[OldJedi]

Originally Posted by formoutofchaos

what do you think a 1ss with Dual exhaust , if I bought it let say 34500, and traded it in when the 1 le came out? what would I hit on that? 4k?

I figure you lost a minimum of $5,000 as soon as it crossed the sidewalk to the street.

[formoutofchaos]

Will be a cash purchase , I'm not sure 5k is worth the loss but if I can get it down to 3 k it's worth it ... What do you guys think also what price should I fight for with 1ss and dual exhaust close to 34k?

[possibly_burrito]

You're still going to lose more than $5k in depreciation, no matter if it's cash or not.

[raptor5244]

Originally Posted by OldJedi

I figure you lost a minimum of $5,000 as soon as it crossed the sidewalk to the street.

Indeed. Definitely, should only buy used in this scenario.

[Egon]

I may get ridiculed for this suggestion, but if you absolutely can not wait 5 months then take that $3,000 and buy a late 90's or early 2000's Mazda Miata and a good set of track tires, and track the ever living shit out of it until the 1LE is available. The tax, title and insurance will be minimal, and you can sell it for what you bought it for and you won't have to wait until it sells in order to fund the purchase of the 1LE since it only cost you $3000 in the first place. (very little risk this way) Sure it won't have anywhere close to the power that the 1LE has but they are a blast to drive fast. (trust me they are totally awesome)

But if you want my real opinion, I think this whole thing sounds like a huge financial disaster in the making. The fact that you have asked this question twice (in the 1LE forum here and again yesterday in the general forum) and despite getting some really excellent advice to wait should tell you this is a very irresponsible idea. From the other thread you started in general it sounds like you are in graduate school, and you mentioned here that you have a daughter. Are you financially responsible for her, and do you have student loans for school? If so you have absolutely no business taking on more debt for even one new car much less two in a row. Besides if any of the enthusiasm/impatience you are showing here is detected by the seller you are going to get taken to the cleaners each time. This is a really terrible idea but everyone so far has been too nice to tell you straight out how bad of an idea it is. Sorry to sound like a dick, but unless you are rich you need to start making better life decisions quickly, and if not for you for those you are responsible for. Ultimately I wish you well but please think about what I said seriously before you tell me to F-off.

[OldJedi]

Originally Posted by formoutofchaos

Will be a cash purchase , I'm not sure 5k is worth the loss but if I can get it down to 3 k it's worth it ... What do you guys think also what price should I fight for with 1ss and dual exhaust close to 34k?

I would say to tell the salesperson that you want to pay 15% more than MSRP and that you want to trade it in for 50% of it's wholesale value 6 months later. I do not think you will have any problem making that deal.

[BigGuy81]

Almost every idea the OP has had has been terrible.

Just wait for the 1LE.

[BigEnos]

This is just about the best advice ever. I consider myself an idiot with my money (at least sometimes, usually regarding cars), but I would never, ever do what you are proposing. Just wait, and the Miata is also a great suggestion.

Originally Posted by Egon

I may get ridiculed for this suggestion, but if you absolutely can not wait 5 months then take that $3,000 and buy a late 90's or early 2000's Mazda Miata and a good set of track tires, and track the ever living shit out of it until the 1LE is available. The tax, title and insurance will be minimal, and you can sell it for what you bought it for and you won't have to wait until it sells in order to fund the purchase of the 1LE since it only cost you $3000 in the first place. (very little risk this way) Sure it won't have anywhere close to the power that the 1LE has but they are a blast to drive fast. (trust me they are totally awesome)

But if you want my real opinion, I think this whole thing sounds like a huge financial disaster in the making. The fact that you have asked this question twice (in the 1LE forum here and again yesterday in the general forum) and despite getting some really excellent advice to wait should tell you this is a very irresponsible idea. From the other thread you started in general it sounds like you are in graduate school, and you mentioned here that you have a daughter. Are you financially responsible for her, and do you have student loans for school? If so you have absolutely no business taking on more debt for even one new car much less two in a row. Besides if any of the enthusiasm/impatience you are showing here is detected by the seller you are going to get taken to the cleaners each time. This is a really terrible idea but everyone so far has been too nice to tell you straight out how bad of an idea it is. Sorry to sound like a dick, but unless you are rich you need to start making better life decisions quickly, and if not for you for those you are responsible for. Ultimately I wish you well but please think about what I said seriously before you tell me to F-off.

[Egon]

Originally Posted by BigEnos

This is just about the best advice ever. I consider myself an idiot with my money (at least sometimes, usually regarding cars), but I would never, ever do what you are proposing. Just wait, and the Miata is also a great suggestion.

Yah the OP stopped replying here after I wrote that to him and is instead replying in the other thread he created in the general section. I am assuming he is young because he is in graduate school, but from what he has revealed so far he has made a lot of mistakes in that young life. I am not going to judge him on them since I too made mistakes like that when I was younger, (not nearly as much money as he is talking about but still) but he has to start making better decisions soon or they are really going to cost him in the long run. I know I came off as a little harsh, but I really hope he listens for his own good. In the end though it's not my money or my life to live, and if he has to learn the hard way then that's how it's going to be.

As for the Miata suggestion I figured that would have been the most controversial part of my post LOL. Glad to know someone else agrees with me on their bang for the buck potential. I would never trade my Camaro for one but if I wanted to race and didn't have a lot of money the Miata would probably be at the top of the list of cars to get. They routinely beat me for raw time at Autocross events, but that is to be expected on a tight course that favors their agility. However they are still super fun to drive fast as I have had the opportunity to ride in a few over the years and the grin was ear to ear every time.

