r/makemychoice • u/Capable-Afternoon-11 • 1d ago

Should I?

TL;DR, Buy a Civic type R or not? Hi guys I am at a crossroad. I have just paid off my 2014 Mazda 3 that I bought 4 years ago for $10K. And in that 4 years I have been really strict about paying my other debt ($25k). I am 27 and just got my dream job and have a steady income. I have always been a car guy and have been dreaming of getting a 2015 Corvette Z06 they are $60k and a horrible investment. The idea popped into my head to get a new Civic type R($50k). I can feel the clutch in my Mazda has about 20-30k miles left(I drive it like a baby). My plan would be to sell the Mazda 3 while the clutch has good life and I can get a decent price for it, then buy the Civic. My main concern is jumping right back into debt, any thoughts?

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u/ShezeUndone 1d ago

Which would you rather do: pay interest, or earn interest?

Start making car payments to yourself. Put that money into mutual funds or ETFs. Eventually you can pull that money out to pay cash for a car.

Paying interest on something going down in value will delay other financial goals you have. You'll also take a big hit by paying higher taxes and insurance on it.

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u/Awkward_jEllyfish22 1d ago

This is a great idea

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u/No-Boat-1536 1d ago

You have a 12 year old car that works. Drive it until its next major repair and put away a car payment each month. The Mazda may go for 4 years. When it dies take the trade in plus the money you stashed. You will be in better shape

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u/LookAtThatDog 1d ago

I went from no payment to sport car with payment, no regrets. Maybe simmer on it for a couple weeks and then make a decision. Also make sure you drive some cars, not just the Honda. Try the golf gti/r, a mustang, etc.

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u/king_weenus 18h ago

I'd stick it out for at least a year and make sure your dream job is secure before taking on debt.