Advice on whether to get a new car or not?

Ok: I've just gotten a VERY substantial raise and promotion, and I'm thinking I want to get something nicer and more fun as a DD.
It'll be something financed, as is my current car, but I'd like to stay around 400 a month.
I love the kia, it has been an amazingly reliable car, definitely the best car I've ever owned, but at this point, I feel like it's a ticking time bomb as far as major failures.
The trans is starting to go out (1st and 2nd gear are tougher to shift into and out of), I'm not happy with the handling, I miss having keyless entry and power windows, and it's wrong wheel drive. I still have two years left on the loan for it, and I'll lose a little trading it in, but I feel like I have the opportunity to get something I'll be happier with for a long time to come.
I'm pretty much looking at STI's, 03-04 cobras, maaaaaaybe an Evo (there is a 30k mile evo viii around here with a very good price tag, but I'm afraid of it's inherent mitsubishi-ness), CTS-V, ms3, e36/46 m3, maaaaybe an e39 m5 if I can find one that's a manual, and that's about it.
I'm really wanting to get an STI, but, looking at 05+, they are still a bit pricey. Cobras usually hover around $20k, and there is a b spec legacy GT that I'm sure will be gone in the next couple days.
I'd love to get an e36 m3, it'd be a lot cheaper than most of the cars on the list even for a VERY clean one, but idk how they are to actually live with as a DD. Same goes for the Evo. I could get an MR for less than $20k right now, with lower mileage than the kia has.

Alternately I could sell the kia (anyone wanna buy a 2010 kia forte sedan 5 speed that has been meticulously taken care of for $10k OBO?), buy a land cruiser (I need and miss having a truck) AND a toy, but then I have two lower-end ish cars at the same time and run the risk of having two unreliable vehicles at the same time.

Another option would to keep the kia, get a rear sway bar, coilovers, and continue fiddling with it (maybe putting another 5 speed in it or working out the first 6 speed swap into a '10 2.0), but not be 100% happy with it because it wont have enough POWAAAAAR. lol
idk. what say ye, Hive Mind? advice? real reviews of living with a 4g63 evo/e36/46 m3/etc?

thinking more on it and looking at trading for something less than $20k for sure, a mazdaspeed 6 popped up locally for $13k and it's one of my dream cars.
Either way I'm going to save up a couple grand to put down and pay off a couple things first. Gotta be an adult about it I guess lol

I wouldn't go nuts just yet over the raise. It doesn't bode we'll with responsible actions. Then again I got a promotion and actually sold my reliable car and bought 2 that didn't run that week. I drive my truck to work because I'm so close gas isn't a factor.

I'd recommend not going out and getting a new car. You Kia is what 3-4 years old? 100k mile warranty right? Or is that just Hyundai? Put the monies away and build a race car :)! I wish I had never ever gotten a new car. I'd rather have 2-3 fun cars like I did a few years ago with the Trans Am and supercharged S197 but married and a dad now :( for the cars.

I'd recommend not going out and getting a new car. You Kia is what 3-4 years old? 100k mile warranty right? Or is that just Hyundai? Put the monies away and build a race car :)! I wish I had never ever gotten a new car. I'd rather have 2-3 fun cars like I did a few years ago with the Trans Am and supercharged S197 but married and a dad now :( for the cars.

…you won’t like my answer but here goes.

Discipline yourself to increase your standard of living no more than fifty percent of your increased income.

>>>One for now, one for later<<<

So, continue driving your existing car until you’ve saved twice as much as you need to pay cash for whatever you want.

I know, I’m a buzz kill.

I agree with RX. I went a little crazy with this new job and the increased income. Wishing my lease was up next week because I could have a mortgage for about $500 less a month, not be on the 4th floor, and be paying towards something to own rather than renting.

Wait a couple months, then see if you still want something.

I so rarely recommend buying a new car. It will nearly always screw your wallet way more than buying used. Aside from the big depreciation hit, new cars these days are so unproven. Manufacturers put so many features and electronics in vehicles that I like to wait a few years to see what fails. Think of the millions of people who mistakenly bought a 99-03 VW, or the millions of people who complain about the COPs on their 5.4L Ford, or whine when their 50k-mile LR Disco drops a Jatco and its worth $1500?

I wait. Not only does the OP (original purchaser) take the financial hit, but it gives me a chance to research and what to look for.

Buying a new car is like marrying a virgin... what if she's terrible in bed? Then you're stuck in a marriage with a dysfunctionally chaste bitch that you can't pawn off on anyone else.

the warranty on the kia is all but done: I'm at 99k miles right now (long commute, about to change though)
And I'm definitely not looking for new. the cars I want are way out of my range new lol

Meh, easiest thing is to pay off the kia (about 24 payments left, I plan on paying it sooner though), modifying it, buying a truck AND probably another project car=]
So I'll be looking for a truck or SUV on here in a couple months