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Buying a Car for B-School

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Joined: 25 Jan 2012
Posts: 30
Location: United States
Concentration: Finance
Schools: Rice University (Jones) - Class of 2014
GMAT 1: 690 Q V0
GPA: 3.5
Followers: 1

Kudos [?]: 21 [0], given: 9

Buying a Car for B-School [#permalink] New post 02 Apr 2012, 16:38
I need a car for b-school. But my family has always been a Toyota/Chrystler fans, so I have no idea what to get if I'm looking for style points.
What do most b-school students drive? Does it even matter?

Mostly city driving. 10mins going to/from campus. Short trips around the city on the weekend. I figure something with lower mpg isn't a big deal. Reasonably, I would put less the 10,000 miles on the car over two years.

I'm considering a newer Toyota/Hyundai, or an older BMW/Mercedes. I secretly want a mini cooper but everyone tells me how impractical it is. Obviously, spending less than $10k is more $$ in my pocket, but I'm not sure it's worth it to go for the cheapest thing possible.

I can do most regular maintenance (fluids, brakes, filters, etc) myself. But I would feel obligated service a newer car in a shop for the service records when I sell.

Other factors
I want to be able to get rid of it at the end of b-school if i take a job somewhere else. It would be nice to minimize the hit I would take on the car.

This will be the first car I've ever bought myself, and only the second I've ever owned. I loved my old '01 Toyota Echo and the 40+mpg, but I sold it before I left the country.
Joined: 27 Feb 2012
Posts: 36
Followers: 22

Kudos [?]: 608 [0], given: 20

Re: Buying a Car for B-School [#permalink] New post 02 Apr 2012, 19:15
hyundai elantra??
even VW chairman was impressed by it :P

that said i like the latest tucson and sportage, these small suvs are great for city driving (tall driving position) and safer than saloon, suvs these days have much lower rollover risk. but could be out of budget, perhaps secondhand ones?

Please give KUDOS if you find that my post adds value! Thank you!! :)

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Joined: 17 Oct 2011
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Location: United States
Concentration: Strategy, Marketing
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Re: Buying a Car for B-School [#permalink] New post 02 Apr 2012, 19:24
who says the mini is impractical? i am sure you are not planning on hauling drywall from Lowe's during weekends, nor are you planning on shopping for a family of 6 from Costco every weekend.

i think you can fit three girls or two guys in a mini depending upon who you are and what your preferences might be.. i am not sure why you would want any more space?

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Joined: 07 Apr 2009
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Concentration: General Management, Strategy
Schools: Duke (Fuqua) - Class of 2012
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Buying a Car for B-School [#permalink] New post 05 Jun 2015, 20:35
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Expert's post
For those who needs a car. Nissan is offering employee pricing on a couple of models, and great discount on others for graduate students. The offer lasts until June 30th, 2015. Graduate students are eligible for the program.

It's an affordable option for a warrantied vehicle. Great to have that peace of mind while at school.

NissanCollegeGrad.JPG [ 72.86 KiB | Viewed 913 times ]

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Re: Buying a Car for B-School [#permalink] New post 26 Nov 2015, 04:00
Expert's post
It definitely does not matter what kind of car you have in business school. In fact, it never matters what kind of car you are driving! Consider this one of your first lessons in financial management. A car is a depreciating investment. My tip for buying a car. Buy something cheap, used, reliable, cheap to insure and pay in cash. No loans, no lease, nothing but cash. In fact, you might want to just invest in a bus pass to get around campus. You'll be moving after two years and a car is one less thing to worry about.

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Re: Buying a Car for B-School   [#permalink] 26 Nov 2015, 04:00
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