Hey Guys...

No Questions here. I just wanted to share with you some research I've been doing as I am nearing the purchase of my first 3rd Gen.

First off: I'm 29 years old living in Atlanta, GA. It's VERY expensive to insure a car in Fulton County. I have NO tickets on my record, nor do I have any major claims/accidents. I make a decent living. For people curious, ~$6K-9K monthly. I work in sales. My major obligations are mortgage payments, 401K, IRA, life insurance, credit card. I currently drive a 2000 Nissan Maxima, GLE. This car is leased.

Thoughts on insurance first: my insurance runs $760 every 6 months, 100K/300K/50K for the maxima. The FD will be $840 every 6 months, or $180 more a year. If I add an alarm, reduce coverage (minimums for owning are less than leasing), the cost for owning an FD is only $28 dollars more every 6 months. USAA give the maxima a 2 (scale of 1-3) for injury rating, as well as the FD. USAA gives the maxima a 17, symbol measurement, as opposed to 23 of the FD, this is on a scale of 1-27. One being the least expensive. Symbol is overall safety, etc. While ensuring, be certain you have gap insurance if not paying cash to cover any financed upgrades or high priced vehicles, as payouts are often basedon blue book. Additionally, keep pics and records in the unfortunate event of a claim.

Gas: I calculated miles per gallon between the 2 vehicles. FD will cost me about $500 more per year, based on 15K miles annually and $1.65 cents per gallon. I figured 14 miles per gallon with the FD, and a CONSERVATIVE 20 for the max. This cost is more then likely going to be $700 per annum.

Depreciation: FD's are likely done depreciating, relative to other vehicles. My Maxima depreciated 13,000 over 3 years. CARS ARE ALL EXPENSIVE. Instead of "paying" for depreciation, I will be putting that money in maintenance. I also will have saved $$ for payments. My FD will be $100 a month less than the maxima.

Reliability: Very different schools of thought here. My take (based on speaking with enthusiasts and mechanics..I HAVE NOT OWNED YET). The car will require maintenance. Probably $1,500 to $2,000 annually. The rotory is reliable if you put some time into it, like any other used car. If you beat it, neglect it. It won't be so sexy to you. My last Maxima, 1991, was a one owner car with all maintenance (my parents), I lost the tranny and timing belt at the same time. 2 used cars in 3 years, $7,000 out of pocket. CARS ARE EXPENSIVE.

FOOD for thought

 

Damn, cars are expensive aren't they?

Since my insurance bill for next year just came in, I thought I'd throw this out for all the youngins looking to get an FD. I'm 19, I've never been pulled over, never been in an accident. I pay $2435 a year for insurance. I hate having to pay for the reputation of being a young male with a little red 2 seater.

 

You have the means to own an FD, however owning one is not ever going to make sense financially.

If you really want an FD (and only you can decide this), I would also suggest another car. Get yourself a good reliable used car as your primary and put the FD as a leisure car. If you can...pay cash for the primary and only insure it for liability.

I also have USAA and you will get a multiple car discount and the FD insurance drops for use as a leisure vehicle. Your total insurance will be higher...but not by a whole lot.

With a second daily driver it will make your life much easier. First, you don't put the wear and tear all on the FD. Second, if the FD needs some love (and it will) you won't be pressed to have to do it immediately because of lack of transportation. This can give you the time to do the work yourself if you are so inclined.

I have a '94 Camry with 100k on it, a '93 FD with 110k (and in about 200 parts in the garage at the moment), and a '99 Grand Cherokee with 37k (the wife mobile). They will all be driven into the ground before I get anything new.

 

Wow, you think $840/6 mos is expensive? Thats a steal. I paid like $1k/6 mos when i lived in philly. Its been a while since i've been down to atlanta but is 93/94 octane only $1.65? you're lucky if it is, 94 just got back under $2.00 here in pa.

Forget depreciation. An FD will only depreciate if you stop appreciating it.

