Parents don’t want to buy a V8?
Hi. I’m a college student and my parents are helping me with purchasing my first car. They are paying for it and I will be paying them back over time. Sounds perfect right? Not quite. I’m very picky about vehicles and our maximum spending range is 00. I live in Madison, WI so the market is fairly limited. My parents say it needs to be within 75 miles so if it breaks down we can take it back to be covered by warranty.
All reasonable but the problem is, like I said, I’m very picky about cars. The way I look at it, this is an investment, and the only car I will be using until I am financially independent. Anyways these are the criteria that must be met:
1) black or silver
2) have a cd player
3) be luxury (power everything, leather seats, heated seats preferred etc.)
4) look nice [the only cars i like are sedans or coupes, cadillac (not catera), bmw, lexus (don't really like ES and no others are readily available in my price range), or mercedes (don't like c-class)]
So, thats a lot of information.
I’ll summarize.
I want a car, ideally a black Cadillac STS with a cd player and heated seats, but it tends to only come in V8.
I actually found a 2003 STS with a V6, but it only costs 00. My parents, and I’m a bit skeptical as well, are convinced theres something horribly wrong with it. Is there a way to get the dealer to be honest? HA! Or is it really that great of a buyers market?!
I search every day on craigslist, cars.com, and the local newspaper.
I either need to convince them a V8 will be acceptable, or find a car that both parties can agree on.
Advice? (Don’t tell me not to be so picky, if I’m spending money, I need to like it!!!)
11 Responses
BING
01 Feb 2010
R P
01 Feb 2010
I gots a ’93 F-150 with just afew dents that I’ll sell ya fer $6000. Tell ya what, I’ll throw afew Caddy STS stickers on it.Just kidding. On a serious note, tell your folks the car is for you.Not Them. Refuse their generosity & buy your own car, that’ll teach’em
Robert C
01 Feb 2010
A car is not an investment.
pbleek
01 Feb 2010
Seriously, stay away from the STS, a relative of mine had one 03 or 04model with the V6, the car had many issues, from paint peeling to engine problems, spent lots of time waiting on parts to fix the thing. I would look at something Japanese, style is nice but having a reliable trouble free vehicle is nicer.
Jacque-Ophph
01 Feb 2010
Whatever vehicle you choose, please, have a professional mechanic thoroughly inspect the car or vehicle first before you buy it. It will cost you $100 or more, but trust me, it is worth the peace of mind. Make sure you are not getting a lemon or a car that does indeed have something terribly wrong with it.
There’s nothing wrong with being picky- I am the same way. Get the car you want! But make sure you can afford it, make sure to have it inspected first, and make sure it has all the options you want. Also, don’t get ripped off. Do your homework, and use KBB.com to establish the true market value of the vehicle before you buy it. Don’t ever pay sticker price. Right now, with the economy like it is, you should have an advantage at haggling the price down.
Good luck, and God bless!
DUG
01 Feb 2010
Unless I’m mistaken the cady should have the the engine that shuts off 4 of the cylinders, when at highway speeds. So you could make the argument that it is only a V4 part of the time.
As far as the prices go there is a very low market for used Cadillacs so they lose value very fast. Compound that with the current car price fallout and I would bet that is all they are worth.
I just purchased a Dodge truck extended cab…. My friend purchased the same truck 2 years ago I paid 22k for mine he paid 38K for his. A year ago my old truck a F250 Diesel on trade in was worth 15k when i went to the same dealers it was worth 5k. The drop in value was that the drop in new truck prices crunched the value of old trucks. As I shopped in october all trucks seemed to be about 25-30% off the price they were a year ago.
googie
01 Feb 2010
Have you ever heard the term " Beggars can’t be choosers " ? Until such time as you are financially independent, take whatever means of transportation the parents will subsidize. What you would like and what YOU can afford are miles apart.
not
01 Feb 2010
A luxury car that cheap will be expensive to maintain, are you prepared to spend $500 plus a month keeping it going. People don’t get rid of cars because they are great cars. My brothers BMW 540i (under 100k miles)that he paid much more than $6000 for, he’s had it about 2 years and has probably spent 6000 in repairs- no major failures either. A major failure will eat up 6000 by itself. You won’t find a 6k luxury car with a warranty, best you could do is add a drive-train warranty for say $1000 but there’s a lot of other stuff to go wrong that won’t be covered. I’ve seen it time and time again (I’m an auto mechanic). A 100k Caddy will make you bleed from your wallet. Is your wallet that fat, I’m guessing not if you don’t have the money to buy it.
Advise: find a car that is in your price range considering repairs, maintenance, insurance costs if you are on a budget. Get it inspected by a mechanic prior to purchase.
I’m picky too, but I am also sensible… A broke down car sitting in my driveway that I like or a running car that will take me where I need to be, which to choose?
Wine on a beer budget is never good wine
nate24
01 Feb 2010
Um, you need a reality check. A 2003 STS that only costs $5000 is a scam. They are all over craigslist. You WILL NOT find a five year old luxury car for $6000. Not even close.
A car is not an investment. An investment is something that grows in value over time.
c420wizzle
01 Feb 2010
A car is NOT an Investment, it is far from it!!! Also, a Cadillac STS may look nice and feel comfortable, but is a horrible choice!!
Miles Z
01 Feb 2010
You should also consider that such a car may be expensive to insure. Check your insurance rates before buying one, for example here – carquotes.imess.net
you will either need to spend more money or adjust your criteria.
cars like these are reliable and relatively easy to find.
2003 Mazda Protege
* Price range: $6,400 to $7,400.
* Fuel mileage, city/highway: 25/30 miles per gallon.
* Engine: 2.0-liter four-cylinder, 130 horsepower.
* Interior space: room for five.
* Safety: optional side airbags, optional anti-lock brakes.
* Government safety rating: driver, five stars; passenger, four stars.
2003 Pontiac Vibe
* Price range: $6,800 to $9,000.
* Fuel mileage, city/highway: 29/36 mpg.
* Engine: 1.8-liter four-cylinder, 130 horsepower.
* Interior space: room for five.
* Safety: side airbags optional; anti-lock brakes optional.
* Government safety rating: driver and passenger, four stars.
2004 Scion xB
* Price range: $8,900 to $9,700.
* Fuel mileage, city/highway: 30/33 mpg.
* Engine: 1.5-liter four-cylinder, 108 horsepower.
* Interior space: room for four.
* Safety: no optional side airbags; anti-lock brakes standard; traction control standard.
* Government safety rating: not rated in 2004 (four stars for driver and passenger in 2006).
2003 Buick LeSabre
* Price range: $6,700 to $8,700.
* Fuel mileage, city/highway: 20/29 mpg.
* Engine: 3.8-liter V6, 205 horsepower.
* Interior space: room for six.
* Safety: standard anti-lock brakes; optional side airbags.
* Government safety rating: driver, four stars; passenger, five stars.
2003 Subaru Impreza sedan
* Price range: $7,900 to $10,600.
* Fuel mileage, city/highway: 21/27 mpg.
* Engine: 2.5-liter four-cylinder; 165 horsepower.
* Interior space: room for five.
* Safety: standard anti-lock brakes; all-wheel-drive.
* Government safety rating: not tested.