BigMikeATL

I am considering buying an inexpensive RX-8 to drive on weekends and basically have fun with, driving my Acura TL the rest of the time.

Problem is that I still have 2 years of payments on the TL and don't want to part with such a reliable car. What I am thinking about doing is refinancing the TL for 3-4 years and purchasing an inexpensive 2004 RX-8 and financing it for 4 years.

Doing the math, it means my monthly car payment is the same as it is now, just covering a longer period of time.

I am wondering if an inexpensive 04 is worth the risk. I can't afford the extra costs associated with an 06 or later. I can find 04's with reasonable mileage (< 50k) for under $15000, with many in the $10000-12000 range.

Considering the situation, do you think purchasing an 04 is an acceptable risk? or are the potential issues with a first-run production more trouble than they're worth?

dozer

iTrader: (3)

first of all, if youre EVEN thinking its a risk, dont buy it. why RISK anything...

ive owned my 04 for 2 years now, and the car runs GREAT, ive had all the recalls done, and all the maintenance done on time...remember this is a sports car and not a honda, you gotta pay to play

Transam kid 01

iTrader: (1)

I think you are in a situation where you are trying to spend money you don't have. You are saying that you have 2 years left of payments on the TL, and to spend 10k on something else would only make things more difficult for you. If you can afford to drop 10k worth of payments and still live comfortably, then sure you could do it, but why? If you want something sporty, trade in your TL for a 335 or something, or even a TL-S. My dad drives a stick 08 -S and it's tons of fun, and reasonably practical. So instead of wasting payments on 2 cars, why not spend it on one car that has the best of both words, without the risk of funding repairs.

BigMikeATL

It's not that I don't have the money. If I refinance the TL, total my monthly payments for two cars would be the same as what I pay now. The only difference is that the payments would cover 4 years instead of 2.

The main issue is that Atlanta is has so much stop and go traffic that a manual isn't ideal as a daily driver. I'm also not experienced driving a manual, though I have done it a few times.

dozer

iTrader: (3)

dont buy an AT, if you get an rx8 you want the full potential, MTs the only way to go

alfy28

i own a 04 for 5 years now, no problem. others will tell you to stay away from them (still havent figured why )/shrug. i thinks its because a person from this board posted to stay away from them, so every one else follows the same rule, . with out giving a good reason.

any how if you can afford , then i would say go ahead. just make sure the car is up to date .

also buy a MT since its going to be a fun car. y ou will get use to it, doesnt take much to drive one.

BigMikeATL

Cool.

I'm looking at several different ones but am leaning towards Lightning Yellow. One of them has the black and yellow leather seats and OEM chrome wheels, too.

alfy28

nice, i always liked that color. as for hte chrome wheels, i always think they look ghetto (no offense to ppl who own Chrome OEM wheels). but good luck on your purchase

bakerjeffrey

i have an 04 and love it. it is expensive to service but if u know anything about mechanics and treat the car like it wants...u will have little problems. if you baby the car, like never reving it over 5g than u r in 4 some maintance. beat it like a red headed step child and enjoy.

jmc23200

I think the whole "dont buy an 04" is based on two things. One, it is the first RX8 model and technically would have the most issues(compared to later revisions) and two, 4 speed automatic(if you go that route).

Honestly, I would not buy an RX8 if I was you. Finish paying off the TL and wait to get an RX8. After you have paid off the TL and have a little bit of money to put down, then look into buying an RX8. Hell, there might even be a RX9 out by then. Or maybe a model with the 16x rotary. If you wait to buy an 8, you will be able to get a better model. Or, buy one now and get stuck with a 2004 auto RX that will blow your mind in the twisties but wil leave you goin WTF in the torque department.

As for expensive to servie, check out the DIY section and you will cut costs dramatically.

BigMikeATL

Thanks for the feedback... keep it coming!

