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Old 01-10-2003, 10:08 AM   #26
cabalisticfire
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WR Blue w/Gold

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Seems like most have returned with answers to the effect of "manage your money carefully and you can own an STI". I agree but I would like to comment on the way several have chosen to manage that money. I'm not a big fan of rushing out and paying off a car. Cars depreciate quickly, we all know this. So, why tie up capitol in a depreciating asset?? I drive an S4 now, put a few thousand down and make a big payment. Why? Because car loan rates are and have been very low for a while now. Even non-subsidised car loans are around 5%, manufacturer promotions have pushed rates to 0% on a lot of cars lately (won't happen on the STI). For the last few years I have taken all of my extra cash and paid off left over bills from college (student loans, etc), all credit cards, then saved for and purchased a house, and now paying extra on my mortgage and saving agressively for retirement. I just don't see the sense in tying up the 20K you saved up in a car, especially if you are young. Buy a house with that money and make a car payment. However, if you've got money laying around and your home and retirement investments are all sorted out, then by all means buy the car outright. Just my 2 cents.
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Old 01-10-2003, 10:13 AM   #27
nitrohuffer
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No can do. I'm paying payments on house, '01 legacy, '02 spec-v. I live in NY so everything is over priced. I'm holding off
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Old 01-10-2003, 01:07 PM   #28
Skylab
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Default rant...

I'm 26, own my house, my car is paid off, and there are no kids or wife to worry about. I also don't have much of a going-out-at-night social life. So that all saves money. My job makes me over $50k a year...so there really is a chance I could get the STi. Practically speaking, the car is no better than my 2.5RS. The wagon is the more practical choice. All my surfboard/snowboard gear fits inside plus friends.


Fun factor, the STi seems like it will be scary fast, and it's certainly not a kids car. However, after driving my buddy's modified wagon thru the open desert roads of Southern California, it's hard not to choose the wagon. Speed is relative. There are 650+ horsepower Vipers on the road, but you can never drive the car to it's limits on the street.

I would imagine most of you wagon owners drive the car on a daily basis. The STi, IMO, is too nice of a car to drive everyday; So it would sit in the garage, covered, most of the time. Then I'd feel bad for not driving the car enough while making payments....ahhhhhh! Decisions, decisions!



Skylab™


*Gone surfing*
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Old 01-10-2003, 01:17 PM   #29
cloakscott
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Bah! Too nice of a car?!

Unless you are in the business of buying old rare cars, not driving them, and reselling them for more $, then there is no such thing as too nice of a car to drive!!!

It's value is deprecating, you are paying for it, so you might as well drive it and have fun!!! That's the point!

Cabalisticfire, I agree with you and was about to post the same until I read your post.

But, DONT BUY IT!!! (cause I want one)
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Old 01-10-2003, 01:41 PM   #30
tolnep
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Quote:
Originally posted by cloakscott
Bah! Too nice of a car?!

Unless you are in the business of buying old rare cars, not driving them, and reselling them for more $, then there is no such thing as too nice of a car to drive!!!

But, DONT BUY IT!!! (cause I want one)
I know a guy. Buys Lambos, Ferraris, Vipers, rare Vettes, Porcshes etc. Drives them. So does his wife. Keeps them for a few months and sells them. Never looses money, sometimes makes a little. Always buys used of course. He had a lambo and his wife complained that it was too hard to shift and she couldn't see out of it so he sold it and bought her a Viper...
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Old 01-10-2003, 02:05 PM   #31
Gerlando
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Quote:
Originally posted by norseone
2 more words.......... NO WIFE! :P
Add... no mortgage too.

Although I have all three wife, mortgage, and son (but no debt!) But I wouldn't trade that for an STi I'll just pick one up a little later then some of you guys.

-Gerlando.
www.wrxtuners.com
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Old 01-10-2003, 02:26 PM   #32
briank
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DINK plus I work near Boston. Its an expensive area to live so your pay reflects that, but car prices remain the same

-BrianK
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Old 01-10-2003, 03:08 PM   #33
Hurrikain
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age-27
annual income(legally claimed)-35K
extra income(under the table)-15K
Its amazing what you can you do when you do "side jobs", though you still end up working about 65 hours a week. 4 hours to replace an accord tranny and charge 500 plus parts is pretty good wages, yes?
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Old 01-10-2003, 03:38 PM   #34
Dot.Com Cowboy
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Default

It really boils down to what you make a month. Here's me, I'm 33, no kids but have a Girl Friend who is starting to eye her ring finger longingly. (We've been together 3 years, so yeah, it's time.)

