Here is the setup. I am 16 turning 17 in June. My parents are willing to to give me 9k for a down payment of a car. It has to be a Toyota or Honda/Acura and it has to be a new car (they dislike old cars). They say that they are going to pay for the insurance and I have to pay the car. I am assuming that I will have to pay $400-$600 a month. I can bring home about $100-$140 a week. So, I have a choice to make and I need some advice.

Celica GTS is a option. I know many will say RSX-S but the 24k is alot for me . The reason why I am interested in the EP3 is cuz I can find one from 02' for like 16-17k right? The price is very reasonable for me.

But do remember I am 16 and only have a part time job.

 

get a ep3there really cheap and nice. best bang for the buk and a lot of aftermarket will be coming out for it soon.

 

type S rsx

 

i dont understand why these 16-18 year olds want to put them selves in so much financial debt. buy a nice used car. you may be able to swing 400 bucks a month living at home, but how long is that going to last? do yuo really want to be that 25 year old living w/ his parents because all his money went into a stupid car?


[Modified by JoeB16, 12:56 AM 2/9/2003]

 

So how are you considering these cars as options? $400-600 a month for an economy car is a LOT - and you'll be stuck in the payments for what, 4 years? You're going to be spending nearly all of your income on the car payment alone. Don't forget you need to buy fuel and have money set aside for maintenance!

You're either going to have to get something used, or something that's cheaper and not as sporty. Trust me, you don't want to put yourself into so much debt. I've been there before, and I am still there currently. I have made incredible sacrifices in order to keep my Si; I made some very poor financial decisions and I am really regretting everything now. The car really isn't worth it. I should have kept my old beater EX and just been satisfied with it, I really miss that car now, and I especially miss the payments.

I don't understand why people have problems with buying used cars . . . especially as a first car for an unexperienced teenager.

 

By a nice used pickup, and learn to drive.

160hp <--> 200hp + 7k or 8k redline + 17 year old kid = you do the math

 

GO WITH WHAT YOU LIKE - SO WHEN YOU ARE PAYING FOR IT, YOU ENJOY PAYING FOR IT. and make sure its WITHIN ur RANGE. dont get urself into debt like a people have already said above.

 

I do not mind driving a used car, my parents want me to drive a new car cuz they do not want to deal with maintenance. I have saved about 1.5k. I only pay a $20 cell phone bill a month.

I drive my sister's Camry(auto) on weekends. I used to like driving fast but I notice that I do not drive as fast as I used to. The only time I drive fast is when I am in a hurry. 0 wrecks so far .

Another thing I am concerned with is that I have no expierence with manual trans. I want to learn how to drive the stick. The Si and S only come with manual trans. I believe. I have to make a choice of buying a new car from Toyota or Honda/Acura and if I do not buy a car that I like then I wouldn't be satified with paying for a car that I don't like.

What do yall think about base RSX? A great body and a engine of the Si. I think the price of a 03' EP3 and a base RSX is about the same.

Here are some observations.
24k - 9k = 15k DC5
22k - 9k = 13k Celica GTS
18k - 9k = 9k EP3 or base RSX

Please more comments would be great. I did ask for opinions and advice. I never thought about if I did get in debt and the payments in the long run.

 

Hey, I was in the same type of problem you were in. I am 19 and was looking for a car and my parents only wanted me to get a new one. The EP3 is the best bang for the price range. I got an '02 for about 16k out the door, and the put down a $2000 downpayments. My payments, with Hondas special 1.9 APR deal (which lasts till the end of February) is $260/month for 60 months. This is also a buy, not a lease, so you should definitely be able to handle payments for the car. I would definitely suggest the EP3 based on the price range your in, plus its a great car, no matter what other people think

 

I honestly don't understand that. You still have to do maintenance on a new car, it doesn't maintain itself. If I were to buy an '03 Civic Si, it wouldn't be any less maintenance than I do on my '00 Si currently. The '00 is still a fairly new car, it's barely 3 years old and I only have 45,000 miles on it (just breaking it in! ). Buying a new car is a horrible investment due to the quick depreciation. You put money into a car that you'll never get back, just because it is "new."

