personal "fleet" reconfig possible

[Jerboa113]

Well, I know this is stupid of me financially.. but I'm considering the idea of dividing my daily driver and my performance car into 2 separate entities.

 

I'm sitting on about 3 months till payoff on the LGT and although it hasn't had any problems, I've noticed that since gas has started to fall I've put my foot back into it again and have once again become my own worst enemy. This morning I sat in bumper to bumper traffic for 1:15 and had plenty of time to ponder things.. the difficulty of driving a car that has to wait for spool before it really moves opens large gaps in front of me causing me to get cut off by suvs I cant see around, the brake slamming by other people and the car trying to move forward despite that as some others have mentioned in other threads imo makes the LGT.. or at least my LGT a terrible car for that kind of traffic.. especially combining it with the 18 or so mpg I get in a rock solid 2 way 66 mile commute being bumper to bumper and reading 0mph on the speedometer most of the trip.

 

So the last week or so I had the idea of.. keep the LGT.. and buy something like an 05 vette.. they can be had for around 30k.. finance it (so much for debt free ) let the lgt remain the DD and be paid off..

 

But this poses problems.. obviously the difficulties I'm having in my commute will continue, I'll continue to have to put 93 octane into my car and burn it all away sitting still behind suvs and minivans I cant see around, and when I DO go out on the weekends to cruise around I'll be driving a much larger car that will probably cost a fortune to maintain..

 

Now obviously the vette would be a fun drive.. I woudln't get an auto for a weekend cruiser (even tho I'm not very good at stick.. lack of experience..) and the payments would be a net 0 really for me in my current situation, insurance would go up a good bit.

 

The other option I was considering this morning in the 1:15 of meditation/road rage was to trade the LGT in on something that runs 87 octane, is boring, but is suited for commutes.. like a honda civic or accord. Nothing new..something that could be a $0 trade.. the LGT is rated private party I believe at 18, I dont know what they would give me for it tho as I have not even tried to look... minus payoff that would probablyl put me in an 05 civic EX or something for a DD..

 

I could then go with a vette or an sti or something like that for a fun weekend car and finance it as mentioned earlier.

 

Plan C.. that i also came up with during my 1:15 this morning was to keep the LGT but make it the weekend cruiser (even tho its an auto and will never be "fun" to drive because of it) and then buy something boring in cash after a year or so of saving like a used civic for DD commuting.

 

I really dont want to spend any money, but.. I'm vehicularly unhappy.

 

Thoughts? Suggestions?

[rao]

Get a much larger turbo - that will decrease the lag

[05GT Guru]

Get a sportbike and save gas and have fun and brand new they arent even 13grand

[Jerboa113]

bike isn't an option at all. i'd look like a fat guy with 2 wheels coming out of me.

 

I'd like to stick to 4 wheels.

 

thnx tho, if I were more of a bike person that would certainly be a viable option.

[hutru01]

I say buy yourself a used Honda with cheaper payments for commuting and leave the LGT as your weekend car. There are plenty of options to make the LGT faster if that is what you are looking for. Stage 1 is nothing compared to Stage II and a retune. I recommend trying it out in another LGT before you do anything else.

 

Unless you got the cash flow for another 5 years of payments on a used corvette.

[Jerboa113]

need more input pls.

 

I can pay for the vette for 5 years, I dont really know that I want to tho.. you're talking 400-600 a mo. plus insurance for something you drive once a week or less..

[Guest]

the difficulty of driving a car that has to wait for spool before it really moves opens large gaps in front of me causing me to get cut off by suvs I cant see around, the brake slamming by other people and the car trying to move forward despite that as some others have mentioned in other threads imo makes the LGT.. or at least my LGT a terrible car for that kind of traffic..

 

Learn to drive stick, problem solved.

[Jerboa113]

I dont have an MT LGT.

[Guest]

I dont have an MT LGT.

 

I know. You could.

[Guest heightsgtltd]

MY problem with getting an 05 vette is that the more recent ones are so much better that I'd be pissed about that

 

Considering your commute, I'd look for something that got good MPG.

