muibubbles

iTrader: (36)

one trillion dollhairs!

unless u do your own work, then id go with allrotors....

!

but seriously it ur trying to mod it, expect things to break it is a 18 yr old car, **** WILL need replacement. "and hans labor aint cheap, ya feel me?"

TwinCharged RX7

iTrader: (14)

Someone should close this thread, its retarded. If you only make $20k per year you shouldn't be wasting even $800 on an RC car, let alone an FD. I don't mean to offend, as i know we all have different hurdles in life and get put in different situations. But if you make only 20K, you should put some money towards an education and try to get a better job.

Monkman33

iTrader: (28)

You need to take care of priorities first. Then you need to take into account that this is an old car. Then you need to take into account that parts for this old car are definitely above average. I would say a good income level would be any income level that covers your cost of living, insurance(s), any monthly bills (car payment, cell phone, etc.), utilities, an allocated amount put into liquid funds every month, and then still have around 1000-2000 per month of disposable funds left over. This is the model I live off of and it works well. If you don't have the ability to sock money away for a large expense, you'll end up going into debt. If you can't afford to pay for repairs and maintenance, then you will have a non-running FD sitting in your garage real soon. I had a period of 3 years where my income level changed and monthly expenditures went up greatly, and the FD was the last thing to get my money for that time. Plan your financial life with a cushion, or else you'll find yourself hitting the hard concrete *** first should something change.

My only saving grace is that I never purchased an FD as a daily driver. It was purchased as a toy, and will always be just that. The best mod you can do for an FD is a separate reliable daily driver. If you don't have a reliable daily driver, then having a larger amount of disposable income becomes even more paramount as you will be required to make any required repairs quickly or be stranded. And needing money to pay for transportation while relying on said transportation to make money is an awful tricky catch 22 to end up in.

moosejaw

iTrader: (6)

Hey listen if it makes you feel better...

I purchased my FD back in 1994 , my car payment was actually more than my rent. I had three roommates. But i was intent on buying a FD when it came out. Like you I was making a little more than $ 24K a year as a junior draftsman and also starting my first year of college. (I think the difference being that i had the comfort of having a manufacturers warranty to boot). However roommates moved out and i got my own pad. Good thing by then i was making a lot more money. The car was my daily driver and i have driven it cross country back to Vancouver at least seven times.

And I didn't add one mod to the car until it was paid off in 1999. Back then i thought 200hp to the wheels was plenty of power. Flash forward 18 years later and the same car below has now twice that power.

Scrub

iTrader: (25)

If you have to ask, you can't afford it

rotarymaz

iTrader: (1)

Bottom line is, typical FD ownership should meet these 3 criteria:

1. Have funds to buy car out right
2. Have reliable daily driver
3. Have 5-6 grand disposable fund for repairs and upgrades

Let face it, a FD although not a Ferrari, it's still a toy or weekend vehicle for the most part. If you don't meet the 3 criteria and really want a RX7 with all the rotary goodness, then start with a FC. I would said, 100% of the FD owners I have met started with a FC, including myself. I still want to get another FC some day, but unfortunately my FD is such a money pit, I can't afford another toy.

Evopanda

iTrader: (8)

I think it is really about disposible income. I make around mid 20k a year but I have a ton of disposible income due to that I dont have to pay for health insurance/house/food/ and other living expenses since I live at home with my parents. I go to school too. I have dumped about 4k or so into my FD and I have only had it for 5 months and will be dumping 2-3k in the next month or two. Its expensive but I think its work it.

As Rotarymaz has said that people start with "lower grade" rotaries to start my family owned a GSL-SE since 1985 and got a 2004 RX-8 that we still have. We recently dumped the GSL-SE for the Cash for Clunkers got $4500 for it.

1QWIK7

iTrader: (33)

then I guess forbes don't know what they're talking about then. Lol

Dude cars are the absolute WORST investment you can make. a brand new car depreciates when you drive off the damn lot for gods sake lol.

Buying a car at 20% your annual income means just that. You BUY a car. Not finance or make lease payments. Who the hell buys a car every year? What are you talking about man? Lol

Ok what about gas? Insurance? What if you own another car? Gas and insurance on that? Food for the week? How about rent? Or like ME, MORTGAGE? Taxes on the house? Electric and water bill?

Sorry man your logic applies to a 20 year old who still lives at home.

Forbes knows what they're talking about when they suggest 20%.

Obviously there are ways around it. Its called having no other responsibilities besides the car.

87GTR

iTrader: (61)

$20000 ~ $30000 of disposable income a year

dgeesaman

iTrader: (7)

It hasn't been mentioned yet, but just as it's wise to put some of your money into an appreciative asset like a house or condo, having a daily driver makes FD ownership much less arduous. An affordable and dependable daily driver may have been assumed here but it's different than just owning an FD.

