Please help me!!!!

[sjaineb]

I\'ve got a bit of a dilemma,

There is a RX7 that i am looking at buying at the moment, its very clean had a rebuild recently, the problem being i\'m going to have to borrow the money for it. (7000) and then lay out over 2000 for insurance. I\'ll be 21 when i drive it.

Am i doing the right thing? is worth me getting into more debt, its going to be very expensive to run i know, but to what extent i don\'t and a shock it will be as i\'ll be coming from a 1.2 corsa!

What i would really like is some insight to how you lot found the journey of buying your first RX7. the faults you found with them after you bought it and the extra outlay of cash you had pay out etc etc.

...and then the big question was it worth it?

You see i have to try and convince my mum too!


Thank you!!

[Spartacus]

Noooooo don\'t do it, let me know which one it is so I can have it! :cool
Seriously, do as many checks on the car you can beforehand to give a bit of confidence and plan for the worst-case scenario. Then when you get it and have everything covered you’ll get so much more fun from it rather than worrying what might happen.

[Gman]

Its always worth it, although you may not think it when you bank balance is in the red.

Make sure you can afford the day to day running plus a little extra as you don\'t want to have to sell up if you can\'t afford a couple of new tyres.

[sjaineb]

The main thing i\'m worried about is petrol, how much does it usually cost to fill a tank and then how many miles roughly would you get out of it???

[andyrose]

it costs alot to fill the tank and you don\'t get many miles
budget for 17-22mpg as a rule for twin turbo set up.

[Bobbit]

costs about £60 to fill and i\'m lucky if it last a week!

[Mr J.T]

right i was 20 when i bought may first rex, thing is the first outlay of money for the car etc etc isnt too bad u can cope with the repayments, but in my opinion dont ever borrow money for insurance its a huge huge mistake.
also consider the day to day running of these cars. im not pushing more the 10-15mpg in mine that all adds up.

[Mr J.T]

also would u have any spare money for the "rainy day" cos even tho it has just been rebuilt these are 10-13year old cars other things WILL go wrong

[D1 WTF]

that is a hell of a lot of money mate.  i got mine recently for about £4k and i am paying nearly £3k for insurance.   i insured the car on the basis that i would do about 20k a year.

 my mates worked out that purely on fuel (optimax on the basis of 94p,litre) and insurance, nothing else taken into account that i would need £10k to run it for a year if i do exactly 20k miles. this is quite alot when you are a full time uni student with only a part time job etc

i need to put her through an MOT soon which i know of things that i need to get sorted first.   ow yer plus some new tyres all round.

i have had it just under 2 months, and i have got it serviced which ended up costing £990 due to the fact i needed to do front discs, pads, plus water pump.
And i walked out with a big list of stuff i still need to do, let alone a rebulid might be looming in the near future due to unsure of correct millage.

Plus the need/cost to run another car for millage, lol. why do we do it.............................................cause it is worth every minute when you do over a porshe/M3/or for that matter almost anything else.

i knew a Rex was going to be expensive to run but i never thought quite like this.

however i have just turned 21.  so was therefore was driving a (apparently going to find out for sure soon) 300bhp at the rear wheel Rex that at the age of 20.     How cool is that(proper pimp)!!!!!!!

They are by far the coolest car on the road and you will def enjoy owning one.  but think about the money seriously and what ever figure you calculate it will cost you add on some more to get you final figure

i am the first one to addmit i am a little bit of a poser (however one that can actually drive (not just for show)/hense having my race licence) etc  but lets be honest with the way Rex\'s turn heads, everone driving one has got to be a bit.   :burnout

sorry for the long post

[dandan]

sounds like you are about to enter my world, Sjaineb! prepare yourself for a horror story of grotesque financial proportions and if you still want one after you\'ve read it, you\'re already addicted to RX\'s and it\'s too late for you anyway!

I work for my dad, we started a new business in early 2004 so I haven\'t been exactly flush for money in the last couple of years.
Last year, about june, i decided i was sick of not having a car, so i got a loan for £8000 with the intention of buying an Audi S2. As I was still not getting paid I borrowed more than I needed and was going to use some of the money to make the repayments until i started to get paid (yes, stupid i know but I was gasping for a car)

At literally the last minute, my brother convinced me to try for insurance on an rx7 instead, and unbelievably it was around the same figure, so my plan changed overnight. I was very patient (for me) and looked over this forum for 2 weeks before I bought one, this was probably my biggest mistake, I should have waited and learned a LOT more about the cars before parting with the cash.

