I am wondering if anybody else has had this predicament.

I currently drive a BMW 335i coupe and am getting tired of my high monthly car payment (I put almost nothing down)... hence I want to switch to a different car. I am nowhere near strapped for cash but with my current monthly payment I figured I cannot sustain something that high and move out (I live at home and yes I know I'm spoiled).

I am thinking of trading in my car for an econocar (VW GTI or Golf TDI) and start saving now for the future... or wait until the end of the year and try to find myself a relatively cheap Cayman S or 997.1 after my CD matures (a LOT more money).

I know the brain says get the VW but obviously the heart does not agree. Especially since almost everybody, except a few coworkers and my close friend, says I will just be unhappy if I go down the VW route, which isn't a knock on the car. I am probably overthinking this situation, or just being very stupid about it.

If I end up w/ a Porsche I'd probably be driving it until it explodes... I don't what can you drive after that besides a newer one.

 

I did buy my 997.1 with that attitude, but after only looking over my finances to be sure that it will not affect my other monthly obligations.

 

If I may respectfully suggest, you are better off saving your money and buying a house/condo. You don't say how old you are but IMHO you are better off learning to live on your own. Once you have that figured out, get yourself a P-car. You will enjoy it that much more.

 

Beat me to it

I would save on the car and get my own apartment.

When I was your age ( I assume you are still young) I would rather have my own apt and a cheap car then live at home with a nice car !!

 

I did.. I only live once is my attitude.. I have it, i own it and i have experienced it.. Ill sell it and go on to something else once its out of my system.. However ill always own a Porsche of some sort as long as i can afford it.. Im addicted.

 

There have been a few times that I have had to sell an expensive car quick and cheap in order to lower my income to debt ratio and be approve for that home loan. So it wont just help you save, it will make it possible for you to get approved on a mortgage with a low car payment.

 

I bought my car after my brother had a ruptured brain aneurism at 33, followed by my mom having the same thing happen to her 1 week later. Life is short, enjoy it. That said, there would not be a chance in hell that I would have bought it if I still lived at home.

 

Another thing to keep in mind is that if you can do it now....doesn't mean you'll always be able to do it. Sometimes you have to do things NOW or you may never have the chance again.

J

 

my advice is to buy a cool and fun used car, instead of leasing a VW or getting a Pcar later this year..

nothing wrong with the VW, but if u r hesitant, its prob because its not what u want.

pick a reliable car that u may like with a good re-sale value (i.e. miata) .. look for a great deal on it(private party).. buy it and drive for 2-3 years.. then sell it to a private party later when u r ready to make a change (u may only lose few grand, if u got a good deal originally).. maybe even to a Pcar.


and live at home as long as u can or seriously, until u can afford to buy a house

why move out of the parent's house if u r only gonna pay rent to someone else?? save the money until u can put a down payment on a fixer-upper.. if u have to move out now into an apt, find several trust-worthy roommates to share the cost.

BOL

btw. Pcar is definitely the car to own and enjoy, since u only do live once

 

Thanks for the replies.

If I really wanted to move out, I can actually move to my parents' other house (which is actually a LOT closer to work) at the end of the year and just rent it out... maybe even take over the mortgage in a few years. Or they'll help me get a place (flame suit on).

I am not a big spender in any way and right now my car is my only monthly obligation... I pretty much wh*re out my 401(K) and Roth 401(K). Other than the occasional meal out and a Padres game, I don't have an urge for the latest gadgets, partying, vacation (already went to Monaco GP and then some), or whatever.

Still would like to get some more replies. Right now I would want to wait until the end of the year to get rid of it, since I figured that's when I can a good deal on anything.

 

If your folks are anything like mine, moving out is a going to be a hell of a bigger life-upgrade than buying a p-car.

 

Sounds like you dont really need our input but your parents.

 

Get a lambo, seems obvious.

 

I know so many poor guys with ridiculous cars...can't afford rent but somehow get a new gofast piece every month.

 

Mom says it's up to me, but she said if I got another car only a 911 would make me happy.

Dad doesn't say anything, but he tells me he should have bought that 930 in the 80's when he could have...

I guess I am confused about, in the end, what *really* is the right thing to do.

The best thing right now is to wait until the end of the year and assess the situation; who knows, I probably won't have an itching for a 997 then.