R34 Gtr Vspec

[Wigout]

Helllllllllo Skylines Australia forum,

After being a longtime lurker i've decided to sign up and ask a few questions that i hope a few of you may be able to help answer, or atleast give some advice on!

Quick background story...finished uni a year ago, been working full time since then, saving heaps of money, now i'm at a stage in my savings where i could buy outright (no loan needed) an R34 GTR, assuming the car is less than 50k as i need money for insurance and other stuff. Thing is 50k is A LOT of money and i'm battling with myself over if spending it on a car is the "right" or "smart" choice! I'm not a homeowner yet, however i'm not sure if i'm ready to buy a house yet as i don't have a longterm partner or anyone to share the mortgage and other costs with. I also figure should that change and i want to get a house i could always sell the car, yes i'd lose money but it's not like the car will be worthless.

1) Is buying a car like this a waste if it will only be driven on the street? I'm not saying i wouldn't go to the track, in fact i would love to take it to some casual track days, however majority of the time the car will be driven on 60 or 100km roads.

2) While i won't be selling my current car, there is a chance the GTR would become my daily, is that ok or am i going to destroy a great car in stop/go traffic every morning and afternoon?

3) I have 0 mechanical knowledge whatsoever. I know how to change the oil and other basic stuff, however any work that needs to be done to the car i will have to take to a professional. Is this an issue? While i'd say a decent proportion of GTR owners work in the automotive industry, i'd bet there are plenty that don't so do you just learn as you go?or can you scrape by with little knowledge. I guess one of the great things about communities like this is there is 10+ years of threads on a range of topics so i could likely search and find answers to most things.

4) Obviously before i buy any car whether it is 5k or 50k i would get it inspected, however how reliable are these inspections? Like if the guy "green lights" the car could it still blowup a week later? When it's a 5k car thats a risk i'd happily take, however 50k :S Should i get the car inspected by a specific import workshop or are the RACQ type inspections good enough?

Ultimately it's up to me to make the decision but i appreciate any words of wisdom from other GTR owners that maybe went through the same or similar dilemma process when considering spending so much on a car!

[mad082]

1: yes and no. while the car will happily work as a daily driver driven on the street and it isn't really a waste. out of all of the GTR's out there i'd say that only a small percentage of them actually see the track.

2: again, yes and no. as i said above, it will handle being a daily just fine, however you have to ask yourself whether you are going to be constantly worrying about whether it will be getting bumped or scratched in car parks. if you would then it will sour your experience a bit of using it as a daily.

3: i doubt the validity of your statement about the majority of GTR owners being in the automotive industry, but that is a little bit off topic. when you get right down to it, a GTR is no more special than a commodore. they require similar maintenance and care, it's just that when it comes time to do more in depth work (diagnosing problems, replacing turbos or tuning, etc) you want to use someone with a bit more knowledge than your average mechanic. changing oil, spark plugs, etc, can most certainly be done by yourself or by the average decent mechanic (if they can't do it right on a GTR then they probably can't do it right on a commodore or falcon either). it is no harder than any other car out there.

4: there is the chance that with any inspected car it could blow up a week later, or even on the drive home. some problems have telling signs before the problem gets serious, other times things just fail all of a sudden. this isn't that common though. most more serious things generally start to show signs which you can look out for when buying a car, and a professional should be able to spot.

[dlai]

I'd just like to say...

3. When owning a high performance car which you are passionate about, you will most likely gain knowledge as you go on. Simply researching parts for the car will lead to how the parts work, what they interact with and where it goes etc will just build your knowledge for the car. So in saying that, I don't think you should be frightened about the fact that you may not know so much detail about a car. Heck, that's what a mechanics job is Of course it's always good to have some basic knowledge.

That's my 2c, btw I don't own one, but answering in a form of owning basically any performance car. Hence, I didn't answer the other questions LOLOLOL

[sneakey pete]

Question: are you dead set on a r34? consider a r33/32. Some amazingly cheap r33 gtr's can be had. Heck you could probably buy 2 good condition r33 gtr's for 50K (not including stamp duty and insuring them of course)

[GTR-N1]

Welcome to SAU!

