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Scion FR-S / Toyota 86 GT86 General Forum The place to start for the Scion FR-S / Toyota 86 | GT86


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Old 01-24-2020, 09:46 PM   #71
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I have an excellent credit score but carry zero debt, including having paid off our mortgage (our only debt) 5 years ago. Frankly, I have no idea why.

Yep, mortgage debt is the only non-business deductible expense that I'm in no rush to pay off. Depending on your rate and tax bracket, the expense is usually more than offset by the appreciating asset.


Back to the OP. If your father works at a Toyota dealership, he'll have auction access. Target a Toyota/Lexus specialty auction, bring your VIN scanner, and go hunting. Toyota dealers don't want FR-S trades on the lot, they already have year old 86's they're desperate to move, so they usually go straight to auction regardless of mileage or condition = opportunity for you.


About insurance, liability insurance is what's eating you alive. Storage insurance is what I do half the year with mine. It'll cost $20-$40 month for comprehensive alone so you could drive your Camry during the nasty months and then store the Camry during the nicer months. Of course, if you're financing, the lender will demand liability coverage so hit up the old man for a loan to buy the FR-S all cash.


Others have mentioned flipping fixers. That's the way I started. My first flip at age 17 was a VW Bug. By 21 I'd run though a Mini Cooper (the real one), Jaguar Mk. II, and a couple other interesting motorcycles like a Norton Production Racer, none needing bodywork, just a rigorous detail and off they went at a good profit. That led to Porsche 911 air cooled cars and, my biggest mistake, Mercedes anything.



But times have changed. In your situation, I'd specialize in beaters, sell for cash only, and flip as many allowed in your state without a dealer's license requirement (6 per year here). Doing that, in short order you'd be able to pay cash for an FR-S.



Good luck, and consider what others here with valuable life experience have posted as legit free advice.
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Old 01-24-2020, 11:35 PM   #72
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As of right now, I have a full time job, I do this thing called co-op through my school where I work full time on shop weeks, and after school on academic weeks, I've been getting 40 hours every week, I think at the point I am right now, I could do this no problem

That's totally understandable. I had an internship and then a full time job towards the end of my degree as well. I know at your age the wanting feeling of buying that sports car is really strong but you should still definitely save a bit more over the cost of the car.

Trust me that decision will save you a lot of headache later.
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Old 01-25-2020, 06:17 PM   #73
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You know I just realized that most of us never really mentioned gas prices too, since you’ll be using 91 instead of 87, so remember to factor in your monthly cost in gas too!
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Old 01-25-2020, 06:23 PM   #74
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You know I just realized that most of us never really mentioned gas prices too, since you’ll be using 91 instead of 87, so remember to factor in your monthly cost in gas too!
The tank in my car is bigger, so a fill up will be about the same price.
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Old 01-25-2020, 09:05 PM   #75
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The tank in my car is bigger, so a fill up will be about the same price.
Fill-ups don't matter, MPG matters in determining cost per mile. So, take MPG and divide the price of fuel by it, and you have your answer. Two cars that get the exact same MPG but one uses premium and the other uses regular, doesn't matter the size of the tank, the premium one costs more. Now if the one using premium has a higher MPG rating than the one using regular, it will approach the same and could eventually be better.

Does that make sense?
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Old 01-27-2020, 08:39 AM   #76
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After seeing what most people said, I might consider just selling it, buying snow tires, and completely prepping the bottom of the car for the winter. Where I live in mass, the salt and sand is absolutely terrible and by doing this.
@Tcoat does make a good point, several Canadian winters are a pretty good example of "it'll be fine in the snow," although I can't speak to rain/slush/snow changing... because road salt mixed with slush is where the problem lies. That said, the oldest cars out there are just 7 years old (well, 8 since people can order a 2013 MY and get them in mid-2012).


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I feel I will be going against everything my dad has suggested me to do.
There's a difference between going against your dad and going against your dad's suggestions. Suggestions are just information. The best learning is done when you pick your own decision (which may agree with your dad's vision), but you should be confident in your decision.

The best information my younger brother gave me, if you're unsure about something, pick a direction and run like hell. If it's the wrong decision, it will become very obvious. Otherwise, you will keep wondering "what if I did this, what would life be like?" I joined the military on this principal, signed up for a 6-year term, then screwed up my knee (again). I had a knee injury beforehand (and I was naive to believe my recruiter "you'll do fine, just see how far you can go,") but I wanted to make the military a career and "retire" after 20 years. I messed up my knee again, and became a civilian again. I learned a ton of life lessons since then. I wouldn't change a thing in present day because I made my own decision with the info I had.

If you still want to do 2 cars (dedicated winter Camry, dedicated 3-season FRS), you'll just have to work more to get it done. Invest in your personal skills (community college or a technical school is a great option). If you want it bad enough, you'll figure out how to make it happen, just like me and my NSX.
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Old 01-27-2020, 08:44 AM   #77
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Fill-ups don't matter, MPG matters in determining cost per mile. So, take MPG and divide the price of fuel by it, and you have your answer. Two cars that get the exact same MPG but one uses premium and the other uses regular, doesn't matter the size of the tank, the premium one costs more. Now if the one using premium has a higher MPG rating than the one using regular, it will approach the same and could eventually be better.

