New or Used: Ladies Love Cool Cobalt Edition

Brandon writes:

Guys, I need some help. In the summer of 2008 with gas prices going up and having a decent bank account due to high school graduation money, I sold my 1989 Prelude Si and bought a brand new Cobalt LS stripper (roll up windows, manual locks and all) to have a more economical and reliable ride since I was going off to college near DC and would regularly travel 350+ miles a weekend. 2 years later I loathe the car and wish for something else, but something fun and practical that I can keep for at least 5 or 6 years until I’ve got a full time job income coming in for sure. I’ll be 21 in a month so insurance price are still a concern, but I’ve got a pretty good income and stable job for a college student.

My problem is I like too many cars and I can’t pin down one I love. A 2009 Cobalt SS might actually be perfect for my situation but I’m afraid of going with a used car that’s got a turbo/supercharger. I’d like a manual transmission, compact to midsize coupe, but I could do a 4 door for a BMW 3 series or Accord sedan. I did love my Honda and would be very open to a Civic Si if you guys have a favorable opinion of them, and did dream of the RSX when I was in high school but they seem over priced in the used market. My requirements include the need for it to have a fairly reliable reputation or at least be easy to fix by a former mechanic who has most non-metric tools and a few for working on the old Prelude. Also one more thing to keep in mind is I do still travel about 350 miles a week between school and work, and make a trip from DC to Buffalo, NY by driving at least every other month so gas mileage in the high 20’s/low 30’s is important (I average 34 in the Cobalt). My budget is around $19,000-$20,000 since after trade ins and down payments it should cost me less than $321 a month (what the Cobalt does now) but as I said earlier, I just want a car thats economical, comfortable, fun to drive, and can easily last me until Im a married man and end up having to get the Sonata Turbo to please the wife.

Thanks for any help, gentlemen!

Steve Answers:

What do you hate the Cobalt? The seats? The radio? The lack of features? You are seemingly unhappy with the vehicle and yet you want…another Cobalt?

If you are looking to have more power don’t even bother. You are a highway driver and the $$$ lost on a financed vehicle will cost you far more in the long run than a little extra oomph for the upward inclines.

If you would like better seats, a ritzier interior, and a wonderful stereo system… well now you’re headed in the right direction. I would find some good SS seats from a junkyard. From there you can go on Ebay or a Cobalt enthusiast site and find some fun play things for the interior.

Put in a nice GPS, top quality tires and struts, and a really nice stereo system and… you’re done for about an eighth the cost of a new vehicle. If you already like the Cobalt enough to look at another one, chances are this one can be equipped with everything you need and desire. It is a Cobalt after all.

One other thing. You may get a really nasty reality check if or when you decide to sell your car. The ‘books’ rarely reflect the real market value of cars that were overpopulated at the rental counters. Your model in 2006 filled in a void that was left by the Chevy Malibu ‘Classic’ and it was filled by making the Cobalt as common as sub-prime loans. Speaking of which at 21 years old you should be a far away from debt as possible. Hit the books, save your money, and quit jonesing over the superficial BS.

Sajeev Answers:

Steve’s last comment is my main concern. You’re 21 years old and about to justify a purchase because you can afford the payments (@ $321 a month) on a new car just like your current, crappy, Cobalt. This particular “cycle of debt” sounds both avoidable and wholly necessary.

You’re single with a part time college gig, so your real earning years are ahead of you. Why are you prolonging debt, pissing money away on a car you won’t even like (Cobalt SS) or cannot use when you get married? Now is the time to make a new best friend on wheels, something that personifies your free (financial) spirit but might actually be worth keeping when you have reason to be knee-deep in debt.

My advice: keep your Cobalt or sell it for a superior shitbox: a 3-5 year old Honda Civic (sedan) that’ll tone down your current loan (which must be full of negative equity, considering the vehicle) to get you closer to being car payment free. Buy some service manuals and be friends with local Civic fans from a forum, they’ll fix up your Civic for next to nothing, out of sheer camaraderie.

Take it from the guy with a payment-free garage; women appreciate men in a respectable financial position. Plus, be a sharp dresser: money on nice threads is far more important than a car payment right now.

Need help with a car buying conundrum? Email your particulars to mehta@ttac.com, and let TTAC’s collective wisdom make the decision easier… or possibly much, much harder.