I had an R33 GT-R before getting my first R34 GT-R with no regerts whatsoever.

The most important point is getting a really good clean GT-R first up (regardless as to whether or not it's a V-Spec).

Get a workshop with RB-engine experience to look it over for you before you part with your money > rewards are tremendous!

[Wigout]

Thank you everyone for the replies!

@mad082: I guess i'm not surprised by your comment about only a small proportion of GTR's actually seeing the track, i mean how many people do you see in 4WD's that never go off road. Also my statement about GTR drivers being in the automotive industry was pure speculation. Good to hear that most major issues will show signs and not suddenly snap, so given a good once over by a qualified expert i should have relative peace of mind if they say everything looks good. Are there any particular things GTRs are prone to?

@dlai: I agree with you on this mate and i know the kind of person i am and when i get passionate about something i research the hell out of it to better educate myself so i'm sure i'll pick up plenty of knowledge along the way. It's just worrying initially when i feel somewhat noob :S

@sneakey pete: I'm not sold on it but there are a few reasons why i'm leaning towards the 34...newest model (excluding 35) so it has the best technology in it, only maybe 10years old which means less km's and hopefully less thrashing! As you can maybe read from my first post i am somewhat worried about spending a heap on a lemon and in my mind paying more for a newer, arguably better car is worth it. Also like the look of the 34 > 33 and the 32 is too old now i can't warrant spending 20k on a car that old!

@Terry_GT-R34: thanks for welcome Terry Honestly i think the biggest thing holding me back is the worry i will dump the cash on something that blows up so will definitely be getting it looked and based on mad082's words as long as it passes that inspection with flying colours i should rest easy. I mean i am in no rush to buy so will wait for the right car, instead of the first car. Also will sus out a good RB workshop near me...i heard ERD are good in Brisbane?!?

[Marlin]

I say NO.

I've not read everyone else's replies so will just give you my own opinion.

For someone like yourself I say no to 34 GTR (in fact any GTR) because your priorities really should be elsewhere. I know it sounds like an old man talking, but if you've saved 50 odd in cash, well, DO NOT SPEND IT ON A BLOODY GTR!

Any GTR costs more than you can ever expect to own. It's not just if and when something goes wrong, (especially if you're PAYING to repair it! GTR tax!!!), but even keeping a GTR in tip top condition as they should be costs big money.

I can't even imagine daily driving one, not so much for the cash outlay, but rather the sheer worry of leaving it parked, or having someone run into it. Heck, even a stone chip on my old 34 GTR stressed me out! Talk of tracking one is ridiculous, because it will break, they all do.

Leave the GTR dream for a couple of years. Set yourself up a little more, then get one! Trust me, they'll get a LOT cheaper soon! Guys will be wanting to get out of toys like it's going out of fashion..... this thing they call the GFC has a lot worse to get yet, and Aussies are far from immune!

[Comsic Gate]

I say NO.

I've not read everyone else's replies so will just give you my own opinion.

For someone like yourself I say no to 34 GTR (in fact any GTR) because your priorities really should be elsewhere. I know it sounds like an old man talking, but if you've saved 50 odd in cash, well, DO NOT SPEND IT ON A BLOODY GTR!

Any GTR costs more than you can ever expect to own. It's not just if and when something goes wrong, (especially if you're PAYING to repair it! GTR tax!!!), but even keeping a GTR in tip top condition as they should be costs big money.

I can't even imagine daily driving one, not so much for the cash outlay, but rather the sheer worry of leaving it parked, or having someone run into it. Heck, even a stone chip on my old 34 GTR stressed me out! Talk of tracking one is ridiculous, because it will break, they all do.

Leave the GTR dream for a couple of years. Set yourself up a little more, then get one! Trust me, they'll get a LOT cheaper soon! Guys will be wanting to get out of toys like it's going out of fashion..... this thing they call the GFC has a lot worse to get yet, and Aussies are far from immune!

I sort of agree with Marlin here.

