Is it a bad idea for me to buy this car?

[irocz0r]

Hello everyone. I just placed a $500 (fully refundable) deposit on a 2015 raven, stripped-out base model, manual FR-S which should be arriving in a couple weeks. I am paying something like $27,663 cash for this car.

I am 25 years old and, for right now at least, barely making $40,000 a year. This will be my only car, and I would like to depend on it for the next 8 years or so. I base this on the fact that I have been driving my 2005 Cobalt SS Supercharged for the last 8 years, and it has hardly been a reliable car. I blew the engine in November, and the new one has never been the same. I hope I never blow another engine in any car, ever. I was hoping for my new Japanese car to be more reliable, but it's starting to look like maybe not.

The Cobalt SS, and say for instance, a VW GTI, are cars that are fast and fun, but require a lot of "love" from their owners to put up with the headaches that they give. I wasn't looking for something like that, I'm looking for something with typical Japanese bulletproof quality.

I've been reading a lot about oil leaks, seal failures, and even engine failures. Not to mention quality control issues like tail lights.

No doubt, this is a fantastic and fun car to drive. But is it a good car for me, at this point in my life?

It's not too late for me to back out and go with a Civic Si, which I'm sure will be much more dependable.

[illicitstylz]

rule of thumb: monthly overhead expenses should not exceed 50% of your monthly income

I typically spend 20% of my monthly income on transportation but each person is different, you're the best judge of your financial standing.

eg.

I'm 26, I make 50k/year, so per month is roughly $4000 before tax. $4000 x 20% = $800.

That is more than enough to cover my monthly payment + insurance + gas. I keep the extra for savings.

Just remember, saving money is making money

[stugray]

If you are "Paying cash" that means that you are not financing it and have the money right?

If so, go for it. Mine has 20,000 miles and not one single problem.

[funwheeldrive]

These cars seem very reliable if left stock side from small issues that can be taken care of by warranty. That being said, I would not buy this car making the amount that you do. There are plenty of fun to drive, reliable cars that you can buy for much less used. You don't really make enough to buy any brand new car in my opinion.

[irocz0r]

I afford a $28,000 without a problem right now, I have the savings. I fully intend on spending either $28k for this car, or $27k for a new Civic Si. That's not so much the problem, as spending time and money on headaches later down the line.

[ZionsWrath]

Well do you contribute to your retirement? Do you care about that?

I'd say if you don't and you do care about that, then you can not afford this car.

Honestly I'd probably go for a used one. Only reason I bought one new was because I was waiting for it for a couple years, nothing else like it when it launched, and I had just started making decent income.

My advice is consider all your possible expenses before committing.

#1 like I said, retirement savings
#2 do you still live with parents? Do you want to move out?
#3 how is buying the car going to effect other activities you spend disposable income on?
#4 will you still have money for emergencies (including losing your job) if you buy the car

All of these suggestions are just for playing it safe. If you really don't care about that stuff I say go for it, I really like this car and I'm sure you will to. Don't let people get you down for not sticking to the accepted mold of what I said above. It's your decision, do what is right for you.

Good luck, hope to see you in one soon

[Atticus808]

make a spread sheet.
i just purchased a home recently (being built) and created a spread sheet including the following:
- Mortgage payment
- property tax
- tv/internet/phone bill
- electrical/water/gas bill
- all insurance
- groceries
- $300 misc for going out, etc.

All these categories i calculated on the high end to give me some breathing room. AFTER all the payments, I see how much I have left over in the month (dual income with fiancee, but i'll be paying the bigger bills like the mortgage payment). From there, I'll see if I have money left over to buy a fun car, but not spend all the left over money. THEN, from here, I still don't buy the car yet. I'm still saving up more to put a bigger down payment, that way i'll lower my monthly payments on the car and get charged less interest.

The more you wait, the cars will just get better and you'll have more money saved up.

Trust me, I want the car pretty bad but I've been holding out on it and don't regret it at all. It'll make it easier later.

