2013 FRS 125K
 

Hello everyone!


I am currently in highschool and I just wanted to know if buying this car would be great for me. I make about $700 biweekly working minimum wage $15 which totals to 1400 a month. I dont really have any expenses other than paying my life insurance which cost me $100 a month.I also am in need of a car because 80% of the time, I am either late to school or work due to weird bus arrivals.

let me know please


https://ibb.co/6tCBB2b

Buying the car is just part of it and you could probably manage that. Have you checked what insurance would cost? Maintenance , fuel, tires etc are also going to cost you. do you have any saved cash to lay down on it?
You have landed the very worst time in the last 40 years t buy a used car since you will pay way more than you would have 2 years ago and there is no end to these prices in sight yet. Normally I would say to pick up a cheap beater but even they are costly right now.

Hey Karl. Do you have a wife and/or a child? Assuming you do not, why in the world are you paying for life insurance?

As for your question, you don't say how much you would pay for the car. A 2013 FRS is a reasonably reliable car and if you can get it at a reasonable price, it may not be a bad choice. The operative question is what are the alternatives/costs etc.?

I can only assume a teen's insurance with a FRS is going to be steep and a good chunk of teens struggle with self control so a sports car is just asking for trouble lol. If the FRS is cheap af then maybe why not but I doubt you're going to get it for less than $10 K with current market.. as a teen probably best to find a true beater something under $5 K like an older civic/accord/corolla/camry/liana or even some really underappreciated older gm sedans are dirt cheap since no one cares about them like they do older japanese cars.. when car market settles down and 2nd gen production ramps up, 1st gen twins should get cheaper.

This statement has always bothered me a bit. I know as a teen I could get in trouble with a beat to hell old four door sedan just as easily as with a sports car. In some ways the sports cars were actually safer as they were at least basically designed to do the shit I put cars through!

Idk, that wasn't my experience, yes I had a buddy who hooned in their caravan but i most remember the dudes who had a corvette, wrx, civic si, accord coupe and eclipse only to crash them during high school. Accord in particular was hilarious, tried to drift a corner and there came the curb.. the folks that got stuck with crvs and corollas managed to keep them all through college! Small sample size but I have experienced friend's children doing same shit.

If it’s any of the FRS for sale around Calgary, they are overpriced AF.


Including my own car lmao.

but it does have a point. if i had a rwd camaro in high school, the cops would have definitely increased laws about doing donuts in the middle of intersections, and i would definitely have been on a first name basis with highway patrol. at 15, i got my mom's suburban stuck in a snow drift doing donuts when i wasn't supposed to. at 18, i learned 1996 ford rangers trigger the check engine light when they hit 100mph... i had a bad history with rwd by the time i was 19...

i mostly refrained from doing this with the car i finally bought, as 1, it was fwd and boring, 2, the best way to do a donut was in reverse, which looked stupid and funny, and 3, the best way to control the donut was to lock the e-brake, which made the dash light up like a christmas tree, but made perfect circles.

best car for a high schooler is a chrysler. they're cheap, and reliable...ish... getting a toyota for a first car is a bad idea, it sets one up to think that all cars are reliable. best first car is a shitbox that you can leave the keys in and no one would steal, that has a pandora's-box reliability. it teaches, maintenance, adult choices(ramen this week, or that new starter?), and falling equity...

Nah. If my parents let me have that Mustang I wanted, I would have done more stupid shit.

Hmmmm it would appear that the counter responses to my statement mostly revolve around "if" I had such and such a RWD car things would have been different. This may show the generational changes since when I was a teenager all cars were RWD so it didn't matter if you had a Mustang, challenger or Buick Electra they could all do pretty much the same things.
It seems that the thought is more centered around the mystic of the drive wheels than the actually beating of the car.
A teenager that starts out driving RWD should in theory be better at it than a 30 year old that has driven only FWD for a decade or so.
I still maintain that even today a teenager will try to drive a Dodge Caravan as hard as any FRS/BRZ and it is just not designed for that type of use.

@karl_boss are you going to answer the questions?
Do you really want input?
Are you actually just a really good Bot that will add a link to male enhancement pills at some random point it time?

My life insurance is just a way to build my money, my parents set me up for it and once I turn 30, ill be receiving 300k or somewhere around there. As for the car, I spoke with my boss and asked for a stable pay. The car is around 15k, quite pricey but is my dream car, I’d do anything. Ill be financing the car so, I also want to build a strong credit.

