While we're talking about plans.....

upnygimp · #1 02-11-2006, 10:43 PM

I found a job that will theoretically hire me that claims to pay near $20k/yr. I applied for it tonight, and I'll see if they answer me. This brings up an interesting possibility that I've been considering if I got an OK paying job...

I owe about $14200 on the WRX. Theoretically, if I get the job I can get it paid off by the end of the year or early next year, while paying off all my other bills. No I could just be smart and save my money, but I have a different idea. I want to buy an '04 STi to drive daily, while keeping the WRX to do a little upgrading on and search for the 10s at the strip

Part of me says I'm nuts for considering it, but the other part of me just wants to go for it. The second part usually wins.

Landshark · #2 02-11-2006, 11:38 PM

that sounds backwards. older 227hp 2.0L wagon to mod out, and rough-handling 300hp 2.5L STi as a daily driver?

also, "near $20k/yr" isn't going to pay off a $14k loan, unless you don't use gas, don't pay insurance, don't buy anything, and don't eat for a year.

you'll be lucky if you see $15k after taxes.

Chiketkd · #3 02-11-2006, 11:43 PM

My first job after college paid mid 20's and I thought I was rolling in the dough. However, living on my own really ate up my paychecks each month and didn't leave me with much money to modify my 300ZX TT!

Based on your post, I'd assume you're currently living at home because still having a note to pay on your '02 wagon and assuming another on an '4 STI would be financial suicide.

I'd pay off the wagon first and then go looking for an '04 STi daily driver. I'd also recommend turning your racing plans around - use the WRX wagon as your daily and the STI as your race car. The STI comes stock with a trans that'll hold up to 10 second passes and has an engine with stronger internals.

-Chike

Landshark · #4 02-11-2006, 11:50 PM

Quote:

Originally Posted by Landshark

that sounds backwards. older 227hp 2.0L wagon to mod out, and rough-handling 300hp 2.5L STi as a daily driver?

Quote:

Originally Posted by Chiketkd

I'd also recommend turning your racing plans around - use the WRX wagon as your daily and the STI as your race car. The STI comes stock with a trans that'll hold up to 10 second passes and has an engine with stronger internals.

Chiketkd · #5 02-11-2006, 11:57 PM

I was typing up my post while you were typing yours. I was just responding to a PM on NASIOC so a couple minutes elapsed before I completed my reply...

Besides, my reason as to why he should race the STI and not the wagon was a little more...in depth.

ensteele · #6 02-12-2006, 12:03 AM

I would agree with them. I would get the one car paid for before buying another. If you finances should change, you won't be doomed. Good luck.

Landshark · #7 02-12-2006, 12:03 AM

Quote:

Originally Posted by Chiketkd

I was typing up my post while you were typing yours. I was just responding to a PM on NASIOC so a couple minutes elapsed before I completed my reply...

i've been waiting to use that pic on someone!

Quote:

Besides, my reason as to why he should race the STI and not the wagon was a little more...in depth.

also, the wagon would offer more day-to-day utility, and cheaper to throw snow tires on the 16" wheels. the STi would need 17"ers.

Landshark · #8 02-12-2006, 12:06 AM

Quote:

Originally Posted by ensteele

I would agree with them. I would get the one car paid for before buying another. If you finances should change, you won't be doomed. Good luck.

yeah man, don't get "car poor". when i was making that much, i was driving a piece of crap beater. the WRX is a nice car to have. that and an STi at that income would be too much, IMHO.

upnygimp · #9 02-12-2006, 12:43 AM

Oh, no doubt the WRX would be paid off or nearly paid off ($2k left on the note at MAX) before I even thought about taking on payments for another car. I definitely don't want to end up paying $900+/month for car stuff for the next 5 years. The only things I need to pay besides the car note are insurance ($100/month) food ($200/month) and gas ($150/month) I have about $1800 in other bills that I would take care of too. Sounds like my plan won't work out, but I still have the Avenger to sell ($2500) so I might be able to pull it off if I pull the belt tight and keep my mind off other purchases. I probably wouldnt be looking until April or so anyways.

