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Hi I'm David

Recently got into an accident in my 08 mazda3 touring and totaled it.
Always loved the new challengers. The v6 seems so out of place when I drove the 2011s. Any reason I should wait for 2012s or should I try to get a year end deal?

Here is the situation: I've been in a loan since 98 $280-425 per month with no gaps really and I'd love to know what a new car without a payment is like for the first time. What's life without a payment like?

I liked my mazda, nothing special but good gas, looked decent and could hook up my iphone.

Insurance gave me $16k and I can't bear to buy a used car with that kind of starting point. Only thing is I had 2 $425 payments left and I would have owned it free and clear with 40k miles in excellent condition.

It makes me reluctant to get in another loan since I almost tasted freedom with a car that got 32 mpg HWY but thats not too big a deal since I work 8 miles away.

I drove the R/T after the 6 and damn, I haven't giggled like that since my 88 5.0 camaro when i was 17/18 and maybe not even then.

I gross $60k a year so I can afford the car, especially at year end discounts.

The wild me wants to be irresponsible and buy something I like as opposed to a decent a-b car that isnt cheap. I'm 31 today and I could be married with kids in 5 years and Have $20k in the bank and no real debts aside from $1k I nickel and dime irs on purpose.

My sensible and conservative side seems more dominant and useful for long term goals. (* bought a 96 used v6 stang = weak, 2001 =new kia rio =weak, 2005 elantra =weak and 2008 Mazda3 touring = Happiest so far all around but it's a girls car.

So almost 13 years and at least $27k in depreciation later I'm here at 31 with insurance money and no vehicle.

Child me says = That car is bad ass and I could put 16k down and finance 2-3 years. This though puts me in a loan for 16 years straight almost (ugh) to and from work gas will cost me $219 more a year from $603 @ 8.7 miles a day each way to $822, not counting weekend and fun driving. I'm a homebody but I run around with a lot of girls. Don't need a car to get women, I got one here with the 88' beater camry I borrowed after my rental expired. Also The insurance is $350 more a year from $1050 to $1400 so I estimate 1k a year more or about $2.75 a day more than what I have usually paid but I live in an apartment and the R/t wouldn't fit in my carport so it would remain uncovered. They seem to hold value well for v6 and v8 and cost of ownership is reasonable to the purchase price. Is this my only chance for a toy before i start a family? is the extra money worth my satisfaction? maybe it seems like it today. That ride is bad ass but so is a maybach and I'm not saving for one of those.

Conservative me: I feel like $16k while keeping $20k in my bank could get me to the next level of cars permanently. If I sell it or crash it for $20k I can always finance a new $30k car where as a $20k car will go to $10. It's like a payday loan cycle. I'll just buy a $20k economy whatever because my instinct is to do the right thing. As you can see I was always trying to save money in the long run but my choices in crappier cars for a better deal resulted in bad resale values and a car that gets salvages for a bent rim, which buying the wrong car cost me more money. Only my mazda held good value and the elantra paid for the loan. Non of my damn cars seem to get past 3 years its like a curse. I could go buy a new $16-20K car cash and pay a small loan back to myself of $333 a month for a year on a focus or cruze or something and get 40mpg and be done with payments. Of course my gas will lower but my insurance will slighty raise with these cars because of a newer model year a 2012 focus would only cost me $475 gas to work where the mazda was $603 and R/T is $822 with gas being prices at $4 a gallon. With possible $5 gallons of gas should I be looking at a guzzler that gets almost half mpg as a $10k cheaper car because I think it's bad ass? Gas could be $7 by the time my 2-3 year loan is done. It's only going to go higher in the long run so they can get these gas hogs off the road. Even the conservative me would enjoy this car. I'd also enjoy no payments and better mpg but hell thats what benz have too. I don't have a garage to store an r/t. I'm saving for a house. Really expensive here in the Sf bay area. Or I could stack my insurance money and go into a low interest 1.9% or 0% from ford with a 5k down and Put $10k in the bank. Though I stacked $30k with the $425 car payment, $100 insurance every month on a three year loan so it wouldn't slow me down that much. At what point does want and like justify need and practicality? a $10k more car has $10k more cost of ownership over 5 years. My child side says **** it and get something for once in your life but the sensible me says pay cash and be down with it. I'd rather look at my crappy car from the window of a nice house then look at a crappy house through the window of a nice car. I do need a decent looking and running vehicle. It's easier to deal with when you've dealt with the constant used buying jimmy rigging this dont work right bull****. A used car at 15 can cost me 17 if the tranny dies in a year and at that point I should have bought a new $17k car with a warranty, new cars last longer. I always intend to run my cars to the ground, it just happens sooner than I expect it.

