Hi everyone
I'd just like throw some things out here for some discussion.
I am 19 at the moment, turning 20 this year. Recently I've been trying to talk myself out of buying *another car, and have pretty much convinced myself not to.
Of course, like many young guns out there, I'm into driving and owning a car that feels like a part of me. Last year, I was in a comfortable financial position to buy an S2000 ($45,000) and hell, I was a fingernail away from doing it except my finance company did not accept the terms of my insurance. I then settled for an MX-5 which cost me just under $25k altogether.
Since then I've been doing a lot of thinking. I'm sure no one here thinks $25,000 is little money. But owning the MX-5 for 6 months I realised how much more money went into it, and suddenly I was making sacrifices I don't usually make, such as eating out, buying things I want etc. Of course, if I had that S2000 it would've made things a lot worst. But the worst thing about it for me was that it delayed me moving out of home because of the debt.
Since then I sold the car for almost what I got it for, and have used that money instead to invest in some cracking-good property in Sydney's King Street Wharf, which returns me a decent income every week. I'm now thinking of getting another place, or expanding my fruitful e-business.
I've always had in the back of my mind, the last thing I ever wanted to do, was drive a good car and be wrapped in debt, going to uni and some crappy job, living with parents. I realise that this is what a lot of us do, and there's nothing wrong with that, and I was headed that way myself.
I have always been independent, and have never sought much financial assistance from my parents. We are by no means rich, and I like to earn my living, paying for uni fees and living costs etc... So that 20 or so thousand, is hell of a lot to me.
So lately I've had some friends my age, who have just drowned themselves up in 30k+ debt to buy a sports car with their own income, and think... F**k does he know what he is doing? This just guarantees a budget lifestyle for the next 5 years at least... If he is buying it to pick up girls, I'm sure it'll really impress them when the only place he can bring them back to is his parent's house.
And I know a lot of us young car enthusiasts here are lucky enough to have their parents buy your first car for you, and a decent first car too. I'm not here to debate how lucky you are, but just think for a moment what you could do with $45k in your hand.
I'm now driving a shitbox $5000 car (haha lol) and I'm living as comfortably as ever, no debt to worry about, no hesitation in buying things I want, earning a decent income. I've made a commitment, to save it all for getting my own place - because to me, the satisfaction of having your own apartment/house/whatever is more than anything a car can give at the moment. I've never had more peace of mind before.
If you are like me, how did you justify this?
If you are past this phase, think back to when you were in it, and how do you feel about your decision now?
Cheers
Daniel
I'd just like throw some things out here for some discussion.
I am 19 at the moment, turning 20 this year. Recently I've been trying to talk myself out of buying *another car, and have pretty much convinced myself not to.
Of course, like many young guns out there, I'm into driving and owning a car that feels like a part of me. Last year, I was in a comfortable financial position to buy an S2000 ($45,000) and hell, I was a fingernail away from doing it except my finance company did not accept the terms of my insurance. I then settled for an MX-5 which cost me just under $25k altogether.
Since then I've been doing a lot of thinking. I'm sure no one here thinks $25,000 is little money. But owning the MX-5 for 6 months I realised how much more money went into it, and suddenly I was making sacrifices I don't usually make, such as eating out, buying things I want etc. Of course, if I had that S2000 it would've made things a lot worst. But the worst thing about it for me was that it delayed me moving out of home because of the debt.
Since then I sold the car for almost what I got it for, and have used that money instead to invest in some cracking-good property in Sydney's King Street Wharf, which returns me a decent income every week. I'm now thinking of getting another place, or expanding my fruitful e-business.
I've always had in the back of my mind, the last thing I ever wanted to do, was drive a good car and be wrapped in debt, going to uni and some crappy job, living with parents. I realise that this is what a lot of us do, and there's nothing wrong with that, and I was headed that way myself.
I have always been independent, and have never sought much financial assistance from my parents. We are by no means rich, and I like to earn my living, paying for uni fees and living costs etc... So that 20 or so thousand, is hell of a lot to me.
So lately I've had some friends my age, who have just drowned themselves up in 30k+ debt to buy a sports car with their own income, and think... F**k does he know what he is doing? This just guarantees a budget lifestyle for the next 5 years at least... If he is buying it to pick up girls, I'm sure it'll really impress them when the only place he can bring them back to is his parent's house.
And I know a lot of us young car enthusiasts here are lucky enough to have their parents buy your first car for you, and a decent first car too. I'm not here to debate how lucky you are, but just think for a moment what you could do with $45k in your hand.
I'm now driving a shitbox $5000 car (haha lol) and I'm living as comfortably as ever, no debt to worry about, no hesitation in buying things I want, earning a decent income. I've made a commitment, to save it all for getting my own place - because to me, the satisfaction of having your own apartment/house/whatever is more than anything a car can give at the moment. I've never had more peace of mind before.
If you are like me, how did you justify this?
If you are past this phase, think back to when you were in it, and how do you feel about your decision now?
Cheers
Daniel
The 2003 DC5R landed in my hands 1 month before i was 21, and ive loved it since, i didnt do it for the girls, its simply because i love the thrill and can proudly say i own my own car instead of having parents buy it for me etc, although they did help abit across the final hurdle.. 
![.::F[L]Y::.](./core/customavatars/thumbs/avatar149_2.gif ".::F[L]Y::."){kind=avatar}
)...I think I still have a lot of time to enjoy buying a car that I like when I've concentrated & earn enough money to get one in the future. (At the moment...already saw a job that could offer me a car loan as a benefit with the company...hmm..it's tempting...cos the new JDM CTR is so very tempting 
...if pay & loan is alright...I'll fall for buying a car again 
...the hands would just feel itchy if I can't drive anymore for a long period of time 
...already playing Battle Gear 4 heaps to relieve the symptoms 
Comment