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Discussion Starter · #1 ·
Hi, right now I’m currently looking at owning my very own Audi R8. I’m looking at an older model 2008-2009 for as of right now that be the only car I can truly afford, I plan on selling my car for 10k and using that as a down payment and a 7+ year loan along with a little bit of my own money so I can pay 20%- 30% down, this car has been my dream car since I’ve started looking at cars so the payment seem worth it to me. I’d be paying about 680-850 with the calculator tool so I plan to spend 1k a month on just owning the car for being 19 I’m super reliable so I’ve been approved for a cheap insurance rate! But at my age is this something I should hold off on, and wait till I’m older which will allow me to buy a more newer model or should I pull the plug and try and get one? Thank you for any suggestions and feed back
 

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Have you looked at what your insurance would be too? Plus, whatever '08 model you'd be getting in your budget likely will have some issues. Maintenance is not cheap on these. I think you should wait, take that money and invest in something that'll allow you to buy a new one in your late 20s.
 

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Bad idea. Wait until your financially stable. Many more important things to work
I’m at 19. Aquire a good job, max out 401k, invest , PAY DOWN DEBT, save for a home etc etc. the list goes on. You do not want to work forever....lol

Secondly, let’s say you can sell your car work and try and pay for the payment. There’s insurance and BASIC MAINTENANCE OF THE CAR WHICH IS NOT cheap. The price of the vehicle may have come down but the cost of repairs and maintenance do not. You probably can’t even get a fidelity warranty for the car which would probably cost you 8-10k at this point if they would even do it and they won’t in an over 10 year old car. So then yiu have AC COMPRESSOR failure and struts failure both very common in these cars and both you are looking at I would say 12k-15 k repair cost. Then with the early models frame crack. Brakes alone might cost you 3500-4500 give it take. It’s not a cheap car to maintain

If I were you I would wait ...... get everything else in order and loop back when you’re in a better position. Good luck.


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Wait - without a doubt.

An R8 is a toy that you buy with disposable income. If you're doing things like analyzing monthly payments, looking at 7+ year loans, etc., it's an indicator that you'd be putting yourself in a bad spot. Regardless of the car payment on a predatory 7+ year loan, you'd need to be prepared for significant repair bills on an exotic that's now 12 - 13 years old.

Loving something and wanting it doesn't make it a good financial decision. You can screw up your entire life by making decisions that put you in a financial hole - whether like this or otherwise. People don't often realize (until it's too late in life) that your financial health equates to freedom, and putting yourself in difficult financial situations limits your choices in life.

At 19 years old, you should be in college and broke. I had NO car at 19 - not for the lack of interest but it made no sense. Instead of looking at the R8, I'd recommend the following:

- Work on your education first. Whether this is college, trade school, apprenticeship, or learning skills somewhere on the job in a career that has a future. At 19 years old, your #1 objective is to build skills that are marketable. Having debt over your head will limit you. DO NOT accumulate any debt. Debt is one of the fastest ways to ruin your life. Read and re-read that last sentence.

- As an aside on the above, you'll notice I mentioned alternatives to college. Again, this comes back to debt. There are plenty of worthless degrees out there with colleges that will gladly put you in debt for a $200k degree in basket weaving. You'll need to be smart about ensuring the investment pays off. But DO invest in your education and skills first - well before a car.

- Start tracking your net worth. This is simply your assets (what you have in the bank, investments, house, etc.) minus your liabilities (loan debt, credit card debt, mortgage debt, etc.). You want that number to rise - assets going up, debt going down. Track it monthly - make it a game. Set goals for yourself regarding where you want it to be 6 months, 12 months, 24 months from now.

- Start investing. One of the most important lessons you can learn NOW while you're young is that most people don't become wealthy by earning a paycheck. Yes, it helps (and it's very important!) to have a good paying job - this provides stability and seed for your investments. However, if you simply earned a nice living and spent it all, you'd never grow your wealth. Investing is required. You need to get your money to make money. There's no silver bullet or "get rich quick" here - anyone, any website, or any WHATEVER that tells you otherwise is lying - run from it. The simplest way to do this is by putting regular monthly deposits into a brokerage, 401k, IRA, or other such vehicle. Pick a simple fund that mirrors the market, and put money in every single month. Don't touch it, just let it grow. Compounding will do the rest. Pick up a good book for beginners and make it your gospel. Learning how to properly invest is a make-it or break-it skill - your long-term financial health and success depends upon it.

Simply put, the R8 (or whatever fancy toy you want) is the thing that comes AFTER you've set yourself up nicely in life. I would have loved a car like the R8 at 19 - but it would have been a disaster on so many levels.
 