Right now I'm looking at a Yellow 04 GT with Nav and an extended warranty through 2012 or 2013. It's got 40k miles and has been pampered with Royal Purple. The guy is asking $16k but I could probably talk him down a bit.

I wasn't even considering a new car but decided to take one for a test drive a few weeks back. I've had the RX-8 bug ever since. It was just so fun to drive.

Also, why is torque such a big deal? I found the acceleration of the RX-8 to be quite acceptable. Sure, I won't won drag races, but that's not what I'm interested in anyway.

jmc23200

No big problem with torque except most people are used to higher torque. Its usually the turn off for most people who dont end up buying the 8.

GotBass

A few things:

Pay off the other car first. No reason for 2 car payments. I would not reccomend fiancing 5 year old car for another 4 years. The car is going to start needing more expensive servicing the older it gets.

As far as 2004s go, I have not had any major problems with the car. I think that part of the reason that there may seem to be more 2004 problems is that there were many more 04s built than any other model year.

That being said. The RX-8 works as an only car. The back seats work for kids and the occasional adult. I drive it every day in Chicago. Snow tires on the 8 work better than the stock tires on the TL in snow.

alfy28

because kids like to race Redlight to redlight

BigMikeATL

Yeah, but I could care less about that.

I found that the acceleration is fine.

BigMikeATL

All valid points, though the car would be under warranty while I am paying for it. The only other service intervals that would be expensive are 60k/90k/120l but those costs added to the amount of the vehicle are still far less than buying new.

While the RX-8 would work as an only car, a manual is NOT what you want as a daily driver in Atlanta's stop-and-go traffic. That's why I was thinking it would be fun to drive on weekends.

REsuperD

i didn't know you can refinance car loans. sounds like a bad deal. personally, i would always pay off whatever i owe on other car(s) before buying another for toying around with. but then again, i'm the kind of guy who probably would never get a loan to buy a car. i'm real cheap

BigMikeATL

Yes, but it only saves you money if you have something other than a Simple Interest Loan. Most auto loans are simple interest, so the only advantage of refinancing is to reduce your monthly payment. Because you continue to pay interest longer, it ends up costing a little more in the end.

The Drunk IT Guy

Dude, I'd pay off the TL first.. You might be able to handle the payments but why pay all of that extra interest. Plus what if you need BIG money for some unforeseen event and you've got these two ridiculous sports cars but no expendable income.

Live within your means man..

BigMikeATL

I hear ya. The adult in me says one thing and the kid in me says another.

I already have a nice rainy day fund with 6-9 months of living expenses.

Regardless, I can afford the two payments. My thinking is this: if I really like driving the RX on a daily basis, I am already into the black on my TL and can sell it at a small profit. If I get tired of the RX, I can sell it and break even or take a small loss.

BTW - I did the math on refinancing my TL and a change from the current 2 years to 4 years costs me $2000 in interest. That comes out to $46.67/month for 48 months. I can save that much by not eating out 5 days per month.

Needless to say, I'm conflicted.

05TouringRX8

It's your money. So I'm not going to get into the financial end of it. If you can handle both payments and don't mind paying more interest, that's up to you. If you can find a clean 04 in your price range, go for it. I found a super clean 05 with low miles for around what you are looking as far as price. Spend a few bucks and run the VINs for whatever you look at to make sure they check out. I found a lot of trash histories on the 8's I looked it when the price was too good to be true.

SLWASFK

Considering your situation, I don't think you should be living outside your means. If you have to have two car payments for one person, you shouldn't have the second car. If you can afford to buy the 8 outright (let's face it, most people can't) then I'd say that wouldn't be bad, but to have to jump through hoops and end up with two car payments, I'd say stay away, wait the two years, then finance a nice 07 or 08, which will be in the 13-15k range at that point.

dozer

iTrader: (3)

this guy REALLY wants an 8...fcket DU ET NAO!

dmp

No. Nope. Buy a 05 or newer.

dozer

iTrader: (3)

04s are good too