My only monthly payment now is Rent, $750 a month and tuition which just finishing up. (13 year plan, but hey, I like working and making money.)

Anyway, I'm planning on getting the 2004 WRX and curretnly have a 1994 Mustang 5.0 GT which I own. I'm going to trade that in, put about 6K down and have payments in the $300 dollar range. I'll proablly be financing about 18K after tax, options and licensing.

I make good money and could afford a higher car payment, but I plan on getting an MBA while working and don't want to take out loans.

So it really comes down to what monthly payment can you comfortably afford based on your income. You don't necessary need to put 90% down on the car, if you can afford a reasonable monthly payment and can get a good interest rate car loan.

My 2 cents.
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Old 01-10-2003, 03:54 PM   #35
thrdeye
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Like someone said earlier, if you have 90% to throw down on a wrx, you'll have a small STi payment proveided in comes in at 32K and you get it for 32K. Lets see.....90% on a WRX is $19,000(est.) That leaves you with $13,000 left over plus D&D(I played, BTW) tax&title. Lets figure $3,500 for all that stuff(Did I miss anything?). Total - $16,500.

Payments
60 mo = $275/mo.
48 mo = $343.75/mo
36 mo = $458.33/mo.

So it may or may not be doable for you good luck!

P.S. The highest payment here is still less than my WRX payment, so that hopefully makes you feel better
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Old 01-10-2003, 04:04 PM   #36
JC
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Quote:
Originally posted by Dot.Com Cowboy
Anyway, I'm planning on getting the 2004 WRX and curretnly have a 1994 Mustang 5.0 GT which I own. I'm going to trade that in, put about 6K down and have payments in the $300 dollar range. I'll proablly be financing about 18K after tax, options and licensing.
Unless you mean WRX STi or the Mustang is worth almost nothing it sounds like you are paying too much.

JC
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Old 01-10-2003, 04:09 PM   #37
S.T.Impreza
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Im 19 and since were on or around the topic, what does everyone do for a living? I'm having a little trouble deciding which route I'm going to take...
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Old 01-10-2003, 04:20 PM   #38
JC
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Quote:
Originally posted by S.T.Impreza
Im 19 and since were on or around the topic, what does everyone do for a living? I'm having a little trouble deciding which route I'm going to take...
I'm 19 too, i'm in college though. I'm an engineer.

I'm still waiting for the person who has enough for an STi laying around in their couch cushions. I know there are some rich people on the board.

JC
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Old 01-10-2003, 07:00 PM   #39
rexxer
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I just graduated from Computer Engineering last year. I bought a WRX 6 months later, put $10,000 down and am paying $600/month for 5 years. I have also put about $5,000 into the car already on what I consider necessities (winter tires, summer tires, alarm, remote starter, roof/bike rack, gauges, etc). I started out at a low salary, but am now make a bit more. It is definitely affordable for Americans. I am Canadian so I make a bit less than an American in the actual numbers, but the cars dollar figure was more. My WRX was $35,000 plus all the taxes ($40,000). So the dollar figure (not dollar value) I paid in Canadian is just a bit more than an STi dollar figure (again, not value). It should be affordable. Oh ya, I'm 23, pay rent, bills, have a girlfriend. The STi will be around $50,000 here... that's not affordable at all for me... but I want a house soon.
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Old 01-10-2003, 08:09 PM   #40
jtw0128
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Quote:
Originally posted by JC


I'm 19 too, i'm in college though. I'm an engineer.

I'm still waiting for the person who has enough for an STi laying around in their couch cushions. I know there are some rich people on the board.

JC
19 and in college as an engineer also. I plan on selling my WRX and buying a used STI when/if I can manage to graduate lol.
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Old 01-10-2003, 08:24 PM   #41
CoOlSlY
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I think people have their own priorities!...

You know, I was 12 and was wanting a Mustang... I worked at McDonald's from 15 to 18, I bought a Mazda 323 to continue saving...... I was working days & night almost... McDonald's during the day and Molson brewery during the night... I also opened a store at 19 and continue the savings....

- I don't smoke, I don't drink, I don't take drugs = $$$

My main hobby is playing with cars and playing on my girlfriend So i'm like a baby... In the past 6 years I had two new Eagle Talon Tsi wich I paid the loan and made about 1000$ when I sold them... A Ford Explorer 99 and made some money when I sold it... A Cobra 99 wich I made 2500$ when I sold it... I had a 2002 Trailblazer that I was taking for winter wich I traded for a Corvette 2002 Z06 (I wanted one of the fastest car for fun). Now, I sold everything and i'm planning a year round car instead of having 3 cars/truck... S4 or STi and maybe a cheap truck when going at Home Depot to get some wood! . Also, I have a house to pay, a girlfriend, a dog and a Spec-V for the girlfriend...

