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Should I go 8K into debt?

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Old Aug 15, 2002 | 05:11 PM
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Default Should I go 8K into debt?

Is it worth it? Everytime you get into your ITR do you absolutly love it?

Long story: Today I had to help a friend move some stuff from her sisters house to hers. As we pull up to the house I notice an 8 car garage and a closed trailor for a race car with SCCA stickers all over it. I am like holy **** why do they have so many garage's? She goes on to tell me that her brother in law likes to track cars.

We walk into the garage and right there are 2 Porches and the Black ITR of my dreams. I end up talking to the guy for about 30 min. about his racing etc. and got to look at his other 3 cars including the race car. He showed me some pics of him racing etc.

So I go on to tell him how much I love the ITR and he asks me if I want to buy it He is going away for a year to his house in the Cayman islands and doesn't want it to sit there and do nothing

This means that I would have to sell my car and spend all the money I have saved up and I would still be about 8k in debt. But I would also have the car I have allways wanted since I started driving...

So I ask you, the people who drive one everyday. Is it worth it?

<---who is soo happy but knows he will be in like 8k worth of debt if he does what he wants...
Thanks for the time
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Old Aug 15, 2002 | 05:14 PM
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Default Re: Should I go 8K into debt? (ReBornGSR)

The ITR was worth $22k in debt to me. I've since gotten it down to about $18.6k

I say it is totally worth it if you want to autox and/or go to track events. If you are only going to daily drive it, then many other cars will suffice for less money.
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Old Aug 15, 2002 | 05:16 PM
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Default Re: Should I go 8K into debt? (Bob#455)

my ITR put me in debt 18k..(which is now all paid off)..i daily drive it, totally worth it
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Old Aug 15, 2002 | 05:27 PM
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Default Re: Should I go 8K into debt? (98itR484)

I still owe about 19k ..well worth it. Whats mods are done to the ITR?
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Old Aug 15, 2002 | 05:27 PM
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Default Re: Should I go 8K into debt? (98itR484)

I think i speak for everyone when i say.....**** YEA ITS WORTH IT!!!
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Old Aug 15, 2002 | 05:29 PM
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Default Re: Should I go 8K into debt? (ReBornGSR)

I'm still roughly about 20,000 in debt for my ITR. I cringe every month when the monthly payments are withdrawn from my account. But every time I go for a drive, it makes it all worth it
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Old Aug 15, 2002 | 05:36 PM
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Default Re: Should I go 8K into debt? (type r 01-1063)

I wouldn't go by the opinions of people in this forums, no offense to anyone. I would love to have an R by all means (I can see you would too) but I'm just saying to go by your current financial situation. If you feel you can handle an 8k debt then go for it. I would sleep on it though........ But then again, its a type-r, when will you ever get this chance again?
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Old Aug 15, 2002 | 05:38 PM
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Default Re: Should I go 8K into debt? (slowassR)

I still owe about 19k ..well worth it. Whats mods are done to the ITR?
He has Ebach springs on it because as he said "he hated how it handled stock"
The car pushed with too much understeer...

And a set of rim/tires I don't know what kind they were b/c I had never seen them before but he also said that he would include all the stock stuff along with it.

Oh and its wingless with tints(maybe 35%)...I didn't have time to really talk to him about it but I am going back next week to "help" move stuff but I just want to see it again.

<---who is wondering how much he can get for his GSR
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Old Aug 15, 2002 | 05:41 PM
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Default Re: Should I go 8K into debt? (97RedTegGSR)

I wouldn't go by the opinions of people in this forums
I am not but I figure who better to ask then them. I know a few people from this forum with R's and they seem to love them, I was just wondering what everyone else feels.

As far as my GSR I paid off the 5.6K debt in under a year easy so I think I might be able to handle this, just maybe.
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Old Aug 15, 2002 | 05:47 PM
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Default Re: Should I go 8K into debt? (97RedTegGSR)

I wouldn't go by the opinions of people in this forums, no offense to anyone. I would love to have an R by all means (I can see you would too) but I'm just saying to go by your current financial situation. If you feel you can handle an 8k debt then go for it. I would sleep on it though........ But then again, its a type-r, when will you ever get this chance again?
I agree with this guy. Most of the people here will list a couple of bad things about the ITR. For example...

1.) You'll be more likely to get harrassed for a race on the streets.
2.) You'll have to worry about theft even more since the car stands out more than a regular integra on top of having a B18C5 under the hood, 5-lug conversion, etc, etc, etc...