So I paid £6750 for a lightly modified black 92 RX7, and I was well pleased!
 
For about two weeks, until the engine blew up.

Blame bad luck if you like, but I would be inclined to blame me buying a car that I hadn\'t fully checked out.
So the loan went up another £4000 to a total of £12000, in order to pay for the rebuild AND a couple extra months repayments cos i still wasnt earning anything.
A month or so later i got the car back, and it took me about a month to start disrespecting the car so much that it bit me in the ass and I crashed it into a wall. (the fastest car i had previously driven was a FWD diesel mondeo)

I got the cheapest insurance quote I could by possibly failing to mention a couple of engine mods (about 50hp over stock) hence no payout, so now I had a £12000 loan, and a big lump of metal that i couldnt afford to fix, and almost no income.

Luckily I had the driveway space and garage space to break the car and sell it for parts. This is the only thing that kept me afloat financially from October to March, I was getting £400 a month from my dad, and nearly £300 went straight into the loan payment, not to mention credit cards, phone bill, etc etc.

Somehow through all this my only thought was getting back on the road in an RX7 (i know, im a terminal case) and as breaking the car had taught me a lot about the mechanics of the rx7, I thought i might be able to use the knowledge to fix up a cheap, broken car.

Through a bit of luck (about time too) i managed to save enough to get another car at a very good price from a family member, and then through another bit of luck I managed to part ex the car privately against a very neglected but highly modified RX7.

This new car also came with a load of extras which I have managed to sell on, again it is the only thing really keeping me out of the red, and hopefully it will soon be up and running, although more than likely the only thing i will be doing then is selling it and trying to recoup some of my lost money!

So now i have huge debts, a pile of rx bits in my garage and a broken car (currently) but for some reason im still here!

Pick any one of the many mistakes I have made, and try to avoid them and things could be ok. Just plan, plan, plan, dont be hasty, and make sure you have accounted for ALL the costs likely to be involved. It may mean you should perhaps wait a year or two, but it could make it much more worthwhile in the end.

[deanflowers]

my advice is take someone with you who knows these cars, even a poorly rex will feel quick, i went from a 200bhp car to a rex that was only boosting about 70% and it still felt quick.

Also thewre are rebuilds and rebuilds.

my car was bought with a new engine and lasted me 10,000 miles before dying, its been exactly 1 year since i last drove my car but i wont get rid of it

[Rixio]

Dont do it, not at that age and not by taking a loan out and specially not from a 1.2 corsa. You wont be able to afford repayments, aswell as fuel, as well as maintenance specially if something goes wrong

[Adriansturgess]

The main thing i\'m worried about is petrol, how much does it usually cost to fill a tank and then how many miles roughly would you get out of it???

The RX-7 is the most efficient means devised by man of converting a tank full of petrol into a tank full of air. All you have to do is turn the ignition key a few times and hey presto....amaze your friends with this most impressive  of disappearing acts...... :rollin

[D1 WTF]

The RX-7 is the most efficient means devised by man of converting a tank full of petrol into a tank full of air. All you have to do is turn the ignition key a few times and hey presto....amaze your friends with this most impressive  of disappearing acts...... :rollin

F@*king Brilliant!!!!!!!!!!!!!!!!!!!!!!!......how true

[richard cash]

i say go for it if your prepared for the costs. I got my MR2 Turbo at 19 and was in for a shock with the maintance bills. I was a poor student and wasnt prepared to shell out money for maintenance. That was my downfall and i had a crap time with it. I sold it on broke after spending loads modding it and bought a broken rex. I had it rebuilt straight away and with insurance it skinted me out. Everything i had saved from leaving uni last summer was gone, but i had a georgeous rex. Now im quite close to finishing the running in and im getting it tuned soon. the fuel is crazy at the moment and thats driving off boost and then theres the maintance costs, i.e suspension bushes, brakes etc etc. On top of all that ive still got a few things to buy for it to finish the whole car off but the big thing is i have an understanding girlfriend that doesnt mind me spending 50-70% of my earnings on my car. If you cant budget a proportion of your wages each month then i wouldnt reccomend it. If you can save a couple hundred a month then youll be safe.