Thinking about trading in the TSX
#1
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Thinking about trading in the TSX
Maybe I was caught up in the fact that after graduation most of my friends either bought their first car or traded theirs in for something nicer, but it got me into looking around as well.
I was at the Honda dealer with my friend as she was looking at the Accord and actually bought it. In the mean time I was looking at an 05 S2000. I went ahead and test drove the car and really loved the speed and agility of the car. Though not very practical I am inclined to do a trade (maybe not for specifically that car).
I was also thinking about trading in the TSX for an IS350, though this would basically mean that I'm buying a new car since the thing is worth more than twice the trade in value of the TSX. However I'm strongly looking into it due to the fact that my girlfriend (hopefully soon to be finace) doesn't like driving my car (manual) even though she can drive it.
Though it's my dream to have a nice sedan and a Lotus Elise in my garage (4-7 years down the road). Basically I still have other expenses to worry about and adding another car wouldn't be the wisest idea for me.
So my thoughts are to get the IS350 and live with it for many years until I can easily invest in a second car. Or to pick up the S2000 now and enjoy the sports car and pick up a sedan later. As of now I really don't need a sedan since all I do is commute to work and back. As sad as this sounds I think I've been growing anti-social since I started work and rarely go out anymore (though I have been a lot this weekend).
As a recent college grad that just started working, I guess any criticism or advice would be welcome. It'll also be appreciated since a new car is a lot of money and not something that I want to keep buying trading buying and trading. Nothing is set right now, just a bunch of wishful thinking.
Have a happy 4th guys.
I was at the Honda dealer with my friend as she was looking at the Accord and actually bought it. In the mean time I was looking at an 05 S2000. I went ahead and test drove the car and really loved the speed and agility of the car. Though not very practical I am inclined to do a trade (maybe not for specifically that car).
I was also thinking about trading in the TSX for an IS350, though this would basically mean that I'm buying a new car since the thing is worth more than twice the trade in value of the TSX. However I'm strongly looking into it due to the fact that my girlfriend (hopefully soon to be finace) doesn't like driving my car (manual) even though she can drive it.
Though it's my dream to have a nice sedan and a Lotus Elise in my garage (4-7 years down the road). Basically I still have other expenses to worry about and adding another car wouldn't be the wisest idea for me.
So my thoughts are to get the IS350 and live with it for many years until I can easily invest in a second car. Or to pick up the S2000 now and enjoy the sports car and pick up a sedan later. As of now I really don't need a sedan since all I do is commute to work and back. As sad as this sounds I think I've been growing anti-social since I started work and rarely go out anymore (though I have been a lot this weekend).
As a recent college grad that just started working, I guess any criticism or advice would be welcome. It'll also be appreciated since a new car is a lot of money and not something that I want to keep buying trading buying and trading. Nothing is set right now, just a bunch of wishful thinking.
Have a happy 4th guys.
#4
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^^^ Definetly, from one college grad to another. Keeping the TSX in the long run is the most sound decision you can make. Trading in will only prolong your debt.
#5
Someone stole "My Garage"
Originally Posted by kboosman00
^^^ Definetly, from one college grad to another. Keeping the TSX in the long run is the most sound decision you can make. Trading in will only prolong your debt.
Prolonging your debts is the most un-sound financial move you could make at this point, considering you're just out of school and don't have much in the way of assets to your name.
Concentrate on paying down the car and buying a house/condo somewhere that FITS YOUR BUDGET, and in a few years you'll be even better off than your friends (The Jones').
"Short term pain for long term gain" (although if you think that driving the TSX is "pain" I think you're wrong, LOL)
#6
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Originally Posted by CGTSX2004
Don't get caught up in the "keep up with the Jones's" attitude. Instead, hang on to your car, save the money, and in a decade, while your friends are still paying off all kinds of loans, you'll have a house, that Elise, and minimal debt from loans.
#7
Honestly, keep the TSX. All that money spent makes you lose your "time value." Use that extra money that would be spent for the IS350 and invest it. After that just keep making your money grow. Then when you're at a comfortable level buy whatever. Easier said than done obviously. I am in the process :P
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#8
Three Wheelin'
Originally Posted by PixelHarmony
However I'm strongly looking into it due to the fact that my girlfriend (hopefully soon to be finace) doesn't like driving my car (manual) even though she can drive it.
Originally Posted by PixelHarmony
So my thoughts are to get the IS350 and live with it for many years until I can easily invest in a second car. Or to pick up the S2000 now and enjoy the sports car and pick up a sedan later.
