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How Much Should I Set Aside For "emergency Money"

Astro Bear

By Astro Bear,
in General Automotive Discussion

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Astro Bear Veteran

Astro Bear

Posted
Posted

Hey guys,

Im in two minds at the moment. Theres a skyline I like, its 13.5k. I have 15k in the bank, and another car I need to sell (should get 3-4k for it) As I need to pay stamp duty, pay a little more for insurance etc, just wanted to get some opinions as to how much I should be setting aside after I purchase my skyline. The last thing I want is to buy the car and then have to fork out 2 grand if something screws up. You know what I mean? How much did you have set aside when you purchased your pride and joy?

Any help would be great, and I like to be cautious in these situations.

Regards,

Johnny Veteran

Johnny

Posted
Posted

Oh boy its a hard call, to reduce the chance of anything going wrong i would pay for a professional checkup before buying. Make sure you get compression tested, panel clearances for any major accidents, leak test etc.

This will minimize the chance of your wallet becomming a whore and opening up all the time.

Ive had my gtr for about 6 months and ive already spent 5k(ish) on it; they dont call skylines money boxes for no reason.

babyskyline Grand Master

babyskyline

Posted
Posted

I would say just get everything checked out before you buy it by a mechanic and as long as everything is pretty good and there is nothing really wrong with it, i would try to keep at least a few grand in the bank for those unexpected times/breakages. That way you can cover yourself for most things that can go wrong.

Astro Bear Veteran

Astro Bear

Posted
  • Author
Posted
I would say just get everything checked out before you buy it by a mechanic and as long as everything is pretty good and there is nothing really wrong with it, i would try to keep at least a few grand in the bank for those unexpected times/breakages. That way you can cover yourself for most things that can go wrong.

Yeah, this is my thought exacty.

flyingfridge Community Regular

flyingfridge

Posted
Posted

I always keep a couple of grand handy in an emergency fund, my story is similar to Johnny, I got my GT-R in March and I've already spent $5k too.

br3ndan Mentor

br3ndan

Posted
Posted (edited)

lol i am another victim of the mod bug...

its like smoking ciggies, its so hard to stop!

ahhh. !

Im trying to limit my self to one mod a month and its tough! Don't laugh im being serious... watch out for it. Although maintiance like oil, spark plugs, brakes and the rest of it isnt included in the modding, i do them regardless of the mods ive installed/money spent.

O ya, when i bought my car end of last year, i kept 2100 or something similar in the bank, after insurance and new tyres.

Edited by br3ndan
AlexR34 Proficient

AlexR34

Posted
Posted (edited)

Stop scaring the guys u GT-R Freaks. :(

Just get a good mechanical checkout and you will be right. If you start modding then u know what road u going down otherwise i didnt find it to expensive to own a skyline, set aside about 2 grand u will be right, unless u getting full comp insurance then set aside 4 grand.

Also don't buy a GT-R because they are major money boxes, just get urself a nice gts-t.

Edited by AlexR34
MFC05 Experienced

MFC05

Posted
Posted

I dont understand why people keep going on about Skyline being high maintenance etc or things may go wrong, they are the most reliable car ive ever owned apart from the fuel consumption. They are generally well built cars thats if you dont buy one that has being on the drift or race tracks every weekend sure they may have small little problems but nothing that big and you would need a couple of grand for emergency money, or stress about !

Johnny Veteran

Johnny

Posted
Posted

What is insurance like these days for 18-20 year olds?

Im 22 and my r34 gtr vspec 2 is only 1500 to insure.

When i had my s15 at 19 it was 2500; talk about what a couple of years do for your premiums

Johnny Veteran

Johnny

Posted
Posted

have you called shannons, they offered a special rate for people who dont drive often. I dont know if they still have it though.

not bad for 2k though, i would get full comp. Pay for it by the month and it will be around 160/m. Skylines are always hot items for theft

which insurance companies offer pay by the month premiums?

GTR-N1 Grand Master

GTR-N1

Posted
Posted
Yep, my missus is well and trully getting the sh*ts. Have to stop modding.............for a little while :)

Hi Bakes!

I noticed you've got a "happy family"! And I do believe that she knows you mean well.

Just start another (more personal) bank account - for '****y day'

****y = moddy

Cheers,

Tez :(

GTR-N1 Grand Master

GTR-N1

Posted
Posted
have you called shannons, they offered a special rate for people who dont drive often. I dont know if they still have it though.

not bad for 2k though, i would get full comp. Pay for it by the month and it will be around 160/m. Skylines are always hot items for theft

which insurance companies offer pay by the month premiums?

^^^ +1 ***And ensure that your precious jewel is insured for Agreed Value (not Market Value)

Just Car won't give monthly premiums at last count.

Budget within your means eh?

And make doubly sure that you get a superb car; to ensure that your kitty doesn't haemorrhage.

Cheers, Tez :(

MP_R33 Mentor

MP_R33

Posted
Posted

hey man looks like your in the same sort of predicament as i was.

Say u have roughly 15k that will get u a very nice 33 gts-t although ur right with the emergency money. I had thos car checked by the pros and went over it very THOROUGHLY by nyself also. There are always things sellers are going to hide and not fork out any money for over looking all the parts i needed a major service done. Theres already 1k new pads cost me 200 through nissan and ur going to be looking at alot of other small hicups that will arise so its kind of hard to put an estimate on them. Imho if i was to buy a gts-t now i would have at LEAST 4k aside including insurance money. This being said imports require some extra tlc compared to ur toyota yarris haha.

Hope i have helped :P

HEKT1K Grand Master

HEKT1K

Posted
Posted

hmm i too have found my skyline to be ultra-reliable.. i have driven about 3500km in the few months i have had it.. all i have bought was a stereo. that's it. i don't understand why thousands of dollars are apparently needed :s if you have some willpower surely it's easy enough to NOT throw all your money at making it go harder..

i bought a skyline because i believed them to be rock solid and reliable, and thus far that has been the case for me. it's just strange how everyone here raves about how sweet skylines are (and i definitely agree), but then turn around and advocate having enough coin left over for a full rebuild etc.

when people say GTRs are 'money boxes'.. does that mean shit breaks all the time? or it's just impossible to not spend money modifying it?

HotPlates Proficient

HotPlates

Posted
Posted

I've never had a problem with my R33 Gts-t. I've owned it for 1 and a half years now and it's been my most reliable car that I've owned. I did however put aside $2k just in case something goes wrong, but I haven't had to use it yet (touch wood)

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