I had written a whole long post a couple of days ago about this and saved it as a draft but @austinmshauri said it all above. OP seems completely clueless about why his problems are different from others’ and why it’s insensitive to complain to these particular friends.
OP, for perspective: my boyfriend depends on his 25 year old car (at least we don’t need to pay for inspections because it’s technically antique in his state) to get to his work an hour away from where we live every day (we live close to a stop for my school’s shuttle). The difference in cost between the two cars you mentioned is 3/4 of his stipend for the entire year, and the total cost of the new car is one and a half times what we will make together in a year; I go to one of the best-funded graduate institutions in the world and have one of the highest stipends I’ve seen available. Your university’s president likely had a similar experience when they were a graduate student and probably won’t appreciate some college sophomore with cash to burn taking their spot.
@jym626 They offered me 35k for it and yes it was brand new when I got it in HS, had 2 miles on the odometer as it sat on the showroom floor. As for @doschicos, the XC90 in question has all the options selected apart from the small accessories (Cargo cover, roof rack, etc). Originally it stickered for around 85k due to it being a special order but because it sat around, I managed to get it down to 76k. Also, it’s a T8 Model so it starts at a higher price than normal T6 model.
Also, @austinmshauri I did volunteer in my community and boy did it make me appreciate my car even more. I was at a high school helping with the FAFSA applications event and the teens I was helping were complaining about all sorts of things and I was just flabbergasted by some of their complaints. Some of them complained of their keys being broken, central locking not working, etc. I definitely appreciated my car much more when I have push to start instead of turn to start.
Yeah, I know very well what the T8 is. You’re still paying too much at $76K. Sticker price is meaningless.
Well @doschicos , how much do you think I should have paid?
You helped with FAFSA applications meaning you possibly saw other families’ financial information? That’s hard to believe.
And the loan on the new car is more than the trade in on the old (well its not old, but…) car?
Have you already bought it? You’re using past tense.
This whole thread is unbelievable.
@jym626 I didn’t see their information. It was a general school event that showed parents how to input the information and calculate numbers. And @doschicos , I mean I should pay not have paid. I typed a tad bit too quickly.
@momofsenior1 I agree with you especially about the comments earlier. I asked for simple advice and nearly got my head kicked in. Well anyway, you just gotta take a neutral stance on things you know.
Is it even legal to drive a car with over 19,000 miles on it ?
Agree with doschicos. You have more research to do OP, for example here: https://www.cargurus.com/Cars/2019-Volvo-XC90-Price-c27792
This data may vary based on geography, but you can get a sense for average discount off MSRP and list…still looks like you are paying too much. I am sure you can find more average cost data on the web.
I am going to continue to believe this entire thread isn’t real, if not, I truly wonder how someone can be so tone deaf, especially after receiving the consistent feedback on this thread. Any high school student who has access to a car, even one with central locking not working, is privileged. Please save your flabbergasted-ness for the students at your school, and others in the surrounding community, who aren’t getting enough to eat. They are there right in front of you, every day.
$70-72K max depending on the trim package and accessories.
@doschicos That’s great news then, I’m only off by 4k. Maybe I can haggle down further to that area with the dealer. And @Mwfan1921 well during the school year I definitely got a lot of glares just driving my 17’ Volvo. I can already see the flood of pure hatred when the 17’ morphs into a 19’. I am quite concerned about the safety of my vehicle though. That is one my biggest concerns since jealousy is unfortunately married to misery and those things are a recipe for having a brick thrown through my window.
No school that I’ve ever heard of gets this intimately involved with parents’ financial information. Even if it were true, the most you got out of the event was appreciation for a push start ignition system instead of a key based one?
I certainly hope nobody throws a brick through your window, but with your attitude I can assure you that if they did, it wouldn’t be out jealousy.
@austinmshauri Well I guess this one wanted to help families fill out their FAFSA correctly, I just happened to participate in the volunteer work. And no I got more out of it, I saw some stuff that I never really encountered and saw how much I couldn’t relate to their problems. I’m saying that because I feel like I’ve been blessed to not have those problems basically. And what do you mean it wouldn’t be out of jealousy? I didn’t anyone wrong nor stole from anyone or done bad things to others so I don’t see any other reason that a person would use to perform an act of wanton vandalism.
I was going to look up the blue book value of the trade in (KBB, truecar, Edmunds, etc) but it occurred to me that if the OP kept his/her (probably his) car the maintenance would come out of their allowance, whereas a new car with an extended service warranty is paid for by parents with the car note. So there seems to be no real incentive to save parents any money, just to save what comes out of one’s own pocket and drive a flashy new car.
@jym626 actually, I’ll be the one paying the car note since I was the one that suggested the idea. They’re okay with the purchase so long as they only pay for the insurance and nothing else. I’m happy because they end up not having a say in which car I purchase. More freedom for me to choose.
Sorry, but that makes no sense. You were not wanting to pay a possible future $300 service cost. How are you going to pay for a monthly car note? And if you have no problem paying the multi-year car note, why did you care a whit about the potential service cost? As I said earlier, you could have simply purchased an extended warranty for the big expenses. Not sure if they would cover the oil change, etc. But you don’t have to do that at the dealership.
Well I was thinking since paying $300 towards keeping an older car running vs paying a monthly note towards a new car is the current comparison, at least paying towards a new car gives me the newer car in the long run. Also, can you really trust non-Volvo specialists to work on the vehicle? I heard someones XC90 got bricked at a jiffy lube because they hooked into the computer connection and fried the ECU.
What is your major? (Am guessing not Economics or finance, LOL). And can we assume you will have no student loans after college? Any grad/professional school plans?