Money an issue?
do NOT forget to inquire about the insurance with your agent.
My wife and I made that mistake when she went from a 95 taurus to a 01 Stratus.
Her insurance jumped damn near 4 times.

Other thing to keep in mind is the requirement for premium fuel. RSX doesn't need it, Cobalt does and I'm sure the Trans Am would.

But it doesn't sound like you have very sound reasoning for purchasing a new vehicle. You want the Cobalt b/c it'* reliable? It won't hold a candle to your Bonne. You want a 5 spd? Fine, I can understand the attraction. You want a CD w/ 7 band equilizer? Huh? Something this inconsequential should NOT play a role in deciding a new vehicle. No offense, but it makes you sound like a kid who changes his mind at the drop of a hat. Where on earth is a 16 yr old getting the money to buy a practically new car?

The first thing you should ask yourself is "do I need a new vehicle?" What is wrong with your Bonne? Does it not suit your requirements for a vehicle? Things you should be considering for criteria for a new vehicle are things like fuel economy, reliability, important features (read: brakes, engine, suspension, safety, not 7-band equilizers.), and most importantly if you really need a new vehicle (or are in such a comfortable financial situation that you can afford to mess around with money). Focus on the important things, and don't worry about custom rims, carbon fibre hoods, and audio **** until you have the important issues straight.

The insurance is also a HUGE issue. On a new vehicle like that, you'd be stupid not to get collision insurance, and at your age on those vehicles, insurance would be astronomical. Just as a story (I know insurance varies from person/vehicle/area/etc), when I was 19 I wanted to buy a 91 Mustang GT w/ the 5 spd, was all ready to buy it, called my insurance company, they flat-out REFUSED to insure me on that vehicle (as a driver w/ 3 years experience, driver'* ed, no accidents, admittedly one minor speeding ticket). After calling around, the cheapest I could get was $6000 a year for JUST PLPD (public liability). Needless to say I didn't purchase that car.

And just as a last comment, not knowing the name of a vehicle you are "seriously considering" doesn't speak well to your rationality.

Not to mention the taxes you will have to shell out

HiddenCosts++;

Wow insurance is expensive in Canada. I'm 19 and I only pay $1200/year for almost full coverage, when I was looking for a T/A it went up to ~$2000 for similar coverage but I have a perfect driving record. I was looking at sports cars when it came time to get my second car too, but they were just too impractical and overpriced. If you want a good, reliable car that'* afforadable but still quick and customizable look into something like a GTP. I got the SSEi because the Bonnevilles are generally better taken care of then the GP'*, and it'* pretty much identical performance wise.

Hidden costs will get you too if you pay that much for a car. My $5200 Bonneville ended up costing $6100 after taxes and other stuff, just something else to keep in mind.

Also bear in mind that the lovely state will probably tax you every year on that vehicle too. double whammy.

Yeah insurance can be very expensive in Canada, it varies a lot from province and vehicle/driver. I pay $1400 CAD a year for no collision, my 1979 Firebird Formula was $1800.