Red Ps + 17years Old + Speeding Record + Skyline =?

[Nastazia]

hey guys i got my license suspened for 6 months for speeding (yes i know im a dikhed and i learnt my lesson the hard way) , i got my license in march of this year, im getting my license back on the 23rd of december, im buying a non turbo, 2 door coupe, R34 Skyline.. im 17 on my red ps - NSW

now with insurance, wat do you guys recomend, full comp, thirdparty , third party + fire n theft

i just got a quick online quote from just cars, they quoted me $4300 full comp, $700 excess + another $700 for under 21 year old driver... PLEASE TELL ME I CAN FIND CHEAPERRR!!!!!!!!!!!!!

Go through a broker dude. It will be your cheapest option.

[dangerman4]

option 1

buy a r34 spend $20k and another $5000 a year on insurance,rego,tyres etc

by the time your 20 if its still straight, with no accidents you will be out of pocket $40k.

and i would hate to think how much $ if you were to write it off.

If you damage your driving record anymore you will be paying $5000 or more for the next 10 years.

at the end of the day you will be 20 and have spent the best part of $40000 and have a car thats only

worth $10000

option 2

use the $25+k towards a deposit on a house? Rent it out, so it pays for itself.

if you have saved this much in your working career of maybe 2 years, you should spend your money wisely.

by the time you turn 20 you will have 30 grand equity in your house which you can use to by a r34 and the insurance will be half the price.

You will then have a house and nice car.

cars depreciate

houses dont.

Im suprised none of the other wise old members on here havent suggested it!

[PHATR32]

ummmm, ye houses in perth are going cheap at the moment.

dangerman4 is a wise man, may sound boring, but in a couple of years time, youll be cruising in a r34 gtr, not a shitty r33.

[simor32]

umm houses in perth are NOT goin cheap at the moment lol

[sigsputnik]

cars depreciate

houses dont.

Im suprised none of the other wise old members on here havent suggested it!

What? Of course houses depreciate. Everything physical depreciates. The difference is (a) the amount of time over which the depreciation is amortised and (b) that with a house you also acquire land, or licence over the land.

Other than that, sound advice.

[PHATR32]

dude i was being sarcastic.

a house on the other side of my block sold for over $600k last week. almost exactly the same as mine cept mine is on a quieter street.

umm houses in perth are NOT goin cheap at the moment lol

[Kaido_RR]

im just got to add my 2cents

background info on me: i got my skyline when i was 16, (2months before i turn 17) got it so i could learn to drive manule and take the driving test as i didnt want an auto p's.

I am now 19 (20 in a few months), and have not had a major crash in my skyline (touch wood), yes i have had the odd minor accident (roll into the car infront of me and crack my frontbar and lost it in hills at low speed and put a hole in my I/c)

Ok so now you know something about me

My adivce would be to not get a skyline for your 1st car, if i could go back in time i wouldnt. i would have waited till i was in my mid 20's and bought myself a more $$$ sport car like an evo or gtr. and the money i would have saved i could have had enough to start thinking about putting a despoit on a house...

WHY? because the amount of money i have wasted on my car (350hp later), the amount of effort and time i have spent getting it to what i want and the AMOUNT OF BS i have taken from people IS NOT WORTH IT!

BUT i know no matter what people tell you, you will get a skyline, hay even if i could go back in time and tell myself not to buy a skyline i bet i would have still Ahahaha. just makre sure you drive very carefuly

Cheers Michael

ps @ the end of the day You cant race a house hehe

[Pax-Ottomanica]

Sister in law works at Just Cars/AAMI, even though im a rating 4 put me down as rating 1

[merlin6014]

mate just get wat u want dont worry about anyone else....just make sure when u hop in that car and u start being a danger to urself and everyone else, be prepared for whats cummin.

im 18 with a turbo r34 paying 3.5k a year with a excess of 1700.

ive had 3 incidences where ive been smashed and was totally not held accounted for (some may dissagree but funny how i stil keep my rating and never paid anything)

the only down side is that my cars been in a smash...and thats the only thing i regret.

i guess what im saying is in the end its ur own money.....ur money ur payin for the car....for the insurence.....so the only one thats gonna feel like a idiot when u wrap something around a pole is u

ignore half of the wankers on SAU who are telln u to get a lancer or some other crap. if u got the money get something nice. just prove em wrong u can handle a skyline.

I cant believe you are 18 and have had three accidents already and you are claiming none were your fault - obviosuly there is a common denominator to the accidents - i.e. you. I've been on the road for 10 years and never had a single accident. Some poeple need to learn how to control a car...

[MBS206]

Buy a house hey...

If he can't afford insurance each year, how the hell is he going to be able to afford a house loan?

On a 250 000 loan, spread over 30 years, the repayments are at: $784 per fortnight.

