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Hey there guys, I don’t have a dilemma or a problem but I’d like your opinions and views on my situation I guess. So I want my next car to be a S15 Spec R now the thing is I’ll have a budget of up to £9000 to spend and I am very close to having this amount so I am thinking more and more of this car. The way I see it is that my budget is very healthy to enable me to find the best one I can, the budget is up to £9000 but I don’t want to be spending the entire lot if I can find the perfect example for less then that it would be great. Now is it wise for me to buy this car entirely with my own money that I have? Or should I part fund it through a loan from a bank e.g. The Credit Union?

The mentality I have been brought up with is that if you don’t have the money to purchase it, save up until you do. So I hate the thought of being in debt or having any loans really but then again is it wise for somebody my age to spend £7/8/9,000 on a car with all cash? What would you do? I really love the thought of just buying it all with my money, I guess it would be a sense of pride and knowing that it was all my own hard work which earned me the money to buy it.

Now I know purchasing the car is the easy part, up keeping the car is another challenge on its own. I currently own a ’93 EG6 SiR (1.6 VTEC) and I can afford to up keep it i.e. fuel, tax, insurance etc. But then again a 2.0 turbo’d car is a different machine altogether. In terms of taxing the Civic costs me £220 per year and I do believe the S15 is something similar, so that wouldn’t be the problem as I am used to paying that amount per year. In terms of fuelling costs if I drive sensibly and considerately in the Civic £40 would see me around 200 miles, how would an S15 compare? I know to a certain degree the fuel consumption is affected by driving style but how many miles would an S15 see for £40 worth of fuel? The worry is that I buy it then I cannot afford to fuel the beast, the very same thing happened to my brother 2/3 years ago; he bought a BMW 540 (whatever that is lol I only know Japanese cars!) and he was crippled with the fuel costs and had to sell the car on and I do not want that same thing to happen to me.

My biggest worry/concern is really insurance, I’m currently 22 (turn 23 in February) and I live in Northern Ireland so I get screwed in both aspects; my age and location. For the Civic its just shy of under £1,000 with Quinn Direct and looking at the insurance thread most people pay under £1,500 but then again you guys are alot older than me and live in the mainland where insurance is alot cheaper than here in Northern Ireland because I guess they see this place as Baghdad.

I do have my heart set of an S15, its the only car I see myself in really anything else to me would be a massive disappointment. I guess I love it because firstly its uber JDM, its RWD, turbo’d and its a rare sort of car and really I want this car to show to people who have done me wrong as a big massive F you (vain I know). Myself as a person I do not smoke or drink (due to religious reasons) which see me saving alot of money, I don’t waste my money on stupid things as I am quite thrifty aka tight assed lol and because of my job I see around £400/500 a month. I have all the plans for the car outlined in my head; lowered on some bronze Rota Drifts, Nardi steering wheel, Bride drivers seat, have the car running higher boost (with all the supporting mods i.e. turbo back exhaust, BOV, bleed valve, FMIC etc) and a remap! So I have thought of the car ALOT lol

Sorry for the massive essay but I would love your opinions and thoughts please

--- Shahid
 
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It's good to see you're looking at the big picture - you won't regret your end decision that way. My 2c on your concerns:

1 - Pay cash if you can - the loan interest will outstrip any returns you could get elsewhere. Loans other than a mortgage are a last resort but it sounds like you know this already.

2 - Fuel costs will vary depending on your right foot and also the state of tune. If this is going to be your daily driver; I'd advise against upgrading your fuel system and ECU. Keep power to around 170 - 180rwkw and you'll be happy. The likelihood of breaking parts and causing excessive wear are also reduced.

3 - Insurance will always bite you until you're older - fact of life unfortunately. If you can postpone ownership until you're over 25 - it will help. Who knows - you may have different priorities then?

The s15 is a great car and there's no other car I'd rather have at this stage. If you can afford to run it as a weekend car, it will be more enjoyable. If it will be your daily driver - don't go overboard with modifications as it will get old fast.

