car choice

Lemers · 10-01-2011, 07:36 AM

Dude it's your money get what ever you want. But the point I was making was about priorities. It doesn't matter how much you are making there's always a more expinsive house and car to keep you in debt.

With as much money that you are saying you and your wife make you are most likely going to be living in a half million to one million dollar home and paying high payments. You also need to think about all sorts of insurances (medical and life being the big ones).

Lifestyles eat money up fast and I wouldn't suggest a $100k "toy" car until the house is paid off.

moto_italia · 10-01-2011, 07:56 AM

Quote:

Originally Posted by Lemers

Lifestyles eat money up fast and I wouldn't suggest a $100k "toy" car until the house is paid off.

+1. Sage advice.

Zemurray · 10-01-2011, 10:01 AM

I'm with bvi on this one. Too much money for a car. Both my wife and I have suv's for daily drivers, which last 8-10 years. Then we have more reasonably priced toys, a couple sport bikes, a 280z, and the new 370z. The 370z is my dream car (practical dream car). Sure, I'd love to have a Ferrari, but there would be no way in he'll I'd spend that much on a car.

sojirovskensi · 10-01-2011, 11:27 AM

Well.. In Texas, houses are relatively cheaper than other states, it usually costs $350k for really nice neighborhood, 2 story, 5 bedrooms, and it's new!

By looking at comments, I would just go with next M3, keep my Z as daily (if my Z breaks down I would have to get wrx or something), and wait until my house paid off then chase for my dream car.
Personally, I have a really bad experience about buying a used-car so I am keeping myself away from another one.

Thanks for all the inputs!

Mt Tam I am · 10-01-2011, 11:43 AM

Quote:

Originally Posted by sojirovskensi

After your financial status have become stable (bought house, no student loan, 1 kid) and making $150-200k a year, what would you do? Assuming that your wife loves car too.

15 years plan

1. Buy ONE of your dream cars (under $120k, in my case GT3), keep it 15 years and get a DD every 8 years (z/sti/evo.. under $35k)

2. Buy a new M3/Cayman R (~$75k) for DD and trade in every 5-6 years.

Option 2 while paying down house. And in 5-6 years reevaluate your situation. Maybe then option 1.

sojirovskensi · 10-01-2011, 03:26 PM

I've done some researches about the maintenance and insurance of GT3, and it varies a lot.
Insurance=3~4k /year
maintenance=1~2k/year
does that sounds right?

BrianMSmith · 10-01-2011, 04:06 PM

I make like $160ish, that's a lot of money if you're single, but that doesn't add up to much with family of 5, 15yr mortgage (big payments) and a good 32% of my income goes to health insurance and retirement savings right off the top. I am a LONG way away from a GT3, about 20 years of 5% income growth...

optiontrader · 10-03-2011, 12:40 AM

If you've just entered the work force, then I can imagine the insurance rates would be around what so say, soji. It's a little less for us old folks.

Factoring that for maintenance sounds right. Figure a couple hundred for oil changes + routine maintenance. U buying new, CPO, or used?

sojirovskensi · 10-03-2011, 09:16 AM

Quote:

Originally Posted by optiontrader

If you've just entered the work force, then I can imagine the insurance rates would be around what so say, soji. It's a little less for us old folks.

Factoring that for maintenance sounds right. Figure a couple hundred for oil changes + routine maintenance. U buying new, CPO, or used?

I will get new M3 if not, GT3 less than 10k miles on it.
I will have to see the actual spec of M3 before I make a decision because both M and GT3 are my dream cars and want to own them both.

M sounds right for my age because I still have more than half a century to live and it will probably a better idea to invest for future.
If I ever lucked out later on, hopefully drive GT3 before my 50's.

optiontrader · 10-03-2011, 02:19 PM

Quote:

Originally Posted by sojirovskensi

...M sounds right for my age because I still have more than half a century to live and it will probably a better idea to invest for future.
If I ever lucked out later on, hopefully drive GT3 before my 50's.

Well, it sounds you're on the right footing with the earnings power you've got now; just keep your head on straight, work hard (play hard too!), and keep your priorities straight, and you've a good chance to driving a GT3 WELL before then.

One point I must make: you're dual income right now, but I'm sure discussions on raising your kids will come up, and it'll come down to your preferences. My wife and I came up to this crossroads awhile ago, and talked about her leaving the workforce and becoming a full time mom. It's a decision that I don't regret (except for when I talk about the cars we drive.