If he can't afford $192 per fortnight ($5000 divided by 26) how can he afford $784?

Plus the factor that he needs at least 5% for most banks/credit unions to go near him... So he has 10% so far, but, because he's below 20% of the loan, there is a mortgage insurance, which is worth something like another 10% (I can't remember right now)

And if you're wondering where the figures came from. I was speaking to my bank manager 3 days ago about pulling 2 loans into one...

[sigsputnik]

I decided a while ago not to get into arguments on the Internets because it just isn't worth it.

>yes and no to a point. i always think that learning at an early age is imperative as its easy to learn young.

Yes, it is important to begin learning early. It's easier to learn when you oare young because it is easy to do many things when you are young. It is also easy to learn the wrong things when you are young.

After all, the same argument could be used for firearms and narcotics.

Similarly, markimak I don't think you could easily argue that your young friend is somehow also a quick learner - if he was, shouldn't he have been able to get into your car without smacking it into something? Shouldn't he have been able to better predict the results of stomping the accelerator? Shouldn't he have been able to think, "this is a weapon, and i don't own it. I must respect this or it could cost me."

In fact, it's this impetuousness that is at the heart of this issue: young people are much more likely to incorrectly assess and impound risk.

pretender, you don't need a sister working at the insurance firm to be listed as rating 1 - you can just call them up and tell them that that's what your rating is. They are happy to engage in such a deal on good faith. When the time comes to claim, however, their diligence process will reveal your true rating. From there, it's sayonara claim, sayonara paid premia, and sayonara sister's job. Possibly also sayonara future insurance.

>If he can't afford insurance each year, how the hell is he going to be able to afford a house loan?

This is the nature of disposable income. I won't pay $3,000 p.a. for insurance on a $20,000 asset, but I would have no problem repaying $3,000 a month on a $250,000 loan.

Finally, not all cars cost the same to insure - it's not just the value, the vehicle's age is also important.

Sorry for the rant.

[dangerman4]

Buy a house hey...

If he can't afford insurance each year, how the hell is he going to be able to afford a house loan?

On a 250 000 loan, spread over 30 years, the repayments are at: $784 per fortnight.

If he can't afford $192 per fortnight ($5000 divided by 26) how can he afford $784?

Plus the factor that he needs at least 5% for most banks/credit unions to go near him... So he has 10% so far, but, because he's below 20% of the loan, there is a mortgage insurance, which is worth something like another 10% (I can't remember right now)

And if you're wondering where the figures came from. I was speaking to my bank manager 3 days ago about pulling 2 loans into one...

he hasnt once said that he cant afford the insurance, hey has only stated that he doesnt want to pay $5000 a year unless its the only option.

you also forgot the part i mentioned about him renting the property out. It sounds like his parents must be fairly well off, otherwise they would have kicked his ass into next year for even thinking about waisting $25k

its his call it just depends on if he wants to be a wealthy 25 yr old, or not.

if you waste all your money now and wait 8 years to buy a house your going to need $100k as a deposit.

PS

Me my brother and 2 of my friends from high school all purchased our first houses before the age of 20.

i have 6 other mates from the same group at school that wasted there money on cars.

2 have recently purchased there first homes for more then double what we payed 8 years ago

and the other 4 are stuck renting.

you do the math.

[br3tt]

I'm 17 and on my red's with a R33 GTS.

If you haven't realised, the only place that will insure you is JustCars. I have made one claim with them, and my 3rd party fire and theft went down $200 (was $863, now it's $653 or something).

Full comp for me was $5000 if I remember correctly. 17 year old with clean record. I expected something like this.

I love my R33. Gets driven every day. I take it to school, work, everywhere.

My dad has a R33 GTST and I drove that on my L's and personally there is enough power with the N/A then you need. If that turbo rule wasn't there I bet atleast 4 of my mates wouldn't be with me today.

It all comes down to your maturity and driving. I'm not a pro driver. I'm not above average. I will drive the car suitably for the road's conditions and keep it like that. Sure you get tempted for a little squirt, but that 5 secs of fun could be your license. I know it's hard. But keep it on the track.

Heaps of my mates have their P's. My friends at school we will use for an example. 7 of us have our P's. 4 of them have been done for speeding, one for drink driving. Of those 5 done, all where driving toyota corollas and commodores. I'm not saying every rolla or commo driver is a speeder/drink driver, I'm just illustrating that not everyone who drives an import speeds.

My R33 is pretty nice looking in my opinion. There are heaps nicer looking cars, but for the price I paid, I'm cheering. I've got a full kit, rims and exhaust etc. It looks hot, and when I tell people what it's worth a lot don't believe me. Especially when they pay $8,9k for a stock VT or $9ish for a decent lancer. Mine was a bit more then this You can't tell it's a non-turbo. But people give you shit when they know it is a n/a. Just jealousy mainly I imagine.