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It's going to be tough picking up chicks in the R8 and then having to explain why your mom won't let you stay out past 11PM.
 

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If you gotta ask, you probably already know the answer. Conversely, life is short and tomorrow isn’t promised to any of us. If you want the car bad enough you will find a way to make it work. Best of luck 👍
 

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To quote Ez,
DO NOT accumulate any debt. Debt is one of the fastest ways to ruin your life. Read and re-read that last sentence.
 

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Wait - without a doubt.

An R8 is a toy that you buy with disposable income. If you're doing things like analyzing monthly payments, looking at 7+ year loans, etc., it's an indicator that you'd be putting yourself in a bad spot. Regardless of the car payment on a predatory 7+ year loan, you'd need to be prepared for significant repair bills on an exotic that's now 12 - 13 years old.

Loving something and wanting it doesn't make it a good financial decision. You can screw up your entire life by making decisions that put you in a financial hole - whether like this or otherwise. People don't often realize (until it's too late in life) that your financial health equates to freedom, and putting yourself in difficult financial situations limits your choices in life.

At 19 years old, you should be in college and broke. I had NO car at 19 - not for the lack of interest but it made no sense. Instead of looking at the R8, I'd recommend the following:

- Work on your education first. Whether this is college, trade school, apprenticeship, or learning skills somewhere on the job in a career that has a future. At 19 years old, your #1 objective is to build skills that are marketable. Having debt over your head will limit you. DO NOT accumulate any debt. Debt is one of the fastest ways to ruin your life. Read and re-read that last sentence.

- As an aside on the above, you'll notice I mentioned alternatives to college. Again, this comes back to debt. There are plenty of worthless degrees out there with colleges that will gladly put you in debt for a $200k degree in basket weaving. You'll need to be smart about ensuring the investment pays off. But DO invest in your education and skills first - well before a car.

- Start tracking your net worth. This is simply your assets (what you have in the bank, investments, house, etc.) minus your liabilities (loan debt, credit card debt, mortgage debt, etc.). You want that number to rise - assets going up, debt going down. Track it monthly - make it a game. Set goals for yourself regarding where you want it to be 6 months, 12 months, 24 months from now.

- Start investing. One of the most important lessons you can learn NOW while you're young is that most people don't become wealthy by earning a paycheck. Yes, it helps (and it's very important!) to have a good paying job - this provides stability and seed for your investments. However, if you simply earned a nice living and spent it all, you'd never grow your wealth. Investing is required. You need to get your money to make money. There's no silver bullet or "get rich quick" here - anyone, any website, or any WHATEVER that tells you otherwise is lying - run from it. The simplest way to do this is by putting regular monthly deposits into a brokerage, 401k, IRA, or other such vehicle. Pick a simple fund that mirrors the market, and put money in every single month. Don't touch it, just let it grow. Compounding will do the rest. Pick up a good book for beginners and make it your gospel. Learning how to properly invest is a make-it or break-it skill - your long-term financial health and success depends upon it.

Simply put, the R8 (or whatever fancy toy you want) is the thing that comes AFTER you've set yourself up nicely in life. I would have loved a car like the R8 at 19 - but it would have been a disaster on so many levels.
Excellent advice for a youngster Ez, unfortunately it's difficult to put an old head on young shoulders, took me 20 years to realise my Father was right!
 

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The force is strong with this one! Coldstoc, that almighty pull of desire is something all of us have faced in our lives I suspect. Lord knows its hit me so many times. My first taste......a 246 Dino GT back in 1983 when I found one for 24K (!). It was achingly close for me to afford but just out of my reach. I waited and am so glad I did. I probably could have swung the purchase but the car would have had to sit outside in the weather, would have had the cheapest insurance available (if I could have gotten insurance at all) and maintaining the car would have put me n the poor house fast.

As others have noted, probably best to hold off. Yes, it hurts but good things come to those who wait. Your day will come....I (we) promise if you really want something that bad you will find your way to obtain it. Good Luck young man.
 

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Hi, right now I’m currently looking at owning my very own Audi R8. I’m looking at an older model 2008-2009 for as of right now that be the only car I can truly afford, I plan on selling my car for 10k and using that as a down payment and a 7+ year loan along with a little bit of my own money so I can pay 20%- 30% down, this car has been my dream car since I’ve started looking at cars so the payment seem worth it to me. I’d be paying about 680-850 with the calculator tool so I plan to spend 1k a month on just owning the car for being 19 I’m super reliable so I’ve been approved for a cheap insurance rate! But at my age is this something I should hold off on, and wait till I’m older which will allow me to buy a more newer model or should I pull the plug and try and get one? Thank you for any suggestions and feed back
The advice every one gave about investment is good. They made GREAT points. However, I feel like you are also looking for some inspiration and a vote of confidence. My reply to your post is also about INVESTMENT - a different kind.