#9
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I kept my Honda Civic from college for 3 years after I graduated and began working. It helped me to save quite a bit of money. If I were you, if it's possible, resist the urge to change cars.
#10
Originally Posted by CGTSX2004
Don't get caught up in the "keep up with the Jones's" attitude. Instead, hang on to your car, save the money, and in a decade, while your friends are still paying off all kinds of loans, you'll have a house, that Elise, and minimal debt from loans.
I agree.
I was going to go into some rant about being self-absorbed and caught in the grip of rampent consumerism but thought given your age and obvious idealism as to how the future will always be rosy, I'll only offer some unsolicited advise and say, "plan for the worst and hope for the best. Keep your options open."
Best of luck in whatever you decide and harbor no regrets.
#11
for EVER more!
My TSX was my college graduation reward. Can't imagine anything more practical or better for what my life currently demands. Keep the TSX, make your dreams come true after a bit of "pain" :lol:
#12
Same boat, except that I drive a 97 Mazda Miata now, been out of school for 3 years and thinking about a TSX.
I have been fortunate enough to put away a very good portion of each paycheck while driving the 10 year old Mazda. I love the car, but it is small, noisy, and rattles and it is coming up on needing major work (shocks, new top, timing belt). It works, its a blast, but it is limited. Plus the previous owner had some door dings and bumper scratches I've lived with for the past several years. I feel like I've gotten to the point where I want a car I can keep for a long time, be happy with, and maintain the way I want to maintain it. I drove a $2000 87 626 in high school, a $2000 90 626 (pass me down) in college. It was totaled when I was rear-ended and I bought the Miata. Been driving for 11 years and have always wanted a new car. The $ just never ever ever make sense. The smartest thing would be to have kept the 626 (had it not been totaled) or to keep the Miata. But that isn't "nice". I finally think I want to treat myself. I've been disciplined my whole life. I want to have a nice car.
The problem is when I crunch those numbers on the TSX, damn are they big. The Miata is paid for. Its cheap to insure and cheap to run. But I have to live with its shortcomings and "oldness" every single day. That gets old too.
Thought about a newer used car, but I think I'd rather just get a new one. Then thought about a Civic or Mazda3, but those cars are just nice versions of what are basically bare-bones transportation. I considered a new Miata, but I'm still left with a car that is small, noisy, and limited.
Then I think about someday having a home or condo, or traveling more, or maybe buying a nice television, or instead investing my money into things that pay me every month instead of me paying them. If I stay in the bay area, that new home is going to be a LONG time coming ($1M for an old, small house). Don't need a new TV or more travel (only so many vacation days). Investments don't treat me every single day in a way I can feel, just a number on a balance sheet. I'd still be driving the old car, living in my old apartment (that costs WAY too much here in the bay area) and generally happy with life but not enjoying it, while that balance sheet gets bigger and bigger but I don't spend it on anything. You can't take it with you, even though I keep trying to plan like I'm going to
I'd say you have a wonderful car now. Keep it. I'm half tempted to keep my Miata, and it isn't really anything great. Its not worth much. Is the additional $ worth the cost? If I can barely justify it with a 10 year old Miata to a TSX, can you justify it to go from a TSX to S2000 or Lexus?
BTW, if you want a fun car, get a 1st generation Miata. A good one can be had for $5000. They're actually more fun in day-to day driving than the S2000. Having an expensive car as limited as a Miata or S2000 is do-able, but it can be very difficult to live with as an only car. Trust me. So maybe you can get a used Miata and keep that TSX and still be better off?
Best of luck. Enjoy your life but always continue to pay yourself first.
I have been fortunate enough to put away a very good portion of each paycheck while driving the 10 year old Mazda. I love the car, but it is small, noisy, and rattles and it is coming up on needing major work (shocks, new top, timing belt). It works, its a blast, but it is limited. Plus the previous owner had some door dings and bumper scratches I've lived with for the past several years. I feel like I've gotten to the point where I want a car I can keep for a long time, be happy with, and maintain the way I want to maintain it. I drove a $2000 87 626 in high school, a $2000 90 626 (pass me down) in college. It was totaled when I was rear-ended and I bought the Miata. Been driving for 11 years and have always wanted a new car. The $ just never ever ever make sense. The smartest thing would be to have kept the 626 (had it not been totaled) or to keep the Miata. But that isn't "nice". I finally think I want to treat myself. I've been disciplined my whole life. I want to have a nice car.
The problem is when I crunch those numbers on the TSX, damn are they big. The Miata is paid for. Its cheap to insure and cheap to run. But I have to live with its shortcomings and "oldness" every single day. That gets old too.
