blink! when i got back home after school, i got my first job (not making near as much but not bad for not actually getting my degree and being 19 yrs old) and promptly bought a new car, then 10 mos later traded it in for a different new car, then 6 mos later bought another one, etc and so forth. DON'T DO THAT! that's how you screw yourself over financially. looking back on my mistakes from my younger years, i would make sure you make up a budget for yourself, factor in cost of living, ALL expenses including entertainment, food, shopping, clothes, etc. make sure you can still put money into savings, 401K (never too early to save for retirement! we all want to retire early, don't we? ) and anything else you may want to save up or invest in before deciding how much you can afford on a monthly payment. as others have stated, cost to operate an LGT is pretty high, premium gas, only so-so fuel economy, etc. Wiggle wiggle wiggle wiggle wiggle yeah!!! Link to comment Share on other sites More sharing options...
mach_six Posted July 4, 2006 Share Posted July 4, 2006 Thing is, i'm a total cheap ass. I just want a nice car to drive to make my commute that much more enjoyable. You said you never owned a car before so I assume you weren't on anyone's insurance plan either. If that's the case you might get hit with a high initial rate for first time insurer, so you might want to call around to check the rates of an LGT. Might be feasible to buy a used car for now, since this is your first car and your rate will be high. I assume you're around 22 being that you just graduated so that doens't help there. And consider the fact that you'll be paying $45+ a week just to fill up. Link to comment Share on other sites More sharing options...
Scooter Posted July 4, 2006 Share Posted July 4, 2006 If you really like the car, then the other option is to try and pick up a used 2005 LGT instead of a new one, and save yourself that depreciation $$. You should be able to find one in good shape with some miles left on the warranty, although I'm not sure what exactly they are going for now, either - it might not be that much less than you can get new. $23k out the door sounds pretty good for new - if it's the car you want I say Go For IT! It's only money... Seek first to understand, then to be understood. In other words: SEARCH before you post! Link to comment Share on other sites More sharing options...
emomoonbase Posted July 5, 2006 Share Posted July 5, 2006 The price seems ok as long as you get good loan terms and all I think a $23k car would be fine on your income. I make a lot less than you and I was going to get a GT but ended with a new 2.5i for around $20k just because it fit my budget better. Besides cheaper insurance I also get 33mpg on the highway with the thing and it uses regular gas. As I do a lot of commuting to work it just kinda made more sense right now. Not to say I won't upgrade to a GT or a Spec B later. Link to comment Share on other sites More sharing options...
DukeTrout Posted July 5, 2006 Share Posted July 5, 2006 You can go either way here. I did what you are proposing (buying a ~$25k car with first job and no debt) and it worked out just fine. I paid mine off two years early. Almost 10 years later, I still drive it. I'm going to replace it next spring with a Legacy GT. If the job is 100% solid and you plan to drive the LGT into the ground long term, then go for it. If you are working for a big company that can lay you off at any time, then I'd reccomend getting a cheap, reliable used car (cough, Honda Civic, cough), holding it for a year, and buying a new '07 Legacy GT, or even waiting for an '08. Get a 5 speed manual on the used car, and it will also serve as training wheels so that you can get a 5MT if you want for the LGT. Ich bin echt viel netter, wenn ich nuechtern bin. Echt! Link to comment Share on other sites More sharing options...
Deer Killer Posted July 5, 2006 Share Posted July 5, 2006 Will you have a minimum of 6 months worth of expenses (rent/car payments, food, bills) in the bank after you buy? You could just save for a year and pay cash, depending on your circumstances. Link to comment Share on other sites More sharing options...
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