looking buy rx8
 

Hi there, im 17 and am looking to buy a 2004 rx8 as my first car. I obviously don't have the chunk of cash to get one and no bank would give me a loan given my age and the fact that i have no credit history. any suggestions/ or maybe someone is willing to loan me money :D: I did my research and know how to maintain the car and know about all of the problems some people are having, and i know this is the car i want and am going to get. any help is greatly appreciated. Thanks in advance!

As a first car you should get a beater for a year or two until you are a better driver. Also if you cannot afford the car as-is then how exactly are you going to afford the high insurance rate every month? What are you going to do when the engine blows and suddenly you need to drop $4,000+ to get a new one?

It just sounds like it is not the right time for you to get this car.

well im not to worried about insurance costs, my current car (1991 mazda 626) is $644 for 6 months, and i got a quote for an rx-8 and it was only $721 for 6 months. thats not a big difference and my dad would be willing to pay it. as for me being a good driver, everyone says i drive like ive been driving for years (take corners like a champ lol). And for the engine blowing, there is a 100,000mile warranty, and if i go over 100,000 when it happens that i will just get a new one. maintance and gas wise i will be spending the same on my 626 as i would be on an rx8, but i would much rather drive the 8.

I think you're in over your head.
Its nice to dream big, but you need to understand what you're wanting to get yourself into.

First off, the early 2004 cars are little by little having their 100k mile warranties expire every day this year, as its been 8 years already since a lot of them were originally sold.

So, you would have to do a whole lot of research on the car you are thinking about buying to find out if it even still has any warranty on it, and how long that would be for (typically, just a matter of months, at the most).

Then, if you find a car with a bit of warranty time left on it, you have to get all of the previous owners maintenance history, in case you have to submit the car for an engine replacement. You typically won't get this from most dealers, unless you are really, really lucky. If you're even luckier, you would be able to find a car that was always serviced at a Mazda dealer.

If you do find one of these magical cars, with warranty, and a good deal of service history, you should then take it to a Mazda dealer for an engine compression test before you even think of buying it. If it fails, then the current owner asks them to replace it, and then you buy it from him. If the dealer refuses to replace the engine for the current owner, WALK AWAY.

So, there's a lot you have to think about.

Your 17.
I'm going to let you in on a secret in life:

You aren't going to get everything you want in life.
Some of the things that you do get in life are going to be way harder than your 17 year old mind can truly comprehend.

Think of this car as just the beginning of life's many lessons.

Good luck if you can pull it off, though.

BC.

It is not just a 100k mile warranty, it is a 8 year / 100k mile warranty. They will ask you for oil change receipts going a good distance back, if you do not have the paperwork then chances are they will deny you. A few people on this board have been extremely lucky and bought a used 8 with no oil change history and managed to get the engine covered by warranty but they were a lucky few.

The insurance rate depends what your talking about, at 17 I am guessing that $700 every 6 months is going to be liability only, which would suck to have if something bad happens. Personally I would only have full coverage on a car I was paying this much money for. If you do somehow manage to find a loan for the car generally there is a stipulation that you must have full coverage insurance on the car anyway.

You claimed the '8 would be your first car, and then contradicted yourself and said you have a Mazda 626. Anyways, listen to Bladecutter. His post explains it all. The '8 is an amazing car but there will always be more used ones when you get a little older. Waiting isn't always a bad thing.

Lol. I'm not sure if anyone or anybody will loan you money over here. Anyway, you should save up for a down payment, and try to start getting credit, so that, you could get a loan from a bank. Good luck and keep wishing that someday, you will own an rx8.