Time for an upgrade...

[z1ggy]

I wanted your guys opinion on two different scenarios that I plan on taking this year or possibly late next year. I currently drive a 2007 NA subie impreza and am looking for something more fun to drive. Here's what I was thinking:

1) Keep my current car (has some dents and dings, about 65k on it) and buy a '00 or '01 mustang cobra SVT as a summer only car, for around $15k. Keep this set up for 2-4 years, sell both cars at the same time for whatever I am into at that point in time.

2) Sell current impreza for the next gen of wrx or Focus ST.

Option one would cost me roughly $15k upfront, and then after 2-4 years I could likely sell that for (hopefully) $13k plus sell my impreza for maybe $7k and thenprobably have a new budget of $30k for a new car, leaving me at spending $10k over all during the 4 years.

Option two, I could sell my impreza this year for roughly $10k, and buy an ST/wrx for $28k, putting me at spending $18k over the next 5 yrs (not counting interest and maint.)

What would you all do? Keep in mind I live in the north east and there's roughly a 3% personal property tax on all vehicles.

Thank you for your time.

 

[boomhower]

If you were looking at an 03/04 Cobra I'd almost lean that way. But considering your location the WRX makes a ton of sense and would be my pick given the options. I hate wagons but the 5 door WRX is a good looking machine.

 

[xSkyDrAx]

Is the personal property tax a yearly thing and if so how do they determine the value of it? Is depreciation involved on their calculations each year?

 

[z1ggy]

Is the personal property tax a yearly thing and if so how do they determine the value of it? Is depreciation involved on their calculations each year?

Yearly and it depends by county. Generally speaking, the higher your property tax, the lower your personal property tax is. Yes every year they calculate a new value of the property. When you buy or sell a piece of property they use either the sell/buy price or the current market value (which ever is higher).

And while it obviously does snow here, the past two years have only had snow on the ground for about 4-4.5 months. I rode my motorcycle this year in November and I was highly tempted to ride in December during a warmer week.

I am drawn to the cobra because I have always wanted one since I was 16 and I feel like I could actually even save some money and still get the WRX in the long run. My current car runs fine and has no issues. I am worried I might not be able to sell it for what I want because of the rather large scrape/ding on my right side bumper.

 

[thedarkwolf]

Why not a used STI/WRX?
Having two cars is nice but is also a PITA and you can only drive one at a time. My miata sits in the garage most of the time because it is setup for autox and is nowhere near as comfortable to drive on a daily basis and gets mediocre gas mileage. It would be nice to have just one do everything car like a WRX wagon.

 

[NutBucket]

Funny, I love having two cars. Super convenient since you don't have to compromise necessarily. Plus, if one goes down for repairs there's no rush to fix it. Just drive the other one.

For about 5 months my wife and I had 4 cars. Except for the space issue it was definitely convenient.

 

[z1ggy]

Why not a used STI/WRX?
Having two cars is nice but is also a PITA and you can only drive one at a time. My miata sits in the garage most of the time because it is setup for autox and is nowhere near as comfortable to drive on a daily basis and gets mediocre gas mileage. It would be nice to have just one do everything car like a WRX wagon.

Because I don't like the older gen WRX. The only one I'd really be interested in is the '11+. I think anything under an 07 looks ugly, and 07-10's are probably pretty beat on by now. I know I toss my car around a bit, and it's not even the turbo version. I am pretty skeptical of buying a used "hot hatch/boy racer".

On the other hand, I'd have no problems buying an '01 cobra with like 35k on it, because you know it was only driven in the summer, and probably treated better than the guys gf or wife.

 

[T2urtle]

Because I don't like the older gen WRX. The only one I'd really be interested in is the '11+. I think anything under an 07 looks ugly, and 07-10's are probably pretty beat on by now. I know I toss my car around a bit, and it's not even the turbo version. I am pretty skeptical of buying a used "hot hatch/boy racer".

On the other hand, I'd have no problems buying an '01 cobra with like 35k on it, because you know it was only driven in the summer, and probably treated better than the guys gf or wife.

I dont know about that, if that cobra was a one owner MAYBE but 2-3 owners odds are it was not. You dont buy a cobra to baby it, kinda like you dont buy a cobra and keep it stock. Almost always put a pulley and other mods right off the bat.

But i will agree on the used WRX idea, most either beat it, broken it, slapped cheap replacement parts and sell it. While i love the WRX and the idea of used cars, i dont know if i can do WRX used. But then again for the right price i'm always game.

back to the topic, i would go with #1. I've been looking into the idea of having two cars. Its seems to have a good amount of plus side.

 

[power_hour]

Lightly used WRX or STi. Go one car. Used stang in the winter is a bit of a waste.

 

[z1ggy]

Lightly used WRX or STi. Go one car. Used stang in the winter is a bit of a waste.

I obviously won't use it in the winter. I would use my current impreza for winter driving...

The whole point is that I get a car in good shape, it's something I would really love to say I owned, and it almost seems like it'd cost the same in the long run as if I got a newer wrx now.

As I stated before, I don't like the looks of the older gen WRX. If I did get one, I'd probably just get an 07 then because I think those look merely, okay.

 

[AMCRambler]

Or spend the same money and get a low mileage LS2 gto with a six speed instead of a flogged and tired Cobra.

http://www.gtoforum.com/f5/2005-cgm-47k-m6-15000-a-39515/

 

[power_hour]

I obviously won't use it in the winter. I would use my current impreza for winter driving...

The whole point is that I get a car in good shape, it's something I would really love to say I owned, and it almost seems like it'd cost the same in the long run as if I got a newer wrx now.

