Thinking About Buying Used WRX (19 Years Old)
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This is a discussion on Thinking About Buying Used WRX (19 Years Old) within the Car Purchasing Forum forums, part of the ClubWRX.net Marketplace category; Hello ClubWRX community, I am new to this site but have been reading through the forum for a bit now ...

  1. #1
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    Thinking About Buying Used WRX (19 Years Old)

    Hello ClubWRX community, I am new to this site but have been reading through the forum for a bit now (This forum has an awesome community!). I would love some feedback on the decision I am about to make regarding a used subaru wrx (I've always wanted one!). So let's get into it.

    First off, I am 19 years old, and I have been driving a 2001 Subaru Impreza Hatch 5spd manual since I was 15 and a half, with a perfect driving record thus far. The car has about 260k miles on it, and is still running relatively okay although it seems to be leaking oil slowly recently (help? haha). I'm currently in my second year of junior college, living at home with my parents (I am very fortunate to have supportive parents), working a fulltime job at $10/hr, and plan to stay here for the next year and a half while I finish my prerequisites for my major in order to transfer in Fall of 2015.

    The Reasons for getting a Subaru WRX:

    Over the past few months I have honestly been getting really sick of my hometown (I live in a low populated rural retirement town in northern california - weed country essentially) and it feels like I have nothing to look forward to everyday until I transfer and get out of this place! Partly because most of my friends are already leaving for college soon and I'm a year behind (took variety of classes to figure out what I liked and took it slow). As stated before, I have to be here for the next 1.5 years because of the fact that most UC's don't offer mid year transfers (I have my sights set on UC Santa Barbara - what do you think?). This is one reason that I've been seriously considering getting myself a new car. I want something that I can have passion for and have fun with (no I don't mean street racing and speeding down i80 at 120mph). More along the lines of something that I wake up to and have motivation to go to school, get good grades, and work hard for and feel like I earned it.

    The Statistics and The Plan:

    Keep in mind I live at home, my parents will support me as long as I get straight A's in college (so far so good). This includes phone bill, food, internet, etc.

    I have about $5k saved right now(before selling current car), and I pull in about $1000 a month after taxes. My credit rating is 771, and my mom is willing to cosign with me as she trusts my ability to make payments, pay for car insurance, maintenance, etc. I qualified for a 20k loan @ 2.64% APR for 5 years at Chase, but plan on maybe making a deal with a dealership that can give me a better rate? (One dealership quoted me 1.9% for a used 2013 Subaru WRX with 20k miles). $22,988 on that before tax, license, fees. Around 25.3k after I'm guessing?

    Doing the math for Chase 20k loan (roughly): Monthly Cost = $355 monthly car payment + ~$100 car insurance (quoted from State Farm - Dad as primary driver) = ~$455.

    How much can I expect for regular maintenance? I drive about 10-12k miles a year. I plan on not driving the car too hard for the most part and doing regular oil changes myself at 3000-4000 mile intervals? (Does that sound right?). I understand that unexpected problems may arise with the car, and can account for that as well.

    For sake of simplicity let's just say I put away $145 a month for maintenance/registration. That means I will pay ~$600 a month total for the car, which leaves me $400 in savings a month. Does this sound realistic?

    So: $400 a month for 1.5 years = $7200 in savings (This does not include the fact that I will be working more after this semester due to less classes and can expect a pay raise in the near future)

    I'm not normally a needy guy, so let's say over that span I will spend ~$3000 on entertainment, presents, or whatever may arise. By the time I hit a UC system I will have $4200 in savings at the very least. During transfer, this leaves me with ~6-7 months to get another job and settle into my new life. I am also very much willing to sell the car if at any point if I feel that I can't handle it, and I hear that they retain their value pretty well.

