Talk me out of (or into?) getting a supercar in my situation
Discussion
Hi All
So here is the deal: next year I plan to buy a supercar (GT-R - ok not an mp4 12c or Aventador type category car but still...). While I am buzzing at the thought of being close to ready to pull the trigger, my head tells me I am crazy to do such a thing, but my heart, in true petrolhead fashon, tells me otherwise.
I work full time, earn 57k, my circumstances are I live with parents (due to family reasons that were not in my control), have an investment property (I've sidelined money to do this property up so it won't effect my ability to buy or run the car), I have no girlfriend (well did...), no kids, parents plan to retire in a year or so time (so I've thought about the implication on the car if bills transfer to me etc). Job security is good (well past probation, full time, got a career plan).
I plan to buy the car (max budget 55k) with cash and have 30k left over (15k for immediate spend, the other 15k locked away for the house).
So I am keen to hear any thoughts of why I should/should not get the car. It seems like a mortgage is always the right thing to do and regardless of whether I am single, married or whatever, a mortgage is a high priority, the car is a sliding window of opportunity, if I am married, I really can kiss goodbye to this opportunity.
So I have posted some reasons below why I should and should not get the car:
Reasons I am told not to get the car:
- It will depreciate (my counter-argument is other ambitions such as climbing Mt Everest cost 60k or so and there is no guarantee you will reach the sumit due to factors out of your control such as weather or if you will even survive harsh weather - I saw the film lol). At least I can sell the car and get SOMETHING for it - this will go into my next mortgage.
- It is not practical (it was never intended to be and is going to be a weekend toy - serious question though - how do you guys justify you use your weekend toys enough if on weekends only?) >>> For me its not the amount you drive the car, but the feeling and the experience
- The opportunity cost is too great ie it is x amount of all your savings (I could wait 3 more years and maybe the car will cost a tenth of my savings but then I may have a lot more outgoings if I am married with kids etc. Many people seem to buy these cars before a property or when they are even earning less than me - not that I recommend that, but yeah. I don't see the point of this argument as I can say that a holiday equals two months wages though of course it won't have a big impact on my life).
- Something can go wrong with it (in GT-R world, gearbox etc) - I plan to get a 2012/13 car which is more reliable and tbh the same can be said about any ambition or when you have kids there can be complications that can cost a lot to rectify/get proper care.
- It will impact on your plan to get a mortgage - I can get the car for a few years, enjoy it, sell it, and with the proceeds and my savings over the year, get another mortgage which is better than get another house, on repayment for 30 years, and have no justification to afford the car.
- Running costs (I've looked at insurance and contingencies if something goes wrong, and I am happy there...)
My friends used to say to me "Having a girlfriend is a real headache and a lot of stress" yet they would not dump their girlfriends and it was probably the best experience in their life (was with my exs). The car is no different, it can give me stress and issues, it's a risk like any ambition in life, but the way it is so liberating and an OMG moment can't be missed.
Reasons to get the car
- It's a once in a lifetime experience that is so unique (being handed the keys, the first drive, customising it, meets and the social side of having this car).
- If I go down the mortgage and/or marriage/kids route, it will be a long way till I get this car and it seems like the R36 will be sold for even more (2nd hand maybe the price of a brand new R35?)
- It's my ambition (why surpress it if you can do it? You will always regret it and kick yourself).
- I am 29 and have worked exceptionally hard in my career so deserve it (ok sounds selfish but I have been studying day in day out to move up in my career - even if I have been sick - to get to this place!).
- I've said to family members that it is not about where I want to go in life with this car, but where I have come from (due to knee injury and other reasons I have given up a lot of things that people take for granted, such as playing football, paintballing, extreme sports - regardless of whether I'd like to do them) so getting the car feels like it provides normality.
- I have always done the right thing which of course does get boring, now want to experience real fun for the first time...
No silly responses like if you have to ask if you should do it, you can't afford it (I've got a spreadsheet of all the running costs and costs of any unforeseen issues and what I predict the car will cost to run on my estimated use).
Your thoughts?
So here is the deal: next year I plan to buy a supercar (GT-R - ok not an mp4 12c or Aventador type category car but still...). While I am buzzing at the thought of being close to ready to pull the trigger, my head tells me I am crazy to do such a thing, but my heart, in true petrolhead fashon, tells me otherwise.
