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11-04-2024, 11:22 AM
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#176 | | RS has made me the bitter person i am today!
Join Date: Nov 2010 Location: /
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Originally Posted by RevYouUp  His problem is not his mortgage. He’d be paying more in rent if he were to move out, his part of the mortgage is 33% of the $600K. I’m 100% with Gerbs on this, you need to work on your financial literacy like ASAP don’t just shrug it off. I’ll break down your expenses with guesstimates:
Gross income - $60K, after taxes net about $3.5K a month give or take a couple hundred.
Expenses:
- mortgage $2k (being generous, based JDMdteams it should be $1.5K for your portion)
- Car payment $500-$600
- Car insurance $200
- Gas $300
Just the total of the above expenses is about $3K. That leaves you with $500 a month for food and everything else. You’re spending 33% of your net income a month on car expenses, not including maintenance and car mods. That’s not it my man. It doesn’t matter if you think you deserve it or not. You deserve to take transit at that point let alone a $40K car. The car owns you at this point and you don’t own the car. | A $1,500 rent / mortgage is a major privilege to pay in this economy. You should be able to sustain this by late 20's with no cash flow issues, otherwise you're an adult child lol. Adult child's should not have Type R's. Quote:
Originally Posted by Tapioca Track racing is a complete bro hobby as well. He would be better off spending a couple of thousand dollars to refresh the wardrobe and buy some fitness equipment, like a power tower and some adjustable dumbells. He'll feel better about himself and maybe attract the attention of others too. | Also don't cheap out on health and personal hygiene/self care. How you present yourself and how others perceive you can help ya land a job / side hustle / business ops that can increase your income.
If ya look like a overweight bum, nobody will respect you for business or looking for higher paying jobs.
go figure out ur skincare --> then diet --> then start gymming --. as u lose weight u buy better fitting cheap clothes at uniqlo
Find cheap hobbies + travels so you can grow your character as you're grinding away. You also don't wanna be someone that's only work + cars.
__________________
2022 Velo N
2005 S2000
2007 CSX Type-S [Sold]
2002 RSX-S [T-Boned]
Last edited by Gerbs; 11-04-2024 at 11:39 AM.
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11-04-2024, 11:26 AM
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#177 | | RS has made me the bitter person i am today!
Join Date: Nov 2010 Location: /
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Originally Posted by JDMDreams Sell the type r and spend like $10000 on a leaf, you will save the $200 a month in gas. Just plug in at home. Throw the remaining $25000 on the s&p. | pay off consumer debt and secure that 8-24% gain first! Quote:
Originally Posted by AstulzerRZD I think the car brings BIC_BAWS a ton of identity/value in his social life even outside of track.
That balance has to shift to something else (gym? golf? dating? dance? running?) to feel ok with giving it up/going back to 9G Civic.
FWIW even on 280k salary, I thought my paid off 30k S2k was too expensive of a car for daily & never did track it because of risk.
BUT, it also wasn't a major part of my identity/social life so it was easy to give up. | I have quarterly regrets spending $40K for the Velo N, my copium is that it costs $10-15K to own it for 6 years, so I'm paying $2.5k/yr for pre-paid maintenance. First car I owned that had depreciation though.
__________________
2022 Velo N
2005 S2000
2007 CSX Type-S [Sold]
2002 RSX-S [T-Boned]
Last edited by Gerbs; 11-04-2024 at 11:36 AM.
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11-04-2024, 11:32 AM
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#178 | | RS Veteran
Join Date: Dec 2001 Location: GTA
Posts: 29,959
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Just for clarification, are BIC_BAWS and Gerbs friends in real life? 
__________________ Quote:
Originally Posted by BIC_BAWS I literally do not plan on buying another vehicle in my lifetime, assuming it doesn't get written off. | | |
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11-04-2024, 11:39 AM
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#179 | | RS has made me the bitter person i am today!
