hey all-

I just bought a MINI in November of 2005, but, as the summer has come and gone and I haven't saved any money for college, I am thinking of surrendering it, and using some of the money to buy a preowned car. The problem is, my dad has certain requirements: it must have under 50,000 miles and the same or less insurance rate as the MCS. I am thinking of buying a used Nissan Maxima sedan (preferably 02 or later, for around 13-14k, 15 if its nice. Since I have to downgrade I want to upgrade as well. I want a real backseat, and leather, and also to keep it a stick. Since buying it with the MINI I can't imagine having an automatic. Any opinions on my solution? I'll probably load off the MINI for 18-19k, so I'll have about 5-6k left, which should be suitable to last me at least a few years, as it is only spending money. But if there is a car that is quick, cheap, comfortable and safe, also reliable, I think it is the Maxima. Or maybe an Acura? I really don't know. Thanks for the insight people

 

Since your car is quite new (and probably low mileage) you'll probably do OK on the sale. However, I think you're setting your sights a little high on the replacement side of the equation, if you want to get a car with less than 50K miles, and still pocket $5 K or more. Also, don't forget to look into the transaction costs (registration fees, taxes, etc.) before making a final decision.

Good luck!

 

Think its not a bad idea to downsize while going to college. There's always time to get Mini later after college.

 

Not easy to "downsize" from a MINI.

I agree with Snooter. Why not take a hiatus from style and get a low mileage and reliable beater such as a compact Toyota or Honda. College is a great time for contemplating everything but cars.

 

Get a cheap beater for a couple grand and pocket $15k. Spend $5k as you intended, put the extra $10k in the bank and when you get out of college you will be well on your way to buying another new MINI.

After college, you'll be able to sell the beater for about the same price you bought it for, but that Maxima or Acura will be a cheap beater by that time and will be equally worthless.

Your dad's rules may be leading you down the road to a poor financial decision. I'd say to keep the MINI with its warranty and good mileage or get a total beater. Anything in between is going to cost you a lot more over the next 4 years than you probably imagine.

 

BUT...A Nissan Maxima gets terrible gas Mileage. It is also a high maintenance vehicle...(had one of those too in the early 90's...Very Powerful too) It has a great engine and well refined, but Gas will not be going down...Even the Altima is not good on gas!

I THINK YOU CAN TAKE HIGHER GAS PRICES TO THE BANK! In fact I imagine $4 per gallon is not too far off.....

I will get smashed for this....but maybe a Honda or Toyota would be better in terms of practicality (and good resale too). I drive a Honda Element while the Mini is my fun mobile...UGLY Toaster on wheels but is 4 wheel drive, decent mileage, hauls stuff as well as my truck used to, and built to last with little maintenance. Good safety record too!

Too bad about your Mini....but school should come 1st!

 

I'd get a Vespa ...they're really cool.

 

Be careful in what you wind up doing. Yucca Patrol made some really good points in his post. Getting a car with a manual transmission is also a great idea from a fun to drive viewpoint and a long term reliability viewpoint. (People can say whatever they want, but I've had and seen more than enough trouble from automatics over the years.) The downside to the manual Maxima is that in all my years, I've seen exactly ONE Maxima with a manual transmission. It's a 2002 pearl white Maxima SE. Good luck finding it. Maybe there are two or three more in existance, and not just the one I saw.

Another car supposedly available with a manual (never seen one, so I can't verify) is a Lexus IS300. They're very reliable and resale isn't too high, but probably more rare than an "L-88" Corvette.

Rawhyde

 

Are you ok on basic car maintenance, or do you know someone who is?

If yes, then what I'd do is buy an el cheapo pre-computerization vehicle that would be work on-able. Drive the hell out of it for the next 4 years, then turn around and sell it for $100 more than you bought it for. This is what my co-worker did with her VW Rabbit: bought it with 200K, and sold it with almost 400K for a few hundred $ more. Figure on a $1000 investment, pocket the extra, and if things REALLY go down hill with the beater, spend another $1000 for a "new" one.

Do you really want to be an undergrad driving around in someone's grandmother's car? Better to have a clunker that's decent on gas, fixable and, ultimately, character building. I had an '86 Omni in college (until I bought my MINI senior year) -- the thing would diesel so badly that I'd be 1/2 way to my dorm before it stopped running. I LOVED that car.

There is something to be said for driving around in an absurd vehicle for 4 years of one's life.

 

you're in college. get a hatchback or a wagon, something cheap
cheap cheap!!! and a 4 banger. no need for V6.

how about a used Protege5? nimble handling, fun to drive, 5MT available.
also check out used Maz3's. they come in leather too.

the car is going to get banged up on campus. you want extra cargo
space so you can throw in that plastic drawer you just bought at
walmart or watever amongst other things and throw a couple of
your friends in the back so you can stopby for some frozen custard
on the way back to your dorm.

 

I had a Ford Escort about 8 years ago, was a great reliable liitle car. Had it for 4 years, other than oil changes and brake pads, never had a lick of trouble and they can be bought real cheap. Pocket some serious money.(even have a little repair money left over)

 

not only rare, but hideously expensive to repair, and insure.

the IS300 is your insurance agent's wet dream when it comes to premiums, and your insurance adjuster's nightmare when it comes to claims...

 

Today...BP shut down its Alaska pipeline...supplies about 8% of US oil!!! Severe corrosion...

I think my point of higher gas prices will come true IMMEDIATELY and NO refilef in the near future...see CNN article : Looks like a LONG shutdown. Oil futures shooting up!

 

Keep the MINI, join the guard or reserve and have Uncle Sam flip the bill for your college.

 

Getting a used clunker is probably your best bet. That's what lot's of military people stationed in Germany will do. They get an older early 90's or 80's bmw or vw or something along those lines for 1k-2k and then use it for the 2-3 years they are there and then sell it for the same price they paid for it or more. You can get a good get around for no more then 3k and then pocket the rest and save or invest.

 

That will only get him sent to Iraq; not the best of ideas

 

Chances get slimmer if it is the Coast Guard or Air Force :-)

 

We had an inherited Maxima for a couple of years. Fantastic car, but the thing was a crime magnet. Three separate instances and the only time the alarm ever went off was when the darn thing was being serviced.

I have a feeling the ins. rates might be high for those bad boys too, not to mention gas, as it does repay a heavy foot in go-power. Hard car to drive slow...

If you can stand the generic plastic, buy an older Civic or Corolla, save your pennies, and celebrate your graduation with a stylish present to yourself in a few short years.

 

thanks for all the help..i want speed reliability and style, not to mention leather. mayeb the mazdas, but its not JUST MY CAR my dad will be driving it to...so think about for him, and let me know. thanks guys

 

Well, maybe you should see what your father is willing to contribute (presuming you paid for the MINI on your own); since it now appears that he is influencing the discussion/decision....

 

Whoever contributes the most money, I think, makes the decision. If that's your dad, then you probably don't need to worry about it all that much.