I am like a tree swaying back and forth in a storm, I can't decide what car I want to get. I've been working hard lately and busting my *** saving up money and what not to get a new car. I'm selling my 1997 ITR because it's just way to much hassle in the end to repair. I wanted something that will be reliable but fun at the same time. But damn, I can't make up my mind.

Right now I've narrowed down my choices. I've always wanted an E46 M3 ever since it came out. Now that I'm making enough money to finally afford one I'm kinda second guessing myself because it's such an expensive car. No doubt it's extra bling, but damn it is a very nice ride. I originally placed an order for one several months back. Then with talks about an upcoming pay cut at work scared me off and I ended up purchasing a motorcycle. Now I'm back with two jobs and even working side jobs here and there and finally can afford one. So this car is number one on my list.

The second car. You guessed right. Buying a 2001 NHBP ITR and making it similar to my old setup. Which was F-U-N! I just never had enough money to finish it. But now I do. Watching some old videos of her made me think twice. The advantage of bring my ITR back to life is that I will have alot of money left over to mess with. Anyone with a 2001 NHBP wanna trade plus some cash?

I know this is going to be a bit biased, but the majority of ITR owners are open minded enough. This isn't a comparison between which is faster by the way. Or a comparison between the two, they're OBVIOUSLY IN TWO ENTIRELY DIFFERENT CLASSES.

What would you do and what things would you think about before making this decision?

Look at some of these videos here:

"Right Click" "Save As" please.
http://lenchan.web.aplus.net/images/Movie_0002.wmv
http://lenchan.web.aplus.net/images/Movie_0004.wmv
http://lenchan.web.aplus.net/i...N.wmv [27Megs]
More on the way...




Modified by len at 9:41 PM 7/30/2004

 

If you're thinking of a new M3 or another R, I'd say go for the R. Monthly car payments will own you. Trust me, I hate when people tell me what to do with my money too, but that would be kinda stressful being in that much debt. If you have considered dropping around 30K, I'd do an STI. Otherwise, an ITR under 20K or so is pretty tempting.

 

i would consider the M3 if you have kids. Since I know you work at Acura you dont have to worry about a "professional" image, so if the R is up your alley then by all means i say go for it. Its all about what you want more, and having the $ to do it comfortably. good luck

Edit: Even if you do get a NHBP R... its still an R and the security question comes up again, you know how that goes. Dunno how i forgot that the first time

 

Just buy my car

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by 2000 Integra R #760 &raquo;</TD></TR><TR><TD CLASS="quote">Just buy my car </TD></TR></TABLE>

PM Sent. Car looks beautiful. *drools* I do need a FBP to complete my ITR collection. LMAO

 

look at it like this?

will you have to completely bust your *** to afford the m3? if not go with the M3.

id go with the R, try to get it paided off fast. so you can afford other **** in life

 

go with the m3 cause thats what your *** has always wanted dammit, the only reason i would say dont go with it is cause of payments and having to work this hard all 5 years you have that payment........

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by Jordo &raquo;</TD></TR><TR><TD CLASS="quote">look at it like this?

will you have to completely bust your *** to afford the m3? if not go with the M3.

id go with the R, try to get it paided off fast. so you can afford other **** in life </TD></TR></TABLE>

I agree.

One thing I have learned is, financial circumstances can change overnight. Suppose that pay cut came through, or (knock on wood) you lose your job and you're out of work for a while. If that happens, would you be looking back and saying, "Gee, now I'm really sorry I made that stretch to get the more expensive car", or "Gee, I enjoyed it while I could and I still saved plenty, I have no regrets now"? If you think you might regret it, then don't get the M3.

I'm not knocking the M3 - it's a great car - only suggesting that you shouldn't stretch your finances to get any car.

 

Good Advice guys. That is the primary reason why I've been so wishy washy. The little kid inside my head keeps yelling, go ahead and do it and worry about the consequences later, but the more mature side of me is saying...you know what, it's better to prepare for the worse. Thanks everyone.

 

Having a chunk of money is nice to sit on! I would know! Thinking about buying a house within three years, so i gotta save it. In the mean time my budget race car will be more than enough fun for me.

 

Saving money is good. Not just the payment, but the interest too. Although you do need to comparre total cost of ownership. Not sure if BMW is doing free scheduled maintenance on pruchases, but prolly only on leases. Bimmers are also very expensive to maintain, vs the R where you get cost on parts and can do all the work yourself. Bimmer insurance will be more too, due to valuation.

