<p>Soooo, you want your parents to finance your education AND finance a car loan to the tune of $350/mo (for how many years??) for a car that will plummet in value the minute you drive it off the lot?? Yes you are correct, you have not been raised the way many of us have raised our children.</p>
<p>OK - Don’t understand why “need” a car for UC</p>
<p>Don’t understand how a lux. car of $40k can be gotten for $350/mo - Are you planning for them to smack down $25k+ as a downpayment?</p>
<p>I sure hope you can afford your lavish lifestyle on your own after college. And your keeping up with the Jones mentality may cause you heartache thru life - best to appreciate your life, not try to live someone else’s.</p>
<p>The way leases work, there is usually a down payment. The more expensive the car and lower the monthly payment for it, the higher the down payment. Also there are limits on how many miles you can drive the thing each year without incurring very hefty surcharges. With the distance you are from the school, you are likely to exceed them as many do.</p>
<p>Then there is the insurance on the car. When you lease, you need full coverage. And unless your parents have some junker they can say you are driving, adding that car to their insurance and owning up that a college kid under 24 is the primary driver is going to do a number to the rates. And if you wreck, lose, or damage the car, the expenses are up there too.</p>
<p>I was hoping this was a ■■■■■ too.</p>
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It’s already a given that they’re going to pay for my education. But I would like if they help finance this car too. They don’t know i want a entry level car yet, but i need a good argument to present to them. This is why I’m here.</p>
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<p>Did it ever dawn on you that this was a lot of money per month? If you think it’s such a “deal”, go get your own car loan and pay the bills yourself. </p>
<p>And you are right, my kids were NOT raised the same as you. Our kids are grateful for whatever they are offered from us, not greedy to the nines. </p>
<p>If you are completing a community college course of study, it should only be another two years for you to complete your bachelors degree. My guess is room and board costs for two years would be less expensive than $40,000. Maybe your parents would be willing to pay for room/board for your UC and you could WALK to your classes.</p>
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<p>Just for the record…a $40K car is NOT an entry level car.</p>
<p>I think you are talking to the wrong group of people. I don’t think you want US talking to your parents about your proposition. </p>
<p>Are your parents very well to do? According to FAFSA, we are, and my kids had to buy their own car. Did you read my little ditty #80 Over the Top Events on the Parents Cafe? I warn folks against getting their kids cars. </p>
<p>You are definitely talking to the wrong crowd here.</p>
<p>$350/month? At 4% for 60 months, you could borrow less than $20,000 for that payment. Stretch the loan period to 72 months (which isn’t really a good idea), and you could borrow $22,500. You’re going to need to put a lot of cash down on your $40,000 car. And, as others have pointed out, with such a car, you’ll pay through the nose for insurance and maintenance. Also premium fuel, which will surely be over $4.00/gallon in California by summer–perhaps as much as $5.00/gallon if things stay so volatile in the Middle East.</p>
<p>But the good news is, at 4.00% interest (if you can get it), and a $350 monthly payment, you can pay back $39,975.86 in only 144 months! If you think you’re getting a $40,000 car for $350/month, you’re on crack.</p>
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<p>Some UCs are in places where you don’t want a car (especially an expensive one that may attract attention from thieves) because it is too much of a hassle to park a car. Most students live nearby and walk, bicycle, or use public transportation to school.</p>
<p>If you do need a car, a $14,900 Hyundai Elantra, $13,300 Kia Soul, or $5,000 used Ford Focus will do the job just as well as a $40,000 luxury car. Or you may get the hand-me-down from your parents when they buy themselves a new car. As long as it is reliable and safe and not too thirsty or expensive to run, be grateful for that.</p>
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<p>Ah but it’s hard to “keep up with the Jones’s” with a used Focus :)</p>
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<p>I wonder how many of the people posting here would not even spend $40,000 on their own cars, because they can get perfectly suitable cars for a lot less money.</p>
<p>I know I would not, given how good so many much less expensive cars are these days.</p>
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<p>In a typical southern California traffic jam, an old Focus moves just as well as the Jones’ new $40,000 car…</p>
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<p>Don’t be too hasty, ucbalumnus. You don’t want to cut yourself off from “more job opportunities” or “wider social interactions.”</p>
<p>Well, I just told everyone what I drive. And we only own the one car. He’s on the wrong board here.</p>
<p>Also, friends of ours, young man has been my son’s close friend since he was 7, got their wonderful son a car, used, not $40k or even close because he is an only child, they can afford it and they did not to continue driving him to school==he has an internship this last term. All good reasons for buying the car. The car was stolen just last month. Yes, it’s a university area, and a high car theft area, but so many cars park there every day. Shook up my son who bought his own car and on the rare occasion he drives into school parks in the same area. He now goes into the parking garage in the rarer occasions he drives, and has to pay the $10 flat parking fee. He’s learning quickly that the cost of the car does not end with paying for it as he paid cash for his. The insurance, the maintenance, the gas and now the parking and care are getting to him.</p>
<p>I appreciate all of your honesty, but i sense a bit of jealousy. I value the fact you all are humble and live frugally, but I’m young and want to enjoy life. What’s wrong with driving a luxury car at a young age? You only live once, and i want to make the most out of my youth.</p>
<p>Too funny. Have you taken any finance classes yet in college? Sure, no doubt lots of people would love to drive an overpriced status-mobile at a young age. But can you pay for it? If not, fuggeddaboutit.</p>
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<p>Let me make something VERY clear here. If I wanted to, I COULD buy myself a luxury car. I’m not at all “jealous” of your situation. To be honest, you sound a bit entitled to me. But that is my opinion.</p>
<p>I see nothing wrong with driving whatever car YOU can afford to buy. What I have a problem with is you want to know how to get your PARENTS to buy you such a car. If YOU can afford this luxury vehicle, then go for it. If your parents are WILLING to buy you this car, then go for it. If it’s just for the STATUS of owning it (because you think everyone else has it…or you think this will make a difference in your life), then personally I think you are very misinformed…and yes…entitled.</p>
<p>I think what you sense is not jealousy, but disapproval. You seem fixated on a status symbol–a bad status symbol that will lose both monetary value and prestige over time, and be worth nothing by the time you’re 30–and very free with your parents’ money.</p>
<p>(Cross-posted with both jym and thumper.)</p>
<p>cptofthehouse: Re post #57-- One of my neighbors drives a $100K sports car, bought for her by her investment banker son. I guess she must be a better parent than either of us! ;)</p>
<p>I really hope this is a ■■■■■.</p>
<p>sopranomom-
A tesla??? I want one!! Can I adopt that kid??</p>