You’ll have to explain what you are talking about because this makes zero sense to me. If you have some sort of “whole life” policy that has an equity component, my personal feelings are generally they are pretty poor investments.

When I was your age I had sports cars that I could afford to buy and keep because I was the second or third owner. Some of them were from the 1950s to give you some perspective. Basic insurance and I did my own repairs and junk yards were still a resource to rely on. Then I got to buying cars that I could afford to buy, but did not give much thought into what it cost to keep it on the road. Don’t make that mistake. But, get out a pencil and paper and run the numbers. If you can make it work, do it. I will always have those memories of those MGs, Austin Healeys, Mini Coopers and all my friends from that time as we helped each other to keep them running. Coulda, woulda and shoulda is a big pile of regret 50 years from now.

I need to more about this life insurance investment plan that pays out $300k in 30 years. I could sure use the money now, but waiting 30 years for it is ok too.

Well I was at the point where, I really didnt have a choice but to agree because my parents were already signing everything, But I believe I can cancel and get the amount I put into it for the past year.

Ive thought about the numbers, Ive asked questions about my coworkers payments and stuff. I believe I would be paying about 40-60% my monthly income, nothing big as I have little to no expenses. I also thought about taking a gap year after high school to just work and pay it off.

40-60% is insane regardless of who you are or what you make imo. I’d stick to 20% of your net pay for a monthly payments MAX. Don’t forget your insurance, maintenance (won’t just be oil changes on a 125k car) and the rising cost of fuel.

If all goes well, and I save a good chunk before I turn 18, i might be able to bring that down to 30-40%, really depends on how much I put down on it. Im planning to save atleast 5k which would make the car 10k.Then during gap year, just pay it off. I believe I got it under control as long as I stay focused

I’m still trying to figure out how life insurance on YOU would ever pay YOU anything - and certainly not 300k when you turn 30. You realize that generally life insurance is something you pay for every month so that someone ELSE gets paid a big benefit if/when you die (that’s called “term” life insurance). The reason why you have it AT ALL is if you are married (or I would say have kids) so that if you die, they aren’t out on the street and hopefully can go to college.

There are insurance “products” in the U.S. that wrap an investment up with life insurance (generally called “whole life”) such that you have equity in the policy - but I think they are generally a bad idea ESPECIALLY if you are young and single and should have no need for life insurance at all.

I really hope your parents haven’t convinced you to purchase life insurance on yourself that names them as beneficiaries.

Not 30 years - when he turns 30 - sounds like about 15 years for him.

I really dont know honestly, all I know is I could either withdraw it when I turn 30 or keep it and withdraw once I wanna retire.

FWD cars suck. Stay away from them.

@karl_boss

I graduated high school 20 years ago and was gifted a Toyota Camry by my parents. It was cheaper on fuel, tires, and insurance than the 86 / FR-S / BRZ. I could fit more people in the 4-door car and go on road trips. I didn't have to worry about keeping it washed and waxed and wiped down all the time. It was a much easier to leave that car parked in campus parking lots for hours than my BRZ is. And it was easier to blend in when I needed to.

I wouldn't get a BRZ unless I had excess income, saved money for down payment. BRZ's are not cheap. If insurance in Canada doesn't convince you, the other maintenance and fuel costs will.

I have no idea what you are talking about but it doesn't sound like life insurance.

Put it this way, assuming a pretty decent 8% return on investment, and assuming a straight up investment with no life insurance component, you would have to invest $875 a month to have $300,000 principal after 15 years.

Also gotta put aside money for a set of winter steelies and rubber too seeing as you're in Calgary. Insurance for sure will be what kills you imo. There are slightly older guys in their 20s with longer driving experience who pay an arm and a leg for insuring their frs/BRZ.

oh, i remember those days. having everything under control, always having a plan, and thinking that plan means anything.

and then 4 months into that plan someone else blows a stop sign.

https://live.staticflickr.com/5155/1...ac167ff1_k.jpg

Don't overthink it; if you like it, buy it. Deal with the problems when they come up.

When it comes to used cars, you can usually tell right away if the previous owner has taken care of it. Things like uneven paint, weird panel gaps, grungy engine bay, interior carpets that are faded, all the usual signs that the car has been neglected. you can also do a car history for mechanical maintenance records. Good luck!

This looks like in or near Chicago. Exactly why I and most of my friends gave up motorcycles.

and also why i've never picked up motorcycles. despite the appealing prices and ease of tinkering...