Join Date: Apr 2014 Location: Van
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I think having $90 in your bank account isn't horrible, if every other penny is going into investments, all your other expenses are paid on credit to milk cash back and points and you pay off everything in full monthly to not get charged 20%+ interest. The occasional dip into loc is fine as long as you have the assets to back it up/ income. Property tax bill, your car explodes etc.
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11-04-2024, 11:42 AM
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#180 | | RS has made me the bitter person i am today!
Join Date: Nov 2010 Location: /
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| Quote:
Originally Posted by JDMDreams I think having $90 in your bank account isn't horrible, if every other penny is going into investments, all your other expenses are paid on credit to milk cash back and points and you pay off everything in full monthly to not get charged 20%+ interest. The occasional dip into loc is fine as long as you have the assets to back it up/ income. Property tax bill, your car explodes etc. | I think it's safe to assume
- $0 TFSA + possibly blown up contribution limit
- $0 RRSP + possibly withdrawn contribution limit
- $0 FHSA
and probably consumer debt CC + LOC + HELOC.
Any extra cash paying off consumer debt will yield 6-24%, even car loan which i assume should be 8%+ on a used car.
__________________
2022 Velo N
2005 S2000
2007 CSX Type-S [Sold]
2002 RSX-S [T-Boned]
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11-04-2024, 12:20 PM
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#181 | | Rs has made me the man i am today!
Join Date: Mar 2011 Location: Vancouver
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Maybe what Bic needs to do is Turo the CTR and the rest of us can rent it from him on weekends.
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Current: 2019 Acura RDX
Gone: 2007 Acura TSX, 2008 Mazda 3 GT, 2003 Mazda Miata LS, 2008 Mazda Miata GT PRHT, 2003 Mazda Protege 5
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11-04-2024, 12:22 PM
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#182 | | RS Veteran
Join Date: Dec 2001 Location: GTA
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BRB Let me take it to the track 
__________________ Quote:
Originally Posted by BIC_BAWS I literally do not plan on buying another vehicle in my lifetime, assuming it doesn't get written off. | | |
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11-04-2024, 12:34 PM
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#183 | | RS has made me the bitter person i am today!
Join Date: Apr 2014 Location: Van
Posts: 4,807
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Actually I don't mind turo a type r. Never tried turo before. Obviously I will have to see if it has VTEC or turbo.
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11-04-2024, 12:35 PM
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#184 | | Rs has made me the woman i am today!
Join Date: Jan 2012 Location: PENIS
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how many months left on the CTR?
__________________ There's a phallic symbol infront of my car Quote: |
MG1: in fact, a new term needs to make its way into the American dictionary. Trump............ he's such a "Trump" = ultimate insult. Like, "yray, you're such a trump."
| bcrdukes yray fucked bcrdukes up the nose
dapperfied yraisis
dapperfied yray so waisis
FastAnna you literally talk out your ass
FastAnna i really cant
FastAnna yray i cant stand you
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11-04-2024, 01:08 PM
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#185 | | private modder
Join Date: Feb 2002 Location: North Shore
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Originally Posted by Razor Ramon HG I think at this point, his mind is made up and he's not going to sell the CTR despite everyone's advice. If he rather have $90 in his chequings and keep the vehicle, you know he's too far gone.
At this point it's better that we focus on his other expenses to get a better picture of where all his money is going and what can be cut.
| I dunno, I don't see the point. I think it's absurd that someone is under financial duress but also insisting they continue doing track days because it's fun.
Boo hoo, woe is me, I'm in so much debt, and I have $90 in my bank account. Oh sorry brb, on my way to the track!
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11-04-2024, 01:21 PM
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#186 | | RS has made me the bitter person i am today!
Join Date: Apr 2014 Location: Van
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I mean there is Richmond speedway for free
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11-04-2024, 01:36 PM
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#187 | | Rs has made me the woman i am today!
Join Date: Apr 2013 Location: revscene
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Did y'all miss the part where I said I'm committed to not tracking in 2025 lol
And the part where I said I'm not going to say I'm going to do smt and not do it. So if you don't see commitments here it's not that considering it, I just haven't decided yet.
