Toyota GR86, 86, FR-S and Subaru BRZ Forum & Owners Community - FT86CLUB
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Toyota GR86, 86, FR-S and Subaru BRZ Forum & Owners Community - FT86CLUB (https://www.ft86club.com/forums/index.php)
-   Scion FR-S / Toyota 86 GT86 General Forum (https://www.ft86club.com/forums/forumdisplay.php?f=2)
-   -   Can I afford the FRS/BRZ? Please help me decide. (https://www.ft86club.com/forums/showthread.php?t=31398)

UnOvertime 03-18-2013 11:14 PM
At 25, I am in a similar situation to yours, but I had a lot more in savings so I was able to put down almost $12k in trade in and down payment.

Like everyone else has said you need to total up what your necessary expenditures are:
Rent, food, savings, gas, insurance and any other things that are completely unavoidable or planning for your future. Then add in the other expenditures like entertainment, clothing, household items. Once you figure that out, just plug in the values for the month with the car, everyone's idea of scraping by and living comfortably is different. Some people $300 extra is a lot and others not so much.

wootwoot 03-18-2013 11:17 PM
Seems like you can afford it to me.

It is a big purchase.... When people ask me about my car, this is what I say:

"Worst financial decision I have ever made. Coolest thing I have ever owned."

It is an illogical purchase. But god damn are these things awesome...

My 2 cents.

Immortality 03-18-2013 11:21 PM
Quote:
Originally Posted by lemonspeakers (Post 802000)
These are great tips guys! I really appreciate them.

Most of them point towards the "no, don't buy the car."
Yes I do have a significant other. That does drain some money from me as well. Forgot to factor in $50 phone bill.

By the looks of it, I cannot afford a car any time soon (or within the next 5 years) unless I get ditch my S.O., eat Ramen Noodles, get a new job that pays more than $2,400 a month.

Looks like that sucks. Do people really live like this? I've seen someone working at Pizza Hut that owns a BRZ.
And someone who delivers for a cater company with an Integra Type-R...

I guess that's a no go for this car.
Ignore those people, 5 years down the road they will still be working at a Pizza Hut and a catering company. Along with a run down Type-R and BRZ that they can't even afford to fix. Take it slow, keep saving and investing and you might have the car you want sooner than you think.

blunova 03-18-2013 11:22 PM
Quote:
Originally Posted by lemonspeakers (Post 802000)
Do people really live like this? I've seen someone working at Pizza Hut that owns a BRZ.
No, you probably saw someone working at Pizza Hut who *owes* on a BRZ. You don't own it til it's paid off - the bank owns it until then.

And yep, people everywhere buy stuff they can't afford all the time. That doesn't mean you should. There is lots to be said for the freedom of no debt and owning your things outright. Trust me, you will NOT regret it when you can put a huge down payment on a house later due to good saving habits :). Good luck out there!

jmaryt 03-18-2013 11:24 PM
Quote:
Originally Posted by lemonspeakers (Post 801642)
I had absolutely no idea what this car was when I first saw it. Never even heard of it! Design wise, it blew me awayyyyyyy! I immediately fell in love with it. The last time this happened was the 1999 Eclipse GST (Never owned it- Still lust it). After seeing the scion logo, I thought, OMG! I might be able to afford it…

Anyways, I’ve been going back and forth about this car and asking myself if I can afford it. I am just going to lay down everything about myself and it’d be nice if someone can tell me whether I’m more than ready to buy it or to wait, or I’m poor as hell.

1) I’m 26. BS Degree in Computer Engineering/ Neuroscience with 18K student debt paid off.
2) Currently employed (3 yrs) in a stable job making $2,400 a month
3) Rent total is $700
4) I only have $5,000 in the bank in total.
5) Occasionally like to go out to restaurant and movies (~$50)
6) Spend around $150 every two weeks for food/etc.
7) Living with significant other.
8) Don’t know what my credit score is, but I’m sure it’s better than 650. Let’s just say it’s 650 for now.
9) Currently drive a 1999 Acural TL. Paid off.