I am in a very similar situation as yourself OP. I have saved up quite a bit of money and am looking to buy a new car (GTR of some sort), while i also plan on moving out at the end of next year. So i am battling with options, should i buy a better/more expensive car that i prefer (R34 GTR) and move out with less money? Or should i go with my 2nd favourite GTR in the R32 and move out with far more money, however being constantly paranoid about the car (will it explode?, wat happens if it dies?, how much money will i have to spend on it?)? Or lastly should i go the middle option with the R33 GTR, being my least favourite yet seems to be the best bang for buck.

For me it seems like the perfect balance might be the R33 GTR, its my least favourite of the GTR's, yet some can look very nice. Series 3, Midnight purple/KN6, lowered with 18" rims looks tough as! They are quick, have road presence and you can find some really good examples around mid $20,000.....about half the price of a R34 GTR!!!!

I am just talking out of my head here, but its food for thought man. Consider your options and think about what is the best combination of what you want and try make it work with your money. Set your priorities straight and work the car around that.

Good luck!!!

[Marlin]

I guess I'm just suggesting not to have a GTR as your one and only car, and really, not as a daily.

Smarter guys than me agree with this, and although they can afford much more expensive cars, they elect to run a 32 or 33 GTR and have a nice reliable daily. Eg, a 20k 32 GTR and a low klm Mazda MPS daily. (the even smarter ones avoid GTR's and run GTS-t's )

Talk to your accountant too. And take note of their face when you tell them you're looking at burning 50k plus in cash (ie all your savings) on a 10 year old car.

[Wigout]

Thanks for the continued comments and opinions as it's good to hear from people sitting on the other side of the fence.

@Marlin: You say don't spend the money on a car, which i am hesitant to do already hence i my OP, however you say to get my priorities straight which i assume means buy a house? While half of me agrees, the other half doesn't like the thought of taking on a 30 year debt by myself. Also i thought it would be a smarter choice to buy a car with cash rather than take out a loan on a depreciating asset?!? I feel that if i leave the dream now, the chances of me being in a position to get one further down the track with wife and kids a lot more challenging.

Also it won't be my only car i think you missed this part?

2) While i won't be selling my current car, there is a chance the GTR would become my daily, is that ok or am i going to destroy a great car in stop/go traffic every morning and afternoon?

I say there is a chance as i will likely prefer to drive it over my current car, however i will always have the cheaper/slower option available.

@Comsic Gate: Thanks for your input as its great to hear someone else is having similar battles in their head. You weigh up the options perfectly and maybe i am better off considering one of the other models, however i'm not as passionate about them and feel if i'm going to go for it, why not go the whole hog, rather than get something i half want to save some money. I feel this avenue will leave me disatisified, but who knows and i will keep an eye out as i don't mind the purple 33's. Your last comment, "Set your priorities straight and work the car around that." is a great one and i am continuing to decide exactly what they are.

Thanks again

[Iron Chef]

Props to you Wigout for going into this armed with all the information.

I own a rather lovely R34 GT-R (and I also have a wife, a mortgage and three kids at private school), but I would've owned it probably 5 years earlier than what I did if I had used all the money I tipped into my RX-2 (around $30K, not including a couple of personal loans along the way) and had gone and bought a house instead.

Sure property is looking shaky as a short term investment at the moment, but it won't keep going down forever, either will shares if you prefer to take a bigger risk. In fact now is probably almost the perfect time to buy either. I'm with Marlin, use your 50K as a deposit on a house, you'll end up a long way in front in the long term. Smart investors know that it's not just about having money, it's about using it to its full potential - that usually involves maintaining a 'healthy' level of debt.

Added: get yourself a financial adviser and explain to them what your goals are, then you can map out a course that will use your money more effectively and still allow you to get your GT-R

Edited November 28, 2011 by Iron Chef

[iplen]

Buy a rental in a Uni town (Bathurst comes to mind because I live here) after your $25k deposit rent will damn near cover the mortgage, if you heart really is set on a GTR get a 33, if you have a brain buy a 34 GTT with the other $25. Pay what you have been saving on the mortgage and some basic improvements on the house, 4-5 years (or when you are ready to buy a place with the future Mr or Mrs Wigout, sell the rental, hello healthy deposit.

