Buying a second car?

Just make sure you are putting away as much as you can--you too may live longer than you thought and retirement sneaks up on you. When it was staring me in the faced I delayed it for 3 years and put nearly all my income for those years into a good company pension and other investments. My wife and I are quite comfortable now, we own everything and pay nothing but utilities and taxes, but who knows what the next 10, 15 or 20 years might hold...

 

If you can afford it, buy it.
life is short, enjoy it as long as your bills are paid and hopefully you're in a 401K already.

I too have a 2nd car with roughly 360Hp, love having both!

 

As another stated, Make Sure you find out what Insurance will be, anything with SVT or Cobra in the name will likely sting. Years back I decided to get a Corvette or Boxster as a fun car, then my wife reminded me we had several kids and suggested something with a back seat. I bought a 2001 Cobra Convertible, I was over 40 with a clean driving record and the insurance on that Cobra was 3 to 4 times what my Insurance Agent quoted me for the Vette or Boxster. Like an idiot I figured it would have to be less due to valuation of the car and did not check it out first, big mistake on my part.

 

What kind of Subaru?

 

401Ks are cruel jokes (Google it), at least only put in what your company matches. If you are young enough real estate--land in particular, gobs and gobs of it--is the best long term investment. We bought 120 acres of at the time "way out of town" but well located pine forest from Georgia Pacific 24 years ago, five years back we sold it to a developer and today there is large retirement complex sitting on it. In the long haul we did OK+++, despite biting out thumbs off during the real estate bust.

Fifty years ago a savvy investor told me "You haven't lost [or made] anything until you sell, hang on until you HAVE to."

 

For many years after the kids were on their own we were a 3 car/2 driver family.

1 small PU for localish duties. Older, fairly reliable, cosmetically semi ok

1 CUV. Newer, highly reliable, very functional, people friendly and hwy friendly

1 2 seat convertible 5 spd, st legal, autox and HPDE prepped bucket of fun. Daily driver for work commute.

After my wife died, still kept all 3.

I'm a function guy. All 3 of what I had were less in value, combined, than any singular new vehicle. And I had a choice, based on the need of the day.

Because usage was spread, maintenance was reasonable. All were paid for, so insurance was my only extra cost. And that was incremental, since one or two new vehicles would have cost very little less

 

I want that Cobra.

In all seriousness - I've had 2 cars since I was 17. It's fun to be the guy with a sweet toy in the garage, but if I didn't have so much sentimental value tied up in my Mustang, I'd sell it tomorrow. I pay insurance and tags on it (both stupid cheap since it's a classic), and drive it about once every 6 months out of obligation more than anything. It could just be where I'm at in life right now, but I would just advise you to think very carefully if you'll actually use and enjoy the toy you're buying. If you will, go for it. It is fun to have something special to drive on nice days or special occasions.

 

I am deeply saddened to learn of your loss--can't say how I would handle that...

 

Thanks. Wasnt easy, but its now been over 10 years. Ive remarried to another wonderful woman who was also widowed.

Healing takes time, but it can happen.

 

I lost my mother to a lingering disease in '87, she told us she wanted my father to re-marry as tribute to her, because if he did not it meant that being married to her had been so bad he never wanted to do it again--my father married a wonderful woman three years later and my brother and I got four new wonderful sisters.

That was one other thing my mum often said; "Life always works out for the best in the long run...but often it's a longer run than you would like it to be."

 

1998 Subaru Impreza 2.5rs coupe
(The blue with gold wheels one)

 

I like having a Mustang as my fun car, something to take my stress out on and drive on nice days.

 

As long as you can afford to own and maintain a second vehicle, go for it. Plus it's a car you've always wanted.

 

I can afford it and pay cash for it right now, im also in my later 20s and single, but I guess I need to evaluate how much it's worth to me to have a second fun car to cruise around in on those warm summer nights with the windows down listening to the exhaust tone that only a v8 can make.. haha.

All great input, sounds like there are quite a few people that have more than one vehicle on here.

 

I'm in the same boat sort of. My 07' has 250k miles on it and clearly is in its golden years. With a 120 mile one way commute I make a few times a week, I'm thinking of picking up a Matrix and making my Tacoma more of a project car

 

Hmm. Reading this thread I was all for you buying the mustang, shit 7K is a solid price, but then I saw you are young and have lots of stuff ahead of you.

Do you own a home, and if not do you intend on owning one in the future? Got any debt, or loans or a safety fund. God, I sound so old and boring, but you being in your late 20s with your future ahead of you , possibly a wife and kids, I would save that dough and prepare for the future.

 

Haha yeah, saving is definitely the smarter play.

 

I always had 2 cars up until 3 years ago. Nice to have the best of both worlds. I used to have GTI's and Wranglers for a few different model changes, I would flip them and move on to another. Now i have the Tacoma and nothing as a side piece unfortunately.I will never let go of this truck, it will be "the truck" in this family for a long time.
I work for a Ford dealer so mustangs are naturally tempting but i do have a severe craving to get a nicely tuned turbo GTI back in my life soon. Such a great drivers car. Once i get over this newborn hump, daddy is getting another toy.

 

Yeah I was surprised how little the insurance is for the 1995 Corvette, even aside from the multi-car discount. Maybe because it's an older model and I have a good record?

 

I had a white 01 in college. Right now I have a 95 cherokee, 93 comanche, 67 beetle, 01 VW GTI, and a 13' taco. I say go for it because thats a good deal.

http://imgur.com/a/W0Ic5

I did notice that your brothers car seems to have an 03-04 front bumper on it.