Thought about a newer used car, but I think I'd rather just get a new one. Then thought about a Civic or Mazda3, but those cars are just nice versions of what are basically bare-bones transportation. I considered a new Miata, but I'm still left with a car that is small, noisy, and limited.
Then I think about someday having a home or condo, or traveling more, or maybe buying a nice television, or instead investing my money into things that pay me every month instead of me paying them. If I stay in the bay area, that new home is going to be a LONG time coming ($1M for an old, small house). Don't need a new TV or more travel (only so many vacation days). Investments don't treat me every single day in a way I can feel, just a number on a balance sheet. I'd still be driving the old car, living in my old apartment (that costs WAY too much here in the bay area) and generally happy with life but not enjoying it, while that balance sheet gets bigger and bigger but I don't spend it on anything. You can't take it with you, even though I keep trying to plan like I'm going to
I'd say you have a wonderful car now. Keep it. I'm half tempted to keep my Miata, and it isn't really anything great. Its not worth much. Is the additional $ worth the cost? If I can barely justify it with a 10 year old Miata to a TSX, can you justify it to go from a TSX to S2000 or Lexus?
BTW, if you want a fun car, get a 1st generation Miata. A good one can be had for $5000. They're actually more fun in day-to day driving than the S2000. Having an expensive car as limited as a Miata or S2000 is do-able, but it can be very difficult to live with as an only car. Trust me. So maybe you can get a used Miata and keep that TSX and still be better off?
Best of luck. Enjoy your life but always continue to pay yourself first.
#13
Let me help you!
The best decision you can make if you really want an automatic to quell your gf is to trade your TSX for a civic or some other cheaper car. That way, you'll have a paid off car (and maybe get some money back).
Just because your gf wants an auto doesn't mean you have to upgrade the car. Cars are not investments (unlike real estate). It's a very bad decision to get a more expensive car, especially since you just graduated and might not be as financially stable.
If you really want to spend money and make an investment...buy a house or condo. Then sell it in a couple of years, and you'll have more money than what you put into it.
Just because your gf wants an auto doesn't mean you have to upgrade the car. Cars are not investments (unlike real estate). It's a very bad decision to get a more expensive car, especially since you just graduated and might not be as financially stable.
If you really want to spend money and make an investment...buy a house or condo. Then sell it in a couple of years, and you'll have more money than what you put into it.
#14
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I was/am in the same boat. Have thgouht so many times now since I graduated about why I really need a 4 door to go back and forth to work
I have almost twice now traded in my TSX for a S2K
Everytime though I think it over and everything that people are saying in this thread is what comes into my head.
It's sometimes the hardest thing to do: have patience. They say patience is a virtue, and I can totally agree with that.
Tell your gf (soon to be fiance, and good luck with that too by the way ) that she will just have to deal with it or something because you are trying to save cash and what you have right now works perfectly fine
I have almost twice now traded in my TSX for a S2K
Everytime though I think it over and everything that people are saying in this thread is what comes into my head.
It's sometimes the hardest thing to do: have patience. They say patience is a virtue, and I can totally agree with that.
Tell your gf (soon to be fiance, and good luck with that too by the way ) that she will just have to deal with it or something because you are trying to save cash and what you have right now works perfectly fine
#15
Bye TSX, hello domestic?
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1) a s2000 is a difficult all-year round car, especially w/ the snow you'll receive in IL
2) don't get a car based on what your significant other wants, you won't be as happy. tell her to get a car she likes driving and stop driving yours
2) don't get a car based on what your significant other wants, you won't be as happy. tell her to get a car she likes driving and stop driving yours
#16
Like everyone is saying, the s2000 is impractical around Chicago...especially in the winter. Is there anything YOU don't like about the TSX??? I do understand that your girlfriend's opinion is pretty important, but she should be fair and understanding and not push you to trade in your car for her convenience. Maybe you guys should discuss getting another car for her, something not too expensive. But if you HAVE to trade in the TSX, the IS350 is a good choice. Expensive and probably not worth it but a great car overall. Maybe consider the IS250 AWD for winter? I have seen soo many RWDl cars stuck in the snow here in Chicago. I remember last winter, I was driving on an icy road and a 5 series suddenly crashed into the curb just because he/she was trying to switch lanes at no more than 30mph. After that incident, I vow to never get RWD as long as I live in Chicago.
#17
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I'm not a fan of those roadsters that much myself. They're too small for the highway for me, impractical for an all season car, and it's tough to use them as an everyday car.
