"Kailand09" (kailand09)
06/20/2015 at 22:59 • Filed to: None
0
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"Kailand09" (kailand09)
06/20/2015 at 22:59 • Filed to: None | 0
| 21 |
I’m young, have a good job, and am working to pay off student loans quickly. I know I should be saving but I want to get into racing.
I’m kinda debating on planning out buying an F500 and racing it in auto cross.
I am not really interested in Miatas, and I figure an F500 is relatively cheap and shouldn’t be bad for auto cross as opposed to road racing.
Thoughts?
JGrabowMSt
> Kailand09
06/20/2015 at 23:16 |
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What kind of racing are you really into, just autocross, or something else? Autocross can be extremely competitive, and it’s a bug that can bite you worse than spec racing or even LeMons.
Personally, I had no student debt. Just being honest, not trying to say anything else, so I understand where you’re coming from with wanting to have money to get a car to race. I personally went out and bought a car right before graduating (my HEMIWagon) and then a second one only a few months after that (my SL600). I dropped a very significant amount of change on the two cars, but I outright own them, something I wanted to get out of the way before getting an apartment or moving in with my girlfriend. Priorities, amirite?
As far as paying things off though, financially it makes sense. When you let things go for too long, interest can make the initial number end up being much larger, but since there is sort of a “minimum payment” that you can get away with that is “doable” in the short term, then it makes sense to be able to distribute your money and have some to play with.
My answer? Maybe start with something a little cheaper, and work your way up? I don’t know the cost of an F500 kit, but have you raced before, or are you going to be introducing yourself to autocrossing or bumping up to a different experience bracket? If you’re jumping into the fire for the first time, I’d get a cheap beater off craigslist or something in order to get used to the rules, the courses and to also help you learn what to do with a car that’s not expensive, and something that is a bit more expendable in the event you have a problem. As far as budgeting, you’d have to think of it long term, and base it on your salary, rent, etc etc, what you can set aside each month for a car, parts, tools and registration fees. Put your happiness first because you can’t go back and make up for lost time, so absolutely do get yourself into something for autocrossing, but unless you’re already autocrossing and have lots of experience, ease into it. With no experience, any car can get you in, but having too much car with no experience to back it up could end up being a bit of a problem rather quickly.
OPPOsaurus WRX
> Kailand09
06/20/2015 at 23:29 |
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Um yes literally cuz racecar. Our not cuz debt sucks
If only EssExTee could be so grossly incandescent
> Kailand09
06/20/2015 at 23:30 |
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Buy one of these:
nlzmo400r
> JGrabowMSt
06/20/2015 at 23:31 |
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No jail for debters...race while you can!
Dsscats
> Kailand09
06/20/2015 at 23:33 |
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My recommendation? Pay off most of the student loans and autocross your DD for a while.
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Kailand09
> JGrabowMSt
06/20/2015 at 23:37 |
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Great answer.
More details- I’m into road racing but the wear on the car would be more expensive. I’ve also never raced before in real life, just iracing
An f500 car that’s OK and not necessarily a front runner seems to cost around $5k +/- 2k depending on extras and trailer, and go as far up as like $15k. I figure that is around the price of a miata for something I will enjoy much more and never be able to out grow really.
Parts aren’t supposed to be crazy expensive, but probably not beater cheap.
I’m just really worried life will fly by too fast after I get married and I’ll never find the time or opportunity to race if I dont start early. Scares the shit out of me that I won’t enjoy life because I’ll always be worried about spending money.
I know racing isn’t cheap, but the sim doesn’t quite give you the whole experience
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Kailand09
> Dsscats
06/20/2015 at 23:38 |
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I’ve thought about that, but what happens when something breaks on your DD? You get kinda screwed trying to go to work.
Also bye warranty.
I plan to auto cross it a few times but not too much.
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Dsscats
> Kailand09
06/20/2015 at 23:40 |
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What’s your DD?
Maybe pick up a cheap NA and strip the interior. Beat the shit out of it, upgrade to an R500 in a few years.
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Kailand09
> Dsscats
06/20/2015 at 23:42 |
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DD is a FoST . I kinda sprung for that when my car was dying .
Turns out a fun car doesn’t feed the hunger, it just makes the hunger stronger.
I know it’s a great auto x car but I really don’t want to trash it.
Also a miata won’t be much cheaper to buy and run then an f500 car. It may even be more expensive in some cases.
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Kailand09
> If only EssExTee could be so grossly incandescent
06/20/2015 at 23:44 |
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WTF is that lol
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Kailand09
> OPPOsaurus WRX
06/20/2015 at 23:45 |
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Well the debt is already managed and planned.
F500 cars don’t exactly cost all that much. It’s more so the recurring costs to keep running it in races.
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If only EssExTee could be so grossly incandescent
> Kailand09
06/20/2015 at 23:51 |
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It’s called a Global GT Light. They’re basically tiny sports-prototype-style cars with Yamaha motorbike engines.