I think that it's not really my salary that have done the difference but the way I have behaved from 20 years old to 25 years old... I'm now 28. At 20-25, I was going out less often, spending less money on beer, parties, some expensive dinner and some other things... I left my parent home at 25... Just make the math at 30k$ for 5 years = 150k$. Enough to have put a nice amount on a house, spent a whole bunch in cars...

If you are young, I suggest you to save a bit (NOT UNTIL you are 50 but save for a few years...), it will help you afford a lot of thing that when you'll be older, you probably won't be able to or the wife will not want you to do it!

WoW, what a long post! :|

Sylvain
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Old 01-10-2003, 09:38 PM   #42
ScoobyTodd
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Like everyone else said..priorities.

I'm DINK, college grad, used car and wife has financed the other (02 4Runner). We save for long term, short term, life insurance, savings, etc.

We don't drink, smoke, drugs, nada. We do go out and we travel (especially living overseas). Basically I've owned crappy used/paid off cars my whole life. My college was paid for by scholarship and I have been blessed by getting some second chances and decent pay, especially considering the times.

I'm planning on putting down nearly 20% and financing the rest. We then plan on paying off the 4Runner in 3 years or less, and then working on the STi payments. Rent is taken care of, and we plan on buying a house in 2 years or so.

It also comes down to making wise choices. Buying a new car is one of the worst investments you can make, but this isn't an investment, its me being able to enjoy something I love very much in life. It is only a car, and it is only money..nothing when you're dead. I am investing for retirement, but I really feel that when I'm old enough to retire (if I live long enough) I will not be able to enjoy a lot of the money I saved up.

Oh yeah, I buy cars and keep them. I also don't mod the heck out of my cars b/c that money can go to my financing. With 90% down you would be able to afford the STi, but its your call.

<><
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Old 01-10-2003, 11:51 PM   #43
dowroa
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2016 Subaru WRX STi
2004 Subaru Imprza RallyX

Default Thanks everyone

Thank you everyone for the replies.

Hmm.. I guess the STi just doesnt do it for me, currently. I think it is a great car, but I need to find out more about the STi tranny and engine.

That, and the fact that I don't see anyone [dealers] actually charging MSRP for these cars sorta just doesn't help my opinion. For some reason, and even to me it sounds crazy, I see the Evo as being a more reliable investment. I dont know. Maybe it just the first year of 2.5L turbo and Subaru's tranny problems with the current WRX.

It is more than likely me just spending too much time in the Warranty Claims fourm.

35K is something I dont wanna pay for a car at this point in my life. 25, married, and a good job. 35K is a house downpayment [paying 20%+]. Maybe in the future. 29k for a loaded Evo seems more affordable, but again, the dealers not charging MSRP and the fact that I like perfer Subarus...

I don't know. I want something more than the current WRX offering. Maybe by 2004, the WRX will receive some much needed changes.

Anyway.... thank you everyone for your replies. It gave me some thing to think about and put my money situation in order with the past few days. I COULD *easily [meaning i could afford, but would rather not for some reason] pay for an STi [but not outright]. It would just be *too much* from my budget for me personally. Maybe it is just the life I have lead or the fact that it just seems like *gluttony* to me.

I dont know. If I thought I deserved it, it would be one thing.. I just think it is too much car for me, currently, too.

I guess I just want a car thats right for me, and the STi is a little too over the top. I just can't look the wife in the face and say " your house.. pftt. I want a 35K toy. Screw what you think or want". She would let me have it if I was dead set.

Maybe that's why I can't think about it. Either way, I will be in some form of Subaru within the future. Now, it's just a choice between the 2003 or 2004 WRX... hmmmmm, the choices seem endless..

Thanks everyone. Good luck on your future buying decisions.
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Old 01-11-2003, 08:52 AM   #44
ellisnc
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Did someone say track day

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just FYI, the JUN GD Time Attack car makes 600ps out of a 2.5 liter motor and it uses a bone stock 6MT box.
this gearbox is a tank dude. Personally if I buy one I want to wait to see how things pan out first with the car though.

I think for the most part the people who are going to run out and buy something like this either have a lot of money to do so or aren't married and have someone to answer to. Shoot, there's no way I could spend as much money as I do on cars if I were married, no way...
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