Here's some boring yet sensible advice. You're a young guy with good savings - put your money into your first home (I'm assuming you don't own yet), once you've gained some equity (and you'll be earning more by this stage too), then buy some toys. You'll be further ahead in life than if you blow your money on toys now. It will also give you something to look forward to.
 

meddler

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Here's some boring yet sensible advice. You're a young guy with good savings - put your money into your first home (I'm assuming you don't own yet), once you've gained some equity (and you'll be earning more by this stage too), then buy some toys. You'll be further ahead in life than if you blow your money on toys now. It will also give you something to look forward to.
I agree with this statement 100%. I learned this the hard way.
 
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Just don't get to old to do it,responsibility kicks in before you know it and you will get to a point in your life where you will say "I wished I'd done it when I was young and carefree"
 

meddler

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spoken like a true old man! :p
 
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Its a good thing you are thinking it through properly,last thing you want is to buy a car and find all the hiddens costs afterwards.
I would suggest if you have the money then pay it outright,don't see the point in getting into debt Unnecessarily,if you can save 4-500 a month then you wioll have the mods you want soon enough anyways.
Insurance may be the only thing that kills you on this,but if you can get a decent quote then I don't see why you shouldn't go for it.
A tank of fuel costs me 70 and I have seen 290 miles mixed driving car runs 1.1 boost so its not really that bad considering I average about 310 from my type r
Only other thing ou need to consider with theses cars is they need servicing every 6 months or 6k miles and if your not doing it yourself you can expect the 6 month service to cost between 80-120 and the yearly service to be around the 200 mark.
If its the car you want you should get it,I have never loved a car as much as I do my 15 and I don't regret a single day I have had it!!
Good luck and don't rush into it
 
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If you are asking these questions, it means you are not ready, and probably stretching it alittle. Suggest youu save till youu have about 11-12K before getting it. The things that can go wrong is uncountable. But if i am not wrong youu can get one at around 8grand. The economy is not going to be better next year, jobs are unstable. Always better to have a few extra quid in the pocket for the unforeseen. If nothing goes wrong, fantastic. I dont think its a matter of young or old here. Got the car when I am 30. Dont feel I am too old for it.

ADMIN EDIT: Stop using text speak. Read the rules.
 
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LuPix_S15

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I'm sooo glad I got into cars after I got my house and family on the go lol :D


Who know's where I'd be if I did it the other way round? Couple of S15's, one for track one for drift, both highly tuned and... homeless! :wack:



On a serious note - some good advice given by the guys as always... house first if you can and that equity you invest into property will build up so you won't have too much to worry about when you retire. Yes, a long way off but as with anything in life, things you enjoy should be regarded as 'luxury' or 'bonuses' not the norm :thumbs:

...
 
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I agree with this statement 100%. I learned this the hard way.

What happened to you meddler?


Thanks for all the great information and advice guys it is incredibly appreciated. But I think you guys are right maybe I am abit too young and should hold off for abit, I'd have to hold off regardless for insurance purposes anyway I guess :)
 
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meddler

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I just spent way too much money on cars as a young un'. I would now be significantly better off if I invested some money and just stuck to one car that didn't cost me a bomb to insure and/or put fuel into.
 

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Some awesome advice here! My story, I saved from when I was 16 and started working, though my apprentiship I was saving for a ep3 type-r , saved 10k for that, few mods and months later had saved a few more K and at 21 I bought a Evo 8 mr-fq340 cash, handing over a debit card for 14k is still the scariest thing I've done. Was a dream car and was so much fun, but they arnt cars any one without a giant bank balance can own for long! *cough* 1100 quid clutch.... I lost 250 quid selling the Evo and bought a 7K DC5 integra, the change allowed for the 4 skiing hols I did that year! :D I then started searching for a s15.

During all this I didn't really have any outgoings apart from the obvious phone contact, minimal rent to parents, beer and car insurance etc. Currently sat on a couple of k and the s15 and starting to save for a house I'll be 25 in April. Alot of my friends own houses and I had been seen as the "kid" of the group I guess! When I think back to the money I've thrown at cars, snowboarding etc it would make an epic deposit on a house but I don't regret what I've done/experienced.