    All this said, I am looking for a used 2011-2013 Subaru WRX with preferably <30k miles and will honestly have nothing less as I don't want to regret anything. I've been searching around, but I don't really feel like haggling when I'm not ready to make a purchase just yet. What would be considered a good price range for

    2011 Base Sedan:?
    2012 Base Sedan:?
    2013 Base Sedan:?

    The Dilemma:

    Lastly, am I being a typical young and reckless 19 year old kid who's in over his head? I have some people trying to persuade me not to get it and tell me to save my money for other things like college. I already have a small college fund, but I figure that no matter what I will be taking student loans out by my second semester at a UC. I have a great work ethic and I know I can land a job out of college if I do everything right and have the right connections, and pay off my student loans eventually. That said, should I just tough it out and do the more financially sane thing?

    On the other hand, there are people telling me to get it and live life while your young. Worst case scenario, you have to get rid of the car and lost your butt on a bit of money. I feel as though the car will make me want to make the trips up to the mountain more, travel down to see my friends, and enable me to have a little more fun for the short while that I am still at home.

    If you got this far, I applaud you. Thanks for reading! Leave your thoughts below

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  3. #2
    He simply abides. SD_GR's Avatar
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    Quote Originally Posted by CaychO View Post
    That said, should I just tough it out and do the more financially sane thing?
    Yes.

    I think you could not, and am certain you should not, afford the car.
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    Pro Manscaper Mikie13's Avatar
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    That doesn't sound realistic at all...$1000 a month will not cover your $600 a month car/insurance + living expenses. No way in hell. Gas alone will cost you $100 a month...food on top of that will be more than $100 a month unless you plan to eat Ramen every meal.

    Especially when you transfer and don't have a guaranteed job. You may be smart and have a great work ethic but a job right out of college is not guaranteed. I had friends in the same boat after graduation...who didn't get a job until 6+ months later.

    I just don't believe its a smart choice. I know we all want to have a nice car and enjoy it. But imagine if you're putting away everything out of that $1000 minus living expenses, and when you graduate, you can then buy yourself a graduation present with everything you saved. Or at least a healthy down payment on one. Keep your current car until the wheels fall off while you save everything you can. That's my two pennies.
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    Try looking at a legacy gt or a forester xt. It's not a wrx but similar platform and you have a good chance of finding one in your price range or cheaper. People on nasioc.com are selling there cars all the time, take a peak over there. You never know what you'll find.

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    Save the money and have fun in college. Get a beater. Get the nice car when you graduate as a celebration gift.

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    Quote Originally Posted by SD_GR View Post
    Yes.

    I think you could not, and am certain you should not, afford the car.
    Ok, I appreciate the reply and the brute honesty, but in my opinion you didn't even read the whole post and the answer wasn't a whole lot helpful. You specifically answered the last question only, when I had a multitude within there.

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    Quote Originally Posted by Mikie13 View Post
    That doesn't sound realistic at all...$1000 a month will not cover your $600 a month car/insurance + living expenses. No way in hell. Gas alone will cost you $100 a month...food on top of that will be more than $100 a month unless you plan to eat Ramen every meal.

    Especially when you transfer and don't have a guaranteed job. You may be smart and have a great work ethic but a job right out of college is not guaranteed. I had friends in the same boat after graduation...who didn't get a job until 6+ months later.


    I just don't believe its a smart choice. I know we all want to have a nice car and enjoy it. But imagine if you're putting away everything out of that $1000 minus living expenses, and when you graduate, you can then buy yourself a graduation present with everything you saved. Or at least a healthy down payment on one. Keep your current car until the wheels fall off while you save everything you can. That's my two pennies.
    Most people are pointing to no, and I get that. Thanks for the reply, but also "Keep in mind I live at home, my parents will support me as long as I get straight A's in college (so far so good). This includes phone bill, food, internet, etc." You're right, there's no way in hell I'd afford to live alone and get a car like this I would never do that.

