Ok I have a problem. I drove my car at a on track solo event on sat. (as I said in my other post) Anyways I rode in a ITR prepared first gen that is for sale for $7500. Now I need a car for next season or I'm going to have to rent a racecar which is $$ in the long run. Now here's the problem. I'M BROKE! I'm 16 and getting a job very very very soon. But if I'm going to get this car I need to make an offer or somthing. Now my 83' LE might be going to the guy as part of the price if I decide to get the racecar. The car is streetleagle also so I could drive it seeing how my car would be gone. Now do I take a loan for the remaining amount or do I just pass this up?!?!? My parents can't help me out right now. Except for my dad co-signing a loan which he doesn't think it's worth it. But I need a car for next season and this one is already set up for the local track, and I get his notebook on the car. So what do you guys think get a loan or not? HELP!

 

Pass it up. Wait 'till you won't be dumping ALL your money into one thing (car loan payments, insurance, gas, oil, parts when stuff breaks, etc.)

There are other cars out there.

 

Well my parents pay for my insurance. And the car is pretty much brand new the guy just built it. I alrdy have my 83' which is costing me more to maintain than this other car will. Any other opinions thanks for yours manntis.

 

Careful that you're not rationalizing or looking for affirmation of something you really want...

A loan, etc. is a big step especially for a streetable racer. If you can't afford to break it, you shouldn't be racing it, and in this case you can barely afford the car itself.

Take this as advice from someone who's bought things in the past because they seemed like a good idea at the time, and they've turned into money pits...

 

Your Dad is correct, it's not worth it. Given your financial situation, there is no question about it, absolutely positively pass it up.

 

Yea..... no racing till next year also. I know I'm rationalizing right now but I think we all do it lol. I'll give you the run down on the car. It's got full cage and saftey gear (lots of cage padding). A upgraded carb, adjustable suspension all around. And many other goodies. Car still has heat and all functioning lights and what not. The car would be bought and basicly garaged until spring. So I would just have to make the bank payments. As I will be driving another car for winter.

 

Ok I get the picture thanks for the input doesn't look like I'll be getting this one....

 

As a fellow kid in a similar financial situation I know how you feel. But you really don't want to buy a car on a loan. I know its really tempting too, but I've been there, you'll get over it and find another car more in your price range.

 

Yea the payemts would be $215.74 for 12 months. The only problem with finding another car is. I need a racepreped one. So I have somthing to get my comp. license in next year. Oh well we'll see what happens...

 

What kind of racing is it for? Wheel to wheel or just autocross?

 

Wheel to wheel, could always run a autocross here and there if I wanted to though.

 

Keep in mind wheel to wheel racing is expensive. If You buy it, I wouldn't race that car until it was paid for, since you have to keep buying tires, paying entry fees, etc.

Plus if you wreck it bad enough, you're out a car. Paying payments on a totaled car would suck ***.

Sounds like an ok deal for that car though.

 

Yea the car should be about half paid before I race. Local entry fee is $85 for the weekend. And I should be able to get by on one set of rains for the year and 3 maybe 4 sets of slicks. I'm just going to run enough to get my comp license probaly.