rockstar143

iTrader: (6)

collector's item...I bet the alien's recalled them all back to Uranus!

D's Up

Got a guy coming by to look at the G on my lunch break today.

Here's to hoping she sells so I can buy a nice JDM PontiAc AzteK bruh!!!?!11!

D's Up

Got a $500 cash deposit on the G just now. Guess it's going!

TacoBello

Dude, I know you won't listen, but I'll say it anyway.

Fuck the nice car. Buy a nice place to live instead.

The home, overtime, will make you money. Your nice car, since day 1 of ownership, will only cost you money.

Be wise with your money. Save and invest it now. By the time you hit 35, you'll be able to buy a really nice car, while having plenty of equity in your home. People who buy nice cars at 23 end up regretting it by 35, because they realize how much time and money they wasted on a toy.

Don't believe me? Ask any 35+ year old around you. 19/20 of them will say fuck the car.


Buuuut since you won't listen anyway, hey, why not get a C63?

D's Up

Actually, I'm likely going the route of a beater car and a cheap sport bike. Wanna' save the rest. Planning on going back to school, getting a degree and investing more in my future. The older I get, the more I realize how priceless peace of mind and financial security in life is.

But, that's not to say that if a nice boosted S2 or proper C6 came along for the right price I would not HIGHLYYYY consider it. Lol.

I think a simple Civic + a GSXR should keep me busy enough. Then all I've got to focus on is not dying. Already went down once, don't think I'll get this lucky the second time.

Edit: Regardless of what happens, I'm done with the G.

Edit #2: No C63 because no 6MT. That exhaust note is to die for though.

TacoBello

Smart man!

If I knew what I know now, back when I was 20, shiiiiet, I'd have done things differently. I'm sure there are many folks around here who'd say the same.

D's Up

Hahaha, I take it you support the bike + beater car idea then? I'm really trying to plan out my future now. I feel like I'm hitting a major crossroad in my life. I'm about to be 24 and I am not financially secure yet. It's really starting to eat at me. I'm going to be going back to school essentially as a freshman and I have no idea what to study, where to start, etc. I'm fucking lost and adding a massive car payment to a full-time job and (eventually) full-time school just doesn't sound like a good idea.

Now who knows though, I can be really sporadic as I'm sure we all can be at times. I just know that whatever I end up doing, my future's my biggest priority. I really feel like I'm going to be the old dude in the classes though.

Man, what a tangent. Hahaha.

TacoBello

It really depends. Your idea sounds good, but it ultimately depends on how much you spend.

Around here, a 2-3 year old sport bike goes for way less than a new one. Their value plummets in the first two years. If you buy used, it's a smart move.

Same goes with the civic. I think it can be a good idea, so long as you don't buy one for 25k, and then get bit by the mod bug and drop another 5-10k into it. If you can find a nice car that will keep you happy for 10k (or less), it makes sense.

Although the civic won't be fast, if it has a manual, it'll still be fun to drive through the corners. If there's one thing my previous civics have taught me, it's how to refine my cornering abilities. The car is slow. If you wanna come out fast out of a corner, learn all the nuances of cornering on a slow car. You'll be surprised how fast you can whip out of a corner. Then when you get a faster car and apply those techniques, god damn...

The beauty with the bike is that if you want to go fast, well, a bike is probably your best bet, on the cheap. You don't even have to mod it and the fucker will still haul some serious ass.

As I see it, paying for school, working full time, going to school full time and worrying about a decent sized car payment is a lot to take on. It's not impossible to handle, but it likely is unnecessary stress you can live without.

As far as school goes, take something that more or less guarantees you work after you're done. Engineering, accounting, nursing, doctor, dentist, lawyer, etc, etc. granted, they're not easy subject matters, but they pay well when you're done and they're always in need. Not sure how you do with school or how ambitious you are, but there are a lot of cool career choices out there. A business degree can be a great thing too, so long as you have a plan afterwards. I've known enough people who did business school, had zero ambition and zero plan and ended up being the assistant manager at Staples after. Don't be that guy. You'll hate yourself after, lol.