). I'm sure you'll both come to a decision that suits you both (We're single income, but I know a lot of DIMK [Dual Income, Married with Kids], that work out their schedules quite well - and one of the bubbas drives a GT2 *cry* ).

Good luck, and enjoy that M!

RoshDawg · 10-03-2011, 02:39 AM

#2 wait for new m3 if you like cars as well as luxury or if you're a huge car nut then cayman r!

Red__Zed · 10-03-2011, 09:19 AM

I will probably keep on my two fun cars, new one every 6-18 months plan.

10-01-2011, 07:36 AM	#1 (permalink)
Lemers A True Z Fanatic Join Date: Mar 2010 Location: Izmir, Turkey Posts: 15,371 Drives: 2012 Traverse LTZ Rep Power: 54	Dude it's your money get what ever you want. But the point I was making was about priorities. It doesn't matter how much you are making there's always a more expinsive house and car to keep you in debt. With as much money that you are saying you and your wife make you are most likely going to be living in a half million to one million dollar home and paying high payments. You also need to think about all sorts of insurances (medical and life being the big ones). Lifestyles eat money up fast and I wouldn't suggest a $100k "toy" car until the house is paid off. __________________ 2010 Black Cherry Touring/Sport/Nav Now - 2012 Travese LTZ until I leave for Turkey

10-03-2011, 12:40 AM	#8 (permalink)
optiontrader Track Member Join Date: Jul 2010 Location: Smog Hell, SoCal Posts: 595 Drives: 40th Rep Power: 17	If you've just entered the work force, then I can imagine the insurance rates would be around what so say, soji. It's a little less for us old folks. Factoring that for maintenance sounds right. Figure a couple hundred for oil changes + routine maintenance. U buying new, CPO, or used? __________________ 40th Anniversary Z - 3M Paint Protection Film, CA Legal Tint! (70/40)

10-03-2011, 02:39 AM	#11 (permalink)
RoshDawg Track Member Join Date: May 2011 Location: NM / CA Posts: 981 Drives: '13 911 C2S Rep Power: 17	#2 wait for new m3 if you like cars as well as luxury or if you're a huge car nut then cayman r! __________________ \| EVO X MR \| '11 WRX STI \| 370Z SPRT \| 911 (991) C2S \|

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10-01-2011, 10:01 AM	#3 (permalink)
Zemurray Base Member Join Date: Sep 2011 Location: La Grange, KY Posts: 117 Drives: 78 280z, 40th 370z Rep Power: 15	I'm with bvi on this one. Too much money for a car. Both my wife and I have suv's for daily drivers, which last 8-10 years. Then we have more reasonably priced toys, a couple sport bikes, a 280z, and the new 370z. The 370z is my dream car (practical dream car). Sure, I'd love to have a Ferrari, but there would be no way in he'll I'd spend that much on a car.

10-01-2011, 11:27 AM	#4 (permalink)
sojirovskensi Enthusiast Member Join Date: Sep 2010 Location: Dallas Texas Posts: 287 Drives: 10 Nissan 370z Wh M6 Rep Power: 16	Well.. In Texas, houses are relatively cheaper than other states, it usually costs $350k for really nice neighborhood, 2 story, 5 bedrooms, and it's new! By looking at comments, I would just go with next M3, keep my Z as daily (if my Z breaks down I would have to get wrx or something), and wait until my house paid off then chase for my dream car. Personally, I have a really bad experience about buying a used-car so I am keeping myself away from another one. Thanks for all the inputs!

10-01-2011, 03:26 PM	#6 (permalink)
sojirovskensi Enthusiast Member Join Date: Sep 2010 Location: Dallas Texas Posts: 287 Drives: 10 Nissan 370z Wh M6 Rep Power: 16	I've done some researches about the maintenance and insurance of GT3, and it varies a lot. Insurance=3~4k /year maintenance=1~2k/year does that sounds right?

10-01-2011, 04:06 PM	#7 (permalink)
BrianMSmith Enthusiast Member Join Date: Dec 2009 Location: secret Posts: 267 Drives: 370Z, Ducati 748S Rep Power: 17	I make like $160ish, that's a lot of money if you're single, but that doesn't add up to much with family of 5, 15yr mortgage (big payments) and a good 32% of my income goes to health insurance and retirement savings right off the top. I am a LONG way away from a GT3, about 20 years of 5% income growth...

10-03-2011, 09:19 AM	#12 (permalink)
Red__Zed A True Z Fanatic Join Date: Jul 2010 Location: window seat Posts: 28,940 Drives: Mostly on two wheels Rep Power: 121	I will probably keep on my two fun cars, new one every 6-18 months plan.