Sent from my SM-G781W using Tapatalk
__________________
|| 18 FK8 | R-18692 | Rallye Red | 6 MT ||
|| SOLD 97 E36 M3 Sedan | Arctic Silver | 5MT ||
|| RIP 02 E46 330ci | Schwartz Black II | 5MT | M-Tech II | Black Cube | Shadowline | Stoff Laser/Anthrazit ||
|| RIP 02 E46 M3 | Carbon Black | 6MT ||
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11-04-2024, 01:45 PM
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#188 | | My dinner reheated before my turbo spooled
Join Date: Mar 2011 Location: NYC
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| Quote:
Originally Posted by bcrdukes Just for clarification, are BIC_BAWS and Gerbs friends in real life? | yes + i went for brunch with Gerbs a cpl weeks ago in ny / did s2k parts run with BIC
__________________
2002 AP1 S2000 "Mustard"
2024 F150 Lightning
Past:
- '09 Ducati Monster 696 "Ketchup"
- '20 Dodge Charger R/T 5.7
- '20 Ford Mustang GT Convertible
- '04 Acura TL 6MT
- 🛴 Lime Scooter 🛴
- '16 Golf 1.8T
- '09 MB E63 AMG
- '06 Honda Accord V6[/SIZE]
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11-04-2024, 01:46 PM
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#189 | | RS has made me the bitter person i am today!
Join Date: Apr 2014 Location: Van
Posts: 4,807
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Is the type r that good? I mean lots of JDM type r, turbo AWD cars are available for under $20000. Get a ep3 for $6000 and you still have VTEC, nc Miata?
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11-04-2024, 01:54 PM
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#190 | | My dinner reheated before my turbo spooled
Join Date: Mar 2011 Location: NYC
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For a 30k out of the box trackable car with good dynamics, safety, practicality and reliability ; what other options are there?
Low key with the way beater prices are, you're only a repair or two away from a 10k EP3 or 20k NC
__________________
2002 AP1 S2000 "Mustard"
2024 F150 Lightning
Past:
- '09 Ducati Monster 696 "Ketchup"
- '20 Dodge Charger R/T 5.7
- '20 Ford Mustang GT Convertible
- '04 Acura TL 6MT
- 🛴 Lime Scooter 🛴
- '16 Golf 1.8T
- '09 MB E63 AMG
- '06 Honda Accord V6[/SIZE]
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11-04-2024, 02:05 PM
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#191 | | RS.net, helping ugly ppl have sex since 2001
Join Date: Oct 2016 Location: Ricemond
Posts: 9,486
Thanked 11,056 Times in 3,977 Posts
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| Quote:
Originally Posted by Gerbs
If ya look like an overweight bum, nobody will respect you for business or looking for higher paying jobs.
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Leave his CTR alone !!! He’s almost paid it off. 17k to go, it’s not that bad
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11-04-2024, 02:19 PM
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#192 | | I subscribe to the Fight Club ONLY
Join Date: Aug 2007 Location: Paradise, BC
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Thanked 6,798 Times in 2,752 Posts
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| Quote:
Originally Posted by Gerbs Find cheap hobbies + travels so you can grow your character as you're grinding away. You also don't wanna be someone that's only work + cars. |
I'll go back to my corner to hide and cry now lol~  | 
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11-04-2024, 02:19 PM
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#193 | | RS has made me the bitter person i am today!
Join Date: Nov 2010 Location: /
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Originally Posted by Eff-1 I dunno, I don't see the point. I think it's absurd that someone is under financial duress but also insisting they continue doing track days because it's fun.
Boo hoo, woe is me, I'm in so much debt, and I have $90 in my bank account. Oh sorry brb, on my way to the track! | I'm under duress but my $35 big way hot pot is the only way I'll eat a meal today  Quote:
Originally Posted by AstulzerRZD For a 30k out of the box trackable car with good dynamics, safety, practicality and reliability ; what other options are there?
