Advice for a future ISF owner?
Pit Crew
Joined: Jun 2010
Posts: 194
Likes: 2
From: CA
Thanks for the advice everyone. I currently am not in school and still live at home. About the $400 a week part that is on average but overtime does happen here and there so i could make a little bit more depending on the things we do. I spoke to my friend earlier today and he told me the only thing he did for his 08 F was just oil changes owning it for 10 months and putting on 6K miles on it of owning it. It is a reliable car since I have not heard anything bad about the ISF's. About the navigation digitizer part, I had it happen to me on my 250 and had a friend fix it for a very good price. And about the insurance part I was not kidding lol. Having a good driving record and credit helps a lot. I almost had the 250 for a year but here's the downside of the 250. It's at 151K miles right now and the value on it is really low so it's time to switch soon. In the time being I am learning a trade that can bring in more money to my pocket so it doesn't bother me. Just have to make good choices and enjoy life since you are young once and make the best of it.
You are absolutely right life is too short to drive boring cars. But dont do it when you are not ready. I bought 5 cars all within the last 3 years and own them concurrently with no loan,after I feel comfortable with the economics. But I was driving boring cars for 10 years before that while in college, saving up as much as I could.
Speed costs money. How fast can you afford to go?
Seriously -$400 a week? I make that before lunch on a bad day. This isn't your 250 and won't be especially if you have to depend on external resources for maintenance. Consider a decent set of front (only) brake pads could cost you a week's salary. Unless you are content buying the tiger and declawing/detoothing it.
Wait. Seriously. Having the resources to comfortably afford what you desire is far more important than being the first to have it in your peer group. I am reminded of the young bull and the old bull...
Seriously -$400 a week? I make that before lunch on a bad day. This isn't your 250 and won't be especially if you have to depend on external resources for maintenance. Consider a decent set of front (only) brake pads could cost you a week's salary. Unless you are content buying the tiger and declawing/detoothing it.
Wait. Seriously. Having the resources to comfortably afford what you desire is far more important than being the first to have it in your peer group. I am reminded of the young bull and the old bull...
Come on, that's not cool. The kid is 23 years old. In this day and age it's just good that he has a job earning some money for himself. We should be guiding him, not making fun of him or self promoting ourselves.
. Retirement is a long time...Dont mind me though--I overspent in my early youth as well and truthfully it is best to get a nice car early on while your house payments etc are low because every year gets more expensive as you go, spouse, house, kids....then hopefully it starts to level off again and you can get another nice car
Last edited by Jz39; Mar 1, 2017 at 07:58 PM.
Advanced
Joined: Nov 2002
Posts: 642
Likes: 35
From: MA
LOL...until your the old guy sitting around with nothing during your retirement while everyone else is enjoying themselves and living large off the money they saved during their working years . Retirement is a long time...
Dont mind me though--I overspent in my early youth as well and truthfully it is best to get a nice car early on while your house payments etc are low because every year gets more expensive as you go, spouse, house, kids....then hopefully it starts to level off again and you can get another nice car
. Retirement is a long time...Dont mind me though--I overspent in my early youth as well and truthfully it is best to get a nice car early on while your house payments etc are low because every year gets more expensive as you go, spouse, house, kids....then hopefully it starts to level off again and you can get another nice car
3k is pretty soon, lol, but 10k is far from the safe side (unless you've had an oil analysis to tell you otherwise). Regardless, if he changed it every 15k miles, he's out of his league budget wise....We've done the math already. The guy above is correct, life is too short to be driving a ****ty, slow car....The is250 is by no means a ****ty car, but most definitely slow as *****. He can somewhat get the best of both worlds by going to an is350, and staying within budget, while getting a newer vehicle. But all our opinion/advice. He'll do what he pleases, lol. V.
Last edited by jspecvtec; Mar 1, 2017 at 08:36 PM.
Bingo. Retirement cash is great if you are even alive to use it. You never know what tomorrow brings.
But on a serious note, I bought my cars before my house. I got the cars out of the way before diving into a mortgage loan. Once you buy property, it gets harder to splurge. Others may not agree with me, BUT you are still young and have tons of time to save up for a house. If you can do it, just go for it. If you have a hefty down payment, your payments won't even be a week's worth of your income.
But on a serious note, I bought my cars before my house. I got the cars out of the way before diving into a mortgage loan. Once you buy property, it gets harder to splurge. Others may not agree with me, BUT you are still young and have tons of time to save up for a house. If you can do it, just go for it. If you have a hefty down payment, your payments won't even be a week's worth of your income.
Racer
Joined: Nov 2014
Posts: 1,419
Likes: 136
From: WA
You got your sights aimed pretty high my friend. I'd go buy a $3000 Honda Accord with a low cost of ownership and work on increasing my income before diving into flagship models.
Lead Lap
Joined: Apr 2012
Posts: 520
Likes: 38
From: Arizona
Based on your income, I would recommend staying with your current car or even selling it for a beater for a while.Then get a higher paying job and then come back and look for an ISF. I was able to purchase an ISF at the age of 22 but I worked my *** off. I worked full time (sales) while attending school full time. My job was high paying for a college student which allowed me to pay my monthly bills while saving up for an ISF. I drove a beater for like 5 years. I went straight from a '98 Accord -> ISF. My advice is either go to school and earn a degree to get a better job or just find a job that pays more than your current job. Best of luck my friend.
Lead Lap
Joined: Jun 2014
Posts: 508
Likes: 27
From: ca
I hate giving money advise to strangers I don't care about.. but I mostly agree with this: https://www.quicken.com/home-budget-...-reality-check
Remember, medicine is likely going to increase this generations life expectancy and I wonder what will become of SS in 50 years.... So this is free advise: an alternative retirement source matters.
Remember, medicine is likely going to increase this generations life expectancy and I wonder what will become of SS in 50 years.... So this is free advise: an alternative retirement source matters.
Intermediate
Joined: Dec 2013
Posts: 436
Likes: 48
From: GA
Intermediate
Joined: Dec 2013
Posts: 436
Likes: 48
From: GA
I agree with most of the advice that has been provided already, which is, “it’s not a smart idea to buy an ISF on your salary”. However, just something for you to think about in the future… just because you can afford to buy an ISF, doesn’t mean it’s a smart idea. Make sure your life priorities are in line before buying a high end car. I know several members on this forum who are super cool guys, have good jobs, make decent money, and have some of the sickest ISF’s out there. Then, you get to know them and find out that they live with their parents, spend every last dollar they make on car parts, have no money in savings, and borrow money just to go out and have fun on the weekends.
Everyone is entitled to spend their money however they like, but at some point in life they are probably going to look back and say something like, “Damn, if I wouldn’t have spent all that money on my ISF or GTR or whatever, I could be living in my very own house in a nice neighborhood”.
Good luck with whatever you decide to to do!
Everyone is entitled to spend their money however they like, but at some point in life they are probably going to look back and say something like, “Damn, if I wouldn’t have spent all that money on my ISF or GTR or whatever, I could be living in my very own house in a nice neighborhood”.
Good luck with whatever you decide to to do!
Advanced
Joined: Jan 2017
Posts: 674
Likes: 50
From: CA
I hate giving money advise to strangers I don't care about.. but I mostly agree with this: https://www.quicken.com/home-budget-...-reality-check
Remember, medicine is likely going to increase this generations life expectancy and I wonder what will become of SS in 50 years.... So this is free advise: an alternative retirement source matters.
Remember, medicine is likely going to increase this generations life expectancy and I wonder what will become of SS in 50 years.... So this is free advise: an alternative retirement source matters.
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