Car for Business School @ Fuqua?

I am also heading to Fuqua in the summer, though for the MMS program. Congrats on your acceptance!

I'm from NC originally and am pretty familiar with the area. Though I haven't spent a ton of time on Duke's campus, I will say that having a car in NC is extremely important -- there are likely to be no grocery stores / general goods stores within walking distance of your apartment. I think it'd be doable without wheels, but the Southeast is notoriously unfriendly toward pedestrians in terms of infrastructure and such...just make sure you make friends immediately with people who have cars, and you'll probably do fine without one.

Would you consider getting a cheaper car? If you plan on going back to NYC after b-school (though I would recommend checking out Charlotte :D), you most likely will get rid of it anyhow. Maybe like an '03-'04 3-series or a Subaru Impreza.

i have a subaru impreza back home lol 06 but my dads been in and out of work the past 3 years so i basically gifted it to him :P 03 04 is WAY too old lol esp considering i have so much saved. i saw vanguard recruits for stuff out of fuqua in charlotte so thats def a possibility but i think im leaning towards consulting so DC, dallas, atlanta, NYC are all in the picture wit hhat.,

Ah word, if you're ballin' like that, 03-04 is gonna be too old for you. I've always owned BMWs (though I've paid for them with my $, so older ones), and I'm just really not too into the 07-08 generation of 3-series. Give me a 2003 M3 over any car under 50k MSRP any day of the week.

Dallas would be tight -- sweet weather, no state taxes, etc. :P

Congrats Short, that's fucking awesome! All us "regulars" know how much you wanted this - you've earned it man, well done.

stop congratulating and help me with the car issue dammit lol ty :P

Congrats Short!

I am in a similar situation heading to school this fall. My default plan is to rent a car from my parents for a year, paying depreciation and a 7% cap rate. Given the way my thrifty dutch family handles cars, it is unlikely this will amount to much more than $800/year (do the math and guess how rusty my honda will be). The expensive part will be the insurance.

I will be paying cash for school and will also have money left over, but $30K for a car at 5% dividends works out to $120/month. That's going to pay for a lot of carrots, broccoli, and ramen if 2014 turns out to be a weak job market.

Congrats. I don't see why this is so complicated, though. Durham is not like Manhattan or SF.

IP are you doing the chi or princeton? :)

haha yes i know im just coming to grips with it -- it was kind of more so 'should i just live next to campus and trot over, use a zipcar and the bus when needed or just shut up and get a car despite the idea i might move back to nyc?' :P

Groceries, getting to school, going to work out, going out to dinner,and going out in general, driving to meetings and group study projects, road trips on weekends, and I'm sure they will be other reasons...yeah I'd fucking hate to not have a car in any city without a really strong public transportation system. I'd also hate to worry about finding a ride if there's something I needed urgently.

yeahyeah i feel ya. okay definitely going to get a car now lol

You need a car for sure. Personally, I would get the car that you want for 2 reasons. First, if you take a job in a place you need a car, you'll already have a car you're happy with when you move and it would be one less thing to worry about and you can upgrade later. Second, and more important in my mind, is that if you do move back to NYC or other area where you don't want a car, this might be your one chance to own a car so you should take advantage. Imagine if the only cars you own between 16 and 55 are an 06 imprezza and some shit Honda. I, personally, would regret the shit out that.

TL:DR Get an S5

While a car is definitely handy, I would say you're much better off putting your savings toward school and trips. You'll be walking / cabbing to bars anyways. If after a semester (or a couple weeks), you find that it's impossible to get around with buses and zip cars and whatnot, you still have the option to buy a car. That is, unless, you want to buy mine...

yeah i was looking at the S5 and the 335i duh nuh nuhhhh. saw an s5 with 30k miles, 09 for 26,800...

speed i already have a lot of savings, net of school and assuming investments stay flat over the next two years ill graduate with over 200k and 0 debt

If you're leaning toward consulting out of Fuqua, DC, Atlanta and Texas are your most likely options, and you can definitely have a car in DC area (especially if you want to live in VA/MD) and will need one in Atlanta and Texas.

So, if you think it'll be good to have @ Duke (which sounds like it will), know it'll be good to keep.

Also, congrats on your acceptance!

S5 +1

Touche, I guess you can afford it. I still think the cheaper Mustang GT is a lot more fun.

