It was a good run

[Miniata]

Originally Posted by Burrcold

Dude you're still in school. Cut your losses, buy a beater, and ENJOY your college years! You'll have plenty of time (and money) when you graduate to do what you want.

This. Get rid of the FRS, remove and sell the mods separately, and take the money from the sale of the FRS and the parts (if there is any left over) plus your tax return money, minus $1000 for an emergency fund, and buy a Miata (or older Civic) for whatever you can pay cash for one. No more debt. Don't get comp/collision insurance, you'll save a bunch more money that way. Without comp/collision the insurance on my Miata is $12/month.

[beesmiff07]

Most importantly get something that you wont regret having...I made that mistake with my trailblazer...I wanted out of it on month 2

[jmaryt]

Originally Posted by fistpoint

Since you're directly asking for the advice, here's some:

When you make your next big purchase you not only have to be able to afford it, but you also have to plan for the unintended events, namely losing your job. If that event occurs you must have enough money saved up from each month you did have a job to carry you over at least 1 year while still paying all bills.

If you cannot do this, then you do not buy the item you are wanting because you cannot afford it. What if this was a house instead of a $25k car for example? You'd be financially screwed by a factor of 10.

Another example: you have a brand new car with a 5 year payment, does that mean when it's paid off that you can now freely spend the money you were using for monthly payments on other stuff? No! What about the next car? You keep making those payments(saving account, etc.) past the 5 years as if you still had payments to make, so that when the car is dead you have enough for the new one rather than starting from scratch like everyone else in America that is $10k in debt because they do not follow these examples.

10k? most owe a lot more than that,but your point should be well taken by him! just sayin'
get rid of the frs,and buy a well maintained older civic for short money.(no bank loan)).financing a "depreciating " asset
in your situation is tantamount to tossing good money in a hole and touching it off. don't hurt yourself that way.
car's not worth your future financial security.why handicap yourself?

[alexb99]

Originally Posted by Celica00

so because life happens and being a college student, it can also be unexpected. but life bit me hard in the ass recently and i might have to give up my FRS which quite frankly eats me up inside. so 2 things

1. my car has 10,000 miles and was purchased in may. what is the depreciation? i also have about 2200 dollars in aftermarket parts. does that matter? i've paid about 4.5k of it off so how much will i be upside down.

2. what are some good cheaper (8k to 10k) cars that i can get in it's place that will maybe lessen the blow of losing it?

hopefully life will get allow me to keep my FRS but odds are low.

I think a Toyota MR2 would be a decent replacement.

[Celica00]

thank you all for the advice which i'm definitely adhering to. so what i'm ending up doing is selling the frs (which hurts but oh well) and buying a cheap beater until i finish up school. once i have my career in order, i'll just buy a used FRS or a new one again once i have financial means. i'll still have my fun college years then afterwords get my dream car. cool.

[rice_classic]

10k in debt.. what a dream come true. I think I'm about $325k in debt.

I get my inspiration from the government.. The more debt I have, the more I have!

[n2oinferno]

Originally Posted by Celica00

thank you all for the advice which i'm definitely adhering to. so what i'm ending up doing is selling the frs (which hurts but oh well) and buying a cheap beater until i finish up school. once i have my career in order, i'll just buy a used FRS or a new one again once i have financial means. i'll still have my fun college years then afterwords get my dream car. cool.

As everyone else says, definitely look at older Miatas. Parts are cheap and the aftermarket it plentiful. They're a joy to drive. I just feel really, really tall every time I sit (and barely fit) in one. Almost makes me feel a bit unsafe, and yet I still consider it.

Other, better cars will come along. Figure five or six years from now there will be a new hot version of the FRS/BRZ. And maybe a couple offerings from other brands as well. I'd really rather not be driving a Camry right now, but priorities..

[Synack]

+1 on late 90s beater Civic or Accord

#1 - It will get you around without costing you much
#2 - If you do get back into a job or a better situation, you can pretty much sell the car for exactly what you bought it for.