The reason I want to mod the wagon is because anybody that looks at a STi is gonna say "Yup, thats fast." The wagon is much more unassuming and wont get a second look. I have a thing for sleepers. I'd use the STi for daily driving because in my mind, its at the perfect level between daily driver and track car that I like. Modifications will be limited because its already nearly perfect. Plus, a Sti engine and transmission fit in a wagon too.

I don't mind being car poor. Cars are what I enjoy, so I dont mind spending some income on them.

Landshark · #10 02-12-2006, 12:50 AM

Quote:

Originally Posted by upnygimp

I don't mind being car poor. Cars are what I enjoy, so I dont mind spending some income on them.

girly: "wow, nice car! let's go back to your place!"

gimp: "ok, but be quiet - my momz is sleeping."

save your loot and buy a house.

upnygimp · #11 02-12-2006, 12:55 AM

Quote:

Originally Posted by Landshark

girly: "wow, nice car! let's go back to your place!"

gimp: "ok, but be quiet - my momz is sleeping."

save your loot and buy a house.

Houses are for suckas....I know I won't be buying for several years yet because I have no idea where I want to live and I'm not ready to settle. At this point I'd rather just buy what I want and enjoy the renter's life. Getting serious can come when I have a 9-5.

Landshark · #12 02-12-2006, 01:01 AM

Quote:

Originally Posted by upnygimp

Houses are for suckas....I know I won't be buying for several years yet because I have no idea where I want to live and I'm not ready to settle. At this point I'd rather just buy what I want and enjoy the renter's life. Getting serious can come when I have a 9-5.

you could buy a crap house and have a mortgage of $500/mo., sell it for what you paid, or even make a little money.

you could rent for 2 years @ $500/mo and throw $12,000 out the window.

i wish i would have bought one much sooner. now get a job, ya bum!

Chiketkd · #13 02-12-2006, 08:56 AM

Quote:

Originally Posted by upnygimp

At this point I'd rather just buy what I want and enjoy the renter's life.

In your budget I don't see anything listed for 'rent'. Sounds like you're just squatting at your folks place. Which may be cool for now - but do you still want to be doing that in 5+ years.

Trust me, buying a house is NOT for suckas. It's easily one of the best investments around. You don't even have to buy a house - you could buy something more youthful like a town house or condo. The point is as Alan mentioned, you could live there for the next 2+ years and then sell it and most likely turn a profit. The home my wife and I bought last May, was re-appraised in December when we re-financed. The value after just 6-7 months had already gone up another 15K!

-Chike

Landshark · #14 02-12-2006, 09:41 AM

just trying to relate some "i wish i had done things differently" experience to you.

when i got my job, i went out and bought my 928. it was $17k, around the price of your WRX, but i was making $50k at the time. in retrospect, i should have taken that money and bought a small house and just continued to drive my beater instead of paying rent for 4 years. that was $34,000 in rent that was gone. if i had a house, that money, and probably more, would still be mine.

you have a nice WRX that is good all year long, and as a wagon, will be quite useful. add some mods to it if you get bored - it will be a fun car. try not to get keep up with everyone on NASIOC. alot of these kids have STi's and $20,000 in mods in them - some are rich kids, and some will be in serious debt for the rest of their lives.

upnygimp · #15 02-12-2006, 10:37 AM

See, thats the thing, I'm still in school.....I have probably 3 semesters left on my degree. This job is just until I finish school, because I definitely don't want to stay in this area. Buying a house wouldn't be a good idea right now. Once I get my degree, I should easily get a decent job, but I'll probably still wait a while before I buy a house,l to make sure I'm where I want to be. Selling a house is just way too much of a hassle, especially with the market only being hot in certain places.

At any rate, I still have no idea what I want to do, or even if the positions are still open. Hopefully I'll know within a couple days. I might just decide I like the money and not do anything once the WRX is paid off. But I do know this isn't just keeping up with the kids on NASIOC. I just really love the STi as an entire package.