Best bet is to either halve your $20k, keep 10 in the bank and put 10 into a car. Get a R32 or R33 GTS and kit it out, drop some massive rims on it and just cruise.

You get tonnes of dickheads at the lights. You can chose to smoke them (or try to), or disappoint them even more by not budging and basically sticking it to them implying you would smash them anyway. I get people revving all the time, and swearing at me to run them; all you have to say is "your not worth the petrol uleh" and they shut it. You usually see pretty good smoke shows anyway.

[MBS206]

he hasnt once said that he cant afford the insurance, hey has only stated that he doesnt want to pay $5000 a year unless its the only option.

you also forgot the part i mentioned about him renting the property out. It sounds like his parents must be fairly well off, otherwise they would have kicked his ass into next year for even thinking about waisting $25k

its his call it just depends on if he wants to be a wealthy 25 yr old, or not.

if you waste all your money now and wait 8 years to buy a house your going to need $100k as a deposit.

PS

Me my brother and 2 of my friends from high school all purchased our first houses before the age of 20.

i have 6 other mates from the same group at school that wasted there money on cars.

2 have recently purchased there first homes for more then double what we payed 8 years ago

and the other 4 are stuck renting.

you do the math.

Rent is still not enough to purchase a house on its own.

Rent at say $300 a week (average rent for a $400 000 house near me.

So we'll say $200 a week on a $250 000 house (Which is around what it is)

He's still down quite a fair bit. Hence, when he gets the house, and rents it out, it will be classified as being negatively geared. Hence, you own the house, at a loss to you!

You do the math, when you first buy the house, with todays prices, and our interest rates, repaying the house is a bloody lot of money. Rent on its own will not pay for it.

Also, if his parents have this much money to kick around, wouldn't they buy there own house already?

[Jaker34]

negatively gearing a house is a massive tax write off, givin tax time is only once a year so you'll have to wait for your return.

im currently in the market for an investment property here in brissy, because of interest rates im gunna wait it out.

my advice, dont take in half the bullshit spit here man, if you want the car and are willin to pay the insurance, then get the dam thing, you wont be happy until you own it, trust me ive had a few cars in my time and was always building up to the 34, now that i own it, im stoked.

but be careful, your not invinceable, and shit does happen.

[_8OO5TED_]

lol, wayyy to much financial talk hey. this 'kid' is 17, id say there is a 99.9% chance he AINT going to buy a house.....

Edited November 17, 2006 by _8OO5TED_

[Cheeky_Nympho]

fact of the matter is skyline with p plates turbo non turbo doesnt matter they still attract to much attention from the po po!! and if u've already lost ur license ur srcewed they'll know to look out for u in ur area!! i'd go the house and buy a much better car when ur older and u know for certain that ur a better driver and got less of a chance of majorly writing it off ( then again theres always that chance with every1). im 18 and own my own place seriously its a good feelin, and u know u can take out loans or whateva u need and use the house as insurance... go the house

[diamondjo]

Dude, there's some pretty sound advice in there. A mate of mine had a laser TX3, certainly no shitbox, okay for parts, plenty quick and decent to learn the ropes in. My first car was a Charade and I certainly learned a lot in that car and when I learned lessons in it, those lessons were normally fairly cheap to repair.

I've plowed into a tree with it and been hit by a truck (The truck was not my fault but the tree was totally my fault lol). The point is if I had been driving a Skyline when I hit that tree, I'd have been going a lot faster and I pretty sure I would not have lived to write this to you now. I was a bit of a hoon when I was younger and I'm sure it was not having all that power at my right foot that prevented me from going off to see the flying spaghetti monster too early. I don't want anything bad to happen to you, but I think you need a few good frights first. You need a couple of low speed accidents or very near misses to scare you straight. Preferably involving your own stupidity and nobody else - a little like what happened to me.

However, I know from experience, that getting a Skyline is more of an emotional decision than an intelligent one - so I say buy it. But, take a good long hard look at yourself first. You have an appauling driving record and you've got that arrogant invincible streak about you. If you do get a Skyline, grow up FFS - it's not a boys car. Don't kill yourself or anyone else.

Douglas has something pretty apt to say about all this:

Human beings, who are almost unique in having the ability to learn from the experience of others, are also remarkable for their apparent disinclination to do so.

Douglas Adams (1952 - 2001)

Iain

Edited November 19, 2006 by diamondjo

[cowie165]

negatively gearing a house is a massive tax write off, givin tax time is only once a year so you'll have to wait for your return.

...dont take in half the bullshit spit here man,...

Speaking of bullshit spit in here, you CAN vary your income tax payment so you pay less each fortnight, and DON'T have to wait for once a year.

Section 221D of Income Tax Assessment Act.

[Jaker34]

you can still only claim for a return once a year my friend!!

thats what i was getting at.

i dont find the income tax act an exciting read haha