Life is different for every one. Some have it easy and some have to work hard for it. As long as you are NOT going to burden any one with any of the decisions you make, I’d say go for it. Life is short, even for a 19-year old. That’s a fact. Tomorrow is not promised.

At least, you have a plan. You thought about down payment already and have calculated your monthly and all. That tells me you know what you can and cannot afford.

This next part only applies to certain people and surely applies to me, and is what made it easier for me to decide on pulling the trigger. MAINTENANCE and REPAIRS - this will cost you. I am a mechanic so I do my own upgrades and repairs. Also, I never buy any cars with the intention of resale. So, I don’t care about having it serviced at dealers or specialists. If wrenching is (or will be) your passion, that’s another plus for me to say “go for it”. There’s YouTube and there’s the forum. There’s plenty of DIY posts on here and a lot of friendly/helpful members.

We all want different things. Some buy expensive watches and consider them as investment. Some love to travel, and that could cost a lot too. To some, they just like that there’s a lot of money in their account and do nothing. Some love to get married…a lot. YOU DO YOU.

INVEST IN YOURSELF. INVEST IN WHAT WILL MAKE YOU HAPPY.

Going back to some points others have made - education, skills, etc. Make sure you don’t do anything to jeopardize what you currently have in order to make the payments. Don’t ruin your credit. Improve on your skills that will help bring additional income. Work hard, work with passion. Yes, you do not want to work forever…unless you love what you do.

I’m 40 now and have acquired and paid off my dream cars…all from wrenching. No regrets.

Good luck and I hope you find the right R8 for you. I know how it felt to just dream. Making it a reality is worth it.

Here’s a pic for inspiration:

261659
 

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@jeevie Nice stable!!! Love that photo.

To the 19 year old considering the purchase: I bought a 2014 car with 8k miles on it in 2018. This month I had to buy new tires for $1,300 and service for $2,500. Two months ago I had a blown tire and had to replace rears for about $800 plus a tow truck for $300. A few months before that 3 of my Mag Rides went out as did my AC compressor. The quoted cost for those at dealership was around $13,000. I did some break work a year ago for around $1,000.

Every year we have a guy or two on this forum whose engine blows up and it seems like those cost about $55k to get replaced at the dealer and I'd guess at least half that for a guy who wrenches. It seems like every single AC Compressor goes out with relative frequency. And then I see some crashed cars where even a fender bender can seriously decrease value of the car.


I'm not a guy who can wrench and these guys on the forum doing their own work seem like professionals to me and my guess is most of them have some formal training or at least a few decades of wrenching on cars.

Can you seriously afford to be hit with random repair and maintenance bills of $1,000 to $15,000 for the next several years? How are you going to get that money together if and when those bills hit? If you can, then go for it!
 

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Very sound advice advice from the gents above.

As an important caveat - I will say though after seeing my fair share of young people in their twenties die of leukaemia and other cancers, I see the other side also. Life is short indeed.
 

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It's going to be tough picking up chicks in the R8 and then having to explain why your mom won't let you stay out past 11PM.
:ROFLMAO::ROFLMAO:
 
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Discussion Starter · #16 ·
@jeevie Nice stable!!! Love that photo.

To the 19 year old considering the purchase: I bought a 2014 car with 8k miles on it in 2018. This month I had to buy new tires for $1,300 and service for $2,500. Two months ago I had a blown tire and had to replace rears for about $800 plus a tow truck for $300. A few months before that 3 of my Mag Rides went out as did my AC compressor. The quoted cost for those at dealership was around $13,000. I did some break work a year ago for around $1,000.

Every year we have a guy or two on this forum whose engine blows up and it seems like those cost about $55k to get replaced at the dealer and I'd guess at least half that for a guy who wrenches. It seems like every single AC Compressor goes out with relative frequency. And then I see some crashed cars where even a fender bender can seriously decrease value of the car.


I'm not a guy who can wrench and these guys on the forum doing their own work seem like professionals to me and my guess is most of them have some formal training or at least a few decades of wrenching on cars.