As I stated before, I don't like the looks of the older gen WRX. If I did get one, I'd probably just get an 07 then because I think those look merely, okay.

No I was referring to an '11 WRX/STi if you can find one. Year round capability, mod ready. I think they are great cars. In fact next year thats exactly what I am looking for if I can get my shit together.

 

[z1ggy]

Or spend the same money and get a low mileage LS2 gto with a six speed instead of a flogged and tired Cobra.

http://www.gtoforum.com/f5/2005-cgm-47k-m6-15000-a-39515/

I have def. thought about it. Same with a CTS-V.

 

[z1ggy]

No I was referring to an '11 WRX/STi if you can find one. Year round capability, mod ready. I think they are great cars. In fact next year thats exactly what I am looking for if I can get my shit together.

Yes, it's true. Meh, maybe I could trade or sell my current impreza for an 06/07 STi and sit on that for 2-3 years and then grab a lightly used next gen wrx in 2014.

I am still pretty attracted to the two car thing though. I feel like now when I am young is my time to buy a roaring V8 and have my fun. Once I get married and then little devils get popped out of my future wife...There won't be any V8 fun time until they are all grown up and I'm old. That's if they still even make V8's in 20-25 years from now...

 

[thedarkwolf]

A mustang is stupid fun and everybody should try out a pony car at least once. I got it out of my system with an 89 5.0l 5 speed notchback. It wasn't super fast but it sounded and felt like it was. I miss it at times but I also really like my miatas.

 

[alkalinetaupehat]

How has this thread been around for two days with zero comments from exdeath? Is he in the hospital or something?

z1ggy, I'd say get the Cobra and just enjoy it. There's something nice about having the comfort and fuel-mileage of a regular car, with the keys to a monster just waiting for you at home. I'm planning to pick up a second car so I can work on my Supra's planned V8 swap without the pressure of transportation. It'll be nice having the flexibility of two cars, as stated earlier.

 

[z1ggy]

How has this thread been around for two days with zero comments from exdeath? Is he in the hospital or something?

z1ggy, I'd say get the Cobra and just enjoy it. There's something nice about having the comfort and fuel-mileage of a regular car, with the keys to a monster just waiting for you at home. I'm planning to pick up a second car so I can work on my Supra's planned V8 swap without the pressure of transportation. It'll be nice having the flexibility of two cars, as stated earlier.

Indeed it would. My only concern is that I feel like, at least for maybe the 5th gen mustangs that they use "cheap" parts and often have stuff going wrong with them. I would hate to buy a car that looks and seems in great condition, to only have $1000 worth of repairs soon in the future.

Same thing applies to used WRX's that some suggested. If I got an 06/07...That car is going to be mine for at least 3-4 years. I would hate to have tons of fixes for that too, although my car has 65k on it and I haven't had one thing go wrong with it yet. Just normal preventative maint. and what not.

Do you guys know if any (or most) banks let you transfer titles if a lien is on a car? I don't have the $15k or so for a second car so I'd need to take money out. If I got a 4-5 year loan, but I wanted to sell after 2 or 3..How would I be able to do that? Just trade it in (which I wouldn't ever want to do..)?

 

[z1ggy]

Here's 4 "Summer Driver" cars I found.

CTS-V:

http://www.cars.com/go/search/detai...pp=50&feedSegId=28705&aff=national&listType=1

'Vette:

http://www.cars.com/go/search/detai...pp=50&feedSegId=28705&aff=national&listType=1


SVT Cobra: Edit-Changed to '03

http://www.cars.com/go/search/detai...pp=50&feedSegId=28705&aff=national&listType=1

GTO:

http://www.cars.com/go/search/detai...field=PRICE&certifiedOnly=false&&aff=national\

Here's an STi:

http://www.cars.com/go/search/detai...pp=50&feedSegId=28705&aff=national&listType=1

 

[jlee]

If you're looking at Cobras, you want an 03-04. CTS-Vs are fun too.

 

[alkalinetaupehat]

The CTS-V and STi are not showing up for me. With the 'Vette and GTO you have a really cool thing where their motors are aluminum, and GM so happens to make an iron-block version that goes into their pickups, of which millions are on the road, driving down parts costs. They are very reliable too, though you'll have more expensive tires and possibly brakes.

Get a 2002-2004 C5 Z06 since they have the 5.7L 405hp block, which is an extra 50hp over the base Corvettes.

I just got back from driving a hopped-up 5.8L GT (ffaaasssttt), so I'm biased right now towards the Cobra. It also has IRS, which is a plus for handling. exdeath can tell you more than you'd ever want to know about the in's and out's of owning one, from what I recall it's nothing really quirky, just better upkeep because of the simple fact it's a supercharged sports car.

 

[power_hour]

Indeed it would. My only concern is that I feel like, at least for maybe the 5th gen mustangs that they use "cheap" parts and often have stuff going wrong with them. I would hate to buy a car that looks and seems in great condition, to only have $1000 worth of repairs soon in the future.

Same thing applies to used WRX's that some suggested. If I got an 06/07...That car is going to be mine for at least 3-4 years. I would hate to have tons of fixes for that too, although my car has 65k on it and I haven't had one thing go wrong with it yet. Just normal preventative maint. and what not.

Do you guys know if any (or most) banks let you transfer titles if a lien is on a car? I don't have the $15k or so for a second car so I'd need to take money out. If I got a 4-5 year loan, but I wanted to sell after 2 or 3..How would I be able to do that? Just trade it in (which I wouldn't ever want to do..)?

Liens are attached to the title. Borrowing 15K for a weekend car is pretty crazy. If you ever have to sell the muscle car with a loan, you might be upside down on the loan. Be smart and either trade your car for something more fun or just relax until you got the cash.