But the positives almost always outweighs the negatives and in the end, they'll tell you to get the car. Here's my suggestion...ask the guy who's selling the car for a test drive. I'm sure he wouldn't mind you doing some spirited driving (just don't mis-shift) since he's a racer himself.
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Old Aug 15, 2002 | 05:53 PM
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Default Re: Should I go 8K into debt? (CPR)

I'm sorry, but I think it is stupid to go into debt. I mean I love my ITR, but why don't you just save up the money? Sure, it might take you a while, but who cares? Save up some cash, sell your car, and pick up a 98 ITR. There are several advantages to this. First, you won't go into debt; second, you'll have the foremost sought after championship white; lastly, if you are patience you will be able to find a good deal on a 98. The only disadvantage to this is the time you have to wait to get your dream car. Nevertheless, I think you would be happiest if you followed this plan of attack. However, it is your credit and mindset. Do whatever you want!
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Old Aug 15, 2002 | 05:56 PM
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Default Re: Should I go 8K into debt? (ReBornGSR)

One more thing...

If you're a lot like most of us, you'll be more than 8K in debt once you get your hands on the car. First you're going to get the JDM size header and cat. Then you're going to want to upgrade the flywheel, clutch, final drive, cams...shall I go on?
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Old Aug 15, 2002 | 06:04 PM
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Default Re: Should I go 8K into debt? (CPR)

One more thing...

If you're a lot like most of us, you'll be more than 8K in debt once you get your hands on the car. First you're going to get the JDM size header and cat. Then you're going to want to upgrade the flywheel, clutch, final drive, cams...shall I go on?
Well since its allready faster and handles better than my car I think I will be ok for a little while. And I do have that JDM ITR 4-1 on my GSR. Then an Icebox wouldn't hurt anything. But I'm getting ahead of myself...

As far as the debt goes I might just be able to swing the same deal as I had on my GSR. My parents will lend me the money and I pay them back. So its not affecting my credit in any way and I will have no intrest to pay. I think that he will have no problem letting me take the car for a drive...thanks for the insight so far and keep it coming
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Old Aug 15, 2002 | 06:07 PM
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Default Re: Should I go 8K into debt? (ReBornGSR)

My parents will lend me the money and I pay them back. So its not affecting my credit in any way and I will have no intrest to pay.,,
That is a good road to take...

Make sure you say 'thank you'
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Old Aug 15, 2002 | 06:12 PM
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Default Re: Should I go 8K into debt? (Flux)

One of the reasons I sold 009 was because of debt...

It wasn't the fact that I couldn't afford the car - I could, and then some. But selling the car gave me the opportunity to lower my car payment, lower my insurance and pay off all my other outstanding debts (line of credit and two CC balances).

Was it worth it for me to sell? Yes.

Do I miss the car? Not really.

Would I do it again? Only if the replacement car was as fun as the Turbo Pig.


Pat, who agonized for four months over selling out, but is glad he did
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Old Aug 15, 2002 | 06:14 PM
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Default Re: Should I go 8K into debt? (ReBornGSR)

If that is the case, buy it. Especially if you can pay it off within a year. A year goes by faster and faster as I get older

As far as the debt goes I might just be able to swing the same deal as I had on my GSR. My parents will lend me the money and I pay them back. So its not affecting my credit in any way and I will have no intrest to pay. I think that he will have no problem letting me take the car for a drive...thanks for the insight so far and keep it coming
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Old Aug 15, 2002 | 06:14 PM
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Default Re: Should I go 8K into debt? (ReBornGSR)

How fast can you pay it off?
To answer your question... Every time I get into my R I have fun.
Its just something about leaving an interstate offramp at close to 100 mph without worrying about the car breaking lose. Or entering the highway from a windy intrence ramp hitting the apex just right and passing cars in 3rd gear at 8,000rpm as you enter.
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Old Aug 15, 2002 | 06:18 PM
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Default Re: Should I go 8K into debt? (jond)

Yet at the same time. I actually had a dream about my car getting stolen a few nights ago. I think thats the first time thats happened, but my point is, its a real concern with a ITR. Espically in NY. ITRs dont seem to have much luck up there.




[Modified by jond, 10:18 PM 8/15/2002]
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Old Aug 15, 2002 | 06:24 PM
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Default Re: Should I go 8K into debt? (jond)

Yet at the same time. I actually had a dream about my car getting stolen a few nights ago. I think thats the first time thats happened, but my point is, its a real concern with a ITR. Espically in NY. ITRs dont seem to have much luck up there.
This is also a Huge concern of mine. So far with my GSR I have never had a problem. I don't/won't go into the city with my car and I have never know anyone who has had there car stolen here(knock on wood) Then again I live in a VERY small town/community I stay away from the ricey import scene and no one looks twice at my car...
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Old Aug 15, 2002 | 07:08 PM
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Default Re: Should I go 8K into debt? (ReBornGSR)

Getting in debt is bad, as always. But ...