Conservative = Any car good gas 40mpg $20k cash
Wild= r/t with $16k down and 2-3 years of $4-500 payments while paying higher gas and insurance while the price of gas is rising and on a stupid investment like a car.

$16-$20k get me a nicer used car but it's not worth the BS. I was was going to spend 5-10k then used is ok, at that price i can tolerate some bull but I really dont want to.

Obviously I need a car now, I'm not sure if I can borrow this car until september challenger releases. could buy a $1k beater to hold me over but even by then I may get the 2011 to save $ when they are clearing lots and I may not save enough to pay for my beater or I may save more.

What would the 2012 have anymore than a 2011 would? I'm not an enthusiast but i'd be pissed if they did the interior like the charger a month after i got a 2011 and came out like that. Thanks for all of your help and opinions-David
 

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Do what feels right for you , no payments is very nice esp. in this economy. things could change on a dime for you. hey then again i bought my first newcar when i was 19 years old, Dodge charger 440 magnum RT.
 

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At first I was gonna say get a clear out priced 2011 come fall.
But after you said you live in an apt. with unprotected parking I'm gonna say just get a beater with no payment.
You will fall in love with an R/T and it will piss you off everytime some boob puts a door ding in it. Also these cars are prime for vandels, jealous ex-girlfriends and have nots.
Just my opinion:)
If you do get an R/T:bigthumb: and welcome to the fold.
 

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I was out of a loan on my 4 year old Civic with 44k on it. For about a week. Insurance went up ~$10 a month, mileage went from high 30's to high teens, time and money spent on cleaning skyrocketed. I do not regret my decision at all. :)
 

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enjoy your life now!!!!! If you get married in a couple of years you will at least have had the opportunity of enjoying one of these cars for a few years. Then you can get all responsible and buy your minivan with the trade in of the challenger, especially since they hold their value pretty well. Who knows you may be tired of it by then (although I highly doubt it). I say go for it and don't worry about the future, no regrets here and i'm paying almost $700 a month to own this thing lol.
 

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I would buy a house now if I was in your situation. Prices aren't likely to get much lower and neither are interest rates. You'll be able to buy a Challenger down-the-road. Even if they go out of production in 2014 there will still be plenty on the used market for a long time to come.
 

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My opinion is try to find a 2010 new left over SE, not too bad on gas and if its a base with the rebate of 3K and at least 2K off from the dealer you should be under 20K. Good dependable vehicle with 100K warranty.
 

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One other thing to remember...

We all only go around this big blue ball once. Be confident you won't regret whichever decision you make. One of my dad's only regrets in life that he voiced was selling his '64 Impala convertible because he didn't feel it was a practical family car in the late 70s.
 

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why wait until 2012??? i dont see the financial advantage

id look for a left over 2010 for $10k off...there's not much difference between 2010,2011 and 2012
 

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If you are looking for the most financially sound decision, I agree with Slosh buy a house.

Otherwise, scour the Internet for a '10 R/T that could be sitting on some dealers lot.

Planning for the future is important. But so is balance and you live in the moment.
 

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hmm, the prudent thing to do would be to buy a $2000 car and not just buy a house, but buy a two flat. Live in one half and rent the other half out.
 

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I am not sure if you explained yourself well enough.........I need more information on your situation......J/K

I agree with buying a house, or condo . And get a roommate to help pay your mortgage. Then finance your R/T. In the meantime keep borrowing that car, its free.
 
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