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I'm all for taking prudent risks
And driving a car whose engine replacement is $3k is different than driving one that is $7-29k. Especially when you are a college student.
My first car was a PV544 Volvo. (was racing them in sedan racing at the time.) Thanks dad. You let me pick the car, I made a bad decision. Bought before my Sr year in college. Cost me about twice its cost in maintenance in the 9 months I had it and was a constant struggle to find someone who could repair it. Lost 80% on the resale. Second car was a red Alfa Giulietta Veloce Spyder 1300. Darn near a racing car. Bought from a Nash Rambler dealer. Never forget driving down to the Indy 500 and passing a truck at 100. Neat car. Sold at 2 years after the engine blew and I was somewhere there was no mechanic who knew what they were about. Sold for parts.
So I know the fun of a hot car in your youth. And the $ problems they can create...and hassle.
Yes, I'm 67 now and somewhat tempered by experience. Also financially so much better off because I stopped doing such things until the house and the colleges were paid off.
Even then I bought 5 year old Boxsters. If I need to, I could pay cash for the engine rebuild. But it isn't my only car, and can be put away when the weather is bad and it isn't safe to drive a car with summer tires. And my father is long gone and it creates no family problems...my wife suggested I buy it.
No matter what you do, I hope it works out for the best for you.
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