I would get 2 dr sports coupe before a roadster, at least the 2 dr sports coupe has a more useable trunk.
I would get 2 dr sports coupe before a roadster, at least the 2 dr sports coupe has a more useable trunk.
#18
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I also agree that you shouldn't be trading in your TSX, but should instead save some money first and wait until you have more disposible income. The TSX is a great reliable car that is also fun to drive. At least your girlfriend is able to drive a manual transmission car.. my wife still hasn't learned, which is why she's stuck driving the Pilot. So far hasn't really been a problem, we just always take the Pilot whenever we feel she may need to drive too.
Definitely buy a house as soon as you can.. I'm not sure about real estate over there, but here in CA it's been crazy. If I didn't buy my place when I did, I wouldn't be able to afford it now. Also, once you have a mortgage, you'll also start getting some equity and will be able to borrow against that later to buy your next car if you want.
Definitely buy a house as soon as you can.. I'm not sure about real estate over there, but here in CA it's been crazy. If I didn't buy my place when I did, I wouldn't be able to afford it now. Also, once you have a mortgage, you'll also start getting some equity and will be able to borrow against that later to buy your next car if you want.
#19
Burning Brakes
I don't know about buying a house now in today's over-speculated market.
If I was 22 again and had no kids, wife, etc., I'd get the S2000 (or whatever impractical sports car floats my boat).
Matter of fact, that's exactly what I did. I bought a used 300ZX TT in my early 20s. It was very fun and I don't regret it at all. Of course, back then, I also bought my 1st house at the same time for $211K - in Los Angeles, CA! But I was only able to do both on a modest salary due to the super cheap housing prices at the time.
In today's world, people just don't make enough money on a starting salary to buy a decent house. Furthermore, depending on where you are, if you bought now, you might actually end up seriously upside down on your mortgage. People don't realize that, like the stock market, housing markets go through the same boom and bust cycles. I remember my parents bought a house for $600K in 1989 and its value dropped to under $400K before it shot back up to close to $1 million in today's market.
Housing in So Cal has cooled off significantly this year. In fact, if you bought in 2005, chances are, you probably lost some value this year. Long term interest rates continue to rise which means less and less people can afford these houses. The fixed rate on many interest only loans are expiring and there will be a larger number or houses on the market or foreclosed as people won't be able to make the payments on interest rates that are a good 1.5-2% higher.
So, in light of this type of market, I just don't think throwing a huge percentage of your income into real estate at this point is wise.
OTOH, you should savor your time in your 20s. I had a blast driving fast cars, mtn biking, going out with friends, etc. Live a little and buy that S2000 if you really like it. I would get the S2000 over the Lotus. At least you know the S2000 will last for years and years. Who knows what issues you're going to have with that Lotus.
Oh and one last thing - NEVER make a decision based on what your girlfriend wants. It's your car. You're paying the bills. She should just deal with it. Life's too short to compromise on such a silly thing like your gf's preference for driving stick. If you're dealing w/ issues like having kids or moving to another state or country, then sure you should talk w/ your significant other. Not on shit like driving stick.
Even now, my wife would never dream of telling me what kind of car I should get or how big of a TV I can buy, etc. Now, people may think I'm some sort of cro-magnon, but the reality is, women actually prefer men w/ a backbone.
If I was 22 again and had no kids, wife, etc., I'd get the S2000 (or whatever impractical sports car floats my boat).
Matter of fact, that's exactly what I did. I bought a used 300ZX TT in my early 20s. It was very fun and I don't regret it at all. Of course, back then, I also bought my 1st house at the same time for $211K - in Los Angeles, CA! But I was only able to do both on a modest salary due to the super cheap housing prices at the time.
In today's world, people just don't make enough money on a starting salary to buy a decent house. Furthermore, depending on where you are, if you bought now, you might actually end up seriously upside down on your mortgage. People don't realize that, like the stock market, housing markets go through the same boom and bust cycles. I remember my parents bought a house for $600K in 1989 and its value dropped to under $400K before it shot back up to close to $1 million in today's market.
Housing in So Cal has cooled off significantly this year. In fact, if you bought in 2005, chances are, you probably lost some value this year. Long term interest rates continue to rise which means less and less people can afford these houses. The fixed rate on many interest only loans are expiring and there will be a larger number or houses on the market or foreclosed as people won't be able to make the payments on interest rates that are a good 1.5-2% higher.
So, in light of this type of market, I just don't think throwing a huge percentage of your income into real estate at this point is wise.