D's Up

Ideally, a beater and a bike wouldn't exceed $7-$8k at most. I can buy back my old GSXR for $3,500 and pick up a 5MT Civic for cheap out here.

The difficult part isn't sourcing the toys, it's dialing in a career move and committing to getting a good education. I just want to make sure that I have work available when I'm done with school, whatever I study. I have too many friends who have 4-year degrees and make less than I do at my current gig with substantially more debt.

D's Up

Well, she sold today. Bye bye infinitiiiii

TacoBello

Awesome, man. Best of luck with figuring out school!

rockstar143

iTrader: (6)

and you won't be sad about that! I know it!

D's Up

Don't miss that car one bit. As a matter of fact, I think I liked my Civic more than the Infiniti.

I'm back on my GSX-R again, this thing is nutty. I've got it on the market too, hopefully gonna flip it for a small profit.

Now on a side note, I just spent $3.5k paying off my debts with some of the cash from the G's sale. $3,500 gone, just like that. It hurt, guys. I hope paying it all off at once vs paying it down over time will help my credit score. It was destroyed last year during a 5.5 month unemployed stint.

Anyone have any tips for re-establishing credit? I heard that an auto loan would help my credit out a good amount. Any truth to that?

rockstar143

iTrader: (6)

any recurring loan where you establish that you are paying a bill is good...no credit is as bad as bad credit...

imagine you're a bank...just picture being them and what kinda person they would want to lend to.

D's Up

Work with me J, I'm not the sharpest knife in the drawer.

Are you saying I should use my credit cards now and just pay off the balances monthly? I was going to buy a beater in cash but I need to do anything and everything to get my score back up in the 750+ range. So, if that means putting some money down and financing the rest while keeping the cash to pay it off in case things get sketchy, that's fine with me.

rockstar143

iTrader: (6)

Technically, a revolving balance on a cc does the same as a car payment. It shows them that when you owe money, over time...you pay it.

Now, it's also about debt to asset. If you have $100 in the bank, but $10000 in credit card debt that you keep up on the minimum payment, they can determine that you're living check to check and barely within your means and if the shiet hits the fan, whatever money you owe is the first to get cut (before food/shelter) so that's a scary prospect for them.

I had a foreclosure I was forced into to get out of a bad situation and I'm bouncing back now...only a few years later I'm mid 700's again. I never stopped paying any of my bills...I ALWAYS pay my credit card statement in full every month...and I kept a car payment for as long as I could.

If I were you, I'd do what you're doing...pay off the debt...that money wasn't yours anyway, it was borrowed. Then get your reasonable car payment...assume 10G would be $200/month.

Now go get your S2000

D's Up

Well, my total credit utilization after these payments is 2% lol. Hopefully I get something out of paying them all off at once.

My only issue with calculating a car payment is that I don't know when my credit report will reflect my new balances. I have a feeling it won't be for another month. I don't want to get stuck with a high interest rate when I could be better off waiting a month or two for my credit score to reflect my new balances.

I'm going to google a good auto loan calculator and see if I can find the average rate for someone with credit like mine.

rockstar143

iTrader: (6)

well...remember, refinancing a car loan is VERY simple. Get one now, even if it's a high rate, then refinance in a few months!

D's Up

True that. I'm going to put down about $2k on a $10k loan and look into either buying and selling cars on the side or other short-term investments for moderate profits. I don't know when the next time I'll be getting a lump sum of cash like this will be, so I want to make sure I don't regret how I spend it. Spending it on a $25k+ car that will likely depreciate down to $12-15k by the time I'm done paying it off sounds like something I'll regret.