Basically, if your FD is not a daily driver, and you have a covered garage to store it, it tends to neither lose or gain value. Not a good place to put your money but not a foolishly bad one either. Insurance is about the only thing nagging at your wallet. I don't have a lot of disposable income to spend on my FD but likewise I don't drive it a whole lot. That's fine with me because I enjoy it when I do drive it.

The fuel, modifications, shop labor are where the money is lost forever. If you want to build a 10 second FD most of the money will be here at it's all trash the moment you spend it. You will break a lot of parts, possibly shred a couple of engines, and love it. But it will rape you and leave you broke unless the money is really truly disposable. I would only get into that stuff if you have money left over after paying your mortgage (plus some additional principal), insurance, adding to your savings and investments, and having money and time to spend with or finding a significant other. Most stories of regret relate to diving into this world and compromising the other things in life.

JMHO.

HiWire

Too high for me, so far.

Stick with your Miata and focus on your studies and investments, for now.

yzf-r1

iTrader: (1)

This is sound advice. If I would have invested wisely isntead of blowing cash on this car I could have bought 10 FDs by now

yzf-r1

iTrader: (1)

9 times out of 10 its these young military guys flush with cash, no significant expenses, and the money buring a hole in their pocket who do this, you see it over and over here (and on Bases)

Narfle

iTrader: (16)

+1

zoolook

iTrader: (4)

Listen to what Mahjik stated earlier. Your better off getting your life financially secure first. I didn't get my FD until I was 40, and I'm glad I waited because it can be rather expensive to keep and maintain this car. It's good that your investing money, remember a car isn't an investment....

Zoolander

iTrader: (8)

If one had put $300 into Apple stock at the time instead of buying the original ipod, then it would be $7000 right now. Just saying.

I just don't see how you can support one of these cars on $20k a year. Premium gas is like $4/gallon right now. That's $80 to fill up for 220 miles, if that, EVERY time. But......the FD makes reasonable people do unreasonable things.

Good luck with whatever you decide.

dgeesaman

iTrader: (7)

I like this point above all.

David

Red Demon

I wanted a FD when i first saw them in 1993. I did not end up getting one until 2006. I was in high school and 16 years old when i first saw them, I was 29 when I bought mine. The money was not right and the job was not right in the beginning. If you really want the car you will work hard to get one and you will wait until it is the right time. You may think 13 years is a long time to wait but it was sure worth it.

Meiogirl

iTrader: (2)

you guys sound like the old people at my work when they told me to put what little money i saved into my 401k in my 20s.

Of course now I WISH I had listened as I would have about 3x what I have now in my late thirties. Retire early, maybe I could have. Point is, I don't think anyone in their 20s can relate to the idea of saving until they are at that point in their life.

I think spending 20 years of your driving life without driving an attainable car of your dreams is a waste IMO. Thats a bit rash.

RustyGent

iTrader: (9)

At this point I think we are debating if its better to grow old with money or experiences.

yzf-r1

iTrader: (1)

That's just it, dying an old fart who just saved every penny and never had any fun is also pointless....eh, just read Ecclesiastes sometime

pomanferrari

iTrader: (1)

With Ben Bernankio dropping paper money into the economy like the Japanese are dumping seawater into the reactor, myg $150K+ doesn't go too far. I can barely afford the car with a blown engine every couple of years and pieces falling off.

yzf-r1

iTrader: (1)

LOL...I love this guy - pretty much accurate

Supernaut

iTrader: (83)

Yea but you wouldn't be able to enjoy them when you are older.

Absolutely, it is heart breaking. I couldn't imagine doing what I'm doing with my cars if I had kids (nothing) so I'd rather do it now. Every time I spend money I think about what FD stuff I could buy with it instead. It has all been worth it to me but it does come at a cost. Instead of buying a new winter jacket, I've been wearing an old leather jacket with a huge hole in it. I look like a hobo.

Yeah I used to be a rationale human before I got my FD. Everyone thinks I'm certifiable now. I don't blame them.

OP, you need alot of money to get the most out of owning an FD. The early returns from putting money into the car are so high it is going to be difficult to stop. I now realize that I didn't stand a chance at sticking with my original plans for the car. Even now I'm stretching out my finances more than I should at my age. The only reason I haven't gone down the tubes is pure luck. I hope this scares some sense into you. It should. Buy an FD preparing to be obsessed.

dvo

iTrader: (22)

If you have to ask.. jk. Just really depends on other financial responsibilities you have. And it's not about how much you make, it's how you manage your money. A "pleasure" car should be the last of your priorities however.