Not to mention, if you put the difference of the two car payments into conservative investments for those 5 years (and roll over the returns), you'll have made enough return to buy a bimmer outright. Do it in a 401K (and maybe get a work match), or a combo of 401K and IRA, and you will not pay taxes on that part of your income until you pull the money out after age 59-1/2, when your total tax % will be much lower. The IRA part will also give you a tax break each April. Hint: Do max IRA contribution (prolly $3K), and at least 10% of pay into 401K. You can always borrow against either/both at a low interest rate without incurring a penalty if you really need cash later. It might hurt a bit now, but not really, and you will thank me in 5 years, and for the rest of your life after that. It comes out of your check before you see it, so you can't spend it.

You also want to buy a house - trust me on this. Tax advantages (interest write off, so you keep more of what you earn in the first place), credit benefits, appreciation (real estate is a gold mine), and not losing money on rent TOO (once you move out). If you already have good credit from a car loan (or you do a partial R loan), that will help you buy a house. If you are loaded with debt on a 50K car, you can't buy a house at all (debt ratio too high). But owning an R outright is an asset that counts toward net worth when you go to buy a house. So does IRA / 401K.

Some things to consider. All taken together, this is thousands and thousands and thousands of basically 'free' money you would otherwise not have and/or pay in taxes each year. My .02, and why I bought my R instead of something more expensive (e.g. New Maxima or Toyota truck with payments for 10K+ more).

Not to mention, when you look back in 5-10 years, you will find as I did, that work and saving only get harder as time goes on. Use your 20's and early 30's to save as much as you can, so you can coast in your late 40's and 50's. Money making money for you, so you don't have to work so hard = priceless. Working 3 jobs now is easy, but in your 30's it won't be so easy. Truse me on this.

 

Len - if your choices are between those 2, then go w/ DC2 ITR. Pay off the R, mod it a little, and put the rest of money into IRA.

If you were to put $3k every year starting 22 y.o., you'll have a large $$ after ten years and on. If you wait 10 years and start @ age 32 on IRA ($3k/yr), then you'll be behind ~$100k.

 

Nothing beats an R, you know the deal.

 

E46 M3: If you put down 20k down, you will be financing 45k. In 3 years, you will be paying over $1000/month. If you finance for 5 years, you will be paying ~$750/month, do you want to pay 750 for 60 months?

Get the R.

 

ITR all the way.. I have owned 3 Mustangs 5.0s and a 4.6 2V... Also a 98 LS1 SS.. Overall buying my ITR was the best thing I have done.. I love the car and enjoy driving no matter where I may go.. Also the gas mpg is great even with having a fully built N/a engine.. Still get like 24 city and nearly 30 hwy.. But the bottom line is.. They are awsome to drive and own...
Kevin

 

personally if you want a M3, i'd get E36 instead of E46
E46 w/ understeer
E36 was real breed just like ITR
but E36's stock suspension won't last more than 50k miles
like how everyone else said, it's always nice to have little extra room to breath instead of chocking on car payments

 

Wingless '05 STI.

 

Is an STi out of the question? If it is, I would get the ITR.

 

You can get my R.Give me your CW R and some Cash for my FBP .

 

If you can definitely afford so, pick the M3. Much more comfortable, dont have to worry where you park it all the time, still world class performance and a hell of a lot better to drive around town. Once you start driving a RWD performance car like an M3, you wont go back to FWD. I loved my R, but being the envy of every high school riceboy and getting occasionally harrassed by others due to the fact that i have an "Type R" sticker on the rear, makes owning the car a pain in the ***.

 

How about an S2k? You can get one for about the same price as an ITR. If it's not practical enough, then go for the ITR. The M3 is a nice car, but like others have said, you might be able to buy the car, but you probably won't be able to afford it. (At least from what I gathered)

 

Hey Len ill never forget this video

http://www.we-todd-did-racing....DE%3D

You cant go wrong with any of the mentioned cars. I want an ITR myself so my suggestion would be somewhat biased. Good luck.

 

Go with something modest and simple. Save up some $$$.

Don't get yourself into a hole by purchasing an expensive car like the M3. Put money to good use, maybe help your family out a bit.

In the end, I hope you reach a satisfying decision. Good luck!