Can I afford this car and still live comfortably or will I be scraping by, while being careful about how I spend money?

My current car is in great condition, engine wise. I really take care of it (Amsoil, etc).
But its exterior has met idiot drivers with dents and car-door dings.

How can I afford the FRS? Can I get a great APR below 2%? What about 1%?

This car is a WANT more than a NEED. And I definitely want to own it and not lease it. Later, I want to put a aggressive exhaust, lower springs, and body kit on it.
"smart money" says wait! i see a struggle to afford everything in your life,and what is MOST important is,you do NOT know what lies ahead! your present car is running fine,and serves you well.be practical,and stay away from the debt you don't need,or want. remember! it's just a car,and you already have one! right?..right! do yourself a favor,and forget it! save as much as you can for a house,you will be much better off than floating a note for a depreciating asset you really cannot afford!..just sayin'

jmaryt 03-18-2013 11:26 PM
Quote:
Originally Posted by lemonspeakers (Post 801642)
I had absolutely no idea what this car was when I first saw it. Never even heard of it! Design wise, it blew me awayyyyyyy! I immediately fell in love with it. The last time this happened was the 1999 Eclipse GST (Never owned it- Still lust it). After seeing the scion logo, I thought, OMG! I might be able to afford it…

Anyways, I’ve been going back and forth about this car and asking myself if I can afford it. I am just going to lay down everything about myself and it’d be nice if someone can tell me whether I’m more than ready to buy it or to wait, or I’m poor as hell.

1) I’m 26. BS Degree in Computer Engineering/ Neuroscience with 18K student debt paid off.
2) Currently employed (3 yrs) in a stable job making $2,400 a month
3) Rent total is $700
4) I only have $5,000 in the bank in total.
5) Occasionally like to go out to restaurant and movies (~$50)
6) Spend around $150 every two weeks for food/etc.
7) Living with significant other.
8) Don’t know what my credit score is, but I’m sure it’s better than 650. Let’s just say it’s 650 for now.
9) Currently drive a 1999 Acural TL. Paid off.

Can I afford this car and still live comfortably or will I be scraping by, while being careful about how I spend money?

My current car is in great condition, engine wise. I really take care of it (Amsoil, etc).
But its exterior has met idiot drivers with dents and car-door dings.

How can I afford the FRS? Can I get a great APR below 2%? What about 1%?

This car is a WANT more than a NEED. And I definitely want to own it and not lease it. Later, I want to put a aggressive exhaust, lower springs, and body kit on it.
Quote:
Originally Posted by whaap (Post 801699)
Too many things play into figuring out the answer. I do have one rule though and I think it has served me well over the years. When in doubt, don't.
:burnrubber:
+1

juliog 03-18-2013 11:46 PM
With your degree, I would seriously consider moving to a different area with a hotter job market, go to Glassdoor.com and see what tech companies are paying in LA/OC/Seattle/SFO.. to name a few.

Noob4Life 03-18-2013 11:53 PM
Quote:
Originally Posted by juliog (Post 802270)
With your degree, I would seriously consider moving to a different area with a hotter job market, go to Glassdoor.com and see what tech companies are paying in LA/OC/Seattle/SFO.. to name a few.
X2 hard to believe that with a bachelor's you cant afford an frs without scrapping.

