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If you are under the age of 25 - Do you own a Mazda 3?

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Discussion Starter #1
Hey guys, as some of you know I am 22 and I want to lease a Mazda 3 Sport.

I just told my dad and he obviously doesn't think it is financialy wise, therefore he won't support me in my desicision. But he did ask me a question that I wanted to ask you guys.

How much people are under the age of 25 and own (includes lease, purchase, financing) a Mazda 3?

I will make a poll.



Thanks guys!
 

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I got my 1st car at the age of 26. It was a 3000$ 1991 Mazda Protege. I then leased a brand new 2000 Protege a year later. That was my 1st real car I guess. However, I have a co-worker at home that was financing a Honda Prelude at the age of 22. Then again, his dad is wealthy, so I guess it doesn't count. His insurance alone was 3000$ a year. Crazy.
 

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I am 23 (24 in July), and I will own my own Mazda3 in a little over a month, with no help from my parents. I do have to continue paying off about $2500 of the $4500 my mom lent me for my current car in September 03. I have saved about $3000 since October, along with paying my mom $400/month for my Contour. I am also paying my own insurance. I was lucky though, when I was in college, my dad paid my insurance for me, and let me use a used car of his.

It's funny, at first my dad didn't think it was a wise financial decision either, but I think he has been secretly researching the Mazda3 as he does know alittle bit about it when I talk to him about my test drives etc.. My mom thinks the car is great and supports the decision, despite me still owing her $$.

Good Luck!
 

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i am 24, 25 in may. been out of college since 2001. i saved up about $5000 for a down payment, and sold my 95 civic (which i bought for $11,700 in 97) for $3700, which i am using to pay down the balance of the loan. no help from parents.
 

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I turned 18 last November and got the Mazda 3 shortly after. I pay for everything on my car, insurance is almost $6000 a year with a perfect driving record. I pay the same amount of money to drive my car each year as my uncle who drives a BMW Z3 due to the insurance difference.

Question is, are you the one who is going to be paying for this vehicle? If so I don't know why you are asking for advice because it is your money and you should do whatever you want with it, not your dads choice.

If your dad is forking over money for you to drive a brand new car, be thankful if the thing is a Cavalier :D
 

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I'm 21, finishing university and plan on buying one as soon as I get out. Of course, I have a job lined up (well, almost sure I do), so I should be able to afford it no problem.
 

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I'm almost 22 and financed myself a mazda 3 & paying it myself
The only diff is its under my dads name mainly for insurance purposes


Unless you have a kick ass job it will be real hard for you to buy/lease that car under your own name. Dealers can be very picky with that

Goodluck
 

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I'm 22, I drive a Mazda3, and while I'll be paying it off for years, I'm doing it with no help. I'm on my parents' insurance policy, but I pay the whole amount, and I plan on paying off my car early. The loan is for 5 years, but I plan to pay it off in 3, assuming I can stop spending money to make the car even nicer (tint, speaker upgrades are on my agenda). It's all a matter of being able to pay for it, and everything else you need to pay for, as well as having a cushion for rainy days.
 

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I have a couple of thoughts about this one...

Why is your dad not supporting your decision to purchase/lease the 3?

I am 26 now and was in the same situation when I was in school 4 years ago. I so badly wanted to buy a Civic siR (older body style, si in the states I think... 160hp). Anyway, he thought that the lease rate was too high and would kill me.

He would only co-sign if I went with his choice.... a crappy 2000 Neon LX, new at the time. Well, here I am 4 years and 2 months later, buying a new car and ditching the 'ol neon.

Considering that I leased, I had 2 options with the car - give it back or buy it out. My work related travel brought my clicks to a whopping 175000km. Would have cost me over $7k to give back with the high KM. Instead, I bought it out (over $9k after tax and safety).

THE POINT IS... my car right now is worth about $3000 trade, $4000 private. The civic... about 3 times as much. I took a huge hit from that P.O.S.

So, that's the story. If your pops just thinks purchasing a car is a bad investment, well... he's got that right. If it is a prejudice against the rates vs. the 0% domestics, tell him to give me a call!

Hey... wanna buy a neon :D
 

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I'm 23, and am at the end of my G1 learner's permit. I ordered my Mazda 3 GT last weekend (cost me about $30,000), and should be picking it up this week. I've purchased it completely on my own accord, with only minimal advice from my parents. I'm on my own insurance policy (which will cost me about $2,800/year).

As G_Style stated, I wouldn't recommend buying a new car unless you can afford to do so. I've been out of college since 2001 and have a stable, full-time job. I know that I can fit the car, insurance, and maintenance costs (gas, etc.) into my current finances.
 

