im 20, still live at home, pay alittle rent, car insurance, cellphone, credit card bills etc........im an electrician and make around 35k a year and dont see being able to afford an R a realistic goal. do i not make enough? or do i need to budget better?

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by 93TealSi &raquo;</TD></TR><TR><TD CLASS="quote"> or do i need to budget better?</TD></TR></TABLE>

I would say yes, you do.

or are you in alot of CC debt?

 

When I bought my R I was living at home and making less than $20k a year but no CC bills

 

no, not alot of cc debt, i think i have a total of 300 on all my CC's right now.......hmmmph

 

youy could easily afford it with some budgeting......a wise man once said....if you can finance it....then you can afford it

 

then I don't see that you would have a problem.

when I bought my R I was in the same situation i.e. living at home,rent,cc bills,etc.. and was only making about 30K

 

did all your money go towards car payment and insurance? was money stretched thin? and did you have any help?

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by 93TealSi &raquo;</TD></TR><TR><TD CLASS="quote">did all your money go towards car payment and insurance? was money stretched thin? and did you have any help?</TD></TR></TABLE>

pretty much seemed like I was just working for the car. but I always managed to have spending money here and there. you just need to budget accordingly and you should get by. and no.. no help

 

add all of your spending/earnings and see how much extra $$$ you have left.

if you get a paycheck weekly. add all of your monthly spendins (includes new insurance rate for itr) times 12 month/year divided by 52 or whatever you average in working weeks per year. that will tell you how much you need to save per week. if you get check every 2 weeks, divide by 26.. and etc.

then see how much money you have left after car payment has been added

 

yea, whats full coverage like on the R? how much are you guys paying and what step are you?

 

College student, homeowner, normal bills (no debt!), and I'm more focused on what I can do to make the R faster than simply owning it. 35k spend carefully could get you one hell of an R. Of course that all depends on what kind of debt you have if any.

 

I was in a similar situation you are in, you have to budget. I did have to cut back on some of the nice to have's, so I could afford the monthly payments. I don't have a cell phone. Watch out when eating out, that's a big expense. I’m careful with my money though more than most, I always pay off my CC every month.

The interest portion that you give the CC companies is what keeps the economy chugging along. If every one was as frugal as I am the country would go into a depression.

 

Ok...let's do some math. Do you have budget for what you can spend everything each month? If no, I highly suggest it.

35k a year is right at $2900 a month pre-tax. I'm going to assume you take hom about $2000 a month then.

Rent $300ish?
Cell phone $50
Insurance $150 (guessing)
CC's $200

That is only $700 a month...that leaves you $1300. If you budget yourself $500 a month for food and $200 for entertainment that still leaves $600. I think that you could do it, but your insuance would also go up. Don't forget to save money too, investing is a good thing to start at 20.

It's up to you, but personally I'd get my own place before I bought an expensive car. The choice is yours

 

You can more then afford it, just pay off those damn cc and get rid of them. I will own one credit card in my lifetime for emergency purposes only, they cause too much debt if your not responsible with them.

 

You can easily afford it.

Just depends on what your priorities are.

 

Yes for me.. Just finished up tech school and started with Mazda not making crap.. Barely paid my insurance then went off and got a job with Lexus making like 50-60 a year starting.. Its not that I cant afford my R, it is that my driving style gets me in hot water.. LOL I am facing a few grand in fees and fines for EXCESSIVE Acceleration and doing a burnout.. LOL the burn out was while hammering done on it.. And it was a FEMALE STATE TROOPER.. "lowers in shame"!!
Really it also depends on how you drive and if u plan to race the car or do some track events also...
Good Luck... and Personal I have no regerts about anything with my R..
Kevin

PS.. Ask any R owner how many thumbs up and head turns they get from other drivers who know what a R is...

 

I'm 22 and my husband and I have a $1400 mortgage payment, CC bills, cell phones, utilities, etc. I am only working part time right now because I'm going through school. My paycheck is enough to pay for health and dental insurance for my husband and I and have about $200 left over each paycheck. My car payment's only $220 a month so I have it a lot easier than many people who have higher payments. I bought my car used for cheap.

 

U really need to get a good budget going.

Cause with your few bills to pay and your income, my R would be rockin over 200whp n/a

 

I agree with the priorities thing. I was 29 when I bought mine and was making very close to 6 figures (I had a good year...) I put down 5K, financed for 5 years, my pmt. is $426 per month. I'll have her paid off in 4 months...finally. I now pull in about 65K, and with all my other priorities (mortgage, and all the bills) I can barely make it..so bottom line is priorities and down payment..

 

you can definitiley afford one. When i bought my R i was 17, going to highschool and working 40 hrs a week at 9 bux an hour. Of course i only went up from there

 

insurance is where they get you im 19 and i live at home i have to pay $500 a month for insurance on my 2000 GSR no accidents or tickets.... i think i im going to have to get rid of my car becuase of this and i love my car...

 

Integras and RSX's have sky high insurance premiums. #1 stolen car. When I was 22, Sr22 with a couple tickets my insurance on a 00R was $350-$450. I sold the car as it was not worth $7-850 a month for a car.... Now I'am 26, clean record and for a 98R with 100,300,25. 250 comp, 500 coll= $150 or so a month. I can insure a 05 STI with better coverage, lower deductibles for $115 or so. All in all it's up to you. Goodluck!

 

The bigger downpayment you save up, the cheaper your payments will be.

I put down 5k on my R, and it helped a lot.

 

We're paying $260 a month for insurance for the Type R, a 97 Civic hatch, a 94 Civic hatch, and a 95 Nissan pickup.

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by deputyGSR &raquo;</TD></TR><TR><TD CLASS="quote">insurance is where they get you im 19 and i live at home i have to pay $500 a month for insurance on my 2000 GSR no accidents or tickets.... i think i im going to have to get rid of my car becuase of this and i love my car...</TD></TR></TABLE>
holyshit
u pay $500/month that means $6000 a yr???
dat's insane
i'm at step 24 in mass, starting step is 15. each ticket will add 2 points and accident over $4000 will raise 4 points. and each clean yr will drop a point.
so 15-1+2(speeding)+2(worn tire screeching)+2(speeding)+4(slipped on ice)=24

right now, i work part time making $15k a yr and i still can afford my R.
i pay $250/month insurance and car payment is $350/month for 60months at 4.59% APR