 

I can throw out another option.

 

New BMW 335d which is arriving soon. 41mpg, faster than the 335i and over 400lb ft TQ

[Jerboa113]

you mean convert it or trade?

 

isnt the 335 going to be in the 40s/50s? I could make it work but I wouldn't be happy about paying that much for such a long time.

 

I LOVE the 335i but BMW.. at least here.. doesn't believe in haggling... I tried to buy a 335i coupe and sedan on 2 separate occasions from 3 different dealers and was stonewalled at $55k sticker before TT&T on all of them so I sort of put the idea out of my head.. but I get a little green every time I see someone driving one.. especially if its alpine white. I love white cars.

[IwannaSportSedan]

Debt or no debt is the real question. Once that is decided, one can go from there.

 

No debt option: Sell legacy for a cheap beater, and a much-used sports car. Like 6k commuter, 12k sports car. Why not a C4 Corvette? SW20 MR2? 300ZX, or other late 80s to late 90s era sports car? Why necessarily a C5? If you hold, pay off the Legacy, and keep paying your payments to your own savings account, while you look around and feel out some options, you may have a bit of cash to add to that transaction, which will get you better examples of either beater or sports car, or both.

 

Some debt option, alternative to what you have mentioned already... Sell Legacy, and vary your beater or sports car price up to your self-imposed, responsible debt limit. A better commuter, or a better sports car, or a slightly better one of both. Basically the same thing as above, except you are paying someone else interest for the immediate use of their money, rather than waiting to build up some money of your own.

 

I have actually considered something similar, but I love my Legacy a bit too much to just sell it right now, and our budget is in a crunch at the moment, so fiscal movement is on hold for a bit for me.

 

I was thinking that between my stage II Legacy, and my 99 PEP Miata, both with ~59k miles... Selling both, and buying two other cars.

 

I was thinking of a cheap-as-hell NA Baja, or a 2.5RS Impreza coupe... something Subie with good AWD and reliability, but not turbo thirst, and lower resale.

 

Then shifting some of the equity left in the Legacy over to the sports car side, along with the value of the Miata, to get a nice used 986 Boxster to replace it, and make the sports car the real performer and more capable of highway travel mileage, rather than having the "practical" car being far faster and thirstier than the sports car. But the Legacy is just so darn nice to drive everyday, and the power is addictive.

 

Porsche maintenance schedule and costs are also a concern. Reliability may be great, but one still needs to perform maintenance.

[Jerboa113]

well, the c4 is ugly as hell.. and I dont have a mullet so I really dont want anything older than a c5.. honestly I'd like to have a 1st year c6.. it looks like the new ones, but costs fistfulls of cash less.

 

IWSS you have to be one of the most analytical and rational people on this forum. I agree with you, the 1st step here is going to be to determine the financial side of this.

 

Heres the basic data that I have: car has under $4k left on the note. I'm on track for a payoff this year. ASAP.. I'm dumping cash into it aggressively w/o dipping into lifestyle expenses.

 

My commute is currently 33 miles 1 way and takes most of the time over an hour. Our office is moving next year and could be moving an additional 10-15 miles from here pushing me to upwards of 96 milse a day in commuting. The area I work in is MUCH too expensive to buy a home in for me so that's not an option (believe me, I've been over that a lot.) We have 87/89/93 octane here so I have to run 93 either way in the LGT. The car is also tuned for cobb stg1 93. I dont think the cars fast enough, I want more fun in my non-bumper2bumper driving, so stage 2 is something I'm simultaneously seriously considering as an option.

 

I have done a spreadsheet analysis and pretty much any car that I've been excited about, even those that require only 87 octane, do not become cost effective when you do the numbers on the cost/mile.. especially combining it with a car note for an additional 5 years.

 

Another concern for me is warranty. I do not like unexpected expenses and this is my ONLY vehicle so if my subaru breaks down.. I'm an hour from a dealer and since its my only transportation I am SOL. not only that, once it does get to the dealer, I'm out of pocket because my warranty is gone in 10k miles on the powertrain. Normal warranty is already history.

