What to do now? My car is getting repurchased by Toyota.

[Adam Anthony]

That's the best thing you can do. It will help your credit as well so when you go to purchase the 2015 model year, your payments should be lower with better credit, etc.

Also, paying off your debt is always GOOD.

[Sithspawn]

Originally Posted by P@ul

Well, if you even bothered to mention #3 then you must not miss the car that much. Pay off your debt and save up for something better. There's a bazillion new or updated cars around the corner, and that'll just help negotiate price on these cars. You could buy a pretty decent beater for $6700

Quite the contrary, I absolutely love the FR-S. It's just that the issues I've experienced (failed engine and Toyota's inability to properly repair it) have put a sour taste in my mouth. Add the crickets and myriad other minor issues and it is quite depressing, in fact. The handling is outstanding, the looks are amazing and it is an absolute pleasure to drive. The aftermarket support for this platform is also incredible so there is a lot that can be done to take this car to even higher levels of performance.

I'll be honest, the only reason for even considering Option 3 is so that I would ultimately have more mod money down the road. I'd just have to be careful on my choice of beater because if I get something that's too close to what an FR-S represents, I'll probably end up modding it. lol Yeah, I've got an addiction.

[Sithspawn]

I've got 0% APR on my credit card right now, and my student loan is at 2.4% or so. My credit is already at 740 and while it will certainly get better with paid off loans and credit cards, it won't make that much difference in the APR of a car loan.

[PSORngr]

I cringe at credit card debt so I say pay that off.

Plus the new Mustang and Miata will be out by that point. And the new WRX, if that looks anything like the concept.....*drool*

[Sithspawn]

I actually really wanted a 2011 Mustang (in blaze yellow) and love the old Mazdaspeed Miata (especially the '05 in orange). The interior on the Mustang blows goats though and the ultra close ratio 6 speed in the Mazdaspeed Miata makes keeping the revs reasonable around town virtually impossible (redline limited to 126mph). Who knows, maybe Nissan will pull their heads out of their asses and ditch the POS Juke in favor of bringing out a new S16 Silvia. I still can't believe Nissan thinks that the Juke is competition to the FRS.

[Muskokan]

Originally Posted by Sithspawn

I've got 0% APR on my credit card right now, and my student loan is at 2.4% or so. My credit is already at 740 and while it will certainly get better with paid off loans and credit cards, it won't make that much difference in the APR of a car loan.

Sounds like the debt isn't critical.. If your like me and don't mind a little debt and nice things, go for it buddy. What's your gut telling you?

Also, considered a brz? The limited has more features than the 10, minus the glowy badges and shifter, with more colours.

[Gaiseric]

Did they even try to put a new engine in your frs? Pay off half your debt with the check and put the other half down payment on another frs.

[Sithspawn]

Originally Posted by Muskokan

Sounds like the debt isn't critical.. If your like me and don't mind a little debt and nice things, go for it buddy. What's your gut telling you?

Also, considered a brz? The limited has more features than the 10, minus the glowy badges and shifter, with more colours.

Well, the debt isn't unmanageable right now and even with a $400/month car payment, I can have it all paid off within a couple years. It would just be nice to be able to afford to go to more track days instead of putting money towards the debt.

Well, I chose the FR-S over the BRZ because I like the way the FRS looks and Scion offers a cool color: Hot Lava. That and all the Subaru dealers in SoCal are marking up the BRZ over MSRP. Sorry, I'm not going to pay extra "just because". Maybe that's changed, but considering that Subaru is more likely to deny engine warranty because you put lowering springs on the car (yup, seen it happen to other people) I just don't want to take that chance or deal with that kind of asinine bullshit.

Originally Posted by Gaiseric

Did they even try to put a new engine in your frs? Pay off half your debt with the check and put the other half down payment on another frs.

Let's see, they've put 2 new short blocks in it, replaced all four cams, both cam towers, timing chain guides and now they're going to put another cylinder head on the driver side. A factory assembled long block is not available so they can't do that. The car has been at the dealer for 3, going on 4 months and they have no f'ing clue what is wrong with it. Their diagnostic skills suck balls so they just keep throwing parts at it hoping it will work. It's probably something simple and stupid that they are overlooking. Like a chain tensioner or an AVCS solenoid after the #2 rod bearing gave up the ghost at 8,300 miles.

Hmm...I like your idea about paying off half the debt. In fact, I could pay off all the credit card debt that way and just have my student loan left. That would free up a fair amount of income for other things.

[Chee-Hu]

This would be a no brainer for me. I would simply choose #3.

[yuicebox]

Listen to everyone saying option 3. Buy a cheap 240 or something and focus on paying down your debt.

As others have said, you'll get better payments when you come back and you'll have more options.

As an accountant, debt makes me cringe. Those of you saying stuff like "you'll always have debt" are approaching life with the wrong attitude.

The only debt you ever really NEED to have is a mortgage. Try to get to a point where you have little or no debt and you'll be richer than more than half of America.

Good luck!


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[Books]

I know Option #3 is the smart choice but if you are living comfortably and can afford the car payments, why would you deny yourself of something fun?

I vote for #1 BUT put the extra money towards whichever debt has the highest interest (your credit/loan debt I assume)

[ericmpena]

I took care of all of my credit card debt, but I still have student loans. Now that I read this thread I kind of wish I had stuck with the car that was already paid off and started paying off my student loans ($40k) rather than getting a new car. Now my goal is to pay off my BRZ ASAP and then start working towards my loans. Honestly though, it's better to do it the other way around. Pay off your debt first, then you'll have more options for cars in the future.

[jflogerzi]

I think option 3 but getting something that would be fun that's RWD.

[suaveflooder]

3 here as well