Is this car right for me?
 

I can't decide if this car is right for me right now in my life.

About me:
-I'm 25 yrs old.
-I make approx $50K/ year (CDN).
-I don't know how to drive standard
-I plan on using this car all year round (which includes Canadian winters)
-I've never bought a car before, so this would be my first.
-My knowledge of cars is VERY limited.
-I have some monthy debts, but nothing over the top. If I was to get this car, it would definitely start to push on my finances -- but that is to be expected buying any new car.


What do you guys think?
Is the 8 too much to handle as a first car?

Well I am 21, I don't make nearly as much as you, it is my first car and I didn't know hot to drive a standard very good... Look at where I am now. :D


If you do decide to get this car, you will need winter tires... There is no ifs/and/or buts about it. It comes with summer tires and it will not work in canadian winters. The reason I tell you this is because there have been owners complaining about that.

if you make 50k cdn a year, and the 8 costs about 40k cdn (im not sure, correct me if im wrong) then this car would definatley push the financial envelope. The transmission on this car is very easy to use. i got many of my shifts almost perfect the first time i drove one. If you put snow tires on the car (another around $500 expense for a halfway descent set) then the car does really well in the snow, especially with DSC. Several people on this forum purchased the 8 as their first car, so your not the first. If your rotary knowledge is very limited, then read up on this site alot before you buy it. I dont even own an 8 yet, but when ever i go to a dealership i know much more than the salesman does. its a very empowering feeling.

my .02

I don't know what the gas prices are like in Calgary, but she is thirsty and consumes more oil than a normal piston engine.

Admiral8

You only live once, you cant take your hard earned money with you , when you settle down get married / divorced your wife will spend your money so enjoy yourself live for now and buy your car .

Tommorow is promised to no one .

cheers
michael

Thanks for your opinions everyone -- keep 'em coming please.

noRotorMotor - Why does the car consume more oil than a normal piston engine engine? How much more are we talking about?

Admiral- I believe he means gas.

As everyone stated, read up on the rotary engine and things to look out for or take care of when owning the car. Purchase some winter tires...you WILL need them. Of course if it is stretching you for money but you know you can handle it....save up a nice amount for downpayment and another nice amount for "what if's".

I wish I could take my own advice.

If you make 50k a year and the car is 40k, I really don't think the car is right for you.

What is the rule? No more than 25% of your income? Or was that for a house?

LOL! If I went by that rule, I'd be driving a Yugo around right now. :D

Something close to that, I thought it was somethiing like 17% for monthly payment though. Don't remember exactly.

you shouldnt be paying more than 20% of your gross monthly income on a car. so get those payments down.

for a house i heard you shouldnt buy one that is worth more than 5 times your current salary. (assuming 30 year mortgage)

Budgets - only applicable if your making payments. If you got the cash, you can pay fifty times what you make!

General guidelines for monthly payments are to collect your finances into five major categories. "Housing" includes mortgage or rent, utilities, insurance, taxes, and home maintenance. In total, should be limited to 35% of your monthly take home. "Transportation" includes car payments, auto insurance, tag/license cost, maintance, gas, and parking. In total, Transportation should be limited to 20% of your montly take home.

One thing to remember, when your making that payment each month, it sure helps to love what your spending your hard earned money on!

Budgets - only applicable if your making payments. If you got the cash, you can pay fifty times what you make!

General guidelines for monthly payments are to collect your finances into five major categories. "Housing" includes mortgage or rent, utilities, insurance, taxes, and home maintenance. In total, should be limited to 35% of your monthly take home. "Transportation" includes car payments, auto insurance, tag/license cost, maintance, gas, and parking. In total, Transportation should be limited to 20% of your montly take home.

One thing to remember, when your making that payment each month, it sure helps to love what your spending your hard earned money on!

Thanks for the replies. Great info to consider.