OTOH, you should savor your time in your 20s. I had a blast driving fast cars, mtn biking, going out with friends, etc. Live a little and buy that S2000 if you really like it. I would get the S2000 over the Lotus. At least you know the S2000 will last for years and years. Who knows what issues you're going to have with that Lotus.
Oh and one last thing - NEVER make a decision based on what your girlfriend wants. It's your car. You're paying the bills. She should just deal with it. Life's too short to compromise on such a silly thing like your gf's preference for driving stick. If you're dealing w/ issues like having kids or moving to another state or country, then sure you should talk w/ your significant other. Not on shit like driving stick.
Even now, my wife would never dream of telling me what kind of car I should get or how big of a TV I can buy, etc. Now, people may think I'm some sort of cro-magnon, but the reality is, women actually prefer men w/ a backbone.
#20
I say save your cash and go with a better investment (house, land, or just save it all up). There is no sense in buying a new car just because.... I also agree with xizor...
#21
Let me help you!
I used to drive a coupe to and from school and work. Coupes are nice to drive, but sedans are handy when the time comes. I remember so many times I had wished I had a sedan. That's why when I went to buy a new car, I made sure it was a sedan. I still don't drive people around often...but I like the extra space. It's much easier to put things in the back when it doesn't have to go through the trunk or over the front seats. I actually damaged part of my coupe's headliner while trying to squeeze in a box of something I bought. I then drove it to another location, where we offloaded it into a sedan. The box went in much easier.
#22
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I mean you don't even have to listen to any of us either on here and go ahead and go with you gut feeling.
You can have the "save your money" thought or "you only live once, so enjoy life" thought.
You can have the "save your money" thought or "you only live once, so enjoy life" thought.
#23
The best piece of advice I can give you - DO NOT GET AN AUTOMATIC UNTIL SHE IS YOUR WIFE- Giving up a manual for a woman is like getting a tatoo with her name on it. When she is gone, you are stuck with it for a long time...
#24
i'm usually a you only live once but i must say it is EXTREAMLY important to save money. its also EXTREAMLY important to own a home. I almost blew it by spending all my money on a BMW 325xi two years ago while I lived in an apartment. I wanted the car so bad. I test drove it and it made me want it even more. Being clouded by "get it get it" I didn't think about the upkeep on that car, the costs to repair that car, insurance, prop tax, etc... i finally sat down and told myself, "hey do you want to live in this apt. forever and just throw away money every month or do you want to own something and build equity!?" my parents also gave me a lecture and guilt trip about buying a luxury car.
so i bought a house in the burbs and it was the smartest thing. then i bought the TSX when I was in a more financially stable.
I guess you can think "i only live once" but you want to make sure that when you live your life out you are as happy as can be until you die. so i say forget the car and keep what you have and appreciate what you have now. Wait a few years before buying another car. I am a believer in paying off the loan before looking at any new car but... everyone has different ideas.
good luck to you!
so i bought a house in the burbs and it was the smartest thing. then i bought the TSX when I was in a more financially stable.
I guess you can think "i only live once" but you want to make sure that when you live your life out you are as happy as can be until you die. so i say forget the car and keep what you have and appreciate what you have now. Wait a few years before buying another car. I am a believer in paying off the loan before looking at any new car but... everyone has different ideas.
good luck to you!
#25
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Originally Posted by xizor
1) a s2000 is a difficult all-year round car, especially w/ the snow you'll receive in IL
2) don't get a car based on what your significant other wants, you won't be as happy. tell her to get a car she likes driving and stop driving yours
2) don't get a car based on what your significant other wants, you won't be as happy. tell her to get a car she likes driving and stop driving yours
#26
Still Lovin my 06
Originally Posted by PixelHarmony
Maybe I was caught up in the fact that after graduation most of my friends either bought their first car or traded theirs in for something nicer, but it got me into looking around as well.
I was at the Honda dealer with my friend as she was looking at the Accord and actually bought it. In the mean time I was looking at an 05 S2000. I went ahead and test drove the car and really loved the speed and agility of the car. Though not very practical I am inclined to do a trade (maybe not for specifically that car).
I was also thinking about trading in the TSX for an IS350, though this would basically mean that I'm buying a new car since the thing is worth more than twice the trade in value of the TSX. However I'm strongly looking into it due to the fact that my girlfriend (hopefully soon to be finace) doesn't like driving my car (manual) even though she can drive it.
Though it's my dream to have a nice sedan and a Lotus Elise in my garage (4-7 years down the road). Basically I still have other expenses to worry about and adding another car wouldn't be the wisest idea for me.
