Considering parting ways

[swah_fk7]

So, I've been hard thinking for the past few weeks now that I am full bolt ons, and feel "used to" the power I'm making right now. Part of me really wants to just part out, sell the car, and move onto something economical like a pre-owned CR-Z, so I can save up some money and buy my dream Toyota Chaser JZX80/90/100.
I owe about $25000 right now for the car as I've only had it for about 5-6 months, I know for sure i can get at least $20000 for the car so I'll be $5000 underwater. Considering I can get a CR-Z in the $7000-10K range I'll be paying significantly less for the car/insurance. Allowing me to save more money to buy my project.
Currently I feel like I am overextending my salary to pay for this car / fuel / parts.
I pay $580 for the car a month, and living in Miami, Florida I pay nearly $540 for insurance a month for full coverage.
I am basically paying $1200 a month and change to maintain this car and I just don't think i can justify it any longer.
What would you guys recommend I do? Wait a bit longer till I can bring down amount owed?
In parts alone on this car I've spent $8500 including my wheels and tires, so I know for sure I can get some money back for them.

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[Maroco]

First off, badass choice on the chaser

Second, ouch.... Idk how your insurance is that much. Full coverage is 152$ where im at.

Go back to just 91oct instead of ethanol blend for better mileage. And just run a ktuner. This car can sip gas if done right. There are ways to make this car cheaper.

If you can get insurance cheaper and save a little by going back to a more stock setup, you may be able to find a happy middle ground.

There are alot of pros with owning a new car, the warranty usually being the big one, but you pay for it through monthly payments and full coverage insurance costs. You modded right out the gate so im assuming you arent too worried about the warranty.

Maybe a new car isnt for you? Maybe buying used and saving is the way to go for you!

 

[xcoreflyup]

if car make you happy and worth losing couple thousand. do it. I like car but i don't like the physical labor work of fixing on cars...

 

[Civics4Ever]

Man, what is your insurance co? I pay about $70 per month, full coverage, through Allstate, but I have an ext. You really pay $540 per month???

Edit: Wth is a chaser? Are you really serious?

 

[Shankmeyster]

The real question is why would you dump that much money into the car in aftermarket parts if you are so upside down in it as is? That insurance rate is INSANE as well. Did you get in several wrecks? Putting it back to stock would save you a TON of money.

 

[saz468]

Man, what is your insurance co? I pay about $70 per month, full coverage, through Allstate, but I have an ext. You really pay $540 per month???

Edit: Wth is a chaser? Are you really serious?

Insurance is a little high in Florida I’m not paying that much. But a little under $100.00 a month for full coverage when I lived in New York it was less then Florida and I’m 51 years old

 

[jred721]

Agree with @Shankmeyster , not trying to knock on you or anything but if you knew you were under water as it is spending that much on aftermarket parts doesn't really make much sense. I think you're biggest problem though is your insurance payment, that's absurd. If you get rid of that insurance payment and shop around with other providers and get a better rate, that right there shaves hundreds off of your payments. I'd first do that and go from there, but it sounds like in general you're not really happy with spending so much on a car at this time.

If I were you, I would go ahead and part out your car first maybe just leave the KTuner or something and find another insurance plan and see where you are from there. If you are still stretching financially after cutting those costs out, then it's time for you to sell and move on. There's plenty of cars out there for under $15k hell even under $10k that are still plenty of fun and a good daily as well. Cars are great and all but they're not worth stretching finances for at all, they're a depreciating asset that you sink money into at the end of the day. Sure they're fun, but it's good to balance out financial sensibility and what you really want so that you're not paying the price (literally) later on.

side note: @Civics4Ever a chaser is a JDM sedan from the 90's that we didn't get in the U.S, they're usually fitted with a 1JZ or 2JZ engine which also notoriously powers the Supra, they're badass and essentially like a 4 door Supra.

 

[swah_fk7]

That sounds like an absurd amount of money to be spending on car insurance. Have you tried shopping around other insurance companies?

I live in miami. Just the other day somebody broke into my car and stole my drivers airbag along with my Hondata flashpro amongst smaller things i had inside my car.
Theft and fraud are very common here and that is why my insurance is so high. I am 22, turn 23 in april. I got requoted and it dropped to like $430/mo.

Financials aside, I can afford the car, insurance, and my parts.
I'm just bored. It's so much money for something that doesn't make me giggle or happy anymore.
The chaser im buying is already 1jz and is basically the highest possible trim level for the model I'm buying.
I've actually done some reconsideration, and I'm not going to buy a CR-Z or a daily driver. I'm just going to go all-in on the chaser since right now its sub-60k miles and is well maintained. (Toyota reliability baby.) And with that decision, comes me completely getting rid of the civic. Luckily, all the parts I bought for this car are brand name, hard to acquire, or just downright impossible to find for what I paid for them, so I should get most of my money back for the most part.

 

[xcivicx]

Something else calling .........go and don't look back, you won't be able in a few years. But I could be bass ackward

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