[mjk3888]

For what its worth, my fiancee works in finance and auto loans. She comes home every day to tell me rediculous stories about how someone ends up paying 75,000 for a 40,000 vehicle because they keep buying new every 1-2 years instead of leasing. Unless you have enough money to buy this car in cash, you should never make a purchase like this. You will end up being upside down on your car loan. The car will be worth less than you owe on it your entire ownership. All that debt will get rolled over to your next car loan, which is exactly how you could end up paying almost twice the value of a car if someone is willing to take your money and chance that you won't default on your loan. That won't only affect your car loan it will trash your income to debt ratio and make it harder for you to get loans or mortgages in the future. You will get approved for less and pay higher interest. All because you don't have the patience to wait a few months.

The post about getting a miata for about 3K is excellent advice if you can't stand the wait. I actually found a great 2006 miata with around 100k on the clock for around 5-6 on autotrader yesterday. It would also help you get acclimated to learning how to push a car to its limits safely on a track. If a miata isn't quite your thing then you can also score a 4th gen Camaro or Trans Am for under 5k get a solid 6 speed car and enjoy for a few months then sell it for your new car down payment.

[233]

Originally Posted by Egon

I may get ridiculed for this suggestion, but if you absolutely can not wait 5 months then take that $3,000 and buy a late 90's or early 2000's Mazda Miata and a good set of track tires, and track the ever living shit out of it until the 1LE is available. The tax, title and insurance will be minimal, and you can sell it for what you bought it for and you won't have to wait until it sells in order to fund the purchase of the 1LE since it only cost you $3000 in the first place. (very little risk this way) Sure it won't have anywhere close to the power that the 1LE has but they are a blast to drive fast. (trust me they are totally awesome)

But if you want my real opinion, I think this whole thing sounds like a huge financial disaster in the making. The fact that you have asked this question twice (in the 1LE forum here and again yesterday in the general forum) and despite getting some really excellent advice to wait should tell you this is a very irresponsible idea. From the other thread you started in general it sounds like you are in graduate school, and you mentioned here that you have a daughter. Are you financially responsible for her, and do you have student loans for school? If so you have absolutely no business taking on more debt for even one new car much less two in a row. Besides if any of the enthusiasm/impatience you are showing here is detected by the seller you are going to get taken to the cleaners each time. This is a really terrible idea but everyone so far has been too nice to tell you straight out how bad of an idea it is. Sorry to sound like a dick, but unless you are rich you need to start making better life decisions quickly, and if not for you for those you are responsible for. Ultimately I wish you well but please think about what I said seriously before you tell me to F-off.

I bought a 97 miata as a stick practice car earlier this year. It's awesome.

[Egon]

Originally Posted by mjk3888

For what its worth, my fiancee works in finance and auto loans. She comes home every day to tell me rediculous stories about how someone ends up paying 75,000 for a 40,000 vehicle because they keep buying new every 1-2 years instead of leasing. Unless you have enough money to buy this car in cash, you should never make a purchase like this. You will end up being upside down on your car loan. The car will be worth less than you owe on it your entire ownership. All that debt will get rolled over to your next car loan, which is exactly how you could end up paying almost twice the value of a car if someone is willing to take your money and chance that you won't default on your loan. That won't only affect your car loan it will trash your income to debt ratio and make it harder for you to get loans or mortgages in the future. You will get approved for less and pay higher interest. All because you don't have the patience to wait a few months.

The post about getting a miata for about 3K is excellent advice if you can't stand the wait. I actually found a great 2006 miata with around 100k on the clock for around 5-6 on autotrader yesterday. It would also help you get acclimated to learning how to push a car to its limits safely on a track. If a miata isn't quite your thing then you can also score a 4th gen Camaro or Trans Am for under 5k get a solid 6 speed car and enjoy for a few months then sell it for your new car down payment.

I did a ridiculous amount of research before I bought my 5th gen and somehow stumbled upon a TV show that was available on Youtube called "King of Cars" and ended up watching every episode over a few weeks period. I was utterly amazed about the bad decisions car buyers would make over and over again. The ones that got me the most were the buyers you described who would buy a new car while they were still underwater on their current vehicle. They ended up rolling the loan into the new car and sometimes this was the 2nd or 3rd time in a row they did this. As you said it destroyed their credit and in return they had nothing of real value to offset the debt.

I was 41 before I bought my first new car, as that was the point in my life where I could actually afford one. Because I waited and have been financially responsible I have top tier credit, and I got a great interest rate on my loan, but still put enough down to make sure I was never upside down. And I fully admit that right now I have a serious itch for a new 6th gen 1LE, but I know that time is not now and may not be for a few years if ever because I am financially responsible. (this is also why I spend most of my time here on Camaro6 and not on Camaro5) I don't want to work the rest of my life and that is more important than having the coolest car right now!

One other car to add to the list of inexpensive fun would be the Honda S2000, which I really really like. They are usually 2 to 3 times more expensive than the Miata though but hold their value extremely well. There is also a very robust aftermarket for both the S2000 and Miata if you want to track them and you can really turn them into track monsters if that is what you want to do. They have incredible potential as a dedicated track car, check out this video of an admittedly professional driver in a modded Miata passing a Porsche GT3 RS on the Nürburgring like he is a chump.

[Egon]

Originally Posted by 233

I bought a 97 miata as a stick practice car earlier this year. It's awesome.

The coolest thing about your Miata is even if you do buy say a Camaro later you can still keep the Miata and use it as a dedicated track car saving the wear and tear on your main car and not pissing off your insurance company. Honestly take that Miata to an autocross event, you will have a blast and there will be a minimum of 10 other Miata owners there who will instantly be your friend.

[BigEnos]

Just the consumables alone on a big, heavy, and powerful car for track days will eat your budget. Tires, brake rotors and pads, wheel bearings, etc. An old 4th gen A-sedan car or just a sorted out track toy would also be a faster, but still inexpensive, suggestion.