About debt, when you get a loan, you are already in debt. Trust me, debt really sucks. I'm stuck with $315/month payments for an entire 5 years, and I really regret getting my car for that reason. With my old car, I was already halfway through a 36-month loan for $160/month, and I wish I would have stuck with it. The more money you have to finance, the worse off you are - so I'd suggest making the most you can out of the $9k your parents are generously giving you. Unfortunately, the best way to make the most of your money would be to start with a used car.

Honestly, if you absolutely must have a brand new car and it has to be a sporty car, get an EP3. Some people have been able to talk dealers down into the $16k range, and if you could do it then that would be good for you. You won't be able to do that with an RSX. They both have the same crappy engine and weigh about the same.

Edit: No wonder I failed spelling class back in school.


[Modified by Targa250R, 12:22 AM 2/9/2003]

 

I know a car doesn't maintain itself, I am talking about the problems that the old car already has. But then again my parents don't believe that a old car can be in good condition. I am really confused with the loan material, but I do understand what you are trying to say.

I think I would get the base RSX if I can't talk the dealers to sell me the EP3 for 16k range. I am interested in base RSX because it has looks IMO and a EP3 engine which is not bad. They cost around the same. Yea, that is why I want a EP3 because its affordable for me. Btw, anyone know the cost of swapping the EP3 engine for a DC5 engine?

So lets say that I have to get a old car. Which would it be? DC2? EK?

 

You say that you put 2k down for down payment and with this 1.9 APR you are only paying $260/month for 60 months. So this special APR thing will only only last end of February? So if I put down 9k for down payment my monthly bill would be very low? I know theres a thing where it's only 36 months which the interest would be cheaper so you won't pay as much in the long run, right? I do nto think I will able to buy the car by the end of Feb. so when is another time when they will sell cars for good prices?

 

Loans can be confusing and intimidating for a younger person like yourself, and that's why I suggest to not get in over your head. You don't fully realize the importance of good credit and the consequences of messing up your credit yet. And trust me, being upside-down in a loan and bad credit are some things you want to avoid at all costs. Of course, as generus as your parents seem to be, this may not be a problem for you - but it's always good to learn to take responsibility yourself.

A used USDM K20A2 engine will probably run you around $6500, plus the labor; used JDM K20A-R engines are around the same price. Dunno how much you could sell the K20A3 for though. Of course, the point of buying a brand new car is not to do an engine swap in it. Thowing out a perfectly good brand new engine = , might as well have bought the RSX-S in the first place.

Of course, once the cars get a little older the engine swaps will be a little more common and come down in price. And aftermarket parts support should be strong within the next few years.

If you're willing to get an older car, I'd suggest to look around for a '99-00 Si, or a '98-01 GSR. You should be able to find either one in the $10,000-$14,000 range. That way you'd only have to finance $1000-5000, plus your tax and interest - that would be much more affordable for you with your income, and leave you plenty for fuel, maintenance, mods, and a night on the town cruising with your girlfriend. Not to mention that both cars are quicker than the EP3 stock for stock, and mods are cheaper and more plentiful . . .

However as people have mentioned, don't let anyone (including myself) talk you into a car that you don't like or want. Paying a lot of money over several years for a car that you don't like/want sucks, trust me I know. If you honestly want an EP3 or RSX base and can get one for a good enough price, then I say go for it. As one guy mentioned, he was able to get the special 1.9% APR finance deal on a new EP3 for ~$16K, and his payments are around $260/month. Think you could handle that?

Edit: I did a little calculating, and if you could get an EP3 for around $16,500 from a dealership with a 1.9% APR financing deal (limited-time-only special) for 36 months, add tax and financing fees and subtract your $9000 down payment, you could be looking at a payment just under $250/month for 36 months. Not bad . . .


[Modified by Targa250R, 8:28 PM 2/9/2003]

 

Basically in the end it all comes down to what do u want...........I can tell you right now that either way ur gonna be workin like crazy to keep ur car. I got a friend that are workin 40+ hrs a week to make his payemnts but he loves his car (00 Si) and he says it is total worth it. I know that i am gonna be in the same situation as he is but i really want my DC5. So if u really think that u are ready for this kind of burden then i say go for it. And dont forget that college is around the corner. Thank god that GA pays for college. Whatever u decide best of luck.

