pburgh

Agreed... I did almost 3 months of planning/researching/thinking before picking up my Z last saturday. Based on what I make, I felt I could still contribute the maximum to my IRA, as well as save for a house, and still make rent and all those other annoying expenses. What it boils down to is that I have got to have a car, I might as well drive something that makes me smile. I'd rather pay a little more and drive the Z than be bland and drive a used civic or something economy.

I was leasing up until my purchase, it feels good to own the Z. I only pay $150 more a month to own my Z then I did to lease my GTI. Kiddies without a decent paying (stable) job should not expect to own a $30k+ car... that's the bottom line I think.

2 cents

kcobean

iTrader: (2)

Pburgh really hit the nail on the head. He bought the car *AND* still has enough money left in his budget to do other things with his life. This post was never intended to imply that the Z is an unreachable dream, but other people seem to keep taking it out of context.

Would you all agree with me that there is substantially more cost involved in your car than just the payments? I'll bet you do, and my point is that people with "Z tunnel vision" may not be accounting for those costs when they start considering buying the car. That is a very dangerous set of blinders to have on considering the long term ramifications of making an uninformed decision.

This post wasn't intended to debate the merit of a large downpayment or how affordable the car is. In the grand scheme of things, the Z isn't that expensive of a car, I never disputed that. But it IS an expensive car if you make 15K/year and you think that a $300/month car payment is all that's involved.

I just hope that people can use the information I put together to make an informed decision. If the decision is that the Z isn't really feasible right now, that's perfectly ok. Hard work and perseverance will make affordable if you really want it. If the decision, after taking into consideration all of these factors is that you still can afford the car, congratulations, and welcome to the 350 club!

tekneq

Interesting point of view. I prob. did extend myself to far on this car, but if you arent happy then you might as well pack it up and move on right? I work over 60 hours a week for myself. Not to mention all the work i put in after i leave the office, such a good post, but at the same time, can you stop burdening people that are purchasing the car b/c simply it allows them a smile to thier everyday live that work or other things cannot? I am only materialistic in one case, my car, and damn proud of it. Am i doing this for a smart financial investment, no. That is what ROTH and a 30 year morgage fixed at 4.75% is, not a sports car. What is the point of your post,,,,,, if you want to drive the car, you can find a way. so heads up all you financially independant sub 25 year olds, you know if you can afford it or not and if you can and you want it, the buy it. B/c when you get older, it will just sit in the garage and come out once a week, is that the point of owning a fine automobile....nope.... no flames here, just an opinion

tekneq

and for kcobean's last point i have found agreement upon...if you make 15K a year dont be dumb. common.

kcobean

iTrader: (2)

What are you talking about "burdening" people??? I stated pure and simple facts. There was no "point" to my post. I'm not trying to "burden anyone" or put down anyone or tell anyone they can't hack it or that they're dumb for buying the car. IT WAS PURELY AN INFORMATIONAL POST!!! I didn't state my personal opinions in the original post, I didn't try to tell anyone what to do. I did some research, I posted it, and you can take it or leave it. I don't really care what your personal situation is. If you're 16 and you want to work until you're 22 spending every dime on the car, that's none of my business. I was just trying to help people understand that there is more to the car than the payment. If you feel burdened, take that up with your conscience, not with me.

Additionally, I never claimed that the Z was an "investment". It is an expense, plain and simple. The point of my post was to help bring to light ALL aspects of the expense.

I'm sorry you didn't get it.

wildone_106

if everything I owned was worth the price of a Lambo or Ferrari I'd sell it for that, just so I could be cooler than everyone else on the road, is'nt that what its all about?! Its car culture baby-

tekneq

wow look at the quick reaction to the non-intentional flame....take a burden up with myself? lmfao. sounds like ur an old dude who just bought a z and angry that there are young bucks like me, who work their *** off to afford one, driving them as well. the car costs 25g's used with 5 thousand miles loaded. we dont need a lecture on how careful we should be about buying a car, if i wanted that i would have purchased something well over 100k and not driven it daily.....take the burden up with myself...haha. I was trying to put some hope back into the young guys who want this car. you took it away! talking about all the stuff that we have to pay for ontop of the car payment...tires every year? are you kidding me! running into a pole? what! if you are truely involved with your 'car club' and 'car' the way that a young guy who has been saving up for two years to purchase the vehicle has,,,,,then you arent gonna go burn your tires slamming into poles are you? and by the way...at the end i said this is not a flame...sorry you didnt get it.

pffff

tekneq

oh and by the way! walking down the street b/c you are going to wear our your shoes...and then you will have to buy new shoes...and dont sit on any chairs b/c you will have to wash your clothes...

isnt there expenses to everything? owning your own home....going to work.....even owning a car... i was simply trying to keep the excitement alive with the young folks out there who are now put down by your extremely high expenses...

pffff

dogfish1

Who cares about this stuff. It is a car and everyone on this board knows a car is not an investment. The guy's research is helpful and probably pretty accurate, but who cares, every car costs money. Who you rather drive a Buick.

dogfish1

Zcool

Wow! Some of you guys just don't get the point of kcobean's initial post and you probably never will. He was only saying that everyone (not just young bucks) should consider the true cost of owning a Z (or even a Buic) before you commit yourself to a lengthy sales contract. Yes, it is your money, you earned it and have every right to spend it how you wish but you had better have your priorities straightened out when your income is less than your expenses. Nothing too revolutionary about that.

