<p>Save the money. SF IS a walking + public transportation city. Gas prices in SF are currently $3.50/gallon +. Parking is impossible and very pricey. When you are older if you want to live in SF, you’ll probably move to an outlying area (e.g., “on the avenues”) - where you can own or rent a house with a garage and a car makes a lot of sense, but when you are young with your first job you may choose to live in a more centrally located apartment building where parking will not be available or will be very expensive. Bus & streetcar/metro service all over the city is pretty good. My son never had a car while living in the city and usually walked to work, and at various times lived all over the city. Between the cost of gas, plus parking, plus city traffic, plus insurance - vehicle ownership is one of those wait-and-see issues – you wait until you really need it.</p>
<p>Suze: Yeah! Haha.</p>
<p>I definitely want to invest the money. It looks like mutual funds or CDs are the way to go.</p>
<p>The current Prius does not get close to 90 mpg. But I’m waiting for third generation (expected out anywhere between 2008-2010), which is supposed to really turn heads (even with the new EPA guidelines). But since I’ve decided not to even bother with it, we can probably put that to rest :).</p>
<p>Owning a car in SF is tough. Parking is rare and expensive. It’s no fun to drive in the city, but public transit is readily available. I’d say wait until after you move to SF to decide if you have need for a car, and a place to put it.</p>
<p>DW and I lived in SF five years. Take the cash and public transportation. A small motorcyle is very handy in-city if you’re a bit of a risk-taker (though in all honesty it’s probably less risky than investing in Google or International stocks!). And as others have suggested, rent a car for out-of-town weekends.</p>
<p>save the money</p>
<p>If you do end up in SF after graduation, there is an option for the few times when a car is better than public transport (I do admit that I haven’t tried this service, though I know people who use it in other cities)
<a href=“How it works? Peer-to-peer car rental - Getaround”>How it works? Peer-to-peer car rental - Getaround;
It’s a cheap car share/rental program. You don’t have to worry about insurance and monthly parking fees just in case you want to go to Napa or visit the redwoods.
And for those considering a cute little scooter - know where and how you will work on it when it needs tune-ups and battery charges. They’re fun but the less you use them the greater the proportion of time spent keeping the things running.</p>
<p>Rent the property at a rent that will cover the mortgage and taxes and maintenance.</p>
<p>I guess this is the upcoming Prius you’re talking about -
<a href=“http://www.popularmechanics.com/automotive/new_cars/4212545.html[/url]”>http://www.popularmechanics.com/automotive/new_cars/4212545.html</a></p>
<p>It’ll be interesting to see what materializes.</p>
<p>I agree w/ suze. Or, invest in a relatively conservate mutual fund, which will have higher returns but a somewhat higher risk. Don’t go with individual stocks. You should see if you can get any recommendations of a financial/investments person from anyone you know (parents, or other individual you’d expect to have investments). I’d go with a name brand guy, or get CDs via a big bank.</p>
<p>LOL, by the way. We had the same deal with D. But, she much preferred going to UMCP (OOS), than our outstanding in-state option. But hey–it’s a better fit for her, and her decision! She’ll have to deal with having a slightly dented old Honda Civic for a while!!!</p>
<p>I agree with suze…long term cd or high yield money market account. I have one through Capital One. Interest rate is similar to long term cd and cash is totally liquid. Look at costco.com for services…</p>
<p>Ask for the cash and buy a cheap used car and put the rest in savings. Insurance rates in San Francisco are exorbitant (I know, I had to pay it when 2 kids were in college there and sharing a car). A new car in San Francisco will cost so much in insurance it would not be worth getting a new car. Buy one where you only need to get liability. The other thing you have to understand is that in San Francisco and the bay area in general your beautiful new car will get bunged up right away (too many cars in too little space). </p>
<p>San Francisco and the whole bay area has great public transportation, but not so good that you won’t want a car to go to the grocery store, etc.</p>
<p>You can give it to me! :)</p>
<p>Har har har.</p>
<p>:P.</p>
<p>Definitely agree with all those who say:
- SF is a walking and public transit city (I lived there several years).
- Take the money and save/invest.
- When you need a car, do as WashDad says - buy a used one. No one “needs” a new car. You can have your cake and eat it, too. A decent used car when you need one (let some other sucker enjoy the huge depreciation the moment you drive it off the lot), and a nice wad of savings for various more important uses.</p>
<p>Good luck.</p>
<p>^Nobody needs a new car, but the hybrid was pretty enticing at one point. I have a station wagon that gets decent gas mileage, and yet I end up using most of the money I make paying to fill it up (I’m just driving back and forth to school and ECs)! But it’s awesome SF has good transit. That eliminates that problem entirely :D.</p>
<p>The consensus is one investment…So INVEST.</p>
<p>Yup, I pretty much decided that by about the second post :D.</p>
<p>I’m just not sure how to invest it. I guess either a T-Bill or CD would have the highest interest rates.</p>
<p>it depends on the time frame you have in mind. You have 2 types of risk: inflation risk(CD) and market risk(stock). But in a really long haul, investing in stock market seems to be better.</p>
<p>I don’t know if you qualify for any finaid, but if so having the money in a car will be invisible to the aid formulas, while investing it otherwise will not</p>