Quote:
Originally Posted by The_Blur
I am a college student who will graduate in December 2008. I am seeking employment right now, and I drive a car that I did not choose. I will not get specific on this point.
My 2 dream cars are the Camaro and the Corvette. I love them both. The Corvette is a symbol of performance and prestige, and the Camaro is a legend with functional aspects. They are both glorious machines.
In this catastrophic economic period, I am having a terrible time finding employment with a company that promises any level of upward mobility, job security, or relation to areas that I have experience. It is becoming apparent that I will have to broaden my employment options even further than I already have. I have sent out hundreds of applications and interviewed multiple times in person.  If you know an employer between Topeka and Kansas City, please contact me. I'll owe you. 
In any case, my Camaro SS will be trimmed of features to make it affordable. I like cloth and stripped cars that are made for performance. An older Corvette may not be as fresh or new as a new Camaro, but it will be classic, perform, and turn heads.
Assuming that I don't land a job that earns me what would be necessary to get a Camaro before 2012, should I continue waiting until I can someday get a $30k Camaro, or should I take possession of a slightly used Corvette at a price around $20k after I can afford it?
As a disclaimer, I want to point out that my savings goals are very high. I expect to eat carefully, go out minimally, and work hard. Within reason, I could save a lot of money. I have a lot of ambition when it comes to work, and I've always outperformed my job expectations. My primary concern is that I won't be able to find a job that pays well within a year of graduation, hindering my ability to get a fifth generation Camaro at all. I love this car, and I won't leave this community either way. I just want to get feedback on the possibility of getting something used instead of something new. |
My advice is for you to wait...and I know it will be hard to do as many of the recent grads have a "have it now" mentality; they do not seem to be able to delay gratification. You might be in this group; you might not. Given the economy and time of year, I think you will find obtaining employment difficult. If you are willing to go "anywhere" for a job, then your chances are likely better.
What is your current financial plan? What percentage of your earnings, when you find employment, will go to entertainment (e.g., dinner, movies, lunches, etc.), food, rent (including water, electricity, cable, etc.) clothes (including any dry cleaning expenses), vehicle related costs (e.g., gas, maintenance, insurance, etc.), contributions to a 401k, and savings? Not to mention paying off student loans, if you have any. Paying off your student loans should be one of your top priorities...buying a Camaro should not.