 

When it comes down to dollars and cents the rational answer based on the cost/mile is to keep the LGT, pay it off, and deal with it, but there is a practicality issue beyond that in long term reliability, backup transportation for my soon to increase commute, and what the best answer is for my lead foots disease.. if I couldn't have at least 1 car that was at least remotely quick I would probably go insane so that is a priority to me even over not having a car note so long as the note is not excessive.

[05GT Guru]

You would only consider a vette, you could get a nice f-body for alot less, 15k for one with less than 40kmiles same engine and transmission, just have live rear axle. They are just as fast as a c5 vette, i know from experience. I got my 2000T/A for 300 a month with a 500 dollar down payment.

[IwannaSportSedan]

Well, it doesn't sound like you are wedded to your legacy. You aren't looking for ways to justify keeping it. That is fine. Tastes, circumstances, and all sorts of things change.

 

Dumping cash on it is a good plan. If you don't have other debt, I would keep dumping that cash into a side-account, after it is paid off, unless you move on this before that point. After that point you will have some cash to add to the change. Don't forget to budget for additional maintenance, and insurance premiums.

 

The commuting issue is a key circumstance. ~65 miles round trip now, going to nearly 100 miles a day is a significant thing. You also have to consider your time. 50 miles one way is an hour in the car, every day. Whatever car you pick is going to have to be considered a write off, you will probably use every dollar worth of value.

 

The other option is to look at bedroom communities closer your office's projected new location. Make sure that move is fairly certain, though. Wouldn't want to miss that mark. If you commute east to your work, maybe there is a bedroom community further east of there, or north or south, that is closer than 50 miles to your future worksite, even if that location is more than 50 miles from where you live now. IF you are considering moving. Moving will cost you some for the real estate transaction, even to get into a house of the same value somewhere closer, but could also save you some on transportation costs, with less wear and gas for a commuter car, or a cheaper commuter car being able to do the job.

 

So the criteria for the commuter will be:

A: reliable, reliable, reliable. In OR out of warranty. You will probably be driving it past it's warranty anyhow. Unexpected expenses should be financially planned for with monthly set-aside savings, in your emergency fund, just like any other household emergency fund expense, like a water heater failure, or whatever else.

 

B: A pinpoint balance between something that will go the distance (will cost more) and something that won't eat your budget for your other car. A 3-4 year babied lease return car might fit that bill. If the car is in very good shape, and is a reliable model, it should give you a minium of trouble. If it gives you a lot of trouble, you'll probably unload it, and get a different beater, anyway. This car isn't going to be that much of an emotional connection.

 

C: practical. If your other car is a sports car. Make sure this car does whatever else you need a car to do. Carry passengers, project materials, pets, whatever. Or if you don't need any of those things, you can trade that off for efficiency, or lower cost.

 

When you have a price target, and practical target in mind, you can figure what used cars fit that bill. Then try to find a very good deal on one. Don't sacrifice vehicle quality for low price though. It is better to find a nice car at your target, than a rattle trap that might appear to save a few bucks. The savings will evaporate later.

 

Once you have your price target for your primary commuter, that will sufficiently get you to a point where you can calculate how much of a secondary sports car you can afford, based on your debt, or lack of debt projection. If your commuter is less expensive, which it very well could be, than your Legacy's resale, don't forget to count that margin, as well as any savings you might have set aside for this purpose. That will get you part of the way to your goal.

 

The money you have, plus a debt load, if any, that you can comfortably afford, and still fund all of your expenses, and saving plan, will let you know how much sports car you can afford.

 

Keep an eye out for high-mileage C6s, or perhaps even lightly dinged ones that can be fixed for less than the price difference. It is up to you if you want to entertain other cars, Firebird/Camaro, or other performance cars. They will fulfill the "in-a-pinch" role if something happens to your primary vehicle, as well.

 

With that, the criteria is different.

 

A: desireability to YOU. Don't entertain cars you barely like. Don't entertain cars that don't quite fit your taste. Color preference is a bit harder to really narrow, but isn't impossible. This is going to be your emotional car, it is better to get it just right, than to be trading it off for the next one you see after that, that will get expensive.