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I'm 23, own a Mazda 3 but had my parents co-sign to ensure I got the 3.9% apr since I don't have a lot of credit established other than my credit card.

Saved up $2,000 for a downpayment and financed the rest. Haven't figured the exact insurance just yet though, since previous to this I was on my parents plan, but now I'll be own my own.
 

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Discussion Starter #14
budgy said:
"I turned 18 last November and got the Mazda 3 shortly after. I pay for everything on my car, insurance is almost $6000 a year with a perfect driving record...."

"Question is, are you the one who is going to be paying for this vehicle? If so I don't know why you are asking for advice because it is your money and you should do whatever you want with it, not your dads choice.

If your dad is forking over money for you to drive a brand new car, be thankful if the thing is a Cavalier :D"
How the hell are you able to afford a brand new Mazda 3 plus the $6000 insurance?!? Did you win the Lotto or something?

As for who is paying, that would be me. I will get my mom to sign and myself to co-sign for all the different reasons such as insurance, credit rating etc.

I want his advice for many different reasons such as which dealership to go with, what price I should get for my current car, he can also negotiate better then I can.. and so on and so forth. I made it clear that I was going to do it no matter what, but that I would prefer if he helped me.

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derksen said:
"Why is your dad not supporting your decision to purchase/lease the 3?"
He believes its a huge waste of money, but then again he is ultra conservative when it comes to $$$. My dad also doesn't believe in paying more then you have to, hence he hasn't paid one cent of interest on anything in the past 10years.

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saltorio said:
"I'm 23, and am at the end of my G1 learner's permit. "
What is a G1 permit?

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MZ6ZoomZoom said:
"I'm 21 and own a fully loaded Mazda6, no help from the parents."
What the... did you win the Lotto also?! :wink:

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Message to most of you.

You guys will be paying alot of interest during the 4-5 years of financing if you only put $2000 - $5000 as a DP no? Can you guys really afford to purchase a car? Will you be able to take a trip once a year and treat yourself to some nice restaurants? Or will that become history since your monthly payments will drain all your money?

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I think I agree with my dad on one thing. That buying a brand new car before the age of 25 is unhealthy financialy, unless you have started your life and you have a stable job like "Saltorio" said.
 

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I put 8000 down, on a 22k car (that's out the door price), and have a loan from my credit union (3.7 percent). As for how I can afford it and still go out and eat, etc, I work a lot. I have two jobs, work an average of 55 hours a week, over summer will work over 80 a week, and basically devote my life to making money. It's not fun, but it's doable because when I'm not working, I can do pretty much anything I want. I pay rent, buy my own food, etc, but I don't blow my money on stupid stuff (with the exception of eating out every day, but I work at a grocery store, so it's not too expensive.) Finally, I can't speak for how other people do it, but I do know that working a lot is part of adulthood, so I don't mind it. Better I should work hard now than later, especially if I can pay off the car earlier and thus save money. It's all a trade-off. I trade a lot of my time in return for money, which I then can save or spend on my remaining free time. That's how life works. btw, in a few years, I plan on returning to school and possibly getting my MA, so I'm working now to save for later. If you're still in school and you have to pay for the new car yourself, my best advice is buy a cheap commuter car, i.e. an older Protege or Corolla or Civic and save all your money for when you get out of school and have a new job that affords you luxuries like a new car.
 

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I am 20 (21 in 3 days :D ) and bought a 3 all by myself. I used a student loan to put a down payment on the car and financed the rest, surprisingly i was approved for financing cause i dont have a lot of credit. I also pay my insurance too which is $2400 a year. I will be graduating next april (2005) and prob upgrading to an even better car. I want a VW Golf R32 sooooooo bad. So i say why the hell not. Go for it.
 

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Discussion Starter #17
I will be leasing it for 36months and not buying. Also technicaly speaking with what I have in my bank account, I could pay the entire 3 years with out working. Therefore I don't have to devote 60hours a week to pay anything off. I also still live at home and I guess you can call me a mama's boy. :wink: Oh and... I have no real expenses like rent and stuff.
 

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It's really best to put some money down, lower the monthly, and then own the car in the end. While lease details have morphed over the years, you will usually pay about $2000-$6000 more in the end if you want to purchase the car.

If you don't mind possibly throwing the money away and never seeing it invested, well, that's up to you.
 

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well ... I am only 21 ... still in college... I just need to work everyone day to pay for the car every month .... and I strike a deal with my parents ... as long as I got my good grades they will pay for my insurance... plus .... u cant live without driving in california hahah ... so I must have a car... and mazda 3 is cheap and nice .... so my parents think its a good investment
 
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