I really want this money to work for me, that's why I'm so hesitant to spend it so quickly (aside from paying off my debts).

rockstar143

iTrader: (6)

hmmm...so you don't have sustainable income then? You're relying on the ability to flip cars to survive? Banks don't like self employed for loans either, although for a small enough amount you probably could. Get a side gig somewhere with a steady paycheck, room to grow. That's what I'd do, at least...use the flipping as additional, not your main one.

D's Up

My bad, J. I do have a "day job" per se', I work full-time at a local hospital in the emergency room. I make more than minimum, but not quite enough to buy a fully loaded RDX sport if you catch my drift. I was thinking of investing the money and/or flipping cars as supplemental income to what I already make.

rockstar143

iTrader: (6)

awwww snap, that makes sense!
Oh, then you're good, man...it's just money, you can make more later! Get a car you're happy with!

D's Up

I think you're right man, I'm over-thinking this. I should just be happy to be debt free and potentially pick up another S2.

Booya4139

Always nice to see someone make wise decisions, be careful on the bike. I miss my civic Si.

TacoBello

Another thing with credit cards... Having too much debt on one is bad also for your credit rating.

Say you have a $5000 limit on your credit card- I believe when you start getting over 80% owing on it, it starts to negatively influence your credit rating. The CC company basically thinks you're maxing out your card and unable to keep payments down.

Like RS said, doing the monthly payments is better for your credit rating as opposed to paying it off right away. However, that's also how credit companies get rich. Also, if you had a shitty credit event on your history, it'll stick around for 7 years on your credit report. However, after about 3 years of being good, most loan companies will start to look past that. You just might not be able to get the lowest interest rate possible.

D's Up

As shameful as it is to admit, I was at 102% of my credit card utilization prior to selling the car. After a couple months, my savings had run out and I had to rely on my credit cards to get me through being unemployed. I was financially drowning trying to pay it off. Thank God I'm free and clear now. My credit report will be updated on the 27th next month.

I'm hoping for a solid increase. Nothing extraordinary, but definitely something positive.

On a side note, how reliable are 97-01 preludes? I still think they're beautiful cars and dirt cheap too!

Edit: The main thing I've learned from this is to live by the 40/60 rule, even when things are going good. 60% of my checks go to my savings, 40% is used for me to get by and have fun till the next time I'm paid. Major life lesson for me.

rockstar143

iTrader: (6)

dude, it's a honda...MT is key though IMO...you drive it, if clutch ain't slippin and oil ain't drippin...buy that mother fucker and be happy.

TLDude876

iTrader: (7)

Pretty solid once it's not auto. Good luck finding a clean one

rockstar143

iTrader: (6)

very hard to find a clean one, I bet! Start searching the obits!

rockstar143

iTrader: (6)

and wtf

nist7

Exactly. While its forgettable styling won't score much points with the ladies (or with your homeboys) it is spacious, easy to repair, and a cheap way to get to your 2nd job for that extra supplemental income you've been wanting to startup OP.




Of course when you've really made it maybe you can upgrade to a 300C SRT-8 and then maybe even buy a Challenger SRT-8 for your future son:

rockstar143

iTrader: (6)

This guys knows his shit!

D's Up

Well, things didn't go quite as planned.. Lol

While looking for what intended to be a rainy-day beater to compliment my GSX-R 600, I stumbled across a '15 GT that had been traded in by an older fellow with only 6,6xx miles. He owned the car for 5-6 months before trading it in for a 2015 Dodge Ram due to the fact that his sciatica and the bucket seats in the 5.0 didn't get along very well. Long story short, I caught the car just before it hit the lot, only a day after it had been traded in and capitalized. Less than ~$29k later, I now own a 2015 Mustang GT in Deep Impact Blue with (THANK YOU GOD) a proper 6MT. I cannot say enough good things about this car. There's power, every where. The looks are stunning, not traditional mustang-esque at all. The exhaust after the muffler delete is insane. It snaps, crackels, pops and back fires on command. All without any drone. This is by far the best car I have ever owned or had the pleasure to sit in and drive. The Americans are on to something with this one. I'm rambling and just talking about it gives me a thousand thoughts of joy that I can't even word properly for this post. In three days, I've hung with and pulled cars I used to think were untouchable. I get compliments on it every day, especially the exhaust and people love the design and color of it. Hell, I've had any one from cops to the elderly to little kids compliment me on if. It's a great feeling, honestly. I know it's "just a mustang", but I adore it. I can honestly say that I do not regret my decision one bit. Especially since the previous owner took the initial hit on depreciation while still leaving me with all this warrantied goodness.

