I've wanted an FD for a long time now, and I am going to be making inbetween 3k and 4k a month with my new position. my rent is $425 a month, and misc. utilities and stuff will add up to an extra like $200. I am 21 years old, no tickets or anything. My credit is average. Not great but not bad. The question is do you think I can afford to make payments on an FD if I can finance one,as well as pay for insurance and my other bills every month? Also I am not planning on making it a monster, so I won't be dropping tons of cash into upgrades. Just mild power add ons. Any input will be greatly appreciated.

 

Start by trying to nail down a few unknowns.

How much will insurance cost you? Try going to www.insweb.com and get some estimates.

Many people have reported problems getting financing to purchase an FD. Remember, these cars are 8-10 years old now so you need to contact some banks/credit unions and determine if financing will be an issue. For estimating purposes figure the car will cost approximately $16,000 plus 8% sales tax since you are in California. Determine how much will you put down, how much they will let you finance for how long, and what your payments will be.

Depending on the car you purchase you should immediately do the reliability mods that could cost $500 - $1000 depending on how extensive you go. Finally, during your first year of ownership figure you "may need" to spend an additional $100 - $200 per month just to get things right such as tires, brakes, battery, hoses, filters, spark plugs and wires, troubleshooting, etc.

It ain't cheap, and I hope this won't be your daily driver because if you have any problems the car may be down for awhile for frustrating troubleshooting.

 

i'd say until you can pay cash w/o taking a loan for it and having a few grand extra you should get a really cheap car (i.e. 92 civic or s13)... then just start plunking in your extra money... if you start to notice that you don't have too much after each month then the fd is not for you... however, if you are dumping 1k in each month, they maybe you should consider purchasing one in a year or whatever... don't let a car screw your credit!

 

If you have to ask...

 

are you going to be using it as a daily car?

 

$425/mo? You're sharing a place with someone else right?

I can't find a cr@phole appt. around here for less than a $1000. Freaking So Cal. >

 

yeah we are sharing a brand new house in norcal. 4 of us. yeah i heard socal is super expensive.

the "if you have to ask" comment. i hate it when people say that. im sure a majority of the fd owners on here asked themselves that based on the kind of car, what its needs are, yadda yadda yadda. even the smallest purchases are thought about in terms of affordability.

also it probably won't be my daily driver. nights and weekends mostly you know, when i have a date or when i just want to mash around in.

 

The reason you got that "if you have to ask" comment is because there are about 10 posts in the last 60 posts alone that ask the same question as you. Do some research and think about it yourself before you ask strangers if you can afford to do something. I highly doubt before you moved into your house you got on a forum and asked people living in n. cal if you should move into that house. Look through these posts and read, if you haven't spent atleast a week reading every post and website you can get your hands on. Keep the car you have now, learn more about an fd, find out insurance and IF you can finance one. Then come back and ask your question once you have all the variables filled in and then most of the people here may not laugh at your question.

 

I am of the opinion that if you have to ask if you can afford it then you probably can't.

 

figure around $14-16k for the actual car...and just search stuff on this section of the forum for the problems people have, and estimate those costs into ur "in-case **** happens" fund. I am 16 years old and i drive a FD as my daily with no problems. I also paid cash for my car.

-Zach

 

Sorry, I may be completely off base here but when I hear a 16 old say they paid cash for their car, my immediate reaction is to think no you paid $0 for your car, somebody else paid the cash for you.

 

worked the past two summers, had $7k in the bank, and my dad loaned me the other $7k, which i have paid off all but $850 starting @ last september, if you must know the specifics. Bottom line im paying for 100% of my car and im not getting it as a gift from daddy with a big red bow on top of it.

-Zach

 

and how i worked @ 14, i started my own car detailing business and i have done quite well.

 

I think that's great and you should be proud of what you have accomplished.

But the original poster and most of the rest of us have to also pay all of our own living expenses including clothing, food, utilities, and a place to live. So please keep that in mind when you go bragging about paying cash for a car.

 

I take a lot of pride in this car and what i have accomplished, so thanks for the props! I just get a little tired of hearing about "the car my dad bought me" lol. And yea, i fully know how many more expenses all of the older guys on here have to worry about.

-Zach

 

I can barely afford my FD, but who cares??!! no, really, it sounds like you can afford it. I was making less than you when I bought mine last year and had more bills. Just find a good one that you won't have to dump a lot of money in right away and do your homework on the car...LOTS of it. If you really really want it, it won't matter what advice we give you because you'll get it, and thus, become one of us, or at least me because practicality is not a high priority for many of us when it comes to buying or modding our hobby/obsession. If it doesn't make you broke, go for it, I can't think of anything else I'd rather live paycheck to paycheck for ;-)

 

Btw, don't take my advice, but do try www.peoplefirst.com.
My credit is OK, but not the greatest and I was financed in 10 minutes for the full price of the car at 4.9% They are a pleasure to do business with.