I think my two cents is basically too live within your means, if owning a car like this would keep you poor(as the Evo did to me) perhaps now isn't the right time for an expensive toy! :)
 
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1 - Pay cash if you can - the loan interest will outstrip any returns you could get elsewhere. Loans other than a mortgage are a last resort but it sounds like you know this already.

...
3 - Insurance will always bite you until you're older - fact of life unfortunately. If you can postpone ownership until you're over 25 - it will help. Who knows - you may have different priorities then?
On the money, if you have for example £9,000 in your bank. And you find a car for £9000. Personally, i'd get a £3/4000 loan, and put the loan money, plus the other 5/6000 out of your pocket onto the car. then, with the remainder of your cash, PAY OFF THE LOAN IMMEDIATELY (check that this is possible with the loan provider first), thus, increasing your credit rating significantly for a) not missing any payments, b) completing a loan period and c) paying off a loan early. trust me, this is a good idea. ive had a loans and credit cards galore, and i'm only 23, and i've got a credit rating much higher than most people my age, as a result i can get a decent mortgage without much of a problem :)

On the insurance, shop around, for some reason its not as expensive as it should be on a Spec-R. mine is £670 fully comp with 3 years NCB, 5 years driving exp, and 3 points for speeding. (with Admiral, all mods declared)

A tank of fuel costs me 70 and I have seen 290 miles mixed driving car runs 1.1 boost so its not really that bad considering I average about 310 from my type r
Only other thing ou need to consider with theses cars is they need servicing every 6 months or 6k miles and if your not doing it yourself you can expect the 6 month service to cost between 80-120 and the yearly service to be around the 200 mark.
peg- where are you getting your fuel from for that price?! 60 litres (typical 'red light to full') of 99 at 133.9p/l works out around £80. If you're getting 99 octane significantly cheaper than this, i need to find this place! lol.

I get up to 390 miles out of a full tank (motorway driving) or around 300miles (playing about at 0.8 bar boost). This all depends on the driver & the car, everything is different..

If you service the car yourself, then you'll save lots of cash too. I learned everything i know about my car through the help of this forum. Servicing a car is pretty easy once you know what you're doing, and have a copy of the service manual. All you really need are replacement fluids/filters, a torch, and a jack :) unless you need new brake pads or such, but then you can upgrade yours at that time if you so wish.. Its an easy car to learn on, so i highly recommend this.

Good luck with the finding!
 
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On the money, if you have for example £9,000 in your bank. And you find a car for £9000. Personally, i'd get a £3/4000 loan, and put the loan money, plus the other 5/6000 out of your pocket onto the car. then, with the remainder of your cash, PAY OFF THE LOAN IMMEDIATELY (check that this is possible with the loan provider first), thus, increasing your credit rating significantly for a) not missing any payments, b) completing a loan period and c) paying off a loan early. trust me, this is a good idea. ive had a loans and credit cards galore, and i'm only 23, and i've got a credit rating much higher than most people my age, as a result i can get a decent mortgage without much of a problem :)

On the insurance, shop around, for some reason its not as expensive as it should be on a Spec-R. mine is £670 fully comp with 3 years NCB, 5 years driving exp, and 3 points for speeding. (with Admiral, all mods declared)



peg- where are you getting your fuel from for that price?! 60 litres (typical 'red light to full') of 99 at 133.9p/l works out around £80. If you're getting 99 octane significantly cheaper than this, i need to find this place! lol.

I get up to 390 miles out of a full tank (motorway driving) or around 300miles (playing about at 0.8 bar boost). This all depends on the driver & the car, everything is different..

If you service the car yourself, then you'll save lots of cash too. I learned everything i know about my car through the help of this forum. Servicing a car is pretty easy once you know what you're doing, and have a copy of the service manual. All you really need are replacement fluids/filters, a torch, and a jack :) unless you need new brake pads or such, but then you can upgrade yours at that time if you so wish.. Its an easy car to learn on, so i highly recommend this.