Can you deal with the theft issues? Can the money that you're going to spend be put to better use (a.k.a. real estate - although prices for good real estate has been skyrocketing in the Tri-State area)? Can you deal with the insurance within the Tri-State area?

Depending on your answers, I'm sure you'll come up with your own answer.

Then again ... you only live once. Yes, there will hopefully be bigger and better things out there. But whos to say that you're not going to kick the bucket choking on a fishbone at some resturant in the near future.
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Old Aug 15, 2002 | 07:13 PM
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Default Re: Should I go 8K into debt? (ReBornGSR)

If you are going to do it make sure it is absolutely really what YOU want.

Make sure you are committed to wanting a car that is torque-less, high-revving, front wheel drive, track inspired ... etc ... (all the goods/all the bads)

Don't do like Pinhead and realize later that you wanted something that the ITR isn't . Don't just jump on this now because it was available and it seemed like an opportunity that you didn't want to pass by.

That being said, if you heart is in it, GET IT NOW. Sounds like that you be a good owner to buy it from. Sometimes I think to myself "why do I like my GS-R?" there are plenty of muscle guys down here in Texas who could tell me why I shouldn't ... but at the end of the day the decision is yours, not anyone else's ... and it is going to be more pronouced with my big brother the ARRRRRRR
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Old Aug 15, 2002 | 07:17 PM
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Default Re: Should I go 8K into debt? (thk)

Can the money that you're going to spend be put to better use (a.k.a. real estate - although prices for good real estate has been skyrocketing in the Tri-State area)?
I'm only 18 so real estate isn't that big of an issue right now

Can you deal with the insurance within the Tri-State area?
I have to check with my insurance guy tomorrow(close family friend) but I am not a driver and it will be registered under my moms name.

Then again ... you only live once.
I totally agree with this and thats why I am considering it.

But whos to say that you're not going to kick the bucket choking on a fishbone at some resturant in the near future.
My family owns a restaurant so if I die its there own friggin' fault
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Old Aug 15, 2002 | 07:23 PM
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Default Re: Should I go 8K into debt?

I agree you have to figure out your own financial situation for yourself, but I'll tell you my experience anyway in case it helps.

I had a 96 GSR that was 2 years old when I got an opportunity to buy the 98 ITR. I had convinced myself from the magazine reviews that it wasn't worth it. One day I was at the dealer doing the 30k service, and they had an ITR, and they let me drive it (very shrewd on their part). It was a lot different than I expected -- more difference from the GSR than expected. Other people's assessments will vary a lot on this point, especially with a modified GSR (mine was stock), so insert your own opinion here. If possible, drive the ITR first.

I figured it would cost me about $10k by the end of the loan, compared to keeping the GSR, but would leave me with a newer car with fewer miles on it. I decided to do it.

I've now paid it off and put 81k miles on it. I have never regretted getting it, and enjoy it a lot. The only negative, really, is the theft thing (mine was almost stolen 2 years ago). It is a serious consideration, and could be a show-stopper depending on where you live. It was really bad earlier this year, but it seems to be calming down a bit now -- I hope...
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Old Aug 15, 2002 | 07:25 PM
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Default Re: Should I go 8K into debt? (98R-1003 US)

Its an awesome feeling. Its like when you were little waiting to get home from school to play on your Nintendo...

Constant compliments that you get all day long.
The "jawdropping, OHMYGOD" others have when you pull up.. heh.

I think this way because before I owned an ITR I worshipped it. Makes you appreciate it a lot more. It's waaaay worth it.
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Old Aug 15, 2002 | 07:30 PM
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Default Re: Should I go 8K into debt?

I'm only 18 so real estate isn't that big of an issue right now
Oh... really? Hmm, in that case, I'd say only get it if someone else can back up the finances (I'm assuming you're not really in a stable, career-type job yet), and only if you are a responsible driver. I'm not too keen on kids with more car than driving skill... I know, it's not fair, but there's plenty of anecdotal evidence in here (ahem) to back it up.

Plus I always wonder what's the point of have a super car right after you get your license? Unless you're going to be rich or spend a large percentage of your money on cars, there's nowhere to go but down in performance! I kind of like that each of my cars has been better than the one before and I haven't had to pony up big money yet...
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