Need help figuring out if I can afford an FR-S.

[BrianFRS]

Thank you everyone for the speedy replies, I guess I didn't want to face the facts, but this definitely puts things into perspective. I honestly did think I could manage it, but obviously there are more factors that come into play.

As for my bike, I bought it brand new @ 5.9% interest. So it totaled around $11k, which was a bad idea to begin with, since it was $8.5k MSRP. I've definitely learned from that mistake, so I just don't want to go down that road again, especially not with something twice the cost. And as for the insurance on it, it's around $40 month. But it's the lowest one, so it's not full coverage. And I would definitely want to be fully covered in a new car.

Anyway, thanks guys, I guess I'm just being impatient, but I won't make any decisions till everything is laid out properly.

[ayau]

I'll rent you my BRZ for $250 per month. I barely drive it, lol.

[BrianFRS]

Originally Posted by Shutter

I know its a ways away, but if you want me to check out used cars with you when you're looking at buying, send me a pm on here.

Thanks, Shutter. I think once I've dealt with paying off the bike, I'll just aim towards a new 2013 model. Something about putting on the miles myself and being the sole owner is very enticing.

[BlueDubbinTDI]

No, unless you sell the bike.

[BrianFRS]

Originally Posted by BlueDubbinTDI

No, unless you sell the bike.

That's definitely going to happen before I even set foot on a Scion dealership.

[forzajuve]

If you have $650 of "free spending cash" after all your expenses at the end of the month then getting an FRS on top of that will may put you in the hole. So unless you can free up some expenses it doesn't seem worth it.

For example, If you have to pay ~300-400 dollars for the car payment, don't forget to add insurance for the car ON TOP of that car payment. Give or take you could be spending around ~$550+ per month on car expenses (gas, insurance, car payment, potential mods). And trust me, you will probably be driving a decent amount, car fill-up vs. bike fill-up is night and day.

Now, if you could somehow make it so that you have ~$1,000 of "free spending cash" then I would say you are OK.

[Silver Ignition]

Look into a lease? I leased mine...low payments, warranty, Scion Boost service, option to buy at the end of the 3 years...can't lose really...I opted for the 3 year- 60k mile lease on the 10 Series an it put me at $404/month...they were running a $279/mo 36mo/36k lease special on the standard FRS


But then again, I'm also left with around $2200 "free-spending" money after all bills including insurance on 3 cars, two bikes and the FRS payment...so it was well within my means...


All comes down to you...lay out all your bills for the month, divide by 4, open a second checking account with an auto transfer every Friday and set up all your bills to pay out of that account, let that run its course for a month or two and see how much you're left with to play with...go from there. Make mock loan payments and insurance payments t for a month and see if it's doable. If you have to take from the "mock load fund" then you cant afford the car.

[continuecrushing]

also, you have to factor in money for mods lol

[TM]

Can you afford it? Yes.
Should you get it? Probably not.

[86-tundra]

Originally Posted by fender9530

You should not. And I would sell the GSXR too...financing toys always means paying too much.

Lol this is a ridiculous statement. Financing is cheap!

[forzajuve]

Originally Posted by trevorovert

Lol this is a ridiculous statement. Financing is cheap!

Financing can be cheap but it entirely depends on his credit score, down-payment amount and how many years he will be financing for.

More importantly, and perhaps you will know, given his driving record,

2 tickets/ 2 minor accidents

AND the fact he is 24 years old, will a bank or dealership/bank let someone with that background and being that young finance? Has someone ever been denied financing or w/e? Seems like he has a few things working against him...

[suaveflooder]

Originally Posted by trevorovert

Lol this is a ridiculous statement. Financing is cheap!

Speaking of "ridiculous statements"

[whoster]

There are cheap ways to finance, but 5.9% is definitely not it...

[86-tundra]

Originally Posted by suaveflooder

Speaking of "ridiculous statements"

(if good credit easily) finance <2%

easily invest >2%


dunno what's ridiculous about that
regardless of OP's situation, it is not fair to say about every situation that financing is expensive.