Chebosto

iTrader: (1)

Aiya.

what to do. what to do.

last feb i got in a slight curb-eatting incident that left me depressed about the max, almost to the point of dumpin' all the mods and getting a new car... then i changed my mind... fixed the car up and ended up buyin an SC, getting new clutch/fly, new wing(s) and hood and upgraded my seats yet again..

now heres the new deal.. a year later.. i find my self in the same spot. not really depressed but more of a monetary issue.. as well as questions of feesibility/practicality.

I start work April 21st. My first full time job since being outta school using my EE degree.. and all of a sudden i am in possession a single sheet of paper that says there will be a nice amount of money continuing to go my way for the next so-and-so years.

so. what to do.? Max-out the maxima with 1. LSD 2. Brakes 3. Intercooler and 4. New Rims ...
or .... use that money plus the sale of the car + mods and get me the track edition 350Z.. and then reduce the car payments to like the next two years. only thing is i have to pay the deposit now if i dont want to pay the dealer mark up over MSRP......

besides. i think i'm getting too old to drive a car with a TW.. well... at least it will be ok until an F16 picks up my wing on radar cuz it was so big.hahah

Buying a new car would be like the first step toward true financial independence from my parents.. but yet.. i've spent so much on the max, i dunno if its feesible to have two cars and be single and living in the desert...

i dont have any student loans (thank god) to take care of. After calculating income tax reductions, my 401k.. and so forth.. plus the rent, utilities, incidentals, etc. and i have about $1k extra each month to mess around with, after putting the a good % into the savings bank..

to all you old people out there.. (ha) whats ur take? Did u get a new car with the new job? or do you think i should save up for a house? i heard my parents side ... whats ur take?

--Cheston

Gotrice4

it may be time to move on...my friend is going to be newly employed in the summer with a consulting firm and will be moving from his '99 prelude(maxed out) and will be getting an Mercedes SLK...people mature and your taste mature...it may be time to move on

BottleFedMax

My take on this is just enjoy your life now because this is the time to be selfish and get things that you want or you'll regret it later. Later on in life when you get married,kids and have to pay mortgage thats when you stop being selfish and take care of the family.Bythen you'll probably be strapped for cash and it'll be tough to get the car you've always wanted, instead you'll be driving minivans or worse station wagons w/ wood panel on the sides

RKS

Man, If you don't need the room and just out of school with a good job NOW IS THE TIME.
When I was in your position a looooong time ago I purchased a used NSX. Now that I an married and still have a 95 Max and am about to buy a 2K2 Max today; I am just waiting for the time when I can get an M3 or another NSX.
At least my wife has ok'd those choices as soon as I am done with law school.
Enjoy life just like all the other posters on this thread have suggested. If ya love cars it's time to try something more viseral.

Confused

iTrader: (4)

save some $$ until you are sure the job is secure. Newbie + mediocre economy = unstable.

After a year or, reevaluate based on what you feel... spend or save, only you know the answer to that.

Max2000

I agree with Condused... work for a while, make sure the job is secured first, because with the econ. so bad, you just never know what will happen.

Cumalot

iTrader: (8)

I also agree with Confused. It's great that you landed a nice paying job, but you just started so take it easy for awhile. The economy is pretty bad right now as the others have stated. I mean, come on, you have a SC Maxima right now, what more do you want? Just keep the Max for awhile longer, then after you sure you are financially secure, you can go out and buy a new car to play with.

plrod Black 95 SE

I also agree with confused. Get rid of the wing before you drive the max to work for the first time. You've already outgrown it as you've stated and remember that first impressions are important.

dmontzsta

iTrader: (8)

IMO. Finish off the Max, and then buy a Z. Then you can mod the hell out of the Z. And you will have a back up car at all times. In case something happens. A Max is a great car to keep as a daily driver. I have 230k on mine. And pound it everyday, without any problems(*Knock On Wood*). And your Max is already pimped out, so why go threw all the trouble of taking it apart, and losing money selling the parts. Keep it, mod it more, love it, buy Z, mod it, love em both. Be happy with both. Take your mind off cars, since you will have the best of both worlds. And spend your money on other things.

Yellowbrother

man if i can i would continue living with the old folks...save money...mod the max to the very end...use the max as a daily driver...after working for a year or two...then buy 350z or any other sports car for the weekend...it would be a good idea to have two cars if u mod just in case one or the other needs to be in the shop for works...

ArcticMax

I work in the financial field, and this is my opinion.

You already have an awesome car that is paid for, you have no student loan, probably a small balance on credit card, no major expenses, which allows you $1000 a month to play with.

Well,,

INVEST IT!!!

I understand the $1000 a month is AFTER 401K and personal savings, but why not save some more? It's not like you are driving an Accord or a Camry, you already have a MAXIMA!! SuperCharged!!! I believe you don't need to get another car, esecially since the Max is paid up.