I know nothing about financial planning, but I am happy to come up with ways to spend your money

[ras1983]

Some good points have already been made. The only thing I would is that spending $50K CASH on a car is crazy. You're better off investing the money in property or shares and using any equity gained in the next few years to buy your GTR.

In my mind, I see no problem financing expensive cars because all you're giving up is the cash flow in the form of repayments. I can't see the logic behind paying with such a large sum of cash when the cash can be invested somewhere, gaining you equity, and giving you much cheaper financing options.

[ras1983]

I'll also add that fuel and tyres WILL cost you a fortune if you daily drive a GTR. You'd want to use BP ultimate or something similar, which seems to average around $1.60/litre. So depending how much you drive you'll be spending at least $80-$100 a week on petrol (if you don't fang it). Daily driving means you'll need a new set of tyres each year, and you'll be paying, at the very least, $200-$300 per tyre (you'd want something decent, no point having an R34 with $hitty tyres). There's another $1k+ each year. You have to factor in insurance as well, which will be expensive for a young driver.

You know you can afford to buy a GTR. You have to do your research to see if you can afford to run a GTR. They're two very different things.

[GTR-34A]

Hey mate i was in exactly the same position you are in recently...

long story short, after 3 or so months of searching for a BNR34 i finally found one, and bought it with cash saved.... im also young (under 25 just) and believe it was a good choice...

first thing i would ask is how long did it take you to save 50k? if it was something like 5 years+ i would forget it... if you can put away that amount of cash like i did in 1-1.5 years than i would say go for it.. worst case you put off buying a house for a year or two, and avoiding paying large amounts of interest....

Also are you living out of home? got your own place?... things like this will be hard on money, if still at home when you move out you need to make sure you get a place that can keep your car etc.. you will want it in a garage.

I wouldnt daily drive it.. would worry you too much and having a car like that you want to actually drive it when you take it out otherwise it will ruin it for you (depends on your daily driving roads of course).

Have you inspected any yet? taken one for a drive? i will say if you can afford one and its really what you want either get it, or dont get a performance car at all and wait abit longer till it suits you better, becuase after 6 months you will just sell off a gtt or 33 or 32 gtr at a loss because you will have realised you made a mistake (i made this mistake myself) becasue you are really passionate about the BNR34....

You do need to be commited when purchasing a BNR34 i think, as once you start searching is where the pain begins ha! 90% of cars i inspected were rubbish.. once you have decided that you want a gtr, the next question would be can i even find one worth paying for!

Let me know if you want to ask anything else that i might be able to help you with from my experience.

Cheers,

Anthony

[Comsic Gate]

Hey mate i was in exactly the same position you are in recently...

long story short, after 3 or so months of searching for a BNR34 i finally found one, and bought it with cash saved.... im also young (under 25 just) and believe it was a good choice...

first thing i would ask is how long did it take you to save 50k? if it was something like 5 years+ i would forget it... if you can put away that amount of cash like i did in 1-1.5 years than i would say go for it.. worst case you put off buying a house for a year or two, and avoiding paying large amounts of interest....

Also are you living out of home? got your own place?... things like this will be hard on money, if still at home when you move out you need to make sure you get a place that can keep your car etc.. you will want it in a garage.

I wouldnt daily drive it.. would worry you too much and having a car like that you want to actually drive it when you take it out otherwise it will ruin it for you (depends on your daily driving roads of course).

Have you inspected any yet? taken one for a drive? i will say if you can afford one and its really what you want either get it, or dont get a performance car at all and wait abit longer till it suits you better, becuase after 6 months you will just sell off a gtt or 33 or 32 gtr at a loss because you will have realised you made a mistake (i made this mistake myself) becasue you are really passionate about the BNR34....

You do need to be commited when purchasing a BNR34 i think, as once you start searching is where the pain begins ha! 90% of cars i inspected were rubbish.. once you have decided that you want a gtr, the next question would be can i even find one worth paying for!

Let me know if you want to ask anything else that i might be able to help you with from my experience.

Cheers,

Anthony

I agree completely with this!