 

B: Price. It must fit your projection. (and your projection must be accurate and appropriate, don't inflate it with desire. Desire is for the cars, not dollars.) If it causes you financial trouble, you won't feel good about the car, either, and if you can't afford it, it is better to know that before you buy it, than after you buy it, and have to re-sell it, or something.

 

Your Legacy's resale value, and the practical cost of the commuter will define what sports car can fit.

 

Both things don't have to happen at the same time. Although sports cars might have slightly more negotiability in November than in May, perhaps it might be better to wait on the sports car until after the winter. That might be less of a consideration in Georgia, than in Iowa or points north of the snow belt, but the weather in GA may not be that great from november through march, anyway, and it'll get you a few bucks saved up that you won't have to borrow and pay interest on... just an option.

 

If you buy a commuter for less than your legacy, the remainder can clear your note, and go into savings if there is enough left. You can keep hammering the car savings fund the way you are hammering the loan now through the winter, and look for the ideal example of what you want and can afford.

 

But the key is knowing what you need and can afford (including consideration for debt), and making what you want fit that, or planning to make that happen at a future date, if today isn't the day.

 

This is the procedure I used to get my Legacy, and I was really in debt. It took two years, which you don't require (you have ~14k positive value stored in your Legacy, which you seem to be willing to liquidate), but now I have had what I planned for for two years, and I am also MUCH less in debt, and the cars are paid off. A budget crunch would have broken a lot of things before, now is survivable for me, due to some rational planning.

 

It sounds like you have things well in hand, and if any of this long-windedness helps, I am glad. The goal is to find what you want, and afford to own it.

[Jerboa113]

thanks. It certainly helps. I am somewhat attached to the legacy. This is actually only the 3rd car i've owned since I got my license. It makes me sound like a kid but when you think about it.. the LGT is 3 years old now, the 1st one I had for 7 years and the one between them I think was a year or 2.

 

Its hard to explain how I'm attached to the LGT. my last 2 vehicles were trucks/suvs and even tho I liked looking at them, I was easily frustrated by slowness and handling. The LGT is 3 years in and i'm only now starting to feel like its "slow" and "sloppy" in its handling. I love to look at my car (although the water ban has negatively impacted my opinion of it because its ALWAYS dirty now.. a conundrum for me... I hate automated washes and pay n spray washes because the equipment damages the paint, yet I let it go unwashed for months at a time.. neither is good for it.) but I get frustrated by a lot of things.

 

I initially started looking at the civic hybrids of the last gen. The 04s or so... I dont know what those batteries cost when they start to lose a charge (if they do like laptops and cellphones) but the 04s with moderate mileage are running as much as my LGT would be worth and only have the basics like cloth interior etc. I guess I could get something older but Hondas simply dont seem to fall in value.

 

Honestly I'm sort of leaning towards the idea of a stage 2 legacy as a weekend/fun car and a civic of some kind as a commuter.. I dont think once we move I can do this.. 100 miles a day means $50 in gas every 2.5 days, or $400 a month which is a car payment within itself...

 

When I say housing wont work in the area near my work, I mean its a night and day difference. Where I live I was able to purchase a 1996 split foyer, 2 car garage, 1/2 acre private lot with mature trees, 3 bed 2 ba house for under $110k. Where I currently work houses like that one are easily $200k and more and often have lots under 1/3 acre. The new loaction that the office is looking at is not an area that offers houses at all but rather high rise condos so I'm fairly certain unless I get a spontaneous raise that my options for that are somewhat limited. Its kind of funny.. when I got this job I was excited about the income since it was twice what I was making before, but based on the area the office is located, its not a lot.

 

With my current aggressive payoff I'm dumping more than $900 a month into the car. This comes at the sacrifice of savings which is fixed for emergency funds at this time. My spreadsheet'd plan was to pay off the car before 09,t hen begin dumping the full $950-1100 a month from the car into savings until I have about 10k in there or so and then using that for major home renovations or a downpayment on a 2nd vehicle. Be it for fun or a commuter replacement. This plan could till work, but at the time I had not really factored in the projected move. They initially said "within 5 miles of the current office." but what they really mean is a 5 mile radius, not 5 miles by road.