Now is the time to build your future. My clients have testified to me many times that not spending is the ONLY way to build financial wealth in the future. UNLESS, you were born with a silver spoon. But for 99% of the pouplation, not spending is the only way. I mean, a car is the worst investment vehicle out there!

Can you imagine how much money you would accumulate if you invested $1000 a month into a mutual fund? NOW is the time to invest. The market has alread moved up significantly, so don't miss the show.

Put $250 a month into an IRA, and invest the rest in a liquid account.
Then, a few years down the road, you REALLY will have a ****load of money to play with. You can get a really nice car then. M3?

I don't mean to give a lecture, but you have to realize that not that many people have $1000 a month to fool with. If I were you, I would keep on driving the Max,(with a factory spoiler), and save for a few years. After a while, you wil have enough money for a house, and keep in mind how much wedding costs these days!

Well, that's my 2 cents.

BlkStnValyMaxima

iTrader: (1)

I'm gonna have to agree with most of these guys posts. Saving/Investing is probably the best route to take. As much fun as it would be to get a new 350Z it wouldn't be the best move, as ArcticMax said, cars are not a good investment. So, as Confused said, save for a year or two, maybe invest a little, see how the new job is workign out, and then see where you stand financially. That's what I would do if I were in your position.

NYCe MaXiMa

iTrader: (9)

I agree with ArcticMax, he should know a bit more about this then the others since he's in the field....

Maximas loose their value FAST, your 97 GXE, ossuming you have under 60k miles stil, is worth no more then 9-10k. You can sell all your mods and stuff, say you'll get another 4-5 grand from that, but you will waste a lot of time and money and it will be a hassle.
I would not buy a maxima NEW unless I want to keep it for a while. Because it looses around 5 grand the 1st year, 4 grand the 2nd year, 3 for the 3rd and 4th year and around 2-3 from then on until it is worth like 6-7k.

Since you have so many things done to your car, think what you would do to make it the way you would still like it. Be it new rims, getting rid of the wing, changing something...whatever. Spend a little $ to keep yourself happy with the car for a while and there is no reason why you shouldn't do so. Then save $$$, use the fact that you have no loans, you're not married and have a good job to your advantage. While others your age are strapped for $ and are still buying nice cars and putting themselves further into debt... Save some $, decide what you want, enjoy the max while you still have it... Invest the $ and a little later you will have enough $$$ to do whatever you want

NickStam

iTrader: (3)

keep the max and buy some RE!

Dave B

I agree with the financial group in here, keep your car and invest your money. I personally know WAY TOO MANY "young guns" that were sucked into believing they were making a lot of money because they had never seen a paycheck that was for over a $1000 for two weeks (* remember that I live in Kansas City where the average starting salary for an engineer is $35-40K, unlike Cali). 1 or 2 years later they were either laid off or drowning in debt because they believed they were richer they were. Many had to move back home. IMO, there's nothing worse than being 21+, living at home, and spending all you money on your car. That seems to be the way of the import scene though. You read SCC and such and see these 40K and 50K Hondas owned by 18-25 year old guys who don't have real jobs. I can't believe parents actually let their kids do this.

You're young, you've got plenty of time, and already drive a sweet car. Is your Max paid off yet? Take the extra $1000 left over and invest it or buy a house and pay off all debts. A house is a great investment, IMO. I'm 27, I've got a 2 IRAs (his and her), my 401K, a house (with a very nice down payment), I buy about $5000 in stocks every year, and our cars are paid off because I buy 1-2 year old cars. I like to let the first owner take the hit in depreciation. I could be driving a MUCH nicer European car right now, but I'm more focused on making money now and retiring early or possibly starting my own business. I enjoy toying around with my Maxima and spending very little doing it. The trick is not getting sucked into the "I want to be the first guy on the block to have this car" mentality. Never buy the first year model, never.


Dave

emax02

iTrader: (1)

Everything you just said is scaring me BTW, I'm 21..

BrianV

iTrader: (9)

Although I'm younger then you Cheston, I personally think owning a car that is paid for is nice. I would just drive it for about a year more and then thing about going to something a little nicer. In the meantime just save up some cash (invest if you live), and make sure you like what you're doing at work.

Weasel

iTrader: (2)

It's redundant at this point, but everyone's right. You've got a great car that a lot of people would kill for. Very fast and unique. If the wing is getting too loud for you, you can replace it with a stocker or Type-II, but don't get rid of the car. It's paid off and you won't get nearly what you put into it if you part it out and sell it. Settle your living situation, put some money away for a rainy day and then worry about upgrading the car.