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    Master Baiter EJ257's Avatar
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    Stick with your current car through school, and buy it when you're finished and have a stable job, place to live. If mom/dad are willing to cosign for you now, they'd likely be willing to later on, as well. As someone who bought their car in college, there were times I somewhat regretted it. This is the last chance you have to "live it up" and have fun before real life / responsibility sets in. Use your income now to have fun, and worry about a fast car later...
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    Wait, finish school. That way you can buy one with everything you want on it, and possibly afford a new one.
    '11 WRX DGM

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    Quote Originally Posted by EJ257 View Post
    Stick with your current car through school, and buy it when you're finished and have a stable job, place to live. If mom/dad are willing to cosign for you now, they'd likely be willing to later on, as well. As someone who bought their car in college, there were times I somewhat regretted it. This is the last chance you have to "live it up" and have fun before real life / responsibility sets in. Use your income now to have fun, and worry about a fast car later...
    Fair enough. Can I ask: Did the times you regretted it outweigh the times you had fun with it? What kind of car did you buy in college? Just wondering Thanks for the reply, I'm leaning towards not getting the car now much more

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    We live in a very unstable country. One or both of your parents could loose their job(s). If that happens you will be screwed. I have worked on the UCSB campus. It is a huge party campus and you stand a good chance of your car getting cosmetically damaged. I see you are saying your parents will pay for everything else, does that mean they are going to pay for entertainment or will you have to cover that? As others have stated you should get another car to get you through college and then get the car you want. Another thing to remember is when it comes time to pay your student loans the interest will be deferred which means when you get out you are paying interest on the entire time you are in college. The smarter choice would be to pay as much of your school as you can and only take out the minimum amount in loans you need.

    I wasn't given that very useful suggestion and didn't know how it all worked. I did 100% student loans and after 2 1/2 years I was up to $15,000 just in my name in loans and $25,000 in my moms name. Well I drove a cheaper car and paid off the student loans in my name 10 years early and the ones in my moms name 12 years early.

  13. #12
    He simply abides. SD_GR's Avatar
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    Quote Originally Posted by CaychO View Post
    Ok, I appreciate the reply and the brute honesty, but in my opinion you didn't even read the whole post and the answer wasn't a whole lot helpful. You specifically answered the last question only, when I had a multitude within there.
    If you don't buy the car the other questions are not relevant. It's a moot point.

    Don't do it.
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    I lied. I cheated. I bribed men to cover the crimes of other men. I am an accessory to murder. But the most damning thing of all... I think I can live with it. And if I had to do it all over again - I would. Benjamin Sisko
    DISCLAIMER: Opinions expressed are the author's alone and are inherently worthless.

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    Thanks everyone, I have decided to not buy the car and save as much as I can. Although I really want the car, I will just tough it out for now. Maybe in the future I won't even want a wrx as it won't be practical anyways (who needs a fast car anyways). I appreciate everyone's response!

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    OK great, good luck and have fun at school.
    WRX Info Links, Courtesy TheJ
    The world breaks everyone and afterward many are strong in the broken places. Ernest Hemingway
    I lied. I cheated. I bribed men to cover the crimes of other men. I am an accessory to murder. But the most damning thing of all... I think I can live with it. And if I had to do it all over again - I would. Benjamin Sisko
    DISCLAIMER: Opinions expressed are the author's alone and are inherently worthless.

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    Master Baiter EJ257's Avatar
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    Quote Originally Posted by CaychO
    Fair enough. Can I ask: Did the times you regretted it outweigh the times you had fun with it? What kind of car did you buy in college? Just wondering Thanks for the reply, I'm leaning towards not getting the car now much more
    The car I have now: 2005 STI.

    Sure, I had fun with my car, but there were a lot of things I look back and wish I did with my money instead (I had a paid off vehicle at the time), and purchased the vehicle when I was more financially stable. While some of my friends would go out, I stayed in. While some friends traveled, I stayed home.

    Quote Originally Posted by CaychO
    Thanks everyone, I have decided to not buy the car and save as much as I can. Although I really want the car, I will just tough it out for now. Maybe in the future I won't even want a wrx as it won't be practical anyways (who needs a fast car anyways). I appreciate everyone's response!
    Good choice! Best of luck on continuing to get good grades and a solid education. Stick around the site, learn what you can, and enjoy the community until you can buy the car you want...
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