So my thoughts are to get the IS350 and live with it for many years until I can easily invest in a second car. Or to pick up the S2000 now and enjoy the sports car and pick up a sedan later. As of now I really don't need a sedan since all I do is commute to work and back. As sad as this sounds I think I've been growing anti-social since I started work and rarely go out anymore (though I have been a lot this weekend).
As a recent college grad that just started working, I guess any criticism or advice would be welcome. It'll also be appreciated since a new car is a lot of money and not something that I want to keep buying trading buying and trading. Nothing is set right now, just a bunch of wishful thinking.
Have a happy 4th guys.
I was at the Honda dealer with my friend as she was looking at the Accord and actually bought it. In the mean time I was looking at an 05 S2000. I went ahead and test drove the car and really loved the speed and agility of the car. Though not very practical I am inclined to do a trade (maybe not for specifically that car).
I was also thinking about trading in the TSX for an IS350, though this would basically mean that I'm buying a new car since the thing is worth more than twice the trade in value of the TSX. However I'm strongly looking into it due to the fact that my girlfriend (hopefully soon to be finace) doesn't like driving my car (manual) even though she can drive it.
Though it's my dream to have a nice sedan and a Lotus Elise in my garage (4-7 years down the road). Basically I still have other expenses to worry about and adding another car wouldn't be the wisest idea for me.
So my thoughts are to get the IS350 and live with it for many years until I can easily invest in a second car. Or to pick up the S2000 now and enjoy the sports car and pick up a sedan later. As of now I really don't need a sedan since all I do is commute to work and back. As sad as this sounds I think I've been growing anti-social since I started work and rarely go out anymore (though I have been a lot this weekend).
As a recent college grad that just started working, I guess any criticism or advice would be welcome. It'll also be appreciated since a new car is a lot of money and not something that I want to keep buying trading buying and trading. Nothing is set right now, just a bunch of wishful thinking.
Have a happy 4th guys.
Is your current TSX paid for already?
Do you have student loan debt or any other debt?
You're "soon to be fiance" is going to want an engagement ring, depending on what you want to spend that's 5-10 grand almost these days, but can be had for 1-5 grand depending on what she values.
If you get engaged, you have to get married right? Will you be paying for the wedding $15-40k for a wedding with 100-200 people invited.
Basically, i think you're in a good position with a very nice car if you just hang onto the TSX even for 2 or 3 more years. That money could be going anywhere:
-Build emergency savings
-Cover purchases of big ticket items like furniture or other items you need post college years.
-saving for down payment on house
-pay for engagement ring
etc etc.
i don't think it's wise to incur a $500/mo payment if you really dont need it.
stick it out a few more years with the tsx.
#27
Originally Posted by xizor
1) a s2000 is a difficult all-year round car, especially w/ the snow you'll receive in IL
#28
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Originally Posted by bradykp
Is your current TSX paid for already?
Do you have student loan debt or any other debt?
You're "soon to be fiance" is going to want an engagement ring, depending on what you want to spend that's 5-10 grand almost these days, but can be had for 1-5 grand depending on what she values.
If you get engaged, you have to get married right? Will you be paying for the wedding $15-40k for a wedding with 100-200 people invited.
Basically, i think you're in a good position with a very nice car if you just hang onto the TSX even for 2 or 3 more years. That money could be going anywhere:
-Build emergency savings
-Cover purchases of big ticket items like furniture or other items you need post college years.
-saving for down payment on house
-pay for engagement ring
etc etc.
i don't think it's wise to incur a $500/mo payment if you really dont need it.
stick it out a few more years with the tsx.
Do you have student loan debt or any other debt?
You're "soon to be fiance" is going to want an engagement ring, depending on what you want to spend that's 5-10 grand almost these days, but can be had for 1-5 grand depending on what she values.
If you get engaged, you have to get married right? Will you be paying for the wedding $15-40k for a wedding with 100-200 people invited.
Basically, i think you're in a good position with a very nice car if you just hang onto the TSX even for 2 or 3 more years. That money could be going anywhere:
-Build emergency savings
-Cover purchases of big ticket items like furniture or other items you need post college years.
-saving for down payment on house
-pay for engagement ring
etc etc.
i don't think it's wise to incur a $500/mo payment if you really dont need it.
stick it out a few more years with the tsx.
I guess it makes a bit more sense now to just hold onto the TSX and wait it out and save up for something bigger. That's what I always planned on doing but I guess I got caught up in the idea that once I get married I can't get a sports car.
Thanks for all the input guys, looks like I'll be holding onto this car for a few more years.