BottleFedMax

Ok so far the others have a good point about saving money and/or investing it. Like ArcticMax stated, not everyone has an extra $1,000 a month to spend. But if he sells all the mods and the car, he will have a nice down payment. Assuming the car is $28,000 then if he puts $6,000 down and finance the rest over 5 years the payments will probably be around $400-450 a month. That leaves him with $550-600 left over to invest or just save it. This way you can have a new car and save money at the same time, kinda like have your cake and eat it too.
I just like to have balance in my life. I like to enjoy life and also prepare for the future because you may disagree but all that money you're saving to enjoy life years down the road is all good but ever think about what if you never make it that far? Then what good is all that money? Sure your family can enjoy yur money but wha abbout you? The way I live life is if I died today there would be no regrets or I wish I did this or that.
Just my take on this and I know not everyone will agree but hey thats all about individuality.

Cisco

Great advice! I've forked in alot of $$ into an IRA and doing great, along with alot of stocks that I own. Excellent advice.


GC

Y2KevSE

iTrader: (13)

I agree with Confused and ArticMax.

Save your bling bling Cheston.

BriGuyMax

iTrader: (1)

Cheston,

I'm about to turn 22...and I will be in your EXACT position in about 9 months. I REALLY REALLY want to order a new 350z as soon as I get a job....BUT now I have realized just how good a position I am in. I have no student loans, great credit, my car is completely paid for....and it's still a really nice car for a 21 year old to be driving.....so no matter how much I really want a new car...I'm gonna keep the max and get myself really set financially and THEN in a couple years think about a 350z...hey, who knows....maybe they'll have a turbo version then!

VQracer

Buy the Z! and join me!

dmbmaxima2k2

iTrader: (1)

when i started full time i got my 2k2, i say new car. if i wasn't ready to sell my maxima i would ahve gotten a 350Z or a G35 6-spd when they come out around the same time, but i didn't want to wait a year, i had the same thoughts. wow i can pay this off in a couple months and then convert it to a stick get a s/c, keep the nos for cooling the intercooler and get volks or get a new car that's gonna run 14.3(me) or 14.0(you) and then work from there. i got the new car, i think you should too.

Chebosto

iTrader: (1)

Wow. thanks alot for the advice guys! I really appreciate it.

I already been putting down $2k a year in my ROTH IRA from my previous summer jobs (since 99), and i plan on doing that cuz i can get a tax deduction so thats cool too.

Any of you guys hear of T. Rowe Price Mutual Funds? They were really hot a year or so ago, but i dunno if they're still having a 33% return after 5 years.... But i thought i could use the 401k on that... shoot. i'm 22 and already thinking retirement? ack.

I went and test drove two cars today, the Lexus IS300 5spd, and the BMW 325 5spd.. The IS300 ($32.6k), unfortunately, wasn't as UMPF as i hoped it would be. *sigh*.. there goes my dreams of owning it.. The suspension was a bit floaty but how quick it goes up to redline. You can really hear the VVTi kick in at 4k... The Bimmer (they didnt have the 330i in stock) was WAY better handling and it was much more refined as a car as a whole.. but its just way too expensive for the 330i.. $42k!!! Im going to go test drive the Boxter next week (trying to see what it will compared to the 350Z, since Nissan is going ballsout comparing the Z to the Boxter) and most likely keep sitting on the $$. Neither car (the is or the 325) has the punch as my SC Max, but i didnt really expect them too... but i was disappointed the RWD on the IS wasnt more punchy.

Really appreciate the advice guys... thanks mucho.

Aiye.. i dunno. i know foh sho this job will be here for however many years i want it to.. i'll be working with the 412th Flight Test wing at Edwards AFB, which i will be doing Electronic Warfare stuff... civilian, not enlisting.

hmmm.. well.. i have to move into my new apt and stuff first. so.. we'll see.

--cheston

Finality

Keep the Max. Dont buy anything for a year. Dont spend anything extra on the car.

Honestly I do not know how much you will get trying to sell it. That aside the economy is not in its best health. I know people who where told not to come to work 1 day before their work started. Others who where fired 2 months into the job - their whole division was sacked.

Granted that will probably not happen to you but I'm just saying keep it in mind. Besides saving even more $$$ cant be harmful

Wait till September 2003 before getting your new car. I myself am planning on keeping my Max for AT LEAST another 2 years ie a good year after I graduate.

NYCe MaXiMa

iTrader: (9)

We seem to have a lot of finance minded people here....