I moved from NY to TX recently and faced the same dilemna. Car is absolutely necessary outside of NY - get the 335i, I didn't and I totally regret it. I would take a look at swapalease before buying used, there are some good bargains out there.

congrats, short and good luck with YSOM.

if you are in NC, you need a car.

source: wake forest undergrad

lol im going to get low ionterest loans and keep my cash in the market if i can get below 4 percent loans which i think ill be good to go on

and jesus 17 mpg for the s5 haha im also worried if i get a speed demon car im gonna get jacked on tickets and kill my insurance rates :|

Short, you realize you can make penalty-free 401k withdrawals to pay tuition, right?

There is a huge tax advantage to pulling some money out in tax year 2013 when you will otherwise not have a huge income.

yeah but isnt it also better to keep it in the IRA/401k for the future tax free growth relative to oher investments i have? plus i only have IRA since i rolled 401k, we only have one for first year...

yeah but isnt it also better to keep it in the IRA/401k for the future tax free growth relative to oher investments i have? plus i only have IRA since i rolled 401k, we only have one for first year...

S5 +2

Mustangs are strictly for the lower class.

honestly i think a5 is enough but since the new one is coming out, i don't really wana buy an old version and still drive it after 2 years in school...

We know you have the money now go buy something you want, stop reminding us hahaa.

Congrats guys.

I think you shouldn't head into school with a car, just stay closer and get a ZipCar when you need one.

If you really can't handle being without a car, get one early next year.

All the best.

I am probably heading there with my V8 Suv. When I talked with current students, everyone had a car. Parking is free where you live anyway, and with rain and stuff, you don't want to wait for the bus.

yeah im pretty sold on the car as a necessity just looking around haha i think the s5 wil lbe too much of a temptation for me to drive fast, i used to have a ton of speeding tickets back in CT in high school and college.. i mostly care about how a car handles and with some decent oompf behind it as well so the 335i coupe idea is tickling my fancy well.

So you won't speed with a 335 but you will with an S5? lolwut?

nah not gonna snow that much compared to the north, if its that badly snowing im right across from dukes campus and if cars have issues getting around not so sure we'll be having classes haha

S5 is 350 HP with a V8 :P 4.9 0-60 vs 5.3 0-60 lol

and havent found many S5's below 30k with 30-45k miles tops

So 4 tenths of a second 0 - 60 determines whether or not you're going to speed?! If you're really worried about it, get a Cadillac.

You can always get the S5 chipped by APR for about $600 and turn out more HP. Even if you settle for a regular A5 that's always an option to get more power but keep costs down compared to buying an S.

lol yes either way im probably fucked but at least the 335i has better gas haha ill check things out more as i get closer to the time needed :P

http://www.carmax.com/enus/view-car/default.html?AVi=0&id=8274859&N=429…

2009 Audi A4 Convertible. 32k, ~15K miles, 27 MPG highway and not fast enough to get you in trouble.

Congrats on the Fuqua acceptance

I work in private banking in the duke area. The lofts at lakeview are pretty new and are adjacent to Duke Hospital the area gets busy with Hospital employees during the day, but is generally pretty quiet in the evenings. There are several restaurants nearby that I would recommend Enzo's pizza and chopped Greens come to mind. There is also Thai, sushi etc. less than a minute away. You will definitely need a car in Durham, it is about a 15 min drive to Franklin St. by UNC. Other cool places in the area: american tobacco campus, Durham performing arts center, 9th street in Durham.

PM if you have any questions about the area.

yeah im gonna aim for a 1br or studio @ the lofts at lakeview.. i saw the little fooding area next door when i went and its close to campus so pretty sold

the more important question: whut kinna phat dubz u gon slap on yo whip? spinnaz? 24's? whuteva dey is, betta be chrome or yee aint nuttin mane.

If you're going to work in the DC area after graduation, a car makes a ton of sense for the long-term. It's tough to live down there without one.

A5 / S5 is all-wheel drive, btw.

take limos everywhere

Infiniti G37. I can keep up with a 335i all day, and for $10k less out of pocket. If you get the G37x, it's all wheel drive as well. That is all.

Considering you have the cash, net worth and salary expectations, it might make sense to buy a car you will use for the next 8-10+ years/long term rather than choose a car you will sell/trade in a couple of years.

Key question, what do you like? & what are trying to achieve? A - If you love driving, sports cars and taking weekend trips away it might make sense to get one for the long term. (Porsche, Lotus, Corvette, TVR, etc...) B - If you just want a convenient car, get something small/used/cheap. A used VW Golf, Smart or decade old car you can run to the ground (this can get interesting, 20 year old bently/rolls, beat up M3, etc...). C - If you're not really into cars, but want to get something nice that you can use long term, then the BMW you suggested seems like a good choice. (very upper middle class). D - If you don't really want a car and just have extra cash, then travel, see the world and have fun. Not just B-school partying, but real travel. learn a language, immerse yourself, etc... (Africa, Europe, South America, South East Asia, Middle East, Central Asia, etc...)