I work full time, earn 57k, my circumstances are I live with parents (due to family reasons that were not in my control), have an investment property (I've sidelined money to do this property up so it won't effect my ability to buy or run the car), I have no girlfriend (well did...), no kids, parents plan to retire in a year or so time (so I've thought about the implication on the car if bills transfer to me etc). Job security is good (well past probation, full time, got a career plan).
I plan to buy the car (max budget 55k) with cash and have 30k left over (15k for immediate spend, the other 15k locked away for the house).
So I am keen to hear any thoughts of why I should/should not get the car. It seems like a mortgage is always the right thing to do and regardless of whether I am single, married or whatever, a mortgage is a high priority, the car is a sliding window of opportunity, if I am married, I really can kiss goodbye to this opportunity.
So I have posted some reasons below why I should and should not get the car:
Reasons I am told not to get the car:
- It will depreciate (my counter-argument is other ambitions such as climbing Mt Everest cost 60k or so and there is no guarantee you will reach the sumit due to factors out of your control such as weather or if you will even survive harsh weather - I saw the film lol). At least I can sell the car and get SOMETHING for it - this will go into my next mortgage.
- It is not practical (it was never intended to be and is going to be a weekend toy - serious question though - how do you guys justify you use your weekend toys enough if on weekends only?) >>> For me its not the amount you drive the car, but the feeling and the experience
- The opportunity cost is too great ie it is x amount of all your savings (I could wait 3 more years and maybe the car will cost a tenth of my savings but then I may have a lot more outgoings if I am married with kids etc. Many people seem to buy these cars before a property or when they are even earning less than me - not that I recommend that, but yeah. I don't see the point of this argument as I can say that a holiday equals two months wages though of course it won't have a big impact on my life).
- Something can go wrong with it (in GT-R world, gearbox etc) - I plan to get a 2012/13 car which is more reliable and tbh the same can be said about any ambition or when you have kids there can be complications that can cost a lot to rectify/get proper care.
- It will impact on your plan to get a mortgage - I can get the car for a few years, enjoy it, sell it, and with the proceeds and my savings over the year, get another mortgage which is better than get another house, on repayment for 30 years, and have no justification to afford the car.
- Running costs (I've looked at insurance and contingencies if something goes wrong, and I am happy there...)
My friends used to say to me "Having a girlfriend is a real headache and a lot of stress" yet they would not dump their girlfriends and it was probably the best experience in their life (was with my exs). The car is no different, it can give me stress and issues, it's a risk like any ambition in life, but the way it is so liberating and an OMG moment can't be missed.
Reasons to get the car
- It's a once in a lifetime experience that is so unique (being handed the keys, the first drive, customising it, meets and the social side of having this car).
- If I go down the mortgage and/or marriage/kids route, it will be a long way till I get this car and it seems like the R36 will be sold for even more (2nd hand maybe the price of a brand new R35?)
- It's my ambition (why surpress it if you can do it? You will always regret it and kick yourself).
- I am 29 and have worked exceptionally hard in my career so deserve it (ok sounds selfish but I have been studying day in day out to move up in my career - even if I have been sick - to get to this place!).
- I've said to family members that it is not about where I want to go in life with this car, but where I have come from (due to knee injury and other reasons I have given up a lot of things that people take for granted, such as playing football, paintballing, extreme sports - regardless of whether I'd like to do them) so getting the car feels like it provides normality.
- I have always done the right thing which of course does get boring, now want to experience real fun for the first time...
No silly responses like if you have to ask if you should do it, you can't afford it (I've got a spreadsheet of all the running costs and costs of any unforeseen issues and what I predict the car will cost to run on my estimated use).
Your thoughts?
Edited by Z064life on Saturday 3rd October 20:02
Edited by Z064life on Saturday 3rd October 20:05
frisbee said:
What do you want to do with the car? Trackdays? Touring holidays? Tearing around twisty roads in Wales?
I don't really see much point in just owning a car unless you use it.
Sorry I was meant to mention that!I don't really see much point in just owning a car unless you use it.
It would be fast road use - touring holidays, driving roads in Wales, runway/top speed events (I don't plan to modify the car to the extent that I change all the engine internals and put on massive aftermarket turbos - though I'd love to
).The other argument is I work in the city and tube it to work so the car is pointless but I could work in a place I drive to work and drive the car 2 hrs to and from work but that's a commute so doesn't justify the car either (will sit in the car park at work!).