 

I appreciate your insight in this. I am going to continue to follow the leads we've discussed. Certainly I can do the commute of close to 100 miles a day for a short period with the LGT, but I feel like thats going to eat way too much into my income in gas.. especially since gas is of major uncertainty right now.

 

Wheres a Tesla Roadster when you need it?

 

oh, and guru, I do like the Fbody camaro and Firebird. WS6 and camaro SS are 2 things I really like, but I dont know that I could bring myself to buy one. Living here in GA I see a lot of mis-use of the Fbody camaros and its kind of like the bad apple that ruined the bunch.. whenI see a good camaro or firebird all I can think of are those joe dirt looking guys around here with the loud 3" flowmasters on them.

[hutru01]

Honestly I'm sort of leaning towards the idea of a stage 2 legacy as a weekend/fun car and a civic of some kind as a commuter.. I dont think once we move I can do this.. 100 miles a day means $50 in gas every 2.5 days, or $400 a month which is a car payment within itself...

 

Excellent choice. Stage II is a nice upgrade, especially for the amount of money spent. Just be aware that the mod bug will hit you again down the road.

 

I had a Stage II LGT as my last vehicle and that didn't last too long.

[Jerboa113]

didnt last long? Wha happan?

 

So I just did a quick analysis and found something that I have been missing.. some promising things.

 

1st off.. realistically the commute looks like it will be close to 40-42 miles 1 way, so we're looking at 80-84 miles a day (still tho)

 

2nd, I found an area 30 minutes from the new office location that has decent homes in the high 190s to 200s.. which I CAN do.. I just dont want to.

 

This may be the best solution here.. cos tbh.. I hate my neighbors and wouldn't mind ditching my redneck neighborhood.. the only thing is my house is far from market ready so if I move I'm going to have to change all my plans, pay off the LGT, and suck up the extra driving using all of my spare income for market prep. on my house. I can get it ready faster than I had previously planned, it needs a new roof, new garage doors, I'ma lmost done with a bathroom remodel, 1 down 1 to go. I can probablly paint my cabinets rather than replace them, or I can find some extra cabinets on the cheap that match these, they seem to be common in houses built at this time. I may even be able to leave the cabinets as is and simply put some new hardware on them to spruce them up a bit.

 

This may be the most viable option for the short term. The shorter commute will make it possible for me to continue to use my LGT for my commute and perhaps later consider a "fleet reconfig" as the topic says.

 

What do yall think? It will inflate my mortgage a good bit.. I'm paying 900 now on a house that was 107 @ 6.25% for 30. I dont quite know how that adds up.. but thats what the assholes at TB&W seem to think I owe.. I normally would estimate a $200k house with down payment coming from the other house in the 1200s maybe?

[Guest heightsgtltd]

That seems really high for your current rate considering the amount of the loan

 

Was it a variable that got pushed up, or did you not put any money down?

[Guest heightsgtltd]

Hey Iwanna,

 

Everything I have read about the early non S versions of the Boxsters have not been kind. Performance is going to be at or a little slower than a stock LGT.

[hutru01]

didnt last long? Wha happan?

 

I ended up with a Stage III wagon.

[Jerboa113]

oh, wow.. power bug bit ya eh?

 

Heights, no it was fixed, but it was a 0 down. I squeaked in just before the housing market went to shit. I could get my house ready to sell in a year I think, but I may have trouble selling it in this market. Out of 50 houses in my neighborhood we have 4 for sale right now and they are all for less than I paid for mine.. the only good thing is my house is being fixed up where these others are really rough.. and not just around the edges. The house next to me has a hole burned through the deck from the previous owners grill accident.

[05GT Guru]

didnt last long? Wha happan?

 

So I just did a quick analysis and found something that I have been missing.. some promising things.