#29
[QUOTE=PixelHarmony]I was also thinking about trading in the TSX for an IS350, though this would basically mean that I'm buying a new car since the thing is worth more than twice the trade in value of the TSX. However I'm strongly looking into it due to the fact that my girlfriend (hopefully soon to be finace) doesn't like driving my car (manual) even though she can drive it.
Dude, it's nice and considerate of you to think of your girlfriend, but unless she's paying your monthly car dues, who cares whether she likes it or not. it's your car and you don't have to get a car that pleases her. One piece of advice, grow some..... you know what!
Dude, it's nice and considerate of you to think of your girlfriend, but unless she's paying your monthly car dues, who cares whether she likes it or not. it's your car and you don't have to get a car that pleases her. One piece of advice, grow some..... you know what!
#30
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Originally Posted by PixelHarmony
The TSX is paid for, I don't have any loans to pay off except a bit of credit card debt (but that'll be gone in a couple months). Honestly I have no drain on my income right now. That's why even a $700/month payment now isn't a big deal... however that's $700 a month I could be saving up for something down the road.
I guess it makes a bit more sense now to just hold onto the TSX and wait it out and save up for something bigger. That's what I always planned on doing but I guess I got caught up in the idea that once I get married I can't get a sports car.
Thanks for all the input guys, looks like I'll be holding onto this car for a few more years.
I guess it makes a bit more sense now to just hold onto the TSX and wait it out and save up for something bigger. That's what I always planned on doing but I guess I got caught up in the idea that once I get married I can't get a sports car.
Thanks for all the input guys, looks like I'll be holding onto this car for a few more years.
But all joking aside, with your TSX already paid off, there's no reason in a few year why you can't trade it in for something less practical if the gf (or possibly wife by then) has something more practical. I imagine that as long as you don't have kids in the immediate future, there's no reason you can't keep a sports car in the garage.
#31
Still Lovin my 06
Originally Posted by CGTSX2004
If you getting married means you aren't allowed to have a sports car, then you shouldn't get married.
But all joking aside, with your TSX already paid off, there's no reason in a few year why you can't trade it in for something less practical if the gf (or possibly wife by then) has something more practical. I imagine that as long as you don't have kids in the immediate future, there's no reason you can't keep a sports car in the garage.
But all joking aside, with your TSX already paid off, there's no reason in a few year why you can't trade it in for something less practical if the gf (or possibly wife by then) has something more practical. I imagine that as long as you don't have kids in the immediate future, there's no reason you can't keep a sports car in the garage.
and seriously, if you cant get a sports car once married, better rethink buying that ring.
i'm getting a sports car once i'm married! either that or a motorcycle!
#32
Originally Posted by bradykp
Yeah, you're probably going to have two cars down the line right? So keep banking that dough for now, you'll be happy you did. throw it in an ING or Citibank money market account, hovering around 5% now. or play with short term CDs which are above 5% now. you'll have safe investments with decent returns building your down payment. then once you have equity, the world is yours with purchasing power and tax benefits.
fyi - you just need to understand and remember your priorities now, and in the future (they tend to change, esp. if you have one or more children, a spouse and a mortgage)... as an example, even with paying all the bills and mortgage and insurance, saving some for my child's education, saving for a rainy day and also maintaining a buffer in case I'm laid off from my job, we still have enough money left over for me to buy an M5 if that was my priority and I could somehow convince my spouse of the "benefits" it would hold. however, i'd much rather save MORE money for my child and pay more money toward my mortgage to build equity etc. than drive a really nice car. The TSX offers me everything I actually feel I need and not one bit more - it will also be in the family for 10+ years.
#33
Still Lovin my 06
Originally Posted by vitocorleone
QFT.
fyi - you just need to understand and remember your priorities now, and in the future (they tend to change, esp. if you have one or more children, a spouse and a mortgage)... as an example, even with paying all the bills and mortgage and insurance, saving some for my child's education, saving for a rainy day and also maintaining a buffer in case I'm laid off from my job, we still have enough money left over for me to buy an M5 if that was my priority and I could somehow convince my spouse of the "benefits" it would hold. however, i'd much rather save MORE money for my child and pay more money toward my mortgage to build equity etc. than drive a really nice car. The TSX offers me everything I actually feel I need and not one bit more - it will also be in the family for 10+ years.
fyi - you just need to understand and remember your priorities now, and in the future (they tend to change, esp. if you have one or more children, a spouse and a mortgage)... as an example, even with paying all the bills and mortgage and insurance, saving some for my child's education, saving for a rainy day and also maintaining a buffer in case I'm laid off from my job, we still have enough money left over for me to buy an M5 if that was my priority and I could somehow convince my spouse of the "benefits" it would hold. however, i'd much rather save MORE money for my child and pay more money toward my mortgage to build equity etc. than drive a really nice car. The TSX offers me everything I actually feel I need and not one bit more - it will also be in the family for 10+ years.
