Can I afford a Mini Cooper?

[Herbsinator]

Re: Can I afford a Mini Cooper?

well this was a definite buzz kill. oh well thanks for taking the time fellas.

ps to everybody who thinks i can't get shi_ for my volvo: when i sell it for over 4k i'll make a thread about it.

Yeah, I guess if you sold it to an absolute fool.

[Tha Dynasty]

Re: Can I afford a Mini Cooper?

people around here really seem to know about anything and everything.. so i figured i could get some straightforward answers.. anywho i'm really wanting to buy a mini cooper.. it'll prolly be used but still either 2002-2005 models.

ok so here's my question: how much down would i need to put down if i wanted to pay $250 a month? I also have a 1994 volvo which was bought for 4,000.. and am assuming i could resell that for at least 4,000.

-i've looked around a little online and saw that there are plenty of mini's priced around $20K at dealers.
-I am in college, and work part time making roughly $800 a month.
-I live at home.. i don't pay for anything basically so i really believe i can save if i put my mind to it.
-I don't really have any credit, i do have a gap card and a macys card that I always pay on time.

is buying a mini cooper from a dealer even possible for me? i've talked to my mother but she seems to just think i wouldn't be able to afford it. but i want some other opinions. any response would be greatly welcomed!

just to add...i dont think it's a right time for you to be buying a brand new car...your still living at home and going to college which means you probably don't have much money and cars will kill you in the long run like most people say. if your volvo is worth 4g i would just stick with the volvo if i was you

edit: BTW you never said what model your Volvo was...

[GAMEC0CK2002]

Re: Can I afford a Mini Cooper?

just to add...i dont think it's a right time for you to be buying a brand new car...your still living at home and going to college which means you probably don't have much money and cars will kill you in the long run like most people say. if your volvo is worth 4g i would just stick with the volvo if i was you

edit: BTW you never said what model your Volvo was...

Not to mention the added expenses of insurance and periodic maintenance. Also you'd need contingency money just in case/when random stuff happens....flat tire, automatic window stops working, A/C goes out, etc.

[ex carrabba fan]

Re: Can I afford a Mini Cooper?

edit: BTW you never said what model your Volvo was...

http://autos.yahoo.com/kbb/report.html?ee=5GE&dr=-FW&tr=ATT&mi=133%2C000&eq=-AC&eq=-CC&eq=-PL&eq=-PS&eq=-PW&eq=-RA&eq=-RC&eq=-TW&eq=-AB&eq=AW&eq=LR&eq=SA&eq=SB&eq=SS&eq=-DB&cn=4&tp=0&mc=VO&mk=Volvo&mo=850&st=CA&tc=C1&tn=Sedan+4D&yr=1994&zip=90712&submit=Continue

i'm pretty confident i'll get at least 3800 at the very least. anywho thanks to those who chimed in.

[WTF]

Re: Can I afford a Mini Cooper?

I know I'm a bit late, but I used to manage the internet sales department at a large automotive complex... and here's the rule of thumb about a car payment and what to expect.

For every $1,000 you spend, you can expect a $24 payment. So, if you spend $10,000, your payment will be around $240 per month. If you spend $20,000, payment will be $480 per month. If you spend $15,000, you are looking at a $360 payment per month, and so on.

Of course, your downpayment will have effect on this, so just calculate how much you'd be financing, and do the above formula. Like the other guys have said, I'd really wait if your car is dependable. While a new car does seem intriguing, it may not be the most practical decision right now. If your parent's are going to make the payments, or help with the payments, sit down and talk with them and meet in the middle.

Good luck

[fishepa]

Re: Can I afford a Mini Cooper?

I would never buy a mini cooper just because you would die if you ever got in an accident.

[ExtremeGamer]

Re: Can I afford a Mini Cooper?

I would never buy a mini cooper just because you would die if you ever got in an accident.

It's a coffin on wheels.

[Tha Dynasty]

Re: Can I afford a Mini Cooper?

http://autos.yahoo.com/kbb/report.ht...ubmit=Continue

i'm pretty confident i'll get at least 3800 at the very least. anywho thanks to those who chimed in.

ahhhh i see...850. My brother had the Volvo 850 t5R. Personally I really like that car. But just because blue book says 2800 doesnt mean you will get 2800. Unless you reel in somebody that is desperate or a sucker you wont sell blue book price. think about it...buyers will use the blue book price as their "limit price" they will talk it down.

[jpup]

Re: Can I afford a Mini Cooper?

the question is, why would you want to?

[ex carrabba fan]

Re: Can I afford a Mini Cooper?

ahhhh i see...850. My brother had the Volvo 850 t5R. Personally I really like that car. But just because blue book says 2800 doesnt mean you will get 2800. Unless you reel in somebody that is desperate or a sucker you wont sell blue book price. think about it...buyers will use the blue book price as their "limit price" they will talk it down.

i really like the car too..

i know SOMEBODY out here will fork over close to the bluebook private price.. the car is in damn good condition, everything looks new. either way i'm not desparate to find a buyer anytime soon, i am willing to wait awhile.

i'm just surprised so many are under the belief that i won't be able to find at least ONE person in the southern half of california to pay close to what the car is actually worth. there's tons of fools out there..

[SoMiss2000]

Re: Can I afford a Mini Cooper?

It's a coffin on wheels.

more like a motorcycle with a hood on it.

[forensicd]

Re: Can I afford a Mini Cooper?

You also have to look into how much foreign cars are to fix. I have a newer bmw 5 series that i recently had to get serviced. Normally, a domestic car is pretty cheap to fix, but mine cost me over 1000 just to get a few small things fixed. Then, just getting yearly service will cost you another 700-1000. They dont tell you that when you buy them, trust me.

[GAMEC0CK2002]

Re: Can I afford a Mini Cooper?

You also have to look into how much foreign cars are to fix. I have a newer bmw 5 series that i recently had to get serviced. Normally, a domestic car is pretty cheap to fix, but mine cost me over 1000 just to get a few small things fixed. Then, just getting yearly service will cost you another 700-1000. They dont tell you that when you buy them, trust me.

Yep. The gift that keeps on giving.