Does that make sense?
Smiles per gallon vs miles per gallon.

Would you drive your FRS the same as you drive your Camry?
[ame]https://www.youtube.com/watch?v=DCqlJUhQhp4[/ame]
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Old 01-27-2020, 10:11 AM   #78
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@Tcoat does make a good point, several Canadian winters are a pretty good example of "it'll be fine in the snow," although I can't speak to rain/slush/snow changing... because road salt mixed with slush is where the problem lies. That said, the oldest cars out there are just 7 years old (well, 8 since people can order a 2013 MY and get them in mid-2012).


Through most of automotive history cars were disposable. This was especialy true through the 80s and 90s where the majority of the econoboxes were designed to have a 3 to 5 year life and then be thrown away and replaced with a new one. They were not built to last in harsh climates as they were cheap enough to just scrap out when done. The late 90s and into the 2000s this mindset changed and as cars got more expensive people held onto them longer. The automakers are not stupid and they saw this trend so instead of just writing off the idea of a planned 5 to 10 year ownership they started working to actually prevent serious rust. Cars now just plain and simple do not rust out like they used to. They use rust resistant materials in those body panels subframe areas most susceptible to salt and moisture. Yes you will get surface rust on bolts and uncoated steel but that will not become a rust through "issue" for decades (if ever). Look around any parking lot and see how many 10 or more year old cars there are that are rust rusted through. Back in the 70s to 90s you would see many but now there will probably be none. Other than Mazdas! It took until 2008 for them to make a car that didn't rust out in under 5 years.


The other past issue for cars rotting out fast was the metal they used. From the early 50s right up to the 80s much of the recycled steel used in building cars came from the scrap of WW2 equipment (mostly ships). That equipment had been made in a hurry and much of the steel was sub par to start with. After it sat and oxidized for a few years it became even worse. Post WW2 all those thousands of ships, tanks, trucks, aircraft, etc became the raw materials for the huge boom in car manufacturing. All those nice oxides got mixed into the steel since the recycling process was not up to removing them all. This resulted in body panels, frames, parts, etc that were starting to rust the minute they rolled off the assembly line. This problem remained until all that material was finally used up and the refining processes improved in the late 80s.


Strangely enough though is the current destruction of the wrecks of the WW1 German fleet at Scapa Flow. Since the ships were built and sank before the nuclear era so their rusty old steel is now very valuable for sensitive instruments since any steel exposed to air since 1945 is now contaminated by radiation. The wrecks are being systematically destroyed and salvaged for that uncontaminated steel.
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Old 01-27-2020, 10:25 AM   #79
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Wow I came into this thread expecting OP to be a full on prick using mommy and daddy's money-- we've had those before. I say sell/ trade in the Camry and daily the FRS. I would advise a '14 or higher though.
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Old 01-27-2020, 10:29 AM   #80
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Cars now just plain and simple do not rust out like they used to. They use rust resistant materials in those body panels subframe areas most susceptible to salt and moisture. Yes you will get surface rust on bolts and uncoated steel but that will not become a rust through "issue" for decades (if ever).
YES! I'm very excited (more than I should be) that you mentioned the difference between rust-through and surface-rust. Surface rust can actually protect against the elements. That's why on new bridges they spray rust-inducing chemicals (green or gray) to form a layer of surface rust, which protects the thick metals from rain, snow, saltwater air, etc.
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Old 01-27-2020, 10:29 AM   #81
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Would you drive your FRS the same as you drive your Camry?
If you are asking me, up to the limits of the Camry, absolutely. I would also drive a C8 the same way I drive my FRS, up to my limits in that case.
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Old 01-27-2020, 10:56 AM   #82
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Wow I came into this thread expecting OP to be a full on prick using mommy and daddy's money-- we've had those before. I say sell/ trade in the Camry and daily the FRS. I would advise a '14 or higher though.
Big difference between "I am saving up for as big a down payment on an inexpensive car as I can" and "My mom says I can have whatever car I want so I am shopping in the $25 to $300K range what should I get".
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Old 01-27-2020, 04:52 PM   #83
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I bought my 2013 FR-S when I was 16, putting $3k down, working part time and having my sister as a cosigner. I'm 18 now with a steady full time job.

If you're gonna get yourself into loan debt, make sure you don't bankrupt yourself. Don't be afraid to say no and come back later if the numbers aren't gonna work out for you. For some people starting out their financial career, the realization that "employment is not an option" doesn't hit right away, but I'm sure you already know that if you've had to deal with paying off your other car.

I also strongly recommend a 2014+, the 2013's have issues. Save up if there's no 2014's immediately in your price range with good mileage.
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Old 04-29-2020, 01:56 AM   #84
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Too bad the corona virus came around or else this would be happening next week
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