On my not so recent purchase of a winter vehicle in October last year to permanently retire the S2k from DD, I thought it was a great decision.

That decision turned into a perplexing battle of needs and wants as soon as 2011 came around. Here is why.


I've always thought about going turbo on the S. That goal can be made this year after my vacation in June. However if gas prices keep raising, i have to ditch the truck (and turbo) for something more fuel friendly. That hungry bastard truck gets best 18 miles to the gallon!

SOaB!!

But it has never failed me to crank over in any weather condition. It is reliable and gets me to and from work just fine. Minus it really hates highway travel.

I feel like a child that just wants a turbo.

Living situation, renting.
S paid off by September.
No kids.

Slap sense into me or on turbo?

 

I still get great MPG on my turbo S... one trip I even pull ab 30mpg, granted it was like 55-60mph most of the way, but I got on it a few times

Something to think about.

 

Needs vs want is a good way to put it. Really, no one needs a FI s2000. Quite frankly, I've never wanted one. The way I see it, you end up with a car that's so fast you can't really enjoy it (legally) on the street. And on the track, you're chasing heat problems all day (or throwing money at the problem not to).

But then again, none of us really need an S2000. We all have one because we wanted one and can (presumably) afford it. I say I need an S2000 because driving keeps me sane - whether it's cruising top down or pushing her on the track, it's a great stress reliever. Realistically though, I could find a cheaper and more practical hobby. So if you really want FI and if that's what is really going to make you happy, I say go for it. But find a way to do it comfortably financially. Perhaps sell the truck for something with better mpg like a civic or buy my svt focus.

 

I am not the best person to offer advice on want vs. need. What I can tell you is this:

If you are worried about gas prices, then putting a turbo on your car is probably not something you can afford.

Here is some math:
Most people drive an average of 15,000mi /yr. Let's say you get 18MPG on average in your truck and that you are using 87 octane at $3.00/gal (just to make things easy.)

15,000mi / 18 MPG means you will use 834 gallons of gas in a year. Times $3 that is $2500 in gas in a year.
If gas went to $3.50 you would pay $2917 a year. That is only $417 more for the whole year.
If gas went to $4.00 you would pay $3334 a year. That is only $834 more per year.

Don't get me wrong, I'd rather have $834 in my pocket than not, but that is less than $70 a month. If $70 a month is affecting your monthly budget that much, then a $6000-$8000 turbo kit just doesn't seem like a good move.

Don't forget, installation, plugs, tuning, clutch (with install) possible new exhaust, heat shielding, A/C relocation, fuse box relocation, and battery relocation costs. Even if you did all the work yourself, you can easily hit $10k on a good turbo setup. That makes $834 in gas seem like peanuts.

One more thing to consider. Housing prices are at an all time low. Buying a house within the next 12 mos is probably the smartest thing you could ever do. Interest rates are also, very low. My advice would be to forgo the turbo for now, and save up for a down payment on a house.

I know it's boring advice, and I admit I'd have a hard time following it if I were in your shoes, as I REALLY like fast cars.

 

Plan for fuel prices being $5/galllon. This is what more inline with what the rest of the industrial/industrializing world pays.

As more countries start gaining wealth and economic power, their fuel demands and ability to compete for the global supply will grow as well. This means that Americans will be paying more.

With that, plan for what you want to do with your current dd, using your S as a DD, throwing a turbo on the S, etc.

Me in your shoes, I'd keep the S2k naturally aspirated, would think about selling the truck (unless there's a need for it), DD the S2K for a year or so while saving up for a REALLY fuel efficient used econobox (anything that gets north of 38mpg).

That way, as gas prices go up, you'll be less impacted with the econobox beater. Prices of aftermarket stuff (like turbo systems) should go down, especially on the used market. You can decide then if turbo is right for you at that point.

As for getting into owning a house, consult a financial advisor or a trusted real estate agent, not a car forum. There's lots of reasons NOT to get into house right now even with the low interest rates, abundant supply of homes, etc. With population and economic statistics being what they are in the Chicago and surrounding market, housing is no longer seen as a solid appreciating asset. The home itself may appreciate over time, as may your equity in the house, however, the cost of ownership and the risk of loss over that same period is pretty high in today's times. It's very likely that the cost and risk will consume the equity you pull out at the time you sell the house.