 

Oh yeah if you really want an RSX for less just find on that is slightly used i.e. less than 9000 miles on it. This way u get like a brand new car........and save cash and pay no taxes or all that other dealer **** they throw in.

 

Hmmm...


So lets say that I have to get a old car. Which would it be? DC2? EK?

00' Si is faster than 03' Si? I thought K series is faster.
Yep.

Sweet

I am really confused on what I realyl want now.

 

Good Idea! It will be hard to find IMO. More advice is would be great.

 

The K20A3 itself is better than the B16A2, however the EP3 Si is slower and doesn't handle as well as the EM1 Si (stock for stock). A little bit of money into tires, engine mods, and suspension can cure that easily though. With some work, the EP3 chassis can be faster and handle better overall, as proven by the EP3 CTR.

 

I remember readign form somewhere at HT that you can put a K20A2 head on the EP3. All I need is the head and RSX-S ECU. How much HP would the EP3 gain? Is it possible to put another kind of ECU built for the RSX-S on the EP3? I think I said that right..

 

https://honda-tech.com/zerothread?id=408331 It's still under debate and hasn't been confirmed yet. I was going to suggest it to you but apparently it's not 100% certain. Apparently someone has said that the bottom end of the two engines is the same and all you need is the K20A2 head ($3800) and the ECU, and you can turn your 160hp K20A3 into a 200hp K20A2.

If you're asking what I think you're asking, an RSX-S ECU wouldn't work well on a stock K20A3, due to the differences in the i-VTEC systems. A Hondata ECU upgrade is available for the K20A3, although you'll have to run premium fuel with it. You can read about the gains here: http://www.hondata.com/k20a3civicsirelease.html

 

Damn whats with parents. I was going to buy a AE86, saw one for $1,800. I had about $5000 cash in my bank, and I was about to buy it and guess what... My parents apparently think repairs on the Corolla GT-S will cost more than the car itself. What BS. If I make the repairs myself it should only cost me a couple hundred dollars tops. A new clutch and some minior changes only needed. Then when I was about to buy car they transfer $4000 of it into my education fund. Oh well I guess it's for the best... . Anyways back to your question. Go with EP3, the least expensive of the 3 so save some cash. (In my opinion)

 

go for the EP3. right now i pay 250 a month for mine, the insurance should be a bit lower than a Celica GTS or a DC5 Type S, a base GT or RSX might be around the same so take a look. Don't get the most expensive car you think you can afford, something always comes up and when you dont have any money youll be SOL.

Another option, find a nice GSR.

 

Er, actually, they're right. Why would you buy an old crappy POS like an AE86 for your sole car? When you have a car as old as from the mid-80s, a lot of things need replacement or repair - things that aren't always obvious or apparent. When you have an old beater like that you need another, more reliable car for a daily driver. (And IMHO, a car that handles as bad as an AE86 is not a particularly goo choice for an inexperienced driver such as yourself - and with it being worth as little as it is, insurance would total it with only a little bit of damage.)

BTW I certainly wouldn't expect a car as valuable as an AE86 (in the underground at least) to go for a price as low as $1800 without something being wrong with it. Don't forget that parts for cars like that are expensive and hard to find; you can easily end up spending far more money than the car is worth just to keep it on the road (which I've been stupid enough to do before also ).

 

I agree with other. If you want a brand new car, go for EP3 Si. Other cars would cost too much and you'll be hating the payments.

If you want a used car, either EK9 Si or DC2 GS-R would be a good bet. They are reliable and easy to maintain.

 

I say go with the EP3...when I had my Type S, payments were $495 for 5 years. Now that I have my base my payments are only $280 for 5 years...the EP3 will give you that new car feeling with a little bit of umph...and if you really want to do an engine swap, hmotorsonline has the K20A (JDM DC5 Integra R) for $6200, you can get that and sell your K20A3 and probably only pay a little out of pocket.