Young guy looking for financial advice...

[buckaroo22]

I see (what I hope are) a lot of financially savvy users on this forum, so I figured I'd get the best responses compared to other places on the internet.

The main question:
1. Do I buy a fun and affordable Scion FR-S within the next two years?
2. Do I save my money and buy a new/used C7 Z51 when the time is right (3+ years from now)?

The background:
-26 years old out of college with a military background.
-Currently working an engineering job that started me at 60k with room to easily grow into 100k+ as a career.
-Have never had debt and currently have 60k invested in index funds.
-Married, no children (no plans on kids), buying a small house next year for less than 175k.
-Current savings rate is roughly 30k per year. I invest this in index funds and other conservative long term investments.
-Spouse and I both have 10k each in emergency funds.
-Currently I have ~$700 left over each month after all saving and expenses, I could funnel this into a 'C7 Fund' until it's much bigger in a few years or get an FR-S and start hitting autox/trackdays.
-Currently drive a Honda CR-V with 138k miles, I should be able to make it last as long as I want.

I LOVE the C7. This would be my first and last fancy car or luxury item period. I rarely splurge on anything but I would be comfortable owning this car for life. On the other hand a Scion FR-S has great reviews and fun factor for the value. The C7 appeals to me emotionally, while the FR-S is what I logically should buy to get the best dollar-per-fun out of a car. Spending 15-20k on an FR-S compared to a C7 leaves me 30k leftover for autox, trackdays, road trips, etc. for a long time Owning an FR-S and then getting a C7 many years in the future seems like I should just save my money in the first place and get a C7 sooner.

What would you guys do in my position? Save and wait or spend the least for the most amount of fun? I asked the corvette forum and most of them said save and wait, but I'm trying to get as well rounded an answer as possible.

[Wise]

Don't think you need any financial advice as it looks like you already know what you're doing.

I'd go with whatever car you want more. Sounds like you want the Vette more for an all rounder and an FRS as a weekend track toy.

PS 175k for a house? God I hate the Australian property market lol.

[jvincent]

There will always be another Vette down the road. Hell, the C9 might be even better than the C7.

Realistically, you are likely to fall in love with some other car down the road. You are only 26. Get FRS now, have some fun, and in a few years get what you want then. Unless you are a hardparker, cars are disposable items.

[Braces]

Seems like the financially responsible answer is to buy the FRS now. The FRS is a HUGE step above your Honda. The FRS will make you a better driver. In 2-4 years ... Assuming your financial status remains healthy ... Then go for your dream C7.

[civdaddy]

Shit I'd ask the wife.

[Mim]

Sports cars are generally an emotional purchase, rather than a rational one. I'd go drive both. If you buy either make sure you go with the one that will leave you with less regrets.

Just be sure to do the numbers on likely running costs and cost to fix things (on either car) given you are looking to do some autox now and then so you will go through more consumables ie pads, fluids and tires etc.

Any rational person, looking purely at the fiscal side of things, would argue the FRS choice.

[juliog]

NA/NB Miata for 3-5K. Fun and cheap! Downside is it will turn you gay... the upside is that you can then leave your wife and save the money you were spending on her towards a yellow C7 Z06.

[86geek]

IMHO buy the FRS now and later on down the road you can always buy the corvette. You're young with a good financial foundation. I'm sure the next car you decide to buy will not be your last one.

[LXXXV1]

Doesn't seem like you need much financial advice. You definitely know what you're doing.

Coming from a similar background, 25 in the engineering field but no where near what you have saved up, thanks to the thieves at the University of California. If I can do it with college debt and with nothing near what you have saved, you can easily afford an FRS...

[N1rve]

Life's too short. Buy both.

[Amaya]

If you haven't already, go test drive both of them. Find out which one feels better to you and gives you the biggest smile when you drive it. After all that's the point of these kind of cars. It sounds like you want the vette, but you would settle for an frs. Unless driving them changes your feelings just get the vette and don't look back. And as far as money goes it sounds like you're pretty smart and being very responsible, so whenever you decide you can afford the car I'm sure it will be fine.

[BlueDubbinTDI]

I think you want opinions on the car you should get and not financial advice lol. At 26, you're very fortunate on your financial situation.

I say get the vette, sooner than later

[ZionsWrath]

If you really plan to track a bit, I'd say get a miata or BRZ first. I started tracking this year and seen so many people in high power cars just ham fisting them from straight to straight. Not saying that is going to be you.

Also consider the cost of consumables with a fast car is much higher.

If you can afford the C7 and to track it, sure why not. If not, I think the choice is easy.

[raul]

Financially you can do either honestly, but it depends on the types of experiences you'd like to have and when you'd like to have them. Racing is something that needs seat time and the sooner you start getting it the more you'll enjoy it. I was in a similar position 2 years ago when I bought my FR-S, where it was either getting it or waiting for something "nicer". I went with the FR-S, started autocrossing, then karting, and then tracking. Now I'm a full blown autocrosser attending state, regional and national events, and an HPDE instructor with 4 different HPDE groups. I'm glad I took the FR-S plunge because today I would still be waiting for that more expensive, nicer car and have absolutely NO experience. Learning to drive fast when young is not an opportunity everyone gets and I would encourage anyone with the means to go for it. If you can do it and keep the girlfriend/spouse/wife happy, have it not interfere with your job or life in general, do it.