Good luck with the finding!
The idea of taking a loan then paying it immediately is something that I haven’t considered! I’ll need to look into that :) I’ll try Admiral for an insurance quote, what you pay is very very reasonable to be honest. If I could get that I would lol but Northern Ireland is a bitch for insurance even on UK cars!
Thanks for your input Jase, its much appreciated
 
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sounds just like me! a year ago had a 1.3 starlet turbo, got some money together went on here to this site and it helped me a lot!! the s15 i bought a guy on here knew it gave me good advice!now im so glad that i own it!!:) the best car i ever ownd im only 29 and my insurance 500e im with some broker cant think of the name right now but il take a look in the morning and post it up here tomorrow for ya to try them out if ya like!! also the fuel is grand if you take it easy but if your going to be driving it on then obvously its gona cost i know thats easieer said then done but if you only use it for crusing about its actually grand!!
 
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Slight update

Hey there guys, thought I'd just give an update and rather than start a whole new thread it would be better to comment on this!

So yeah basically I called up my insurance company, Quinn Direct, to query the price change on my policy to another car. Now the car I was looking was a 1994 Honda Civic Couple, which is less powerful than my current Honda. Anyway they told me that my insurance premiums would increase by an extra £9 per month if I wanted that Honda. So as you do I asked the very helpful advisor to check the price on how much a S15 would be, just to humour myself, so he puts in the details "2001 Nissan Silvia S15 Spec R" told him time and time again make sure its the turbo imported model. He comes back to me and says that........






















































































........ there would be NO ADDITIONAL CHARGES PER MONTH if I wanted to insure S15. To my damn amazement they want me to pay more per month for a UK car rather than a more power RWD turbo'd import?!?!?!?!?!?!?!?!?!?! Needless to say that made me a very happy guy, I was abit dubious so what I done was checked the members gallery for some registration plates called back up and time and time again they said the same thing I would incur no extra charges :D




So maybe/hopefully I will join the rest of you guys and become an S15 owner :thumbs:
 
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I bought my S15 in September 2010! Paid half in cash and half on finance, Im due to pay off the finance this coming September and tbh with you I cant bloody wait!

At the time I was trying so hard to save up for the S15 but thought whats the point in saving 200-300 a month when I could just pay finance and have it here and now...it fealt good for a bit but it soon takes its tole! Im paying £408 a month for the car, £300 on finance and £108 on insurance...then theres £35-£40 a week in petrol!

Right now im 23, 24 in July and at the moment theres nothing more I want than my own house, we are currently renting atm and I hope to save a 10-15k deposit in the next 2 years...ive even thought about selling the S15 for a nice wedge but I really dont think I could do it :|

Anyway you need to look 6 months 1 year down the line and think what you'l want and think if its the right choice..they are amazing cars and very fun, they look great, hold value and everytime you see it your glad you baught it!....but they are expensive to run and maintain (not as much as evos lol) and right now I wish id got a daily driver also!

Im just counting the days till I pay the car off and can concentrate on saving for a house, then I can have a nice driveway and garage complete with an S15 :D
 

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good to see you got your sensible head on. It can be pleasently surprising when you check insurance sometimes(not that often though). When I bought my S15 I was 21 & didn't think i'd get a qoute on a spec R so was looking at spec S. Was delighted when I discovered Quinn wanted 1000 pound fully comp for the Spec S. Was even happier when they wanted 800 pound for the Spec R :D. Mine is up for sale at the minute if your interested,

http://forum.s15oc.com/showthread.php?9667-My-S15-Spec-R

Its hard to sell as I love the car but moving to OZ for a bit so looking to sell it to a good home. Its hard to find good S15s over here. They are awesome cars & you won't regret owning one if you can afford it. You do have to remember though, they are powerful cars & things can break so its always good to have a contingency fund just incase.

I've probably spent 30K on buying & modifying my S15 & yes I could have a deposit for a house & mortgage for that money (as the mother likes to remind me) but then i'd be tied down in negative equity & probably wouldn't have joined the sxoc & met so many good friends or had so many good adventures. For me buying the S15 was more than just buying a car, it changed my life in a positive way.

whatever you decide to do good luck with it.
 
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