That's not a bad idea either. If one doesn't mind the hassle of selling it. Then again, if it's titled in the OP's parent's name, costing just $3K-$4K, if selling it became too much hassle, they could just donate to a charity in B-more and take the tax deduction. (Or the OP could take it if he itemizes.)
You're right about the devaluation on old cars. My '93 318i was worth about $4K in '07 when I gave it away. They are still selling for $4K. BTW, though price-wise an old BMW would work just as well, I wouldn't recommend it for someone who's in school. Too expensive, to much risk of high repair costs. For functional transportation, a Honda et al
like it is a wiser choice. Of course, if you one find an excellent
E36, and I do mean excellent in every sense, for $4K, it'd be the thing to do for the risk is very low that it'll need a lot of costly repairs and and the E36s didn't have all the fancy gizmos on the motors that today's cars do.
I like your posts NemesisX. They are consistently thoughtful and are occasionally funny too.
Can't speak for you, but I love my 335i enough that just waking up and driving it is a total joy. I drive rental cars a lot but I think I love driving my car the same even if I didn't. I don't need too much incentive to like it.
It doesn't get more stealthily wealthy than walking. LOL
OP: For grocery shopping and general errand running, if you don't have wheels of your own, coordinating your excursions with a roommate or girlfriend isn't a bad way to go. Taxis are also plentiful in B-more.
Note: (I suspect you know this, but I don't know you, so I'm just saying..)
If you do happen to go grocery shopping with a male roommate, just be sure you each have your own shopping cart, unless, of course you are sleeping together, which is perfectly fine if you are, but if you aren't...Hopkins isn't that far from Mt. Washington. No point in getting some guy's hopes up unnecessarily.
Ditto if you do so with a girl there's no way in Hell you'd want to be, in the minds of others, romantically linked to. No point in shutting off a good opportunity that might come knocking.
(Exception to the rule: if the only
thing in the cart is partying supplies - chips, drinks, etc.)