If you really really like cars it might be worth it to get a used Porsche Carrera or something (i.e. option A). Will still be fun, nice looking (they don't look dated for a while) and reliable several years from now. Although this is a car that cost the same as your post-tax salary after b-school if you pursue the usual career tracks so maybe I'm aiming a little too high and this is an inappropriate suggestion. Only for those who know they want a sports car in their life.

Personally I would go for A or D.

IMO your best would be to ask people at Gmatclub. They will probably have a better answer.

http://www.youtube.com/embed/dTR7yvONCV8

http://www.youtube.com/embed/pudIZbCRq_c

Get a monster truck.

Ah, man. Look at this thread.

Short: Have you considered renting/leasing a car for the 8-month period before you figure out your summer plans? More expensive than buying, for sure, but it could also be a safer play. Risk and reward and all that jazz.

i asked one of my friends this question, she suggested you double your budget and buy an Aston Martin Vantage (Manual of course)... you will never need another car again...

http://www.dupontregistry.com/autos/Search/DRauSearchDetails.aspx?itemi… http://www.dupontregistry.com/autos/Search/DRauSearchDetails.aspx?itemi… http://www.dupontregistry.com/autos/Search/DRauSearchDetails.aspx?itemi…

Here's the Vantage in action... homage to C'était un Rendez-vous

Honestly, this car is better looking than most women...

Congrats on the acceptance!!

The thing is, you will have absolutely no idea where you'll be after b-school. Well, you may have an idea, but a lot can happen in 2 years. As you know, it comes down to the job offer(s) you get, where your current (or future) girlfriend (or fiancee) will be, and all that stuff. You very well could end up back in New York. Or in Texas. Or in SF. Or LA. Or London, England. You never know.

As such, I would get a car that gives you the option of selling it easily or keeping it for a while. That's why I'd go for low mileage, used 335 (or any 3-series BMW) that is near the bottom of the depreciation curve - which is around 4-6 years old. Compared to other used entry level luxury sedans, BMWs tend to be the easiest to sell if you need to make a quick sale (i.e. you're moving back to NYC, or you end up taking a job in London, Tokyo, Hong Kong, Australia, etc.). Either that, or a used A4. Both of them are good quality cars, and in the used market they will be easier to sell should you have to, or should you want to sell and upgrade. I'm sure there's folks who can claim that the Infiniti, Lexus, Acura, Nissan Z, or whatever cars have "better performance/luxury for the money" compared to a 3-series or A4, but simply put it's also a harder car to sell should you want to get rid of it. This of course assumes that you take care of your cars -- all things being equal, there will be more people interested in buying a well maintained 3-series or A4 compared to any other entry level luxury sedan.

And even if you don't sell it, you'll still have a solid car that will be low cost (because you are approaching or at the bottom of the depreciation curve), which will allow you to drive it for a few years after graduation and giving you the chance to buy that 2nd car (like a Porsche 911, or a minivan haha if kids comes in the picture sooner than later) or to sell it so you can get that minivan and a mid-engined Ferrari. :-)

Same thing applies to economy cars (that is if you don't even care about luxury/performance and just need a car that gets from A to B). Honda Civics are boring, but compared to other economy cars, they hold their values better and are also easier to sell than most other economy cars.

over/under on total number of fuqua threads OP will make?

thoughts on scooter/bike?

much cheaper/easier to park/economical

I think the 335i is a dumb idea. Car is extremely prone to breaking down. The problems regarding the high pressure fuel pumps are well documented, google it.

I would either lease for a year or buy a cheap shitty car while I'm in school and get something decent upon graduation.

Yeah, maintenance on an Aston would kill you. Forget BMWs, it will cost a lot more than that. I looked at buying a used Maserati once, it was the 3500 GT with the cool boomarang tail lights before they changed them to comply with USA regulations. Anyway, after the test drive I took it to the dealership to get an estimate for getting it serviced & scratches removed... $15-20k was their estimate depending on what i needed to get done. Pretty crazy, but i suppose that's the reason the guy wanted to sell.

Still, I would go for the Aston as a secondary means of transport. Beautiful machine...

blackfinancier Why is said SHE not a girlfriend.... or fwb or wife or idk... She has to be a good one if she has quality taste.