Sent from my SAMSUNG-SGH-I317 using Tapatalk 2

shawnperolis 03-18-2013 11:56 PM
Quote:
Originally Posted by juliog (Post 802270)
With your degree, I would seriously consider moving to a different area with a hotter job market, go to Glassdoor.com and see what tech companies are paying in LA/OC/Seattle/SFO.. to name a few.
Yeah dude, I didn't want to be the one to say it but that doesn't add up. I'm a 22 year old software engineer and I'm working PART TIME until I graduate and I can afford it. Maybe it is time to find a new job. :iono:

Jeong 03-18-2013 11:57 PM
im 19. put down 9 grand and got a 5.75% interest rate on it. its alot but for someone without credit its decent. i make about 1500 a month and i pay 370 a month pretty expensive.

everyone always says you have to save for your future but i feel when im that old to have fun with my money i cant even have fun with it. thats why i dont want to worry about being financially stable at such a young age. i know people say that is being irresponsible but i personally feel that they worry too much. not really calling people out, just how i feel about it.

i think that if you can afford it then go ahead. but then again, i have no debt (except my car) and no expenses. Sure every once in a while i like to go out and have fun but otherwise i dont owe money to others. i dont have to worry about sudden payments, medical covered by government and car covered by insurance.

as long as you know you have a decent amount of money left over you shouldnt sweat too much over it. i never really read into your expenses but honestly if you think you can handle it go for it. but dont buy it if you think youll have to be skimping all the time, cause youre gonna regret it. living life broke sucks. ive been there. plus im pretty sure your girl wont appreciate it.

Captain_Awesome_Pants 03-18-2013 11:59 PM
Quote:
Originally Posted by Noob4Life (Post 802297)
X2 hard to believe that with a bachelor's you cant afford an frs without scrapping.

Sent from my SAMSUNG-SGH-I317 using Tapatalk 2
You'd be very surprised then. I interview people all the time for work, and I get tons of people with their Masters interviewing for entry level. Its an over-saturation of the market. These days, specialties through certifications almost hold more water and experience is always preferred.

bcj 03-19-2013 12:10 AM
First car I bought new, I was 29. Fortunately there were interesting old sheds available before that.
Rusty, but still sound frame and mechanicals. $250 '64 LeMans - about 4 years worth. $3800 '64 Alfa GTV2000 - about 7 years.
Both excellent value for me at the time and paid for with cash.
The LeMans was wrecked and I learned my lesson fairly cheaply.
Sold the Alfa for $3500 and thought I made a profit for that period overall.
It performed (in my mind anyway) almost identically to the FR-S. Finally, a winner. Been too long.

'84 Civic S hatch new, $7400. Nice to drive. 11 years.
I tend to latch on to something that I find value in and keep it around.

The intervening years between then and now are just too embarrassing to divulge ;)
After that, I was able to buy the FR-S for ready cash and not feel it much.

Thing is, If you budget and look to the future, you can come out ahead eventually.
It only looks like a long way off right now.

Over 3 years I was able to put together $20k for a down payment on a house and property at the end of '90 and incidentals on top of that.
New roof 3 years after that. Wasn't easy, but possible.

By the way, we're talking Ducats and pieces of eight prices in ancient history.

shawnperolis 03-19-2013 12:11 AM
Quote:
Originally Posted by Captain_Awesome_Pants (Post 802311)
You'd be very surprised then. I interview people all the time for work, and I get tons of people with their Masters interviewing for entry level. Its an over-saturation of the market. These days, specialties through certifications almost hold more water and experience is always preferred.
You said it yourself, Masters graduates (usually) have no experience. They are less desirable than someone with a regular B.S. in this field. From my experience talking with recruiters and the people in charge of hiring at the companies I've worked for, they don't want to hire a Master's student because the extra schooling rarely makes them a better programmer and they have no real world programming experience (which is a LOT different than the kinds of things taught in class) Companies are afraid that a Masters student isn't going handle being dumped into the real world and will flee back to school for that PH. D.

Not trying to threadjack or anything, but I'm not even graduated and I've had so many job offers and interviews that it is hard to even wrap my head around. I guess it depends on your area, but I wouldn't call software development a saturated field.

Op, time to find a new job and buy that sports car! :happy0180:

enjoi23 03-19-2013 12:28 AM
By the way, I said I would wait a year before modding it too, but nobody waits... You'd end up seeing things in the forum and the group buy section with sweet deals that you "won't want to pass up" and next thing you know, you put 4k mods into it lol.


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