I'm bored and want to buy a car (I am really into cars and don't car for much else, like mortgages and stuff).


I'm only 22 and can afford something reasonably good (let's say I could afford a 1993 ish 500SL or 2000ish E320).


I like Mercedes but it's not that sensible to buy another German saloon car like the one I already have ('86 190E)... and feel there's few other MBs with as good a match of quality/ride/handling/economy anyway. And I wouldn't mind a manual 'box either.



So right now I REALLY want a Honda NSX ("Acura NSX"?!), but people (including myself) say I'll get speeding tickets and won't be happy to pay the 'exotic' prices for parts/tyres/etc especially as it's a pretty rare and now quite old supercar and I'd be better off with, say, an S2000 or Lotus Elise.


But I WANT an NSX! But still the questions hover in the back of my mind...
What advice can you guys give me? Have you followed your dreams when younger? Would you go back a few years and tell your youthful self not to splash out on that 240Z/911/Corvette and save for a mortgage? Or would you do it again and leave even more smoky rubber ?


I'm interested in your insights,


Russ

P.S. I have a girlfriend so don't need the chick magnet thing. Also was born equipped with a lady-pulling Hugh-Grant-like British accent anyway.

__________________
190E's:
2.5-16v 1990 90,000m Astral Silver
2.0E 8v 1986 107,000m Black 2nd owner
http://www.maylane.demon.co.uk/190esmall.jpghttp://www.maylane.demon.co.uk/190esmall2.jpg

Isn't it kinda pointless using a British accent on women who have the same accent?

I NSX'es are good cars as far as I know. I am sure it has the refinement and polish of any Honda regardless of whatever brand the marketing team came up with. If you have the money to burn and have more of it by all means buy one but then again if you don't, the car depreciates and you're just burning your financial resources should you decide to buy a home or property later.

Equity or fast car.....hmmm

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1974 240D 3.0L 4(M) - 250K -OM617.910 + 300D FW + Rajay turbo power!
1977 6.9 3(A) - 84k

Buy the house, then the car. Trust me. I'm 40 and owned far more cars than houses and if I'd had my head screwed on straight I'd have bought houses instead of cars. Besides, with a mortage the interest you write off while living in the house you can pay for (depending on your tax braket of course) a pretty nice car every year.

Having seen the NSX's ripping around the local road coures I can say they look like a lot of fun but so do a bunch of other cars at a far lower cost. The NSX was not an impressivly powerful car to begin with.

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If you want an NSX and can afford an NSX then get an NSX....

do your research before hand and know what you need to look for....and look out for. Personally I will argue dumping that money in a 401K would be a far smarter thing to do at your age.....

__________________
Proud owner of ....
1971 280SE W108
1979 300SD W116
1983 300D W123
1975 Ironhead Sportster chopper
1987 GMC 3/4 ton 4X4 Diesel
1989 Honda Civic (Heavily modified)
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Section 609 MVAC Certified
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"He who fights with monsters might take care lest he thereby become a monster. And if you gaze for long into an abyss, the abyss gazes also into you." - Friedrich Nietzsche

Basically, I hate you. Let's put that aside for a moment.

Wisdom insists that you save some money now and let compound interest begin to work for you early rather than having to save massive amounts later to carry into your (well-deserved) dotage.

Your girl likes you with your present car so no need to upgrade the car unless you're looking to upgrade to girlfriend 2.0

So keep the 190 a couple of more years and put the equiv of what you'd spend on the new car into savings. That's say, US$15K - $20K? That puts you at 24 or 25 and I assume you'll not be earning less money, so you can still buy a nice car in 2 years and keep the girlfriend and nice little car you presently have AND have a nice start on an investment that will appreciate regardless of any additional money you pump in after you start paying for the new car.

Send me US$1,000 for my (nearly) priceless advice. I'm dying with envy, here.

Bot

Maybe I'm living in the sticks here but WTF is an NSX?

Think of what you could buy for say $30,000 US,especially now that the Euro is gonna take a nosedive with this union nonsense with France,Netherlands, ET,AL.

You could get a Riley 9 Brooklands, Austin 7 Ulster, Tourist Trophy MG, why even a Theophile Schneider 12-50, not to mention a decent Delage DISS!
All of which combine fast acceleration with excellent mechanical finish.

How could you compare some tin Nipponese sh-tbox with these durable and fast classics?

Or am I the one in the ivory tower http://http://www.prewarcar.com/searchbymake.asphttp://www.prewarcar.com/searchbymake.asp

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http://www.fantasycars.com/Acura_NSX/acura_nsx.html

Nice car but if I had the money it would go straight to retirement plan and not one of those..............