I guess if you are very unhappy with the TSX, and can afford it, and saving is not a priority for you, then by all means do it, as the TSX is a nicely valued car for a trade in. But my vote is definitely don't do it.
Even the difference waiting one more year would make on your savings so you wouldn't have to finance as much when buying a car.
#34
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Originally Posted by bradykp
Yeah, you're probably going to have two cars down the line right? So keep banking that dough for now, you'll be happy you did. throw it in an ING or Citibank money market account, hovering around 5% now. or play with short term CDs which are above 5% now. you'll have safe investments with decent returns building your down payment. then once you have equity, the world is yours with purchasing power and tax benefits.
and seriously, if you cant get a sports car once married, better rethink buying that ring.
i'm getting a sports car once i'm married! either that or a motorcycle!
and seriously, if you cant get a sports car once married, better rethink buying that ring.
i'm getting a sports car once i'm married! either that or a motorcycle!
I just wanted to post this since I thought it went well with the whole "buy the ring thing"...THIS GIRL IS A GODDESS AMONGST MERE MORTALS http://factoryfive.com/table/communi...nekoerner.html
If my future fiance/wife ever did something like this for me I think I would probably believe I was dreaming
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Yeah that would be awesome if I paid for a ring and got a car in return.
But I think my TSX is worth around 19K right now and hopefully after 60k miles it'll still be around 15-16k.
But I think my TSX is worth around 19K right now and hopefully after 60k miles it'll still be around 15-16k.
#36
Burning Brakes
I posted this over 1 1/2 yrs ago. I'm flippin' BRILLIANT!!!
PixelHarmony - I hope you picked up that S2000 w/ manual transmission instead of buying a house.
PixelHarmony - I hope you picked up that S2000 w/ manual transmission instead of buying a house.
Originally Posted by AlterZgo
In today's world, people just don't make enough money on a starting salary to buy a decent house. Furthermore, depending on where you are, if you bought now, you might actually end up seriously upside down on your mortgage. People don't realize that, like the stock market, housing markets go through the same boom and bust cycles. I remember my parents bought a house for $600K in 1989 and its value dropped to under $400K before it shot back up to close to $1 million in today's market.
Housing in So Cal has cooled off significantly this year. In fact, if you bought in 2005, chances are, you probably lost some value this year. Long term interest rates continue to rise which means less and less people can afford these houses. The fixed rate on many interest only loans are expiring and there will be a larger number or houses on the market or foreclosed as people won't be able to make the payments on interest rates that are a good 1.5-2% higher.
So, in light of this type of market, I just don't think throwing a huge percentage of your income into real estate at this point is wise.
OTOH, you should savor your time in your 20s. I had a blast driving fast cars, mtn biking, going out with friends, etc. Live a little and buy that S2000 if you really like it. I would get the S2000 over the Lotus. At least you know the S2000 will last for years and years. Who knows what issues you're going to have with that Lotus.
Oh and one last thing - NEVER make a decision based on what your girlfriend wants. It's your car. You're paying the bills. She should just deal with it. Life's too short to compromise on such a silly thing like your gf's preference for driving stick. If you're dealing w/ issues like having kids or moving to another state or country, then sure you should talk w/ your significant other. Not on shit like driving stick.
Housing in So Cal has cooled off significantly this year. In fact, if you bought in 2005, chances are, you probably lost some value this year. Long term interest rates continue to rise which means less and less people can afford these houses. The fixed rate on many interest only loans are expiring and there will be a larger number or houses on the market or foreclosed as people won't be able to make the payments on interest rates that are a good 1.5-2% higher.
So, in light of this type of market, I just don't think throwing a huge percentage of your income into real estate at this point is wise.
OTOH, you should savor your time in your 20s. I had a blast driving fast cars, mtn biking, going out with friends, etc. Live a little and buy that S2000 if you really like it. I would get the S2000 over the Lotus. At least you know the S2000 will last for years and years. Who knows what issues you're going to have with that Lotus.
Oh and one last thing - NEVER make a decision based on what your girlfriend wants. It's your car. You're paying the bills. She should just deal with it. Life's too short to compromise on such a silly thing like your gf's preference for driving stick. If you're dealing w/ issues like having kids or moving to another state or country, then sure you should talk w/ your significant other. Not on shit like driving stick.
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