Rovinghawk said:
This.
If you get the car then have the decency to double whatever you give your parents for your keep. I presume you DO give them money for your keep?
This. I pay most of the bills for the house etc but can pay more and will pay more anyway if they retire.If you get the car then have the decency to double whatever you give your parents for your keep. I presume you DO give them money for your keep?
As for having my own house, it doesn't matter as long as I have a house. No point living in a house and being single? Ok I can get flat mates etc but not my thing, besides, there were/are reasons for the current arrangement so I have to accept that. Doesn't mean I should change my biggest dreams for it?
bobbsie said:
Go for it.
btw, why a GTR? that's an interesting thread in its own right now we've talked you into spending the money.
One thought, whatever you do try to minimise depreciation or a money pit type car with high bills.
relevant as it affects your ability to spend on your next car...
Once you do it, no regrets, life's too short.
Well there is the Gran Turismo factor. When I was 11, Gran Turismo was released and that gave me my first insight to Skylines but I never took much notice of the car then.btw, why a GTR? that's an interesting thread in its own right now we've talked you into spending the money.
One thought, whatever you do try to minimise depreciation or a money pit type car with high bills.
relevant as it affects your ability to spend on your next car...
Once you do it, no regrets, life's too short.
But there's way more. I remember the first time I read Japanese Performance in 2001/02 and saw Ten Of The Best results and all the 600bhp R33 GT-Rs. I love the Z06 too, reason why that's not an option is the cost of a C7 Z06 is way out of my budget (even second hand although fair enough the car is very new). I also want an automatic or semi-auto car, though I passed my driving test with a manual so the C6 Z06 isn't an option. The C7 Z06 is a serious bit of kit and a crazy car, but the reliability is also another concern.
As for the GT-R, it just invokes so much emotion in me. Can't really explain why/how. The car is fast, has road presence, etc. For the budget, it is best car I can get I feel (though has its flaws!) and there is a lot of choice. Also the way it is a big car makes it look better to me! I actually prefer the R34 GT-R as it looks less boxy and has an I6 which can sound mental (but again, a manual).
I could get a Civic Type R, or an R32 GT-R, or an old stripped out track M3, but the ambition will remain and box not ticked. So it will be a waste. That type of car would be for later.
As for the person who said he would charge his kids 1k a week in rent if they could affod this car, thanks for letting us know your parenting techniques.
As for the person who said its admirable living wth parents, thank you! There is a cultural factor but then going this route, loosing my independence slightly (though what am I planning to do, bring a girl back home for sex? That can happen anywhere! lol) and being on the property ladder sooner, is much better than moving out and paying ridiculous rent for a bedsit in London.
There can be anyone who has to live with parents as parents may be ill etc, it's just the card you're dealth with (that's not the situation here but yeah).
As for paying a year's salary on a car, yeah that is ballsy. But then I guess when I sell the car, I will eventually have a cheap trackbased car like an Integra for thrills. I'd rent a supercar but then there is a ridiculous excess fee if there's an accident.
15k is for house renovation, a mortgage fund will be in place when the car is sold.
Plenty of people get cars like this when married but for me I plan to stay in the same company for a while so no big pay increases (as I gained when I moved companies frequently earlier in my career), and I can't justify this car with kids and all the other responsibilities. People do it, but I guess that's how I see my own circumstances and life panning out. But I am educated and competent at what I do so I can make anything happen!
Pesty said:
That.
I knew the usual gtr b
ks would come out. If I pulled a bird and she turned her nose up at my car I'd ditch get anyway doubly if it were a gtr.
Just to throw a spanner in the works a brand new v8 mustang fully loaded is 36k. Just saying. Not a patch on a gtr obviously but if you wanted a middle ground money wise you could do worse.
Interesting. I do love a V8 (ie Z06) and the new Stang looks good, but yeah I guess it's GTR. I thought of a supra twin turbo but finding a low mileage auto car seems impossible now I knew the usual gtr b
ks would come out. If I pulled a bird and she turned her nose up at my car I'd ditch get anyway doubly if it were a gtr. Just to throw a spanner in the works a brand new v8 mustang fully loaded is 36k. Just saying. Not a patch on a gtr obviously but if you wanted a middle ground money wise you could do worse.
If only I was in this position in 2001 or so, I'd have got that!Gassing Station | General Gassing | Top of Page | What's New | My Stuff