Low key with the way beater prices are, you're only a repair or two away from a 10k EP3 or 20k NC | There's definitely a gamble with the beater. In most cases you end up with a $10K Beater + $10K repair and maintenance over 4 years or you buy a overpriced beater for $12-15K.
__________________
2022 Velo N
2005 S2000
2007 CSX Type-S [Sold]
2002 RSX-S [T-Boned]
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11-04-2024, 02:20 PM
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#194 | | I have named my kids VIC and VLS
Join Date: Oct 2001
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I dunno, the fat, bad skinned white guys seem to dominate management
All the in shape, yuppy types who want to talk about hiking and cycling all day long seem to be consistently be on the bottom end of the pay scale 
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Dank memes cant melt steel beams
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11-04-2024, 03:47 PM
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#195 | | I told him no, what y'all do?
Join Date: Aug 2006 Location: Vancouver
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Originally Posted by Gerbs my $35 big way hot pot is the only way I'll eat a meal today | pack up the soup broth and that's another meal if you heat up again witih plain noodles  Quote:
Originally Posted by Gerbs There's definitely a gamble with the beater. In most cases you end up with a $10K Beater + $10K repair and maintenance over 4 years or you buy a overpriced beater for $12-15K. | or you buy a overpriced beater for $12-15K AND still have $10k repair and maintenance 
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11-04-2024, 04:04 PM
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#196 | | OMGWTFBBQ is a common word I say everyday
Join Date: Jul 2006 Location: Vancouver
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Originally Posted by AstulzerRZD For a 30k out of the box trackable car with good dynamics, safety, practicality and reliability ; what other options are there?
Low key with the way beater prices are, you're only a repair or two away from a 10k EP3 or 20k NC | Is it really 30k nowadays? I thought they were still touching 40k for a FK8.
__________________ Quote:
Originally Posted by PeanutButter Damn, not only is yours veiny AF, yours is thick AF too. Yours is twice as thick as mine.. That looks like a 2" or maybe even 3"? | | |
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11-04-2024, 04:11 PM
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#197 | | RS has made me the bitter person i am today!
Join Date: Apr 2014 Location: Van
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11-04-2024, 04:44 PM
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#198 | | RS Veteran
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What kind of beater requires $10K in maintenance? A V8-powered BMW M5? What kind of crack are you guys snorting?
__________________ Quote:
Originally Posted by BIC_BAWS I literally do not plan on buying another vehicle in my lifetime, assuming it doesn't get written off. | | |
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11-04-2024, 04:47 PM
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#199 | | RS has made me the bitter person i am today!
Join Date: Nov 2010 Location: /
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Originally Posted by GLOW pack up the soup broth and that's another meal if you heat up again witih plain noodles | bud, im so poor I ask for extra soup + takeout more sauce
Got veggies + han kook meat at home ready to deploy for meal 2 Quote:
Originally Posted by roastpuff Is it really 30k nowadays? I thought they were still touching 40k for a FK8. | Maybe 20-30,000 KM, 5-7 year old car, no warranty Quote:
Originally Posted by bcrdukes What kind of beater requires $10K in maintenance? A V8-powered BMW M5? What kind of crack are you guys snorting? | - 330ci, my boy spent 30-40k over 4 years
__________________
2022 Velo N
2005 S2000
2007 CSX Type-S [Sold]
2002 RSX-S [T-Boned]
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11-04-2024, 04:54 PM
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#200 | | RS Veteran
Join Date: Dec 2001 Location: GTA
Posts: 29,959
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Dear Lord. I forgot he had that.
A 330ci is a terrible categorization of a beater. A terrible financial nightmare and abyss is more like it.
A beater is like a 250,000KM+ Toyota Yaris, Mazda 2, Civic with manual windows, and a Sentra with blood stains on the driver seat. You can take those to the track and still have fun.
__________________ Quote:
Originally Posted by BIC_BAWS I literally do not plan on buying another vehicle in my lifetime, assuming it doesn't get written off. | | |
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