[Rampage]

Many of the issues you are reading about are exaggerated. Motor and axle issues are mostly on modified cars and/or abused cars. Tail lights condensation issue has been pretty much solved since the 2013 MY. Crickets are annoying but not a reliability issue. People that do not have any issues post much less than those that do. My son has been driving an FR-S for a year now. He has had zero issues and zero post on this forum.

If you are set on buying a new car and have the money to pay cash for it then the FR-S is a good choice if you want a sporty car. If you want something a little more mundane and civilized then buy the Civic Si. If you do not need new then pick up one of the many used FR-S out there. Do not buy one that has been modded unless it has the exact mods you want anyway and definitely do not buy one that has been FI.

[ZionsWrath]

Originally Posted by Rampage

Many of the issues you are reading about are exaggerated. Motor and axle issues are mostly on modified cars and/or abused cars. Tail lights condensation issue has been pretty much solved since the 2013 MY. Crickets are annoying but not a reliability issue. People that do not have any issues post much less than those that do. My son has been driving an FR-S for a year now. He has had zero issues and zero post on this forum.

Definitely. I drive my car pretty hard on the street (i.e. redline it multiple times every time I drive it). 100% stock save fluids and brake pads. Just did a track day with about 2 hours of

Car is a first shipment, less than 1000 vin. I would consider myself an "average" driver in that I'm no pro and probably drive like an average "guy who likes cars but doesn't really have balls to the wall experience." Hasn't blown up once. 4 more track days scheduled so far. Maybe buy new tires after the next 2.

Wish my DI seals luck.

[illicitstylz]

Originally Posted by Atticus808

make a spread sheet.
i just purchased a home recently (being built) and created a spread sheet including the following:
- Mortgage payment
- property tax
- tv/internet/phone bill
- electrical/water/gas bill
- all insurance
- groceries
- $300 misc for going out, etc.

All these categories i calculated on the high end to give me some breathing room. AFTER all the payments, I see how much I have left over in the month (dual income with fiancee, but i'll be paying the bigger bills like the mortgage payment). From there, I'll see if I have money left over to buy a fun car, but not spend all the left over money. THEN, from here, I still don't buy the car yet. I'm still saving up more to put a bigger down payment, that way i'll lower my monthly payments on the car and get charged less interest.

The more you wait, the cars will just get better and you'll have more money saved up.

Trust me, I want the car pretty bad but I've been holding out on it and don't regret it at all. It'll make it easier later.

Drives: Corolla
Forum: FRS
Dedication: over 9000

[tahdizzle]

I need a fiance that will pay some bills and leave me alone! = moar car parts!

[ZionsWrath]

Originally Posted by tahdizzle

I need a fiance that will pay some bills and leave me alone! = moar car parts!

haha

When I read the marketing from Subaru of estimated 89,000 income I automatically assumed it was individual income since I am single. But when I realized it said household income, meaning 2 people, I realized it made more sense.

Then I realized I was foreveralone and maybe it wasn't so smart to buy it

YOLO?

[tahdizzle]

Originally Posted by ZionsWrath

haha

When I read the marketing from Subaru of estimated 89,000 income I automatically assumed it was individual income since I am single. But when I realized it said household income, meaning 2 people, I realized it made more sense.

Then I realized I was foreveralone and maybe it wasn't so smart to buy it

YOLO?

Preach on brother

[Mooseknuckle44]

Buy used. Always. Less miles the better. You'll be buying the car at 80%ish of it's original MSRP. NO ONE gives 20% discounts on brand new vehicles except Dodge and Ford(that should tell you something.)
Look for the ones from 13-14 with 7-10,000 miles on them. You're essentially getting a brand new-ish car for WAAAY less than brand new.
This direction is even better if you've got cash. Avoid all interest. You may even find one with some desired goodies already on it. EVEN MORE money saved right there.
Hell. Mines got 13,000 miles on it right now, lots of mods and l'll give it to you right now for $24,000 even. I love my car and l've had it for 15 months.
Same thing's happening that always happens. I'm tired of the payment. But l'm too impatient to save money.