I don't know what else to say. It's everything I wanted in a car and then some. And get this, the insurance is less than every other car I've ever owned, including my Civic. Amazing.

D's Up

I'm trying to find a site to host my pictures so I can post some on here, but in the mean time, here are some videos to hold you guys over.

Stock exhaust:
Muffler delete:
Cold start:
5.0 vs Parking Garage:
And some GSX-R action for the hell of it:

rockstar143

iTrader: (6)

Your post just made me realize that if I don't end up getting a CTS-V...when my kid is out of her car seat (and I decide I'm not gonna have another tiny demon)...I'll be getting a 5.0. Part of me wants to wait until I find the RIGHT GT350...but honestly for a deal like what you're describing, in the right color, with the right suspension and wheels...with the right exhaust...just sounds like fucking bliss to me.

D's Up

I'm telling you man. I've driven C6's, M3's, S2K's, prior stangs, Z's, G's, etc. You name it and I've properly done my best to drive it AND push it. But when it comes down to it, I love my 5-oh. It's still a brand new car by my standards, I have warranty for what seems like forever, the sheer power, the way the exhaust sounds, the lines of it, the new interior.. I'm in love with it. For what I paid, this car was definitely the best option out of everything else I was looking at. Hell, I have friends who are looking into the new generation mustangs now after sitting, riding in and even driving mine. I always get the same reaction - "Wow. The interior is way better than I expected. The shifter feels awesome. Holy fuck, this thing pulls. Did you see that person taking pictures of your car at the light? Damn, this thing can actually corner now".

It's just a mustang, but I LOVE it. If nothing else, for the roar of the V8 and the 6MT alone. Hell, I had an E92 M3 owner ask me to go from a dig at a red light today because he was "eager to see how hard the new 5.0's pull". And then when I got to the next light, I had a previous gen matte black M6 compliment me on the exhaust note and ask for a go as well. This is great!

Edit: I use how much fun I have riding my GSX-R as a reference point to how much I truly enjoy the car. I took the bike out for a few minutes the other day, came home, and hopped in the 5.0 for my cruise instead. It's a big deal to me when a car can match the thrill I feel on my bike. Yes, the bike corners harder and I can lean down like a crazy muthafugga' but the Coyote engine just puts this big, shit-eating grin on my face every time I open her up and hear that exhaust come to life!

rockstar143

iTrader: (6)

and you didn't end that sentence with "and then I waxed both their asses"?!?!?

Dude, you don't have to sell me on it...I grew up with all my friends in 5.0 Fox bodies...I learned to tool on them...I would watch them leave when they'd drop me off at home in absolute love with them. I was just too cheap to get one at the time. SO it's technically been a lifelong dream to get one. Also, my wife and I rented a V6 for a week a few years back and were VERY surprised by the power, and comfort of the car...rode GREAT! One day

D's Up

Cmon now man, I thought you knew!! Haha. Rick James once said "Launch Control is a helluva' drug" and he was right. Put close to a bus on the M3 from 0-120 and close to 2 car lengths on the M6.

Get one!!! Zoe will love you more if you do! Haha

rockstar143

iTrader: (6)

I hate you.
That is all.

I can't put a bus length on a corolla in either of my cars.

D's Up

But both of your cars can put a smile on your face. That's what matters.

It goes without saying though that that smile would turn into a big, shit-eating grin if you.. Oh, I don't know, maybe boosted the S2K?