Am I going in over my head?

[pskelly]

I've been shopping for a type-R for a while now and I found one I think I'd like to buy but I'm not sure if I'm stretching my money too far. I know its something I have to decide myself but I was hoping for some opinions and/or personal accounts. Here is the situation. I make between 1100-1300 a month. I give my dad 100 for rent and my cell bill is 100. If I get the type-R my car payment will be 277 and my insurance will be 245. So far that leaves me with 378. I usually spend 50 a month on gas so ill raise it to 78 just in case. So I'm left with $300 a month for food and whatever else. What do you people think. Is that enough spare money or am I cutting it to close?

[Dave_B]

Sounds a little close to me. Especially if this is going to be your "only" car.

I mean, yes it will be a personal decision for yourself but IMO that's a little too close for me.

[pskelly]

The only other thing I can think of is to horde my money until I have a couple thousand to put toward the car to lower my monthly payment. If I could find someone to buy my current car with mods for 6k I think I'd be more comfortable with buying the type-r but I've only been able to find someone who wants it stock for 2k.

[Erik95LS]

The only other thing I can think of is to horde my money until I have a couple thousand to put toward the car to lower my monthly payment. If I could find someone to buy my current car with mods for 6k I think I'd be more comfortable with buying the type-r but I've only been able to find someone who wants it stock for 2k.

whats your current car?

[pskelly]

97 ls, 190k miles, no ac, crappy paint.

mods on the car:
-Tein FLEX
w/ EDFC
-15x6.5 SSR Type-C
w/Toyo T1R
-Comptech Ice-Box
w/ K&N cone filter
-(replica)Mugen cat-back exhaust
-JDM ITR(98+ spec) Front sway bar
-JDM ITR(98+ spec) Rear sway bar
-(replica)Comptech subframe brace
-Mugen Pedals

mods off the car:
Mugen Front strut bar
Mugen Rear strut bar
(replica) CF Spoon mirrors
JDM ITR climate control
JDM ITR arm rest
JDM ITR shift area
JDM ITR cup holder

[Doespike]

$245/mo for insurance? That'd kill the idea for me. Damn. I think I'd wait until that number drops (driving record cleans up/pass age milestones/whatnot). GL with the decision.

[Dave_B]

I pay close to what your paying...

BUT

I have 25k worth of insurance on my car because of a stated value policy.

Your Ins seems a little high, any reason for that? Accidents, tickets?

I pay what I pay with 0 points and no tickets in the last 5 years.

If it were me, I'd save up about 5k and put that down. That should give you around 150 payments for a 12k car.

[Dawn, Destroyer of Worlds]

Don't forget all the other little costs that you'll probably be more anal over if you get an R.
I spent way more cash on maintaining my R than on any other car I owned. Everything from washing her WAY more frequently, to the paint maintenance (waxing and polishing and all that), to more frequent fluid changes using extremely overpriced oil and such. ( )
Plus you're going to want to save up dough for security stuff. The club, the boot, 546889 alarm systems, and a rabid dog to sit in the backseat. And rabid dogs aren't cheap.

Just some more things you should think about.

Either way, kudos to you for actually putting some thought into it.
Cheers!

[pskelly]

Thanks for all your input everybody. I've decided to wait it out. I'm going to save a few thousand and sell any after market parts that wont fit on my type-r.

[YellowKahuna]

What company insures your car ?

[pskelly]

It was Geico but I switched to my credit union because it was $15 a month cheaper.My insurance is currently $80 a month on my LS with minimal coverage. But because I would be financing I would have to have a lot more coverage. I don't know if that quote is 100% I just did an online quote but I'm sure its not too far off.

[ITR010342]

If you can...I would part out the ls to the bare minimum to make a few bucks and be able to drive it. use that as down payment and to reduce payments. your insurance will be a heck of a lot cheaper of you have the ls as daily driver and type r as seldom driver... having two cars dropped my insurance to $1300 a year with the Saab and type R.... my $0.02!

[Chris N]

Thanks for all your input everybody. I've decided to wait it out. I'm going to save a few thousand and sell any after market parts that wont fit on my type-r.

good decision. why is your ins so high? that is really VERY high.

[Dave-ROR]

Thanks for all your input everybody. I've decided to wait it out. I'm going to save a few thousand and sell any after market parts that wont fit on my type-r.

good decision. why is your ins so high? that is really VERY high.

Yeah, he might be young though.

I pay less than $200 a month for insurance 100/300/100 $500 ded. with $25k in renters insurance. The cars are a 00 GS-R and a 06 S2000.

There was a time where my insurance bill was over $300/month for just the Integra but that was after an accident. Last time it was in the mid $200s for a single car and a clean record I was 20..