If nothing else you'll never have to worry about the timing belt

 

interesting.
I'm 27, married, Aurora IL, 3 cars: '97 Camry, '94 FD, '96 Jeep Grand Cherokee(damn xchaos, similer selection of cars).

I also use USAA, FD is my "for pleasure" car.

My FD insurance is cheap-o. And it's covered to req's of my current financing(maybe I do need that gap insurance though... hmmm). My total 6 month including all three cars is comparable to the $840 you are quoting for the FD daily driver.

A lot of that has to do with it being a 2nd car "for pleasure"(~5K per year miles).

I agree with xchaos about the daily "beater". multi car discount, cheap daily driver(no loan, with high deductables, liability only), convenience to work on FD, FD may last longer(maybe...), and up here in chicago I needed something else for the winter. It's the way to go.

 

You make $72,000 to $108,000 a year. I see no problem in you affording both cars. I am hardly getting by.....1.2k a month and gas here is over 2 bucks per gallon.

 

We bought a 95 Maxima SE completely loaded in 97 ($9K less than sticker). My wife put 100K miles on the car with only a couple problems. The starter went out at 105K and the coolant temp sensor went bad at nearly the same mileage. The car was as reliable as the sun. It looked like new inside and out when we sold it this summer with 123K miles. Nice family/fun FWD sedan. We sold it for $6300, lost $10K in depreciation.

In 1998 I bought my 93 R1 for $16K with 36K miles. Currently it has 65K miles and if it were stock I could probably sell it for $14-15K pretty easily. Of course over that time I've done a few repairs, not actually too many. I've done mods that probably easily stack up to $10K. The FD is an awesome sports car, fun back road burner and a MAJOR head turner in town. It is NOT a economy car, it is not a good commuter although anything is possible.

 

I live in Fulton county as well. State Farm insurance for me and my 94 FD is around 600 bucks every 6 months...
Matt

 

FD ownership isn't about sensebility and practical thought like you just put in

You just have to ask yourself at some point; Am I really ok with owning a toy this expensive. It is not a car. It is a toy that can double as a car. :P

 

I (and probably 10k other people on the forum) agree. You really need a second car with having a FD, whether it's a car you and your wife can share or just a spare car. It'll also help when you have to do repairs on the car or want to do mods that can't be done in one days time.

On what xchaos is saying about insurance. I agree and have my cars/insurance set up the same way. I have a Talon TSI AWD as my daily beater and have my FD listed as a pleasure vehicle and my insurance is actually cheaper with the multi-car discount of having two cars then it would be with just the FD as the primary used vehicle. BTW, my TSI(primary car) is paid for in full and only insured for the state minimum for liability...

 

It was admirable of you to do all the number crunching and insurance research, but unfortunately a two-seater sports car (or GT or whatever some want to call it)-- especially a 10-year-old one like the FD-- cannot be a rationalized purchase decision. It is purely an emotional decision, based upon how you feel about the car's styling and performance at the time the money is in your pocket. The words "practical" and "rational" don't exist in the FD's vocabulary.

If they did, we'd have all sold our FDs long ago...

 

don't believe the hype! the fd's are NOT reliable automobiles. no ifs, ands, or buts about it. sure, there's an exception here and there, but in a day and age when the cheapest hyundais and kias regularly get over 100k on the clock w/o batting an eye, it's *extremely* rare to hear of an fd going that far w/o major repairs necessary (engine or turbo).

i love the car, but to think it's going to be reliable just 'cause you take care of it is delusional. =)

 

you can afford it, theres plenty of people doing it with less income. you do need a beater though.

 

As you said there are exceptions I guess I am one of them. I have enjoyed my FD for 3 years with no problems at all. I do take care of it and I don't drive it very much about (4-5 k a year) I daily drive a 92 toyota 4x4 and I have spent 10x the amount of money on that peice of **** than I ever will my FD. Timing chain broke, tranny went out, rad failed, front diff shot, 4 new tires $1000.00, ouch I need a honda