Since we are somewhat on this topic..
Can anyone reccomend me a website or something, or maybe talk to me on AIM or post some advice here regarding what direction to head into... I'm 19, I'm in college full time and work 2 part time jobs which really don't make enough $ for me to put away a lot into savings... I'm at a city college which is relatively cheap and thankfully my parents and financial aid help me out with paying for some of it, I can probably attend a much better / more expensive school but I don't want to be stuck paying off loans for the next 5 years as I graduate.. say I have around 7-8 grand saved up to play with, I do not want to be stupid about it and waste it all. I live with my parents, thankfully i don't have that many expenses.. What can I do with it? What would be the best thing? Someone suggested Mutual funds, but I know my father tried it out a little while ago and got burned for a little $ in the long run. I really don't have any clue about this.. If anyone can help me out with some info or links it would be great.

and Cheston,
keep your car, take off the wing get, some new wheels and Nitrous

Chebosto

iTrader: (1)

"keep your car, take off the wing get, some new wheels and Nitrous"


aiya.

more stuff!

im starting to liken the idea of keeping the max. po dunk! eh.

im going to get a cat instead.

name it Baxter

so when at work i can pretend hes calling me and yell

"IT'S BAXTER!"

meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow

NYCe MaXiMa

iTrader: (9)

riiiiiiiiiight.....

put down the pipe man

NickStam

iTrader: (3)

When you're talking about your long term investments, it's not about 'timing the market' , it's 'time in the market.' You still have to be allocated in the correct manner. It also depends on how much risk you're willing to take.

You should send me your money so I can manage it

NYCe MaXiMa

iTrader: (9)

Sure thing..

I rather not take a big risk because I might as well gamble or play the lotto, lol. Just thinking of something stable.. what about like, government bonds? I will put "time in the market", i don't know if it's better to keep stashing away or invest while I can play with this $$$.

BriGuyMax

iTrader: (1)

Oh man Cheston....maybe you SHOULDN'T get a cat

OgreDave

iTrader: (1)

im kinda in yer situation.. cept my job bites azz. Im not so sure about my job security, but im still in school, and they can kiss my rear anyways not like i make a ton.

Anyways.. i wouldnt jump into any debt until youve saved up some money and made sure your job is SECURE. i agree with the other guys about saving, and the ROTH ira.. i was supposed to open one up this year.. but instead i got some cash lyin around ..

I also agree with Dave .. i hate buyin super new cars and takin the hit.

Besides. Lancaster = desert, as you said. You really wanna drive a nice car out there? For who, other than yourself? The maxima is nice nuff for now, honestly after a beater car, my next major move would be a house.

House = appreciate.
Car clothes = mad depreciate, sink like a rock.

Whats funny is:
Jewelery = appreciates (if u get the good stuff)

.edit.
Cheston, honestly, i suggest "The Millionaire Next Door" (book) .. itll give you an idea of what money well managed can do. I read it already, and made some of my friends read it.. it might be worth takin the sacrifice to be rich when you retire.
http://www.amazon.com/exec/obidos/AS...633837-7917415
.edit.

Kenneth

iTrader: (8)

arcticmax, awesome post!

Chebosto

iTrader: (1)

meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow meow

Nismo

iTrader: (18)

pw

Dave B

For some of the younger guys, it is hard for them to get into the habit of saving large amounts of money at an early age. The biggest argument that seems to surface is the "I want to spend my money before I get old". That's a valid argument and I don't think any of us are suggesting that you pinch every penney. The point is putting away money at an early reaps huge benefits after years in the market and such. Every finacial expert will tell you this and they will all tell you to put as much as you can into your 401K and then start to find other money investing outlets (stock, mutual funds, bonds, etc). My father (recently retired, JC Penney head engineer) wasn't able to put money into a 401K until the early 1980s. When he retired (Dec 2001), he retired a millionare. My mother worked for a department store for 20 years and she retired with over $600 and she only was able to utilize the 401K for 15 years. After seeing how much money they accumulated in 20 years, I can only imagine what I could accumulate in 40 years (~$3-4 million, maybe). With what I put away every month, I could be making payments on a nice 40K+ car. That's what makes all this so hard sometimes. It's hard to sit here and read about people buying neww Maximas, 350s, and such when I know I could do the same. I have to take a step back and breath and remember I like where I'm at. I like not having a car payment, having low car insurance, and being able to buy anything else I want like home equipment and improvement, clothes, going out, etc.

I see that you are working with the government either under contract or as a consulting engineer, right? I too do work as a government contractor (Air Force, US Army Corps of Engineers) and the business is VERY up and down. The government can stop a job and dump a program at the drop of a hat. More times than not, they run out of money and have to suspend work for months at a time until they find more money. This is where layoffs occur and usually it's the lower end guys that get the shaft (which has never made sense to me). The government is good to work for in that they pay their bills on time and the jobs are worth big money, with that said it's a big headache.

Before you go and buy a new car, I suggest you do the following (just a suggestion). Since you believe you will have a hefty chunk of change left over each month, make sure you max out your 401K, put away money for stocks and other investments, save money and get out of the apartment ASAP and buy a house/townhome (renting is just throwing away money), and most importantly, put away 6 months of your salary into a money market account just in case you're laid off. Once you've done all this, then consider a new car, if you can afford it.

Goodluck. You'll never want to go back to school after working. Working just pays to well and rarely do you have to take anythign home


Dave