Can you seriously afford to be hit with random repair and maintenance bills of $1,000 to $15,000 for the next several years? How are you going to get that money together if and when those bills hit? If you can, then go for it!
Can you seriously afford to be hit with random repair and maintenance bills of $1,000 to $15,000 for the next several years? How are you going to get that money together if and when those bills hit? If you c

I really appreciate your input, looking at it through the costs of just maintaining the car to be operational is going to be a pain and a half I’m good with a 3-5k but with a 15k+ that’ll take me some time to make with the payment of the car. Once again thank you I really appreciate it!!!!
 

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Discussion Starter · #17 ·
The advice every one gave about investment is good. They made GREAT points. However, I feel like you are also looking for some inspiration and a vote of confidence. My reply to your post is also about INVESTMENT - a different kind.

Life is different for every one. Some have it easy and some have to work hard for it. As long as you are NOT going to burden any one with any of the decisions you make, I’d say go for it. Life is short, even for a 19-year old. That’s a fact. Tomorrow is not promised.

At least, you have a plan. You thought about down payment already and have calculated your monthly and all. That tells me you know what you can and cannot afford.

This next part only applies to certain people and surely applies to me, and is what made it easier for me to decide on pulling the trigger. MAINTENANCE and REPAIRS - this will cost you. I am a mechanic so I do my own upgrades and repairs. Also, I never buy any cars with the intention of resale. So, I don’t care about having it serviced at dealers or specialists. If wrenching is (or will be) your passion, that’s another plus for me to say “go for it”. There’s YouTube and there’s the forum. There’s plenty of DIY posts on here and a lot of friendly/helpful members.

We all want different things. Some buy expensive watches and consider them as investment. Some love to travel, and that could cost a lot too. To some, they just like that there’s a lot of money in their account and do nothing. Some love to get married…a lot. YOU DO YOU.

INVEST IN YOURSELF. INVEST IN WHAT WILL MAKE YOU HAPPY.

Going back to some points others have made - education, skills, etc. Make sure you don’t do anything to jeopardize what you currently have in order to make the payments. Don’t ruin your credit. Improve on your skills that will help bring additional income. Work hard, work with passion. Yes, you do not want to work forever…unless you love what you do.

I’m 40 now and have acquired and paid off my dream cars…all from wrenching. No regrets.

Good luck and I hope you find the right R8 for you. I know how it felt to just dream. Making it a reality is worth it.

Here’s a pic for inspiration:

View attachment 261659
I gratefully appreciate your feed back, I’ve looked at the prices and figured out that 55k-65k is going to be the best I can do to still be able to pay for room and board, and the car loan with the insurance. I think your right I’m looking for motivation, I’m going into real estate and I want something to strive for while I’m at it weather it be having it and maintaining or waiting for it. with this car it’s always been my dream to own but investing in lets say a house does seem like the way better option. thank you for your advice I highly appreciate it!!!!
 

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Discussion Starter · #18 ·
The force is strong with this one! Coldstoc, that almighty pull of desire is something all of us have faced in our lives I suspect. Lord knows its hit me so many times. My first taste......a 246 Dino GT back in 1983 when I found one for 24K (!). It was achingly close for me to afford but just out of my reach. I waited and am so glad I did. I probably could have swung the purchase but the car would have had to sit outside in the weather, would have had the cheapest insurance available (if I could have gotten insurance at all) and maintaining the car would have put me n the poor house fast.

As others have noted, probably best to hold off. Yes, it hurts but good things come to those who wait. Your day will come....I (we) promise if you really want something that bad you will find your way to obtain it. Good Luck young man.
hahahaha yeah the temptation is pulling on my heart string hard, I feel as I’d be in the place you described if I do go for it, I’m glad it worked out better for you in the long run!!! I’m determined to get this car I know one day I will own one without a doubt in my mind! Thank you I really appreciate your feed back!!!
 

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Discussion Starter · #19 ·
I did exactly what you're considering when I was your age (car payment plus insurance was 1550 a month), and it put in a terrible position that I didn't get out of for a very long time. Wait.
Thank you I’m sorry you had to wait to get out of that I’m happy you got out of that situation, after reading a lot of what other people had to say I think that’s going to be the best move. Thank you for your response it means a lot to me!!!
 

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I gratefully appreciate your feed back, I’ve looked at the prices and figured out that 55k-65k is going to be the best I can do to still be able to pay for room and board, and the car loan with the insurance. I think your right I’m looking for motivation, I’m going into real estate and I want something to strive for while I’m at it weather it be having it and maintaining or waiting for it. with this car it’s always been my dream to own but investing in lets say a house does seem like the way better option. thank you for your advice I highly appreciate it!!!!
You’re very welcome. For me, it’s best to hear different opinions and see things from different angles. Best of luck with everything and I wish that you get your dream R8 when the time comes.
 
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