 

1st off.. realistically the commute looks like it will be close to 40-42 miles 1 way, so we're looking at 80-84 miles a day (still tho)

 

2nd, I found an area 30 minutes from the new office location that has decent homes in the high 190s to 200s.. which I CAN do.. I just dont want to.

 

This may be the best solution here.. cos tbh.. I hate my neighbors and wouldn't mind ditching my redneck neighborhood.. the only thing is my house is far from market ready so if I move I'm going to have to change all my plans, pay off the LGT, and suck up the extra driving using all of my spare income for market prep. on my house. I can get it ready faster than I had previously planned, it needs a new roof, new garage doors, I'ma lmost done with a bathroom remodel, 1 down 1 to go. I can probablly paint my cabinets rather than replace them, or I can find some extra cabinets on the cheap that match these, they seem to be common in houses built at this time. I may even be able to leave the cabinets as is and simply put some new hardware on them to spruce them up a bit.

 

This may be the most viable option for the short term. The shorter commute will make it possible for me to continue to use my LGT for my commute and perhaps later consider a "fleet reconfig" as the topic says.

 

What do yall think? It will inflate my mortgage a good bit.. I'm paying 900 now on a house that was 107 @ 6.25% for 30. I dont quite know how that adds up.. but thats what the assholes at TB&W seem to think I owe.. I normally would estimate a $200k house with down payment coming from the other house in the 1200s maybe?

 

Is the over 900 a month for 107k with escrow included(insurance, taxes and pmi insurance) if there is any?

[Jerboa113]

yea.. final price.. it was a lot lower but they raised it about 3 months ago. I suspect they may be raising it again in the coming months.

 

I'm looking at this further, it looks like the move would save about 20 miles roundtrip to still remain in an affordable area... or.. 1 gallon of gas a day.. so 5 gallons a week or $80 a month in gas.. not a whole lot considering the mortgage will be a lot higher.. but it will be a nicer house HOPEFULLY with less annoying rednecks in the neighborhood.

[IwannaSportSedan]

Hey Iwanna,

 

Everything I have read about the early non S versions of the Boxsters have not been kind. Performance is going to be at or a little slower than a stock LGT.

 

Yeah... but it would be quicker than a Miata.

 

I would love to get a nice 986 Boxster S (I do prefer the S model porsches where available), and a 987 Boxster or S would be fantastic... but each step up is a step up in resale. Someday, I would love a 987-b. Cayman S with direct injection, and maybe PDK... but those aren't even on the showrooms yet.

 

given that I am not really in a fiscal movement mode, and it will probably be some time until I am, maybe 986 Boxster S prices will have descended below $20k. But then Miata prices are going down, too. I always have my eyes up and out, even if I am not in a position, or really desire a move.

 

It is kind of too bad that the Subaru Baja wasn't updated, and rectified into a proper ute vehicle. With 5EAT/VDC, the upcoming diesel boxer, or the 3.6 H6 from Tribeca, and a '09 Forester-like styling re-fresh (or being based on that, rather than Outback) it could have been poised to do really well right now. I am liking the H3T Hummer, as well, but again, too new, and far too expensive until it ages into a good used vehicle. The silver lining to the Baja's market failure, is that if you can find one, they are probably pretty cheap, relatively. I don't really want a big-box SUV, especially to commute, and Baja is pretty versatile for what it is. No more trying to haul a lawn mower in the Legacy's trunk. Once was once too many times.

 

I would love to have the Legacy GT AND a Boxster S... but that is a lot of premium fuel, a lot of synthetic oil, and a lot of imperative maintenance on high-perf cars. non-high perf can get by with cheaper gas, cheaper mineral oil, and with gentler use, are a bit easier on maintenance items like tires and brake pads, etc.

 

The miata is lighter on those things because it gets a lot less mileage than the Legacy, and it weighs a LOT less. Tires and brakes last a good long time, and 144hp doesn't beat up on them so much. 1000 extra pounds and double the horsepower is not so gentle. I like the Miata, but everything Miata does very well, Porsche Boxster does even better, but more expensively.