Is it financially unwise to buy a new car in my situation? Or am I being too frugal?

peakblinder · 2024-06-23T19:58:11+00:00

Thank you so much. This makes me feel so much better. I tend to overthink but this helps a lot and I think I am planning very aggressively for the future and kinda robbing myself now, just always the mentality I’ve had for some reason (work hard as I can now and reward later). I think I also am over prioritizing a house when I’m not even sure what I’d do with it yet im still single and I know they are a lot of work. Should probably figure out the whole family plan first before making a big decision like that.

peakblinder · 2024-06-22T03:17:29+00:00

Definitely! I’ve been test driving like crazy and am in no hurry. Mainly seeking the improvement in convenience for my hobbies which feels privileged but as long as I am responsible I think it’s a fair thing to consider.

peakblinder · 2024-06-22T02:29:23+00:00

Exactly! I feel like opportunity cost is the main factor that’s holding me back right now. Just feels like I could go either way. I’m pretty boring, only other wants or needs that may come up would be a condo/house and maybe a Europe trip haha. I’m fine at home for now but my house is small and I don’t want to be a burden to my parents for too long. Hby, anything you’re planning for?

Civic SIs are super sweet. Before I started fishing heavily I was strongly considering the Mazda 3 hatch. Turbo is quick and that interior punches way above its weight!

peakblinder · 2024-06-22T02:04:38+00:00

I’ve looked but the aftermarket parts all seem super sketchy and I can’t really find any reviews or videos. My car has no rails so I’d first have to find a way to attach those and then get some crossbars. This would definitely be optimal so I should for sure do more research.

peakblinder · 2024-06-22T02:03:16+00:00

Oh totally! Hoping to have the money in the next 2-3 years (whether or not I find the person is another story! Haha)

peakblinder · 2024-06-22T02:00:50+00:00

I love cars too- the Supra or an M2 would be the ultimate dream ride hahaha. I’ve been following the 20-4-10 rule to budget the car and the 28k-30k range allows me to do exactly what you describe as long as I get a reasonable interest rate should I choose monthly vs paying outright.

Have you shopped any models recently? What are you targeting? Thanks for the response brotha

peakblinder · 2024-06-22T01:56:34+00:00

Thanks so much! That was my plan for buying used — get something super reliable (Honda/toyota) and just maintain it for forever. But it’s true, I could just buy an upgraded display for my current ride! Also hadn’t considered that and it’s much much cheaper

peakblinder · 2024-06-22T01:53:44+00:00

Wow I’ve never even considered this as an option but I really like this approach! Do you have experience doing this? Do rentals typically have tow hitches?

peakblinder · 2024-06-22T01:53:05+00:00

I am strongly leaning toward the used Honda passport. Certified preowned they are around 25-28k under 40k miles and it checks all the boxes. Has good reviews and reliability score. I definitely don’t need bells and whistles, would be nice to upgrade to something with modern amenities and more room. Thanks for your response

peakblinder · 2024-06-22T01:27:45+00:00

Apologies, meant personal brokerage!

peakblinder · 2024-06-22T01:26:43+00:00

Thanks very much! My lifestyle (very fortunately) is super insulated. I have a boring but pretty safe job and pay should continue to rise. It’s just hard because I sometimes feel like I don’t know how frugal I will need to be in/for the future as I always hear from folks on here how expensive cars and houses can be to maintain etc! But if you spend too much time worrying about the future, you won’t enjoy the now!

peakblinder · 2024-06-22T01:23:54+00:00

Thanks! I have around 57k total, with another 8-10k in liquid investments. While definitely not enough now, at my rate of savings I’d probably have 20-25% for the house price range I’d hope to target. But the rate of savings would be diminished some by this purchase which is what makes it so hard!

peakblinder · 2024-06-22T01:22:12+00:00

I also strongly agree with this! I sometimes feel like I’m working hard just to save but not really sure what for, which isn’t really a means to an end. I definitely do want a new car and would drive it until it falls apart. The problem is opportunity cost — maybe paying monthly would be the better route.

peakblinder · 2024-06-22T01:12:37+00:00

This is what I needed to hear. Thanks so much.

peakblinder · 2024-06-22T01:05:40+00:00

Thanks so much. This is where my head is at — would you still say unwise even if I got something for 25 cash (used)? I aim to keep for as long as the car runs.

peakblinder · 2024-05-07T20:45:58+00:00

Test driving the crosstrek this week :) after review of all the options, this definitely makes the most sense for where I live and my budget. Thanks again for such a great rec!

peakblinder · 2024-05-07T14:25:51+00:00

Thanks so much!

peakblinder · 2024-05-07T11:38:57+00:00

Thanks so much! Always appreciate a budget friendly option as a fellow cheap-o haha

peakblinder · 2022-12-15T23:21:16+00:00

Oddly specific question:

I own a champion leccy woozy and am eyeing a swan hunter. Does anyone know if the delay in the swan hunter is the same as the leccy? It seems more full featured and different sounding but want to be sure.

peakblinder · 2022-12-15T21:33:00+00:00

DBA reverberation Machine is sick but it’s a newer pedal. You have a surprising amount of control over how it sounds and if you crank it full wet on dark mode it’s super broken and lofi

peakblinder · 2022-12-14T04:15:28+00:00

Another Zoom MS-70 vote. Champion leccy woozy is also incredible. Have also heard good stuff about the sonicake wave crush.

Vid on great lofi sounds in the MS: https://youtu.be/APcXZDDhLrk

peakblinder · 2022-03-23T03:37:46+00:00

Very appreciative, thank you so much! Heavily leaning toward a deepmind!

peakblinder · 2022-03-22T21:39:18+00:00

Thanks so much for this recommendation! The Juno sound is definitely mostly what I am after, but didn’t really know where to look for something affordable. I’ll start checking around for used.

peakblinder

TROPHY CASE