Since Ozbargain always give out great financial advices, I would like to get your opinion on owning a vehicle mainly for fun.
I’ve had the idea of getting a manual 86/brz for 2 years now but never pulled the trigger because I feel like it’s not the best financial decision. I’m able to afford a decent second hand one since they have dropped to around 20k, and have plenty left over to cover other costs. But it’s small and impractical / not future proof. Alternatively I can keep saving up for a house which is probably more important, then marriage, kids, etc. Which probably will all happen within the next 5-10 years. I don’t see anywhere I can justify a fun car purchase until I wait until retirement?! I’m not into family sedans with big hp, I prefer small, simple, rwd design of the 86/brz. I don’t drive daily, only on weekends which would make car purchase even less justifiable.
I share the same love of cars as you guys but where do you draw the line on spending? And how the hell did all these teenagers afford these cars?! So many carsales photos with p plates on them and modded to the moon and back.
It depends how close to buying the house you are (because $20k makes a big difference with LMI… having to pay it might make the effective cost of the car $30k).
I knew I wanted something fun and affordable so bought myself a NB8B Mazda MX5 a couple of years ago for about $8k (I searched for a couple of months before finding the right deal). I spent a couple of grand on modifications I wanted over the course of ownership and then sold it a few months ago for $11k, essentially breaking even. You won’t do that with an 86 because it is still depreciating, but it shows that if you buy well and maintain it you can sell again for a minimal loss. Meaning 2 years of a fun car on the weekend might cost you $5k not really $20k.
The rear seats of a 86 are useless for anything with legs. The front seats pretty much touch the back and if you do squeeze forward enough there is no room for any toes underneath them. Make sure you test drive one and sit back there if that is a priority.
Consider a NC MX5 if you aren’t keen on the earlier ones. You can pick them up for as little as $10k now, and they will be a simpler and cheaper car to maintain in every way except for the roof (soft tops often need replacing after 10-15 years, hard tops should be fine). Convertibles also get bonus points with a lot of partners and the car is arguably slightly more fun to drive.