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JGrabowMSt
> Kailand09
06/21/2015 at 00:34 |
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If you get a Miata you can drive to/from the track, then you can knock off the trailer cost. You can get a rear rack for competition wheels even so you don’t even tow anything behind you. Most Miatas are going for pretty cheap, so budgeting $15k is more like planning on a V8 flying Miata build to be honest, and if you’re just doing fun little stuff, Miatas are very versatile, and you can do racing all year round in them. Mathias did ice racing in his even.
I’m not that far away from getting married myself, so I understand that concern behind that completely. I’m not yet engaged, but it’s on the to-do list right after getting my own place, so budgeting is very important. Don’t rush into anything, but let the future happen, don’t try to plan it too far. Since you DD a FoST, you’ve got a fun little car, but I totally agree with the sentiment of not wanting to break it.
A cheap beater car is how I would go. You can use forums as you gain experience for recommendations on parts combinations, but I would stick to something you could drive to/from the track rather than something you’d have to trailer. If you wanted to go for a kit car and build something that would be wicked on the track, look at Factory Five, specifically the 818. That’s a really basic, road legal car that’s based on Subaru running gear. RWD only instead of the all wheel drive, but small, basic, light and well balanced. You could register it for driving on the street to avoid a trailer cost, and put that money towards something else. All things considered, the kits aren’t expensive, and you could build it yourself and let it teach you about setting up the car for a specific use, and then when it’s done, you can tweak it to be able to reach your goal.
But personally, I’d start with a Miata or similar beater car that’s simple and very inexpensive and work up to something more. Sure, there was the drivers academy where the gamers were able to do very well right off the bat, but moving from console to actual race track is a big change. Dont be worried about spending money. Budget yourself and spend it wisely, but don’t forget there’s always another job, and there will always be a means for you to be able to race, even if it’s just a once in a while autocross. I would go ahead and make sure you get yourself your own little track car, but until your in a position to trailer a car to events, keep it road legal. It’s never too late to start, and there are plenty of opportunities. I know people will into their careers just getting started with competitive driving, and by keeping their cars road legal, they can drive to/from tracks to keep costs down, and it also gives them more seat time in the car so they notice when something isn’t right, even if it’s difficult to articulate exactly what doesn’t seem right.
If you’ve got a good job now though, I wouldn’t be concerned with throwing every spare penny at student loans. I would certainly make sure to continue to pay them off, but put yourself and your happiness first for sure.
MrDakka
> Kailand09
06/21/2015 at 00:37 |
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Pay off loans and buy another FoST
citizennick
> Kailand09
06/21/2015 at 04:49 |
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Formula Vee is relatively cheap racing if you got a series around you. Auto-x is fun and all but the track is better.
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citizennick
> Kailand09
06/21/2015 at 04:52 |
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FoST is amazing in G-Street if the car is still stock. I sometimes wish I kept mine stock because of that.
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Kailand09
> If only EssExTee could be so grossly incandescent
06/21/2015 at 09:06 |
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Looks like it’s only in Ireland?
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Kailand09
> citizennick
06/21/2015 at 09:16 |
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Yeah my concerns are three with formula vee :
I hear it’s becoming less popular. I’m not sure how true that is though.
I also feel the track will be more expensive than auto x. Less stress and less broken parts and tires and brakes. Maybe a misled thought too.
Last though, I have no real world experience on track so I figure I can’t mess up laps of others around me while still getting experience at auto x.
TheNeonDriver - Now with More BMW!
> Kailand09
06/22/2015 at 15:02 |
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Step 1: buy something Really cheap to try out autocross the first year. Like first gen automatic neon cheap.
Step 2: Invest in the best tires you can.
Step 3: Love the PAX gods. Do not modify your car. DO NOT modify the car (fix, not modify)
Step 4: Invest some ($200/month whatever you can afford, compound interest is a real, awesome thing) money each month in Vanguard ETF’s or other Index funds.
Step 5: Pay off some student loans, re-finance if possible in a year.
Step 6: Save several thousand for next race season.
Step 7: With 7-10K, buy what you want, race when you want.
I say this having been in your position. I did the exact opposite of what I listed. I spent 10K on a car only for racing, rolled it, when upside down immediately to the tune of an additional 10K and then painfully paid it off for the next 4 years.
Don’t be me, buy something really cheap, and build skills before worrying about being fast. Once you have a season or two at the track (I did Auto-X and Solo Time Attack, which is like Auto-X only faster, and Way more expensive) and you have some cash reserves, I would then buy something like a F500 and race it. Plus if you wait, I bet you can find a screaming deal on one that someone just needs/wants out of.
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Kailand09
> TheNeonDriver - Now with More BMW!
06/22/2015 at 20:04 |
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Great advice thanks man. How cheap does a neon like that go for?
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TheNeonDriver - Now with More BMW!
> Kailand09
06/22/2015 at 23:19 |
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They start at $500 and go up to $1200.