__________________
Proud owner of ....
1971 280SE W108
1979 300SD W116
1983 300D W123
1975 Ironhead Sportster chopper
1987 GMC 3/4 ton 4X4 Diesel
1989 Honda Civic (Heavily modified)
---------------------
Section 609 MVAC Certified
---------------------
"He who fights with monsters might take care lest he thereby become a monster. And if you gaze for long into an abyss, the abyss gazes also into you." - Friedrich Nietzsche

dude, i'm 21 and my face is now green after reading your post. I'm struggling to maintain an acura integra properly and afford my 420 dollar a month rent bill, you lucky dog you. That NSX is sweet, and lord knows if i had the money i'd definately get one, but a house would be more important to me. I hate apartment living, all the people around you, can't stomp around drunk at 1 in the morning, it sux. If you already have a house then go for it man, its a hella-sick car, and i'm sure you'd love every minute driving it.
Ryan

__________________
83 300SD.......sold
96 integra SE....sold
99 a4 quattro....sold
2001 IS300.......sold
2002 330i.........current.
2004 highlander limited....current.

Ok, man, I see your point.

However where there's a will there's a way.

Guy down the block has an MG TF project his wife won't let him complete,$2,000.

When I was younger I would jump at it,rebuild the motor,stretch new leather over the seats,[probably $2,500 if you do the motor assembly and other labour yourself] Then I'd shoot colour onto it,have myself a decent car worth between $17,000-$20,000.

Used to do it all the time, I just traded up over the years.

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You only live once......get it.

Thanks for the replies.

Do not envy me, however; I was merely lucky to win a car a couple of years ago (which I sold), and haven't spend the money. I still live with my parents, and do all their business's IT and help with car repairs/collection/delivery/recovery to allow for that, in addition to my regular job, which is something of a yawner in local government an hour's drive away, largely involving standing at the edge of a busy road in a flourescent yellow jacket and otherwise driving around.


So my life is not not like something out of nine oh two one oh, which is why having a special car like this would mean a lot to me. Additionally, I have a £11,000 'student loan' from when I was at University, a very low interest - a little above inflation - loan given automatically when you go to University, repayable only during the time you are earning money (and only on earnings over £16,000/year). My current interest on this is only £25/month.


So with that out of the way, I can say I'm surprised to hear so many suggesting the "sensible" route. It gives me some confidence that if I choose that route, I will still be happy and won't regret doing so. But I don't know what to do apart from to leave the money gaining a miserable £50/month interest. I don't see the point in that. Then if later in life you buy a house, it still seems to me like you put all your money into your house for the next 40 years then once you've finished paying it off, all you end up with is... well, a house.




err by the way, can someone please explain compound interest? How do I make it "work for me"?


thanks, my most smart and knowledgeable friends!

Russell

__________________
190E's:
2.5-16v 1990 90,000m Astral Silver
2.0E 8v 1986 107,000m Black 2nd owner
http://www.maylane.demon.co.uk/190esmall.jpghttp://www.maylane.demon.co.uk/190esmall2.jpg

Russell,

Nice to see you thinking it out before buying. I wish I'd been that smart 10 years ago, when I was your age.

Put me down as another in the 'buy property' camp. Even if you are still living with your parents now, it would be a smart investment to buy a rental property.

My father pulled most of his money out of the stock market when he retired, and bought a bunch of cheap terraced homes in Middlesborough, somewhat north of where you are. Fully renovated and ready for student housing, he has maybe ₤20k in each one. He has a contract with the local University which essentially makes them available as University housing. He gets slightly lower rents than the going rate, but is guaranteed occupancy, and the tenants are accountable not just to him, but also to the university. So far, he's averaging 20-23% return on each property, annually.

In addition, he bought when the market in that part of the country was at rock bottom. Now, the Teesside area is seeing a nice little urban renaissance, and the properties have certainly doubled in value, if not more.

Do this sort of thing for a few years with your nest egg, and you will be absolutely amazed at how fast it grows.

Well put the money in a bank...you earn interest on the money...simple...well that money becomes principle and earns intrest on it...and so on and so on...you are better off with 10,000 lbs sterling Now in the account becasue the older you get you would have to putt more and mor ein the account just to get to where you would be with just this one deposit......something that may not mean much to you now but by the time you are my age (43) that car will be a distant memory and you will be wishing you had that money in the bank....

Here is a link that better explains it.

http://www.genuinehyip.com/articles/miracle_of_compound.htm

__________________
Proud owner of ....
1971 280SE W108
1979 300SD W116
1983 300D W123
1975 Ironhead Sportster chopper
1987 GMC 3/4 ton 4X4 Diesel
1989 Honda Civic (Heavily modified)
---------------------
Section 609 MVAC Certified
---------------------
"He who fights with monsters might take care lest he thereby become a monster. And if you gaze for long into an abyss, the abyss gazes also into you." - Friedrich Nietzsche

My advice (which may be worthless) is; take advantage of your youth and buy what you want. Might you be making a mistake? Sure. But thats how we learn. What better excuse is there than saying - I was young and foolish.

And trust me.....there will be no "buying what you want" if that girlfriend turns into a wife.

__________________
Pxland

2001 Honda Accord

1995 Jeep Cherokee

1973 MB 280SEL 4.5

You could be hit by a dump truck 1 minute from now, life insurance is for the future, your income is for today.