I think those who have been offended or have taken a strong objection to kcobean's advice might just be the ones who are now angry because of the sacrifices they have had to make to own a car. It may be the car of your dreams and it may get you excited when driving it but at the end of the day you still have to pay rent, buy groceries, and yes tires!

tekneq

if you are paying to own this car...and are money wise..like some of you on the otherside of the ball here,,,,shouldnt we discuss the importance of owning a home>.. you are all talking about how much cars cost to own then say you need to pay rent...its like the deaf leading the blind.


werd to the hizzerd

anyways..i am not taken by his comments, i dont have to scrap together to make payments or buy tires, i do just fine and im just trying to keep the heads up the individuals who actually are scrapping to make ends meet just for the pure excitement of owning this beautiful car....... i just think that all this research crap was un-needed and pseudo-ridiculous. lets put a formula to owning a car..hey can you give me a formula for dating too plz?

pfft

tekneq

im just gonna quit. we are all here to be enthuziastic about owning our cars..... and to help each other out..no harm no foul
sorry for any comments that were taken out of context

cam

kcobean

iTrader: (2)

Ok,
Let's say this one last time.....I NEVER SAID THE Z WAS AN INVESTMENT. We all know that with RARE exception no car is. But it IS an EXPENSE that comes at you from multiple angles (yes, just like any car, but in different proportions and ratios than many others) for potentially long periods of time. And unless you make a large down-payment, it's an expense that can be VERY difficult to get out from under without destroying your credit record (it's a fact that most people remain "upside-down" for at least the first half of their bank loan). Not everyone has the ability to see all this that easily, especially when faced with the exciting possibility of owning this cool car.

Additionally, I never said this was an expensive car. Expensive is a relative term left to the individual reader to define for themselves.

This post has nothing to do with my ego or financial status, either in itself or in relation to anyone elses. If you don't find this information useful, that's great, it means that you probably considered all of these things before buying, or you make enough money that they don't negatively impact you.

I don't understand why you folks who are brand new to this forum feel the need to come here and call people names and post your nonsensical analogies about shoes and clothes. If you don't like what I'm saying, unless it's directed at you, just leave it alone.

Incidentally, if this is "research crap", then why are there entire companies that do nothing but this kind of research? Could it be because this information has some value and isn't totally "pseudo-ridiculous"?

Now do yourself a favor and don't reply. You've already expressed that you think this thread was a waste of my time to write and yours to read, so do the adult thing (if that's something you're capable of) and just keep your opinions to yourself.

Sorry to the rest of you for having to put up with this childish garbage.

Z33Concept

hey man hows it going KCO..... well this thread had tons of info uhhhhh. uhhhhh I think this benefit alot of people out here like me that would plan to "PURCAHSE THERE Z THERE SELF" at such a Yng Age. Yall should listen this KCO he been though this shyt before cuz he had a Red Rx-7 back in da day so he been there done that so so so on... hey KCO whats ur montly note I already know $0 Be E'zz man HOLL@

shopdog

More importantly, a big down payment ensures that you aren't upside down on the loan. In other words, at any time you can sell the car and retire the debt. If you go for a small down payment, you'll almost certainly owe more than the car would bring if you had to sell it. That can be a dangerous financial trap.

kcobean

iTrader: (2)

Hey man!
Yeah, I have definitely been through the mistake of getting "starry-eyed" over a car that, while it wasn't a terribly expensive car, was more car than I could really afford. I did it when I was in my early 20's in the military. I loved that RX-7, but man did it f*$% me up financially for awhile. I'm just trying to help other people not make the same mistake, that's all.

And yeah, my monthly note is exactly $0.00. There are arguments about whether it's better to finance the car at a low rate and invest your available money or just pay cash, but that's for another thread. I will say though, that walking into a dealership and writing a check for the full amount of a brand new red sports car was a damn good feeling!!!

tekneq

what's done is done, and yes I do pay for it myself.
analogies are analogies and somewhat aplicable.
however, who in the general public isn't upsidedown in the car note?

not many,,,,,,lucky you to pay for it cash.
pz

Zcool

I paid cash for my Z Roadster and luck had nothing to with it as I'm sure most of those who paid cash for their Z will attest also. If you bought the car with your winnings from the Lotto then yes you paid cash by luck.

I was able to pay cash by hard work, saving, investing and delaying the grartification of owning a sports car until I could truly enjoy it without having to worry about payments and all the other expenses associated with owning this car.

sluggoZ

iTrader: (129)

Zcool...........cool.