Sp00led Ya

I have a friend who has a 2004 Cavalier he owes $4,300 on. He is looking to get a new car, loves convertibles but raves about efficiency, he is one of those types. He found a 2001 s2000 in Berlina black for $18,000 and he planned on taking his Cavalier, and the extra equity in the s2000 to pay off the cavalier and have one bigger payment, he would be financing $22,000 total I think not to mention he has $2,600 in savings. He is buying the vehicle in NH, we live in Maine so instead of the tax being included in the financing he has to pay up front when he registers it, draining a good $1,000 out of savings. The car has wheels he does'nt like, he hates black so plans on having them re-powder coated from black to silver, the CF hood it has is not properly painted and in the hood slots, the paint isn't there (cheaped out job), some little dumb tid bits with the car as well (red exhaust tips, red stickers etc). All in all he will be paying $422 per month netting $16,000 per year AND he is in college.

I told him the general "can I afford the car" rule of thumb was if the total cost of the car is more than 50% of your net per year it is too much. I told him he should go with an RSX Type S used, couple years newer for a similar price and he can drive it year round instead of owning 2 cars, he usually carries misc crap in his car and I told him he really doesn't have a grasp of how it sucks to have two seats and barely a trunk, not to mention ONLY being able to drive half the year... and that it's going to suck having a big payment when your car is parked and you drive the Cavalier. MY suggestion was to get an RSX Type S because he has the space, it's still nice... sure it doesn't handle RAZOR sharp as the s2000 but it handles very well AND with intake, header and exhaust it can run close in straight line... bottom line I think he would be JUST as happy with the RSX and he would owe $7000 less overall, AND have $2,600 still in savings.

Overall I don't think he has a grasp on convetibles in cold climate and how you can't even get close to full usage out of them, he'd be happier being able to afford a car he'd most likely love just as much, his defense was the RSX was kind of girly and driving an RSX in the winter would be bad for it (cold starts, salt, sand whatever) I told him a simple car was would do the trick and these cars are made well, unless you plan on owning it for 305049893 years rust won't be an issue unless your an idiot and wash it with salt water. He would have all that spare cash to do whatever with, a vacation, not pinching pennies. He has not driven either, I have and honestly I don't see justification for the extra loot he will have to pay JUST to have the s2000, he is not one to care about mods, power and I know he would think the RSX is amazing I mean **** hes comming from a cavalier.

What would you guys do in this situation, if you were him? RSX Type S or s2000...
please keep the forced induction or car potential out of the decision because he isn't going to mod anything but basic bolt ons and some cosmetics. Thanks

His payment with the Cavalier is $262 per month, to own the RSX it will be only $75 dollars more, and that is it... he will add a couple years to the loan but only $75 more he will pay.


Cavalier $262
RSX$290 somethin, plus insurance difference totals $75 more total vs. $293 more to own the s2000.

Dave2

iTrader: (11)

finish school, get a decent job then think about car. He might end up working 2 part time job while in college and lose focus of his education.

WestSideBilly

iTrader: (1)

50% of his net for a car? Oh, god, please stop now. 25% is too much! Tell your friend to wait a couple years until he actually has a job. What is he going to do when his tires are bald and they'll be a month's salary? And when october rolls around and he needs snow tires and rims (2 months salary)? Has he looked into insurance ($100/month minimum)? This sounds like a horribly delusional young guy.

As far as the cars, that S2000 is overpriced even without that addons, and if he doesn't want any of them, why pay for them? He should be able to find a stock S2000 in a color he wants without the mods for $17k.

The RSX-S is a fun car to drive, roomy, practical. The only people who think they're girly are those that haven't driven one.


Regardless, he shouldn't be shopping for a $18k car with a $15k salary.

Kwman

iTrader: (4)

I would have to agree to keep his cavalier. Stay in school and finish it up first. It sucks but you gotta do what you gotta do.


Before you say: Its easy for you to say. No, its not at all. I'm 20 and I'm selling my evo because I have to afford tuition as my parents are no longer willing to support me in transferring schools. Just tell him to get it done and then worry about a car.

Sp00led Ya

He makes like $10.75 an hour, works 40 hrs a week and will have a second job in the summer.

Kwman

iTrader: (4)

Trust me man, I have two jobs, one is 11 dollars an hour tax free managing our family's hotel, and the other is 16 an hour as a personal trainer at Capital Fitness, it will wear you down and your wallet will suffer. Please just tell him to wait a bit.

mitsuozboi

iTrader: (18)

in his position and from what you told us. rsx for sure.

prostcj

iTrader: (17)

[QUOTE=WestSideBilly]50% of his net for a car? Oh, god, please stop now. 25% is too much!

I don't think a lot of us net more than 120K per year and yet we own 30K cars.

SLVROZ_03

iTrader: (10)

With 2 jobs, when do you find time for fun with the car anyways? I know when I was in college full time and working full time; I was lucky if I found time to change the oil or go to the beach... Tell him to bear with it for the next to years, and get himself a nicer car then.

Sp00led Ya

The RSX is only adding $75 per month though, he wants one of the two... $75 isnt anything big. remember this, so before you say GO cavalier... think he wants one or the other, s2000 or RSX and the RSX only costs $75 more a month and he doesnt need to touch his savings, the s2000 he needs to damn near drain them to get into the car.

WestSideBilly

iTrader: (1)

I misread that - my mistake. I thought he was implying spending half his income on the car each month.

WestSideBilly

iTrader: (1)

The S2000 shouldn't even be a factor in this. RSX or keep the cavalier.

purecoda

iTrader: (6)

i'd tell him "stop looking at effing cars and go read a book or something".

hueman

iTrader: (17)

tell him to go for it. he'll learn his lesson soon enough. people that think about things like this generally are going to do what they want.

s2KMR

iTrader: (5)

go with the RSX .. no brainer