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      10-29-2012, 08:25 PM   #28
First Lieutenant
kcdedric's Avatar

Drives: Z4MC
Join Date: Apr 2011
Location: Santa Barbara

iTrader: (5)

I'll chime in here because I was in a similar situation. I started out with a 1994 325i as my first car. I always kept it pristine as a thank you to my parents for buying it for me in the first place.

After completing nearly two years of college and proving to my parents that I could maintain good grades while holding a part-time job that would cover my car payments (~$1k/mo then), they gave me the go ahead to search for a car that was in a specific budget that I clearly detailed out for them. My payment had to be $450/mo or less and I had to cover insurance (under parents' names) and my gas. Ended up financing my car for 60 months @ 5% with $12k down (which came from my parents letting me use the $5k I got for selling my E36 plus $7k I scraped together from saving over the years and selling nearly everything I had that was worth something).

I couldn't ask for better parents for trusting me with the responsibility of a $33k car after just turning 20 . Since I've owned my car, I have had to sacrifice a lot...saying no to friends wanting to go to concerts, eating very cheaply, hardly buying any clothes, etc. Looking back a year and a half later, was it worth it? UNDOUBTEDLY yes! I don't really intend on selling my car (only trade would be a GT3RS), so having to spend the money now doesn't bother me at all.

Bottom line: If you're dedicated, willing to make sacrifices to stay above water financially, and convinced you have to have it then don't let anyone hold you back. Just make sure you don't regret it.
Space Gray/Imola '08 M Coupe - SOLD