There are a LOT of wealthy folks getting out of owning residential property now-a-days. If you really want to get into property, look into commercial property or property leasing groups.

 

Yep. I think that's all that needs to said.




As far as your S, do what you want, you only live once.

 

This.

This.

This.

It's nice to read sound advice before you have a chance to comment. Makes me feel like everyone isn't watching Glenn Beck in their spare time.

I just wanted to add bit based on my own experience.

I'm 32 years old now and bought my S2000 1.5 years ago after waiting to pick it up after 9/10 years, and after learning of its discontinuation after 2009. I waited because I wasn't financially ready for the car when I was younger and used examples weren't going for 9-10K. That being said, I can say that while I'm not sitting on $20,000,000 cash today, I'm still glad I waited until I was comfortable to buy the car. My wife and I lived downtown when we picked it up and had no need for a car, so it was purely a toy. Felt nice not to worry about the rest of my lifestyle because of my interest in blowing my cash on a "want."

With regards to picking up a fuel efficient beater, I have a friend with an S2K in CT and he didn't want to drive it in the snow. So he went out and picked up an old, very high mileage '97 Corolla. It's boring as fnck to drive, but it's as reliable as Porsche owners are douchebags. It only cost him $2500. He's fixed a few things that needed fixing and he's driving it through the CT winter just fine. If you're interested, I think he's selling come spring time.

And yes, regarding the house, think long and hard about it. My wife and I thought long and hard about it, and we still wish we waited.

And don't be shy about watching Suze Orman and "'Til Debt Do Us Part" on CNBC. It's annoying, and dream crushingly boring advice, but hindsight is 20/20 and I wish I took that more seriously 10 years ago.

Best of luck, bud.

 

Wow, there is a lot of great information here.

I won't begin to imply that I have much wisdom about decisions like this, but I can tell you what I have done in similar situations.

About a year ago, I got fed up with my 03 Mini cooper S. It was very practical and got good mileage, but it just wasn't as much fun as an S2000. I had paid for it in cash, but getting rid of it after only owning it about a year meant I would be taking a big financial hit. After determining that I was financially stable enough to take the hit, I found the exact S I wanted and made the decision to put my happiness first. Sure, I'm making payments now to do this, but every time I get in my car to drive, I'm overwhelmed with a joy I simply can't find elsewhere. To me, that was worth the risk.

I'm also currently renting an apartment in downtown Chicago. My lease ends this May, but despite knowing I'll be in school another year and have a full-time job in the area lined up after that, I am choosing to rent another year instead of buy a place. There are other opportunities I may pursue outside of the area upon graduation, so I don't want to limit you. Unless you're VERY sure that you wish to stick around there for a while, buying may not necessarily be the best option.

It's all a careful balance, and no-one outside of your situation can make it for you.

 

Honestly these are really great replies!

I figure my best bet is to continue renting, as I'm pretty sure where i live and work isn't where i want to continue living and working at.

Rockford doesn't have much going on, but the pharmaceutical business is picking back up at least.

The turbo idea will more then likely be a "progressive" allocation of components over a couple years then. I should focus on paying the S off rather then think of what to buy when the title is in hand.

Probably sell the truck and go for a DD with better mileage. Thank you all for helping me clear the want/need issue

PS:Not sure yet on a decision for a house though.

 

I'll just say it...although many people might disagree with me on this...

For a primary residence, unless you're planning on staying put in a given area for an extended period of time, buying a house is a waste of your time, energy, and money irrespective of interest rates.

If you're planning on settling in a given spot for the rest of your life and you can and will pay the house off in a reasonable amount of time, buying a place is worth it.

Definitely talk to people who are savvy and have some life experience as well, but don't be duped into buying a place if you're not planning to stay there for a while. And don't buy it and call it an "investment." A house is just a house. It's a roof over your head. If you want to treat it as a vessel for saving cash because you think it will appreciate over time, that's fine, but you have to know that you could be wrong and you could make very little in the sale, break even in the sale or lose money in the sale of said home.

That's all... Now, go think about your cash flow, savings, short and long-term plans and decide whether a turbo S2000, fuel efficient beater, or truck are for you.

And regardless of how old you are, kudos to the OP for recognizing